Business magnate Barry Diller employs a ‘sink or swim’ approach for his younger employees.
The chairman of IAC and Expedia Group, Diller has played a mentoring role to numerous influential figures, including Uber CEO Dara Khosrowshahi and former Disney CEO Michael Eisner. During an episode of the “Invest Like the Best” podcast, he discussed his philosophy on nurturing new talent.
Diller expressed a preference for hiring individuals who are “without any experience” or specialized knowledge, particularly at the start of their careers.
“By giving people responsibilities that exceed their current qualifications, you can truly identify who adapts and thrives,” he stated. “Creating such an atmosphere often yields remarkable talent.”
Having started his own journey with minimal experience, Diller recalls dropping out of UCLA and entering the entertainment industry through the William Morris Agency’s mailroom in 1961.
Years later, he played a pivotal role in the success of Paramount Pictures with iconic films like “Raiders of the Lost Ark” and “Saturday Night Fever,” and was a co-founder of the Fox Broadcasting Company alongside Rupert Murdoch.
“I was entirely unprepared and had no justification for being entrusted with responsibilities,” Diller noted on the podcast. “My superiors also assigned me tasks beyond my competence.”
His candid assessment of hiring experienced executives is revealing; in 2018, Diller proclaimed, “Hiring senior-level talent signifies failure on your part.”
“I’ve consistently believed in recruiting younger individuals to infuse energy and fresh perspectives into your organization,” Diller concluded.
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### Hustle Verdict
Our take is that Barry Diller’s unorthodox hiring philosophy could significantly reshape the talent acquisition landscape. By promoting a culture of responsibility at early career stages, companies may foster innovation and resilience. We believe this approach not only cultivates adaptability among employees but also positions organizations to remain competitive in a rapidly evolving market. The bottom line is that nurturing talent from the ground up may very well be the key to sustainable business success in the future.
