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October 9th 2014, MENLO PARK, Calif. – The need for a radically new “trust infrastructure” was the resounding theme at a panel discussion hosted today by leading Silicon Valley venture capital firm Andreessen Horowitz, which was organized and moderated by technology start-up Starling Trust Sciences.
Entitled “From Risk Mitigation to Trust Optimization,” the event brought together thought leaders and executives from a number of leading technology companies to discuss the dramatic decline in public trust in government, business, and civil society – and to explore the resulting opportunity for industry innovators to provide solutions.
Reacting to recent studies detailing the dramatic decline in trust in our traditional organizations, Marc Andreessen posted to Twitter: “Lack of trust in institutions motivates [the] construction of competitive alternatives better attuned to We the People.” He argued that, “large centralized institutions were 20th century,” adding that the 21st century demands – and is fostering – the creation of more “flexible, responsive, accountable organizations.”
The ability to create trust among users is critical to disruptive “21st century” businesses such as those in the “peer-to-peer” space. It is equally significant for Bitcoin startups and crowd-funding platforms. And while risk mitigation is important for such companies, it is their ability to optimize trust that provides them with distinct competitive advantages – among users and regulators alike.
The event marked the first public appearance of Starling, a pioneering technology venture that aims to reimagine the ways in which technology can support the cultivation of trust among strangers in order to boost collaborative endeavors and value creation in all walks of life.
Starling CEO, Stephen Scott, observed, “Trust is the foundation of relationships that matter. And our ability to trust and to work with strangers is the basis of value creation and shared prosperity. Seen in that light, today’s trust crisis should be regarded as an opportunity to reimagine how we create trust at scale.”