1. VCs investing in crypto projects is IMO not a big deal because governance rights are so different in web2 versus web3 companies
2. Interesting take on which marketplaces can be disrupted because of take rate. My sense is these marketplaces are forced to charge more because of a weaker network effect. I think there's something worth exploring there - how much can different tokenomics improve these network effects? What can't be improved (e.g., a DoorDash order can only have so much variable margin given the cost of food, versus a home rental which has a much higher variable margin)?
Another excellent post Packy. A question central to this and all similar tokenized web3 enterprises seems like, how is the value of the tokens supported and enforced? If we compare to U.S. Dollar or other major fiat currency-based businesses, the core support holding up the value of the token - the dollar say - is, ultimately, the financial weight and if it comes to it military might of the nation-state sat behind it. The development of fiat currencies in the last few centuries has gone hand in hand with the development of the (oppressive, militaristic etc) nation state. Ten years from now, what force or forces supports and/or enforces the value of the myriad tokens created in web3 businesses? Asking for a friend.
This is wonderful, web3 is really amazing and something of a revolution, the uniqueness of capitalism against capitalism is a different strategy, upworks and Co. Has it uniqueness but the Braintrust has an outstanding problem solving platform and more to offer with low cost.
Just out of curious to know if you are saying every talent will find the pace in Braintrust, how about jobs that are not Remotely done.
It's not entirely correct that shares in a public company cannot be used as utility. Carnival used to give credits to spend in cruises to its shareholders.
Does BrainTrust really not have to pay *any* acquisition costs? Sure, tokens allow you to not pay acquisition costs when those acquisitions come through referrals, but what about advertising costs? Does that mean advertising companies would have to be willing to accept tokens as payment?
Well articulated article. Tokenomics suggests web3 leads to community-owned monopolies, think public utilities like water companies but with network user-value similar to what Credit Unions/Building Societies offer.
I’m curious to understand any unintended consequences of such an end game. For instance, would some of the unbundling-of-Craigslist innovations have been foreclosed if we had had a scam-free version of Craigslist with token lock-in incentives in the first place?
Great article. I do think one core aspect web3 orgs will need to come to terms with is a community value proposition that is niche unique. That is I see a future where different web3 orgs fill different market subniches; right now it seems that most are simply trying to be 'networks' or first with ownership and utility in 'something'. Those that narrow and clarify their UVP further and earlier will create their flywheel accellerator faster, sooner.
Great article, a couple thoughts:
1. VCs investing in crypto projects is IMO not a big deal because governance rights are so different in web2 versus web3 companies
2. Interesting take on which marketplaces can be disrupted because of take rate. My sense is these marketplaces are forced to charge more because of a weaker network effect. I think there's something worth exploring there - how much can different tokenomics improve these network effects? What can't be improved (e.g., a DoorDash order can only have so much variable margin given the cost of food, versus a home rental which has a much higher variable margin)?
Another excellent post Packy. A question central to this and all similar tokenized web3 enterprises seems like, how is the value of the tokens supported and enforced? If we compare to U.S. Dollar or other major fiat currency-based businesses, the core support holding up the value of the token - the dollar say - is, ultimately, the financial weight and if it comes to it military might of the nation-state sat behind it. The development of fiat currencies in the last few centuries has gone hand in hand with the development of the (oppressive, militaristic etc) nation state. Ten years from now, what force or forces supports and/or enforces the value of the myriad tokens created in web3 businesses? Asking for a friend.
"Because Braintrust relies on a protocol for things that humans might do in a normal marketplace..."
Can you provide an example of what the protocol is doing, which a standard web2 marketplace could not?
This is wonderful, web3 is really amazing and something of a revolution, the uniqueness of capitalism against capitalism is a different strategy, upworks and Co. Has it uniqueness but the Braintrust has an outstanding problem solving platform and more to offer with low cost.
Just out of curious to know if you are saying every talent will find the pace in Braintrust, how about jobs that are not Remotely done.
Great article.
FUCK YOU SCAMMING CUNTS
good
It's not entirely correct that shares in a public company cannot be used as utility. Carnival used to give credits to spend in cruises to its shareholders.
Does BrainTrust really not have to pay *any* acquisition costs? Sure, tokens allow you to not pay acquisition costs when those acquisitions come through referrals, but what about advertising costs? Does that mean advertising companies would have to be willing to accept tokens as payment?
Well articulated article. Tokenomics suggests web3 leads to community-owned monopolies, think public utilities like water companies but with network user-value similar to what Credit Unions/Building Societies offer.
I’m curious to understand any unintended consequences of such an end game. For instance, would some of the unbundling-of-Craigslist innovations have been foreclosed if we had had a scam-free version of Craigslist with token lock-in incentives in the first place?
Great article. I do think one core aspect web3 orgs will need to come to terms with is a community value proposition that is niche unique. That is I see a future where different web3 orgs fill different market subniches; right now it seems that most are simply trying to be 'networks' or first with ownership and utility in 'something'. Those that narrow and clarify their UVP further and earlier will create their flywheel accellerator faster, sooner.