In 2018, Airbnb requested the SEC to allow them to issue stocks to its hosts. While the SEC did not allow this citing regulatory vacuum in this area, the idea needs to be appreciated. Hosts who took a leap of faith and started Airbnb are the backbone behind what makes it so successful. The idea was unconventional, but these early users saw potential in an idea others didn't dare try - they were willing to put their name out there without worrying about the conventional question "who will let somebody else stay on your couch?" This idea is worth billions of dollars today.
Who captured the most value? The shareholders did. The Investors and some hard working employees (who received ESOPs) also captured a lot of it but no hosts or guests, not the ones who bragged about this cool concept, though all of them did help build this venture. This isn't necessarily a problem with one particular platform; rather, our economic model for organizing "Organizations" is at fault here.
In one perspective, this is what Web3 intends to disrupt - it helps reward anyone who contributes; there are no gatekeepers or even gates! When the true power of web3 is unleashed, even ordinary people can build powerful organizations by just one thing - alignment of philosophy and purpose - paving the way for community owned organizations.
Web 3.0 is the ultimate disintermediation of company structures with tokenization at its core; distinctions between roles are blurred or eliminated altogether as everyone can be rewarded for their contributions, no matter how small they might seem. The Web 2.0 business model has always thrived on playing the trusted intermediary roles, but web 3 will allow for self-governing customer networks that can be built around philosophy and purpose - one where code rules supreme!
We developers love the idea of Web3, because it opens up an entire world for us to build on. The more people who can scale without needing trust or any other unnecessary relationships; this gives rise into endless possibilities in what you could create. Web 3 will soon disrupt every area around us, maybe even your favorite industry?
Logiticks is a software development company that focuses on building solutions in Web3. If you are a Web3 builder, you may reach out to us on firstname.lastname@example.org.