Today’s most successful entrepreneurs achieved their wealth through innovative technology companies, such as Amazon, Oracle, Facebook and Microsoft. Ask Jeff Bezos, Larry Ellison, Mark Zuckerberg and Bill Gates, who remain the world’s technology leaders.
However, the stage is still open for other leaders to join this kind of roundtable, and the invitation is floating through blockchain and crypto-currency space. With leaders such as Changpeng Zhao (CZ) of Binance and Vitalik Buterin of Ethereum, many cryptomontage companies are still waiting today to capture the promise of Silicon Valley: The goal of moving away from centralized business and transforming existing infrastructure into a decentralized ecosystem. Recognizing at the same time that traditional Wall Street companies, such as Goldman Sachs, have not yet felt the need to engage in this industry.
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As wealth continues to spread to many throughout the industry, new crypto millionaires like, CZ, are not yet sitting at the same net worth table as Facebook’s Mark Zuckerberg, who has continued to sit in a comfortable private seat for the past few years, but many are catching up fast.
The overall growth and „success“ that companies like Uber enjoyed since their inception can now be measured by the participation of their early adopters, simply through supply and demand subsidies.
Why reinvent the wheel?
Carpooling platforms like Uber and Lyft connect people who need immediate transportation with drivers who have been screened by the system and can provide that service. The same is true for Airbnb, which connects people who need a place to stay with those who choose to offer their furnished homes for short-term rentals, there is extremely high demand for rentals around global technology conferences, including, but not limited to, the Consumer Electronics Show in Las Vegas, the South by Southwest in Austin, the Sundance Film Festival in Utah, and the World Economic Forum, to name a few.
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In fact, looking at two Silicon Valley-based startups, like Uber and Airbnb, with users on both the supply and demand sides of these networks, we realize that blockchain spaces and crypto currencies do not need to reinvent the wheel or invent a new growth model, that’s already there.
When Uber first launched, he faced the dilemma of choosing which group of customers to focus on first, the supply side or the demand side, in order to effectively grow his user base. According to a recent Harvard Business Review case study on Uber, Etsy and Airbnb, these companies focused on a two-stage growth phase.