70 Million Jobs
| Company type | For-profit |
|---|---|
| Industry | Employment services |
| Founder | Richard Bronson |
| Fate | Ceased operations on June 2, 2022 |
Area served | United States |
Key people | Richard Bronson (Founder and CEO) |
| Products | Employment services for individuals with criminal records |
70 Million Jobs was a U.S.-based for-profit employment service designed to support individuals with criminal records. The company’s title referred to the approximate 70 million Americans who have a criminal background.
History
Richard Bronson, who served as founder and CEO, established 70 Million Jobs after experiencing difficulty securing work following his incarceration for defrauding stock accounts at his over the counter brokerage house, which he started after departing from Stratton Oakmont. The platform focused on aiding former felons by assisting them in résumé development and linking them to employers open to hiring people with criminal histories.
The company gained acceptance into the renowned Y Combinator accelerator program and received venture capital backing, enabling it to help place thousands of individuals affected by the justice system into employment. Despite this, operations ended on June 2, 2022. Bronson cited obstacles stemming from the COVID-19 pandemic and the Great Resignation as reasons for shutting down, explaining: