Tech talent migrates to Web3 as big companies face layoffs
Web3 companies continue to hire in a bull market as tech giants face layoffs and hiring freezes.
Analysis
As inflation continues to rise, coupled with a looming recession, many tech companies are having to cut some of their staff. To put that into perspective, data from Layoffs.fyi revealed that more than 700 tech startups were laid off this year, affecting at least 93,519 employees worldwide. It has also been reported that tech giants like Google, Netflix and Apple are suffering massive job cuts.
While many of these layoffs are likely due to an economic downturn, it has resulted in an overwhelming influx of talent into early-stage Web3 companies. For example, Andrew Masanto, a serial entrepreneur who has founded several startups, told Cointelegraph that he recently launched Nillion, a decentralized computing startup, to help ensure the privacy and privacy of Web3 platforms. /p>
Although Nillion is still in its infancy, the technological innovation behind the company has already proven to be attractive. Since the company was founded in October this year, top talent from companies such as Nike, Indiegogo and Coinbase have joined the growing startup.
For example, Slava Rubin, founder of crowdfunding website Indiegogo, told Cointelegraph that he recently joined Nillion as the company's Chief Commercial Officer because of the opportunity to join a startup with a innovative business model.
"The technology behind Nillion is massively innovative, as it focuses on advancing secure multi-party computing (MPC). MPC is known to be slow and unable to work for some use cases. The risk of failure does not concern me here because it is a huge opportunity to solve this problem, ”he said.
The idea of building technology to advance MPC also attracted Lindsay Danas Cohen to Nillion. Cohen previously served as associate general counsel at Coinbase before joining Nillion this year as the company's general counsel.
Although Coinbase
Web3 companies continue to hire in a bull market as tech giants face layoffs and hiring freezes.
Analysis
As inflation continues to rise, coupled with a looming recession, many tech companies are having to cut some of their staff. To put that into perspective, data from Layoffs.fyi revealed that more than 700 tech startups were laid off this year, affecting at least 93,519 employees worldwide. It has also been reported that tech giants like Google, Netflix and Apple are suffering massive job cuts.
While many of these layoffs are likely due to an economic downturn, it has resulted in an overwhelming influx of talent into early-stage Web3 companies. For example, Andrew Masanto, a serial entrepreneur who has founded several startups, told Cointelegraph that he recently launched Nillion, a decentralized computing startup, to help ensure the privacy and privacy of Web3 platforms. /p>
Although Nillion is still in its infancy, the technological innovation behind the company has already proven to be attractive. Since the company was founded in October this year, top talent from companies such as Nike, Indiegogo and Coinbase have joined the growing startup.
For example, Slava Rubin, founder of crowdfunding website Indiegogo, told Cointelegraph that he recently joined Nillion as the company's Chief Commercial Officer because of the opportunity to join a startup with a innovative business model.
"The technology behind Nillion is massively innovative, as it focuses on advancing secure multi-party computing (MPC). MPC is known to be slow and unable to work for some use cases. The risk of failure does not concern me here because it is a huge opportunity to solve this problem, ”he said.
The idea of building technology to advance MPC also attracted Lindsay Danas Cohen to Nillion. Cohen previously served as associate general counsel at Coinbase before joining Nillion this year as the company's general counsel.
Although Coinbase
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