A highlight from Ep. 392 - The Decentralized Talent Network with Adam Jackson of Braintrust
Trust. Let's learn about you. How did you get yourself into this amazing industry. Where did you come from. And what was that the clicked in your head. That says bill crypto networks. What i need to do with my life for sure. It definitely is what i need to do with my life. I couldn't think of a better way to spend time. Honestly and in brain trust is really truly a passion project Quick i'm a software engineer by training. I studied computer. Science at vanderbilt university. Moved out here to the san francisco area right out of school and i was sort of like kind of lousy engineer turned entrepreneur and bracelets is actually my fourth venture backed endeavor. My i've been building investing marketplace's my whole life so to side and web enabled marketplace's my first one was in e-commerce marketplace acquired by intuit second automotive marketplace acquired by advance auto parts Third one's called dr man which is now the world's largest video telemedicine service and then now braintrust which were almost three years into and are launching on a theory may net here September first shelf That will have already happened by the time you guys here but you know like the theme there is like i've been really obsessed with the the magic of web enabled marketplace's right like software that brings together buyers and sellers writes amazing thing one problem. I noticed though at over my career of participating in these as a as an investor or founder is the very capital intensive to build right. Like the playbook for web to marketplace's is typically been like raise hundreds of millions or billions of dollars of venture capital. Use that money to subsidize one or both sides of the marketplace. If you're lucky you get liquidity right. I e e lots of buyers and sellers transacting and then step four pair investors back. And how do you pay them back. Fees on the marketplace right so the rake keeps going up and up and up and what that does is it creates now this misaligned incentives structured between the users on the network who make their living there things like drivers or uber door dashers or whatever or in the end the owner operators of the network which are typically. If you that much money your investor right and so your network effects start to erode people start to like wanna go around the platform so they don't have to pay that big break and so. I thought you know there's a better way to do this right. There's gotta be a better way to there's going to be way to get your users who make their living on the network to also be owners and in control of the network from day one in so with brain trust. This was actually like token economic model looking for a category. I was actually a a full-time investor. At the time. I i wrote the model and You know it's like basically flip the script instead of raising billions of dollars and hiring tens of thousands of people raise a little bit of money and you give ownership in control of your network to the folks who make their living on it and then fast forward ten years and you've got you know. Minimal investor participation all of the control and ownership of the network. Are you know the folks who make their living there. So that's is a whole idea of brand trust and and that's that's a new business model new network model enabled by new technology to tokyo. Right like you to be fair to travis county yet you couldn't. He couldn't have started uber. Ten twelve years ago and gave ownership buber a little bit each driver and rider. Before you know it. You have ten million people. You can't do that with a token right. Like new tokens can be held by and transmitted by anyone at super easy so this is a totally new model. Serve uniquely enabled by the circuit while fascinating was their brain. Trust is right now. Currently like decentralized Talent pool. I would say. Could you explain why you started with talent. In the same way as uber started with cars specifically. They didn't go after everything. Airbnb went after real estate. You're going after talent plummer percent. Yes oh sorry. I kind of jumped right in there. I didn't get much of an intro to braintrust brain dresses. Decentralized hallam network built on a theorem it connects tech people product managers designers knowledge workers generally intact with companies. That need their services on a contract basis. In the brain trust network facilitates the contract. manages reputation payments and then we use our native token the brain trust token to govern the network instill. Why star talent. Great question like why not. Why not just dig right in with room. Sharing a ride sharing food delivery. The reason why we started this project in two thousand eighteen. And you know if if you're ever super early days it's still early now but it was super arlington eighteen basic. If you're gonna use a token as your new incentive mechanism new governance system pick a category. Where a little easier to explain token in a wallet so like it was a natural fit to start with certain knowledge workers tech people. And then you know hopefully someday move into other categories makes plenty of sense. So is this so where where a tech person just upload their resume and then wait for a call or are they looking through available tasks that they can do today however much or little. They won't do. Yeah yeah great question. Show so kind of bolt. So you can sign up the brain trust braintrust dot com as talent you create a profile which is sort of like it's like a linked in profile like way more interesting right like you can attach your code repositories or your design. Repass work history and then And then the the network software will serve open. Gigs for you rydell ceo.