Google, Amazon workers leaving Silicon Valley for crypto, Web 3.0 startups: Report

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Not long ago, it was a dream for aspiring developers to land a job in Silicon Valley. The best minds in the industry automatically gravitated towards tech giants like Google, Meta, and Amazon.

However, there seems to be a shift in momentum with the arrival of cryptocurrencies, blockchains and the latest iteration of the internet, Web 3.0.There has reportedly been a splutter of high-profile exits, with many top executives leaving Silicon Valley for positions at cryptocurrency firms and other decentralised tech ventures. "We are unquestionably seeing some of the best and brightest of Silicon Valley, or tech, move over to crypto," Scott Fletcher, Co-Founder of Intersection Growth Partners, one of the top recruiting firms in Silicon Valley told Business Insider.

"I've never seen a change happen this quickly”, Fletcher said.Recruiters believe the shift is largely driven by people’s desire to work on the new technologies that are more exciting and trending. With the crypto and Web 3.0 spaces still facing skill shortages, it is seen as a good time to capitalise on the opportunity to both learn and earn.

This is particularly true for developers. "Developers like new things — they like new, shiny objects," Vivek Ravisankar, CEO of HackerRank, a developer recruiting firm, told Business Insider.Also Read| Bitcoin outlook: Has the trend reversed, and what do experts expect?In December 2020, Brian Roberts, the CFO of Lyft, the popular taxi service, left to join OpenSea, a popular Ethereum-based non-fungible token (NFT) marketplace.

Shortly after, Sherice Torres, former chief marketing officer (CMO) at Novi, Meta’s digital wallet project, moved over to Circle, a blockchain-focused payments firm. Ryan Wyatt, Head of Gaming at YouTube,