Do people leave their tech jobs for Web3?

Veröffentlicht: 02. Juni 2022, 21:56 Uhr

Von: Krypto News Österreich

By combining technology and ideology, Web3 draws the top talents of the Big Tech to
94 % of crypto investors are z and millennials, and many believe that web3 will play an important role in their future

As Big Tech company lured top talents from Wall Street in the early 2000s, today's web3 companies attract the attention of managers in the technology industry.

The former Vice President of Google, Surojit Chatterjee, now acts as a Chief Product Officer from Coinbase. Pravjit Tiwana from Amazon has given up his position as General Manager of AWS Edge Services in order to become Chief Technology Officer at Gemini. Brian Roberts, former Chief Financial Officer of Lyft, joined the non-fungible token (NFT) marketplace Opeansea, and the former Head of Gaming on YouTube now leads Polygon Studios as CEO.

I have never felt like I was connected to a community of builders like that of Crypto/Web3. I don't speak of people who are a quick speculative win. I speak of people who want to convert the internet infrastructure to bring value and power into the hands of the people.

- David Marcus (@Davidmarcus) 26. January 2022

Perhaps the best known of all is Jack Dorsey from Twitter, who has now resigned from his position as CEO of the company to concentrate on his crypto -oriented payment company Block (formerly known as Square).

managers are not the only ones who move into the room.

"crypto is the unique occasional industry of our generation," said Cao.

Although Web3 seems to be an exciting area to explore, the cryptomarkt is also known as quite volatile. The latest increase in inflation and the downturn on the stock markets have led to the Bitcoin and Ether market capitalizations have fallen by over 50 % in the past six months. The crash of Terrausd continued to smash the market and destroyed $ 200 billion in just one day.

"The recruitment seems to slow down.

The market departure has not yet prevented risk capital providers from investing in space. Andreessen Horowitz promoted the previously planned layout of his 4.5 billion dollar mega meg, which, among other things, aims at web3 startups from decentralized financing (defi) and social media to playing and decentralized autonomous organizations (DAOS).

Binance Labs, the risk capital arm of the cryptocurrency exchange company Binance, also announced its plans to provide $ 500 million for blockchain projects in incubation, early and late phase growth startups.

Compared to the ICO-Wahn 2017-18, Cao said: "This time it is very different-there is more clarity in regulation and compliance procedures, more institutional acceptance and above all a lot more money comes in from VCS."

As a result, web2 veterans flock to an industry that needs their experience and guidance, he said.

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The post do people leave their tech jobs for Web3? is not a financial advice.