It is a global battle for talent and labor market(s) are full of noisy signaling (such as elite credentialing, etc.) The question for many organizations is how to arbitrage the existing labor market(s) and find undervalued talent. Competitions such as Kaggle, etc. allow for serious and verifiable demonstrations of skill which can help overcome the strong prestige laden priors held by many managers (or in this case VC’s).
HT: RC Richards