Google is offering a base pay of $350,0000 plus mega-benefits to new hires in Silicon Valley… and it’s hard to get any takers. What happened to the dream jobs that once lured the best and brightest to big tech? Well, what happened was crypto, blockchains, NFTs, and Web3.
It is now very evident that Web3 and its accompanying crypto, NFT, and blockchain technologies are usurping the best tech-talent. This talent migration has occurred very rapidly, as numerous senior execs from the likes of Amazon, Google, Meta, Apple, LinkedIn, and Lyft have jumped into Web3 entities such as Coinbase, OpenSea, Polygon, and Gemini.
Given that big tech is still offering mega-salaries and benefits the movement is not about the money that lures talents into the crypto and blockchain space – it goes to the new frontier feeling and its freshness that energizes. Developing new protocol designs, tokenomics, wallet sign-in and safety, new governance mechanisms, and on and on. The smart and ambitious want to be where the NEW growth and ideas of the future reside.
The decentralization that Web3 offers is also a great magnet. Working for an old, pyramidal organization vs. a futuristic startup that gives power to individuals is most alluring. The age of the flat structured organization is upon us. The current big tech companies are aging and exhibit an ideological ethos that has become more and more woke and anti-citizen. Decentralization and its new vision of empowering the individual, as opposed to the centralized corporate model is appealing as big tech increasingly engages in blocking and deplatforming users – which we have all witnessed in recent times. As DAOs (decentralized autonomous organizations) of Web3 emerge the dynamics of corporate behavior and governance will change dramatically.
The economic incentive model is very different in Web3
There is a lot of technology to figure out. A lot of problems to solve. And a lot of potentials. And funding is not an issue there is plenty of funding for the Web3 and all of its components.
The Web3 offers elements unattainable in the current Web2 structure. First, crypto and blockchain and all unforeseen ways in which these technologies will impact every business and individual. Second, the technical challenges that excite users and developers alike.
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