"The Promise of Peer-to-Peer Credentials: Unlocking Talent Discovery at Scale"

"The Promise of Peer-to-Peer Credentials: Unlocking Talent Discovery at Scale"

Think of the best people you’ve ever worked with—your endorsement of them is a credential that you haven’t yet created. This is where the promise of peer-to-peer (P2P) credentials comes into play. P2P credentials have the potential to supplement and unbundle the traditional college credential, opening up new opportunities for talent discovery.

Consider the scenario where you didn't take someone seriously until someone you respect vouched for them. How many missed opportunities are there because people lack access to this valuable information? The first angel investors in Facebook hold a significant amount of status, but what about the individuals who discovered Mark Zuckerberg even before these investors? They may not have had the capital to invest, but they invested their social capital. Being the first to believe in someone can be just as valuable as being the first to invest financially.

The concept behind P2P credentials is that individuals can cosign others and express gratitude towards those who have cosigned them. This behavior has proven to be viral on platforms like Twitter, where people want to thank those who have helped them, building relationships and boosting their own status. In a world where talent is globally distributed and confidence in traditional credentialing institutions is diminishing, a cosign can make all the difference.

But why haven't P2P credentials taken off before? The challenge lies in the existing LinkedIn recommendations. While they serve a similar purpose, they lack scarcity and signal. LinkedIn recommendations can be freely given without consequence, as there is no cost associated with endorsing friends left and right. P2P credential platforms like Cosign would introduce scarcity into the equation, ensuring that endorsements hold more weight.

Additionally, there is currently no way to "rate the raters" on LinkedIn. Cosign would need to address this issue by providing a mechanism for users to evaluate the credibility and expertise of those who cosign others. While some may argue that individuals would keep proprietary information to themselves, especially when hiring or investing, history has shown that sharing information and blogging have become widespread practices. P2P credentialing could follow a similar trajectory and enable P2P marketplaces.

The introduction of P2P credentials will not only empower individuals to discover talent but also facilitate the growth of people search engines and matchmaking companies. These platforms will enable more people to find their people, connecting individuals with shared interests and skills. It will democratize talent discovery at scale, allowing anyone from anywhere in the world to uncover the next Mark Zuckerberg or Sheryl Sandberg without having to write a check.

In conclusion, the engagement hierarchy is an essential aspect of product growth. Growing the user base is important, but it becomes empty calories if users are not completing the core action of the product. The core action is the very foundation and essence of a product, such as pinning on Pinterest or tweeting on Twitter. Without users actively engaging in these core actions, the momentum of a product will quickly fade.

To ensure sustained growth, it is crucial to optimize for the number of users completing the core action. This entails creating a good new user experience, fostering engagement through features like following, liking, and replying, and educating users on how to effectively use the product. Prioritizing the growth of core actions will lead to a more meaningful and fulfilling user experience.

In light of these insights, here are three actionable pieces of advice:

1. Focus on the core action: Continuously analyze and improve the user experience around the core action of your product. Make it intuitive, seamless, and rewarding for users to engage in this action.

2. Encourage peer endorsements: Implement a system that allows users to cosign others and express gratitude towards those who have cosigned them. This will not only build relationships but also add credibility to the endorsements.

3. Embrace P2P credentialing: Stay ahead of the curve and explore the potential of P2P credential platforms like Cosign. These platforms can revolutionize talent discovery and enable individuals to unlock opportunities without solely relying on traditional credentials.

By incorporating these strategies, you can unlock the promise of peer-to-peer credentials and create a more robust and engaging user experience. Talent discovery will become democratized, allowing individuals from all walks of life to connect, collaborate, and thrive in an increasingly interconnected world.