Big Tech Hemorrhaging Talent To Web3

by | Feb 23, 2022 | 0 comments

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.

The Evolution of the Internet

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.

ADVERTISEMENT

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.

Visit the 4M Performance website for insights and information on Web3, cryptos, blockchain, NFTs, and all other pertinent articles on managing and leading businesses in the future.

Yoda quote

4M Performance

The 4MP Metaverse Glossary of Terms and Definitions is being compiled. For your FREE copy simply email us at: james@4mperformance.com.

 

 

 

Categories: Web3 & Metaverse
Tags:

By Jim Lavorato

Jim Lavorato is the founder of 4M Performance which is designed to assist businesses to survive and thrive in these uncertain times. Jim launched an entertainment-related company in 1988. He was at the forefront in cinema technology and helped spearhead the movie industry's transition to digital presentation and distribution. He also co-founded the Arboreal Group, an environmental consultancy. He has published articles on the motion picture and media industries and is a contributing editor for ScreenTrade magazine and writes a blog "Cinema Mucho Gusto". He is a certified SCORE Mentor in the SCORE Greater Phoenix Chapter and lives in Scottsdale, AZ. Learn more about Jim in his "About" page.

Check Out These Related Posts

DAOs: Can They Change The World?

DAOs: Can They Change The World?

The internet and social media networks of Web2 made mass communications much easier, worldwide. Web3 will make it possible to not just communicate but to coordinate around capital. Like Web2, these new Web3 networks are not constrained geographically...but are capable...

read more

0 Comments

0 Comments

Submit a Comment

%d bloggers like this: