By Nathan Ferguson
Some years back executives dreamt to operate at Apple, Amazon, Google, as well as the other prominent tech companies of Silicon Valley, however presently the respective dream has been modified with the inclusion of crypto startups. Either to join the already established blockchain-related firms or to initiate such new projects, the prominent engineers, as well as the executives, are exiting the valley which pays large amounts of salary. It was reported by the New York Times that this exodus of the highly-paid executives denotes that the recent advancement in the crypto space with the products such as NFTs may be one of the most probable reasons behind it.
Nevertheless, the consequences of this radical evolution are not so clear at this point. Large firms such as Google are becoming more and more apprehensive regarding the talent that is consistently leaving them, and devising some strategies to put a stop to such an exodus. Reportedly, they have begun offering some extra stock provisions for their employees that are prone to move towards crypto startups, although no details have been given by them regarding such steps.
The chief executive officer (CEO) and the co-founder of Mysten Labs (a startup related to blockchain) – Evan Cheng – remarked over this evolved perception. He stated that in the year 2017, the majority of people were taking the crypto space as the provider of an investment opportunity. Nonetheless, at the current time, they genuinely feel a need for building stuff in the world of cryptocurrency.
The exodus of Silicon Valley’s executives
A few of the executives, notwithstanding the attempts of their employers, have left them broken hearts to start their journey into the field of digital assets. Sandy Carter (a former president of Amazon and Unstoppable Domains’ Channel Chief) is now utilizing crypto domains for interconnecting Web2 and Web3. Jack Dorsey – the former CEO of Twitter – exited the venue to devote his time to his Block (formerly known as Square). Surojit Chatterjee – the former vice president of Google – is presently the chief product officer at Coinbase.
The probable continuation of the exodus
It is expected, as per Sandy Carter, that this exodus would consistently carry on like a storm as this time is to jump in. In the meantime, Brian Roberts stated that several cycles of paradigm shift have been witnessed by him, which indicates that something considerably big is going to happen and the products like NFTs are adding to this emerging evolution.