For me, we have to understand what we can influence today while staying laser focused on growing the protocol. The engineering community for smart contract engineers is relatively small and everyone talks. While some engineers will work more cheaply, the good ones know their value and will ask for it. Just about all of leading companies in the DeFi space are competing for the same engineers. That is our current reality and supports my prior comments.
I’ve hired product and engineering talent for several decades. A tactic to help with our hiring challenges is to recruit from outside of the crypto/blockchain industry. Sure there will be a bit more training upfront but it helps us increase the supply of engineers and just not draw off of the same pool that everyone else is using. I believe looking at this as a long-term program is in our best interest. It’s why I am proposing two temporary slots in the CES core unit to help with this effort, MIP39c2-SP12: Adding Collateral Engineering Services Core Unit.
The big question is, how do we attract and retain new engineers and other key people into our ecosystem? First I have to create opportunities which is a central concept of the CES core unit since we’re not onboarding a fully populated team. Next, I have to provide market rate compensation, benefits, and incentive structures so that I can attract all levels of technical talent into our industry, and last, I need to reduce the risk for working in this industry. The last point is tricky since it’s one thing to work for a startup (and most of us understand those risks), it’s another thing to work for a startup in the DeFi/crypto industry. It’s one of the reasons I’m trying to build in some level of predictability in the CES core unit by working on cycles representing a quarter, 1/2 year, or full year. Plus, the early execution of most core units will be around establishing the core unit, hiring people, and learning how everyone will work together.
Without growth, there isn’t a conversation about what happens in the future. The best answer is, we’ll figure it out. Why do I say that? I worked for Microsoft when it was a $400M USD company. I can’t tell you how many millionaires (and billionaires) were minted in the following years due to the rapid growth of that company. Now we’re in 2021. Are millionaires still minted at Microsoft? Sure but probably not at the same rate or timeframe as in the past. As companies mature, they provide many opportunities for solid talent to work at these companies with above average compensation and greatly reduced risk. If we execute correctly, we’ll follow the same path.
As a primary focus, it must be on scale and growth of the protocol. Let’s focus on that vs. we only have a certain amount of money to spend. We can get more money to spend if we have to and thinking anything less is scarcity mentality.