The New Work Zeitgeist: Change or Die
Originally a thread on X/Twitter:
The world is undeniably a different place than it was a few years ago. There’s been a profound shift in people’s preferences, especially when it comes to “work”.
We’re quickly entering a change or die moment so ignoring the Zeitgeist of society is akin to playing with fire.
Society’s “Zeitgeist” is such a major driver of the changes that are afoot so it feels appropriate to start with a definition:
Zeitgeist: The defining spirit or mood of a particular period of history as shown by the ideas and beliefs of the time.
Societal influences fall into one of a few major categories: Politics, economics, social trends, cultural trends and religion.
Each of these can shape a society’s Zeitgeist, so given the past decade’s significant events, it’s not a surprise that the sprit of society has shifted.
Companies need to understand that these changes have had a profound effect on what workers care about.
And today’s labor shortage is allowing talent a strong say about how companies are run. They seek to work at companies where there’s a strong alignment in values.
Major changes over the past decade include:
OWNERSHIP
I deserve more than just a salary and a benefits package. I should have a significant ownership interest in the value created by my effort.
INPUT
My ideas should be taken seriously based on their merits not solely based on my credentials
MISSION
I want to work on things that I believe in and things that I enjoy. I don’t want to work for companies that make the world a worse place.
FLEXIBILITY
Getting the work done is what matters but how it gets done shouldn’t matter. Fixed location and hours are a thing of the past. And having the ability to work for more than one company at the same time is very attractive.
SPEED
Patience is no longer a virtue. Anything that slows down progress makes work less interesting and more bureaucratic. Layers of decision makers who govern rigid processes and procedures could drive me to resign.
Today’s companies need to understand this bingo card and carefully adjust how they operate.
This creates an opportunity for startups to disrupt incumbents because where talent flows innovation flows. If incumbents can’t hire and retain talent they’ll eventually lose the race.
What follows are examples of 2 companies navigating the Zeitgeist in very different ways.
@TeamsharesInc is an example of a “traditional company” delivering a solution aligned with these trends.
@twalixyz is an example of a “web3 company” designed around today’s talent pool.
TEAMSHARES
Teamshares’ value proposition is simple on the surface. It helps small business owners sell their businesses when they’re ready to retire. But an important piece of their value proposition is that they transition the company over time to become employee-owned.
How it works:
A business is sold to Teamshares
Teamshares hires a Leader to run the businessæ
The Leader is granted equity in the business and Teamshares retires its shares as EBITDA is generated
Ownership shifts over time to the Leader and the company’s employees
Transitioning ownership of a business from a single owner into the hands of the employees that work at the company is aligned with the shifting preferences of society. If managed correctly, it will help every aspect of the business model.
The Teamshares’ model aligns interests for all counterparties. Owners will hopefully see that Teamshares is the best solution for selling their business because it respects what they’ve built and rewards employees who helped them along the way.
Teamshares could act as the catalyst that helps transition last generation businesses into today’s world.
Employee ownership becomes a business owner’s retirement legacy. The announcement day is a day of joy where they can share the news that everyone is an owner.
And it shouldn’t surprise anyone to learn that many businesses benefit when its employees are owners. Employees are more productive and make fewer mistakes. They surface ideas and squash problems. They’re happier and treat customers better.
TWALI
Twali is building a decentralized marketplace for non-technical experts. They aim to abolish the consulting industry with a “web3” labor model. In their own words:
“From the moment you start contributing, you own it with us. Together, we can destroy McKinsey.”
Twali is challenging the expectations that talent should work at a single company and accept that growth is tethered to a specific employer.
They’ve adopted a “web3” viewpoint that plug and play should be the norm. Talent should work where and when it’s most useful.
From a structure standpoint, Twali is a DAO. The moment members start contributing is the moment they start owning.
They’re flipping the traditional consulting model on its head by offering ownership on day 1 instead of decades into an expert’s career.
Anyone from anywhere with any background at any age will be able to build credentials on Twali.
Talent and experience matters, but Twali aims to be a structured meritocracy rather than a hierarchical gerontocracy.
Working on multiple projects across multiple companies means that an expert gets to expand their experience set quickly.
Most people enjoy and benefit from variety so this is seen as a major upgrade to today’s system. To Twali, the future of work is freedom.
To be perfectly clear, both Teamshares and Twali are societal experiments with futures still-to-be-written. Their value propositions are designed to align with society’s shifting preferences but both have unknowns that need to be worked out as they scale.
With this said, I’m personally optimistic about both. @QEDInvestors is an investor in Teamshares and I’ve found @cokiehasiotis (the Founder of Twali) to be both a talented entrepreneur and a great sounding board for how today’s generation thinks.
But only time will tell….!!!!
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