Big Tech ‘bleeds’ talent into blockchain companies

blockchain

According to CNBC, a series of senior executives at many giant technology companies such as Google, Facebook or Amazon have quit their jobs and moved to work at companies in the crypto world.

Several blockchain platforms like Polygon and Circle have recently been steadily recruiting top talent from Big Tech companies with the goal of working on the “next big thing” – be it Web 3.0 or Web3.

Earlier this month, Ryan Wyatt left YouTube to become the leader of a new game project from Polygon. Prior to that, Wyatt had worked at YouTube since 2014 promoting video game-related content, helping the platform compete more strongly with Amazon’s Twitch.

“I started working at YouTube Gaming 8 years ago. We didn’t have a team then and I was the first there. By now, people were really interested in video game videos. death,” Wyatt told CNBC.

Wyatt adds that he sees a similar opportunity working at a blockchain company.

The list of talents in Silicon Valley who decided to turn to the field of cryptocurrency is still many. Sherice Torres, Facebook’s former chief marketing officer for payments and crypto, has been with Circle since January. Pravjit Tiwana, Amazon’s senior director of cloud, has also transitioned into a director role. technology of the Gemini cryptocurrency exchange.

Experts say that a series of senior executives at Big Tech companies are moving to work in the cryptocurrency industry because of its rapid growth.

“People are going to want to work where they find the most exciting and innovative in the tech industry. Right now it’s crypto and the Web3. Many are seeing this as the future of tech, like the future. like how Facebook and Amazon have been attractive in the past,” Alex Bouaziz, Deel’s chief executive and co-founder, told CNBC.

According to data from Blind, a social network for tech professionals, cryptocurrency exchange Coinbase offers up to $900,000 a year to software engineers.

funding-of-blockchain

Recently, the amount of money invested in cryptocurrency companies has increased sharply. This means that they will have more money to pay employees. According to figures from CB Insight, blockchain-related startups raised a record $25 billion in venture capital last year.

Tech startups also often allow employees to own part of the company through stock holdings. With a number of crypto companies being overvalued, their employees also receive a large profit.

According to CNBC, this shifting trend is not only happening in the US. Recruitment firm Hays said it has noticed crypto companies are also targeting talent from Facebook, Amazon and Apple in the UK and Ireland.

Leave a Reply

Your email address will not be published.