Jack Dorsey and Marc Andreessen have been trading blows over Dorsey’s controversial web3 tweet posted Tuesday morning, and the entire thing has now resulted in Andreessen blocking Dorsey on Twitter.
It all started with Dorsey putting out a controversial tweet about the up and coming web3 technology, stating that web3 is owned by its VCs and LPs and will never escape their incentives, really downplaying the whole decentralised web3.
The tweet received wild reactions from the public and fellow tech giants, some in support, some not so much. Tesla and SpaceX founder Elon Musk hopped on to the discussion asking if anyone has seen web3, to which Dorsey replied, “it’s somewhere between a and z” — a clear dig at Andreessen Horowitz, also known as a16z.
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Decentralised or not?
You see, web3 is a term for decentralised, blockchain-based systems that are meant to replace the internet as we understand it today. It has gathered a lot of attention and funding this year. Andreessen has been quite vocal about his support, not to mention investing in tokens, Defi projects, metaverse sneakers and just about anything that catches his eye.
Currently, NFT trading platforms based on Etherium and Solana blockchains are the best-implemented examples of this, with more and more companies continuing to push for the development of decentralised apps and even games.
The entire idea of web3 is that blockchains and cryptocurrency systems will allow users to own the next generation of services, apps and games instead of tech giants such as Google, Apple, Meta and Amazon. Ideally, this should let anyone make money on the internet and control the things they do online and not be helpless in the face of the aforementioned tech giants.
Has Jack hit the bull’s eye?
Dorsey’s statement that VCs and LPs own web3 and hence is “ultimately a centralised entity” essentially indicates that the entire concept of web3 is a lie. Moreover, by pointing the finger at Andreessen, he has not only hit some of the biggest companies (and investors) in the space but also has dismissed Chris Dixon, a partner at Andreessen Horowitz who keeps going on about just how great web3 is and is considered one of the leading voices of the movement.
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