AI-generated analysis, not investment advice. The articles are written by AI, edited, and checked against company filings — but the judgements are opinions and the figures go stale. How this is made · Terms

⚠ Fifteen Point Six Percent Leave on PurposeModerate threat

Bending Spoons (BSP) — threat to the moat

Fifteen of every hundred Spooners leave because Bending Spoons decided they should, which is a policy that gets harder to run as a company spreads across four continents.

Bending Spoons runs attrition as a policy. In 2025 the Spooner attrition rate was 16.2%, of which 0.6% of the Spooners it intended to retain left, implying a wanted attrition rate of 15.6%, concentrated among recent hires and driven by its efforts to pursue exceptional talent density1. Attrition in 2023 and 2024 was broadly similar2.

Attrition and the filter, 2025Spooner attrition rate16.2%Of Spooners it intended to retain0.6% leftImplied wanted attrition15.6%Applications receivedabout 800,000Hired286, under 0.04%Glassdoor rating, Q1 20264.7 of 5 on 300+ reviewsBending Spoons Form 424B4, Business and the Platform
Nearly all of the turnover is chosen.

The mechanism is centralised and explicit. The Talent team has final authority over all hiring decisions, as well as decisions to part ways with team members3. Under a principle it calls uncompromising excellence, the company says it is uncommon for companies to part ways with team members who are performing adequately, no matter whether stronger contributors are available, and that it proactively makes and acts on such determinations4. Every job offer is accompanied by a document outlining some of its controversial principles, including radical candor and uncompromising excellence5.

It works at present. The Glassdoor rating was 4.7 out of 5 at the end of the first quarter of 2026, based on more than 300 anonymous reviews submitted by Spooners6, and no employees are represented by a labour union to the company's knowledge7.

The risk is scale and geography, and the company names it, warning that it may not be able to maintain this culture as it grows8. Team geography at the end of the first quarter of 2026 was 40% in the United States, 21% in Italy, 10% in India, 7% in the United Kingdom and 22% elsewhere9. It also notes that in certain jurisdictions, membership in a union is information that employees need not disclose to employers10, which it says could make addressing labour organising more difficult.

The hiring machine is itself being automated. The Talent team was 55 full-time equivalent Spooners at the end of the first quarter of 2026, 9% of all Spooners, and includes software engineers, data scientists and AI research engineers11; during the second quarter the company introduced interactive tasks with AI agents in the candidate selection process, scored asynchronously by recruiters12. Filtering 800,000 applications13 is not a job a human team could do.

Wanted attrition is a strength as long as the people being replaced are weaker than the ones arriving. If the figure for Spooners the company intended to retain rises from 0.6%, that is the first sign the filter has started working in reverse.

References
  1. ReportedIn 2025 the Spooner attrition rate was 16.2%, of which 0.6% of the Spooners it intended to retain left, implying a wanted attrition rate of 15.6%, concentrated among recent hires and driven by its efforts to pursue exceptional talent density.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - the Business section on the Platform: people, hiring, compensation and culture. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
  2. ReportedAttrition in 2023 and 2024 was broadly similar.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - the Business section on the Platform: people, hiring, compensation and culture. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
  3. ReportedThe Talent team has final authority over all hiring decisions, as well as decisions to part ways with team members.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - the Business section on the Platform: people, hiring, compensation and culture. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
  4. ReportedUnder a principle it calls uncompromising excellence, the company says it is uncommon for companies to part ways with team members who are performing adequately, no matter whether stronger contributors are available, and that it proactively makes and acts on such determinations.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - the Business section on the Platform: people, hiring, compensation and culture. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
  5. ReportedEvery job offer is accompanied by a document outlining some of its controversial principles, including radical candor and uncompromising excellence.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - the Business section on the Platform: people, hiring, compensation and culture. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
  6. ReportedThe Glassdoor rating was 4.7 out of 5 at the end of the first quarter of 2026, based on more than 300 anonymous reviews submitted by Spooners, and no employees are represented by a labour union to the company's knowledge.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - the Business section on the Platform: people, hiring, compensation and culture. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
  7. ReportedThe Glassdoor rating was 4.7 out of 5 at the end of the first quarter of 2026, based on more than 300 anonymous reviews submitted by Spooners, and no employees are represented by a labour union to the company's knowledge.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - the Business section on the Platform: people, hiring, compensation and culture. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
  8. ReportedThe risk is scale and geography, and the company names it, warning that it may not be able to maintain this culture as it grows.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - Item 3.D risk factors and the notes on legal proceedings. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
  9. ReportedTeam geography at the end of the first quarter of 2026 was 40% in the United States, 21% in Italy, 10% in India, 7% in the United Kingdom and 22% elsewhere.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - the Business and MD&A sections on revenue by type and by geography. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
  10. ReportedIt also notes that in certain jurisdictions, membership in a union is information that employees need not disclose to employers, which it says could make addressing labour organising more difficult.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - the audited consolidated financial statements, the Q1 2026 interim and the MD&A on results of operations and tax. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
  11. ReportedThe Talent team was 55 full-time equivalent Spooners at the end of the first quarter of 2026, 9% of all Spooners, and includes software engineers, data scientists and AI research engineers; during the second quarter the company introduced interactive tasks with AI agents in the candidate selection process, scored asynchronously by recruiters.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - the Business section on the Platform: people, hiring, compensation and culture. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
  12. ReportedThe Talent team was 55 full-time equivalent Spooners at the end of the first quarter of 2026, 9% of all Spooners, and includes software engineers, data scientists and AI research engineers; during the second quarter the company introduced interactive tasks with AI agents in the candidate selection process, scored asynchronously by recruiters.
    Bending Spoons second-quarter 2026 results release, Form 6-K exhibit 99.1 - organic revenue growth, non-GAAP measures, net debt and leverage, the business transformations and guidance for the third quarter and the full year. — Q2 2026 · publ. 13 August 2026 · source ↗
  13. ReportedFiltering 800,000 applications is not a job a human team could do.
    Bending Spoons S.p.A. Form 424B4, the final initial-public-offering prospectus dated 30 June 2026 - the master document, covering the business, the Playbook, the Platform, the audited financial statements for 2023-2025, the Q1 2026 interim, the acquisitions, customers, risk factors and legal proceedings - the Business section on the Platform: people, hiring, compensation and culture. — FY2023-Q1 2026 · publ. 1 July 2026 · source ↗
Sources
Generated October 20, 2026