[cryptica]

I think in terms of learning it's true up to a point. I don't think it makes sense to move to a big city for financial reasons though.

You'd think it creates a competitive environment where the best talent rises to the top but this is not the case.

What I've found instead is that the environment is competitive to the point that everyone is focused on politics and social manipulation; for example trying to claim credit for other peoples' work to get promoted or making friends with the founders. Top level managers are not capable of identifying talent and seeing though all the political BS; they fall for it over and over again but it doesn't matter because they're friends with millionaire investors so they can keep raising money even after their company fails.

It feels like behind every powerful person in a position of power, there is either a rich friend or a rich daddy.

That's why I'm into blockchain now, I'm tired of this nepotism. I want to participate in creating a new industry in which human nature can be factored out as much as possible.

[simonebrunozzi]

I don't really see the connection between being into "blockchain", and avoiding nepotism.

Also, the issues you mention (being friends with millionaire investors, etc) might be very specific to Silicon Valley / San Francisco, and less about other "alpha" places?

[rmah]

Sorry, but nepotism, politics and connections are even more important in the cryptocurrency/blockchain industry than in traditional tech or even finance. In crypto/blockchain it's ALL about who you know. And the lack of good regulation means that good contacts can get your firm advantages that would literally be illegal in the traditional finance world. I guess the only real distinction is that the industry is spread out more and not centered in one or two cities.

[cryptica]

>> it's ALL about who you know

If you want a hyped up ICO, yes it has been like this and that's why there are so many crappy projects with a high market cap right now but this is changing.

Ultimately, cryptocurrencies which are backed by real value are the ones which are going to stick around. Right now the ecosystem is mostly still founded on hype but all that hyped up money needs somewhere to go so there are a lot of opportunities even if you have very limited connections.

[pnutjam]

It's just new, so there is room for newcomers. It's not different.