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Thing3
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Summary
In this Hydra Ventures podcast, hosts Jakub Rusiecki and Victor Rortvedt sit down with Thing3's Danny Carpio and Larry Florio to unpack the story behind Thing3's creation and its transformative impact in the Web3 domain. They delve into how Thing3 addresses the inefficiencies of the traditional professional services model, such as the billable hours system, by introducing a more efficient and equitable decentralised approach.
The conversation also highlights Thing3's critical role in the formation of Hydra Ventures, showcasing their expertise in entity formation, DAO structuring, and compliance. Additionally, the episode touches on the professional community's varying responses to Web3 ideas and Thing3's future goals in the realm of investment DAOs and crypto projects, offering a comprehensive insight into Thing3's innovative influence in the professional services sector.
Show Notes
Timestamp
- 6:16 - The professional services provider's business model and what current problems Thing3 is dedicated to solving.
- 7:17 - Human capital businesses monetisation model, inherent conflict of interest, value distribution and incentive misalignment.
- 13:08 - What new challenges the Web3 industry brings to the traditional service provider model.
- 15:11 - The genesis of Thing3 and how it tackles problems and risks critical to the Web3 industry.
- 18:35 - How to attract the supply side and create the right value proposition to onboard it.
- 20:00 - Thing3 new approach to value creation to redefine professional service business model and the role of revenue component in the new model.
- 22:10 - Thing3 under the hood - membership and operations.
- 23:30 - Leveraging creator economy the parallels to professional service provider business model.
- 25:40 - Thing3 approach to partnering with projects.
- 26:50 - High impact - high-value add - interest alignment as the core of the Thing3 approach.
- 27:47 - Thing3 and Hydra Ventures Origin Story.
- 33:30 - Hydra's innovative governance approach and free-rider problem.
- 36:50 - Lessons for investment DAOs and traditional approaches.
- 38:42 - Thing3 experience partnering with Hydra Ventures and what is special about this collaboration.
- 43:58 - Professional service provider model 3.0.
