The DAO imploded. Millions vanished. But all I could think was, “Where were the adults?” Not in the ageist sense, but in the sense of seasoned professionals who've seen boom and bust, who understand risk beyond a whitepaper, who know that "move fast and break things" doesn't scale to billions of dollars.

Are We Building Castles in Sand?

James, founder of Talentverse and an industry "OG" headhunter, recently dropped a truth bomb: Web3 has a serious grown-up deficit. He’s interested in experience, not age. That experience includes having worked through difficult regulatory landscapes, managing multi-million dollar budgets, and appreciating that often the greatest innovation is knowing when not to launch one more coin.

James's experience is telling. He's not some wide-eyed crypto bro. Before Headhunters he spent several years in conventional headhunting and human resources inside banking, retail, asset management and the net. Then in 2020 he made the leap into the Web3 space. That’s provided him with a view most of the “disrupt everything” crowd demonstrably does not possess. He understands that Web3 can elevate value but erode value. As someone who has seen both the money made and the money lost in this industry, he gets it.

The industry that once lionized those young founders, the college dropouts with the radical ideas to upend finance. To be sure, while that young spirit led to tremendous innovation, it led to a void. A vacuum of sound judgment. A vacuum of boring but essential skills. Think risk management, compliance, strategic planning. The result? Projects created out of speculative speculation falling apart from their lack of foundation. Remember the ICO craze? A prime example of exuberance outpacing expertise.

Traditional Skills: Web3's Secret Weapon?

Here's the unexpected connection: Web3 needs to look to Web2, and even Web1, for its salvation. Gasp! I know, heresy! But hear me out. Those skills developed across traditional finance, law, marketing and management industries are not only transferable, but hugely sought after in Web3.

  • Finance: Understanding financial modeling, risk assessment, and regulatory compliance isn't optional; it's the bedrock of a sustainable Web3 economy.
  • Law: Navigating the legal minefield of decentralized finance, data privacy, and securities regulations requires seasoned legal minds, not just enthusiastic coders.
  • Marketing: Building trust and brand loyalty in a skeptical market demands sophisticated marketing strategies, not just viral memes.
  • Management: Scaling a Web3 organization requires leadership, organizational structure, and operational efficiency.

The good news? The tide is turning. James elaborates on the growing need for BD, marketing and legal talent. Why? Because the Wild West phase is over. It has traditional financial institutions buzzing. They’re unlikely to pour billions into projects managed by people who confuse a term sheet with a new form of bitcoin. They want adults at the table.

Innovation And Experience: A Power Couple

Now, some will inevitably cry foul. "You're stifling innovation!" they'll say. "You're turning Web3 into just another boring version of Wall Street!" To that, I say: Nonsense. Innovation and experience aren’t mutually exclusive—they’re a dynamic duo. Now, picture the potential when this disruptive energy is mixed with the wisdom of experienced professionals. Now picture those projects, built on those solid ethical foundations, looking far beyond the short-term and committed to sustaining their efforts.

The political bias on 3 is less evident, but it is certainly present. Web3 does require regulation, not to suppress innovative technology, but to protect the average consumer and establish the Web3 industry’s legitimacy. This debate isn’t about government overreach, it’s about establishing a level playing field in which responsible actors can succeed.

The talent gap is very real and the stakes couldn’t be higher. As James pointed out, initiative, a growth mindset, and hyper curiosity are super important, but so is preparation. So is understanding the risks. So too is having the judgement to know when to pump the brakes.

Whether you’re a tech veteran or an expert in another field seeking your next great adventure, Web3 is calling your name. So go ahead, volunteer, make a difference, learn the ins-and-outs and be prepared when that opportunity comes along. Now if you’re reading this and you’re a Web3 company, experience over hype. Hire the grown-ups. Your future depends on it. The future of Web3 depends on it. Let’s stop creating things that go viral and instead create things that have real longevity.