A highlight from Ep. 541 The Future of The Gig Economy with Braintrust



Joined today by Adam Jackson, the CEO of Brain Trust. Adam has been on the podcast and digital currency summits many times. We can't get enough of this guy because he's so full of great information. We had to have him back yet again. Adam, thank you so much for joining us. Well, thanks for having me back. I know I'm usually full of something. Hopefully it'll be good information today. Well, we'll roll the dice and see what we get. Let's start with your background first for those of you out there who maybe have been living under a rock and have not read about you just yet. Who you are, who are you, what do you do and what have you built? Yeah, for sure. Adam Jackson, co -founder of Brain Trust. Quick background, I'm a software engineer by training, studied computer science at Vanderbilt University, moved out here to San Francisco right out of school 16, 17 years ago. It's been a while seeing all the ups and downs here. But working on my fourth venture backed project, I'm sort of an engineer turned entrepreneur, all marketplace businesses, but all in different categories. My first one was an e -commerce marketplace acquired by Intuit, then an automotive marketplace acquired by Advanced Auto Parts. Then in 2012, I started Doctor on Demand, which is a large video telemedicine service, not quite a marketplace, but it connects doctors and patients for live consultations and then got into crypto full time in 2016 ish around there and built, co -founded a crypto hedge fund called Cambrian Asset Management and then spun Brain Trust out of that fund and Brain Trust, you know, we're now, you know, in our fourth year is a decentralized talent marketplace that connects knowledge workers with clients that need their services. And we do so in a really fee disruptive way because Brain Trust is a crypto network. It's not a for -profit corporation and it's owned and controlled by the talent who make their living on the network. And because of that, it can charge very low fees, disruptively low. So zero percent fee to talent, 10 percent fee to clients. And what that does is it brings in the best talent from around the world because they got better economics. And then wherever the talent go, clients follow them. So the network's grown really quickly with that new kind of ownership model powered by this new technology, blockchain tokens. When I first heard of Brain Trust, I thought it was going to be something like a new government entity like the CIA. And I went to apply to like this new think tank or whatever it was going to be. And I found out it was a job hiring platform and I was like, oh, shit, I'm on. Yeah. But as I started looking more into it, I realized just how novel it is. And, you know, learning about your background, you are a guy that brings people together and you know how to really match supply and demand very well. So what was it about these other businesses that you did? I mean, honestly, you don't have to work for a living anymore if you don't want to. You could just be off on an island somewhere sipping martinis. But what is it that keeps you inspired to keep building, especially here in crypto? Well, yeah, it's true. Believe it or not, I do choose to do this with my time, which some days I wake up and wonder if that was really the right choice. But I am very passionate about. Letting global talent like access opportunity everywhere, right? The old saying talent is dispersed equally around the world, opportunity is not. And I come up in this world, I'm from Northern Ohio where there was not a lot of opportunity. I moved to California where there was a lot. And because when I came here, that was the only way you can kind of dip into the Silicon Valley ecosystem. And, you know, you'd had a network with the Sand Hill crowd and the silver, you know, blah, blah, blah. Right. And it all seemed unfair to me. Right. And restrictive on both sides. It meant not everybody wants to live in New York and California, especially these days. And companies would love to hire talent all over the world. They don't want to be restricted to one or two very expensive economic zones. And so in building two sided web enabled marketplaces, literally my whole career, I realized like the dirty little secret with a corporate owned marketplace is that the marketplace's job is to extract more and more fees out of the network. Right. Raise the rake, raise the fees. Take more dollars out of every transaction. And while that might sound good to shareholders, that it's it's actually like the better you get at it, the more misaligned the incentives become between the folks who make their living on the network and the people who own and operate the network. Right. And then the further misaligned those incentives become, the more of an incentive there is to disrupt. Right. To get rid of the corporate middleman, so to speak. And so when I discovered block chain tokens, I was like, wow, this is a totally new technology that allows tens of millions more and more people around the world to organize essentially a global co -op to build a network that is essentially software driven, does not have to does not have the mandate of extracting more value from its users every year and can keep incentives aligned and thus grow faster. Right. So the big idea here, this was an investment thesis at first. And now now it's just like an operating principle is like user owned networks will grow faster and be more valuable than investor or corporate owned networks. And so that's what we've been proven out here with Brand Trust. And that's that's what I'm passionate about. That's what gets me out of bed every day. Hey there, Crip Nation. It's Bryce here.

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