A friend of mine who is a seasoned Web2 tech executive joined a Web3 company in June. A switched-on operator, he asked to speak with all 16 staff before deciding to join the firm.
This shows that Web3 joiners need to really hone in on the mission when jumping ship from the old tech world.
Is the blockchain tech business model really plausible? You almost need to be a seasoned venture capitalist or world-class engineer when considering a new project’s potential to build a new L1 blockchain as promised — and, thus, deliver your token rewards.
The risk-reward metrics mean there are opportunities for great success. But with great success come great tax problems…
Taking the leap from Web2 to Web3 is not for the fainthearted.
“The first thing I see is that everyone in the space has an innovative mindset — early adopters, the change-makers and people not allergic to change. People love telling you how early they adopted,” explains Lucy Lin, founder of Forestlyn, a Web3 marketing agency. She spent “15 years in various corporate roles” before discovering crypto and blockchain in 2017. She says 2022 feels different — it’s more welcoming, for one.
“Five years ago, it was infested with ‘crypto bro’ mentality and behavior,” she says. “At the time, it was the Wild West: anything goes, a lack of process, young and inexperienced. I don’t want to discount that, but in those days, that was rampant. There was a severe lack of female representation.”
Lucy Lin of Forestyln.
“I’m glad to see an increasing amount of diversity and inclusion — more women, ages, sexual orientations, races, etc. — in the space these days.”
“Scams are still as pervasive as ever, but the space is maturing, and many more diverse people with a variety of skill sets are entering,” Lin tells Magazine.
As the industry grows up, it’s becoming a great career move for many. But it’s a whole new world than the one they’re used to. So, here are some reflections from the leap-takers, investors and founders who’ve jumped from Web2.