ACQ2 by Acquired Web3 Marketplaces (with Braintrust CEO Adam Jackson)
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Oct 26, 2021 In this insightful conversation, Adam Jackson, co-founder and CEO of Braintrust, discusses the revolutionary potential of Web3 marketplaces. He explains how Braintrust operates autonomously on the blockchain, prioritizing user ownership and governance. Adam shares the stark differences between traditional and decentralized systems, emphasizing fair compensation for tech talent in a remote-driven world. He critiques existing gig economy models and explores the innovative, community-focused approach that unlocks new opportunities for users and reduces transactional fees.
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Web2 Marketplace Incentives
- Web2 marketplaces often prioritize growth and high take rates, creating misaligned incentives between the platform and its users.
- This leads to a dynamic where the platform's profit motive clashes with the interests of the users who depend on it for income.
High Take Rates
- Uber and Upwork exemplify platforms with high take rates, sometimes reaching 25-45%.
- This incentivizes them to raise prices for consumers and extract more value from workers.
Positive Examples
- Craigslist, unlike most marketplaces, prioritizes user value over profit maximization, charging only for tech jobs in San Francisco.
- Airbnb also demonstrates a more balanced approach, returning value to users during crises like COVID-19.