Jack Dorsey and Elon Musk express concerns about Web3 because skepticism is growing towards property - news
Jack Dorsey and Elon Musk express concerns about Web3 because skepticism is growing towards property - news
Elon Musk express concerns about Web3, since skepticism towards property grows" loading = "lazy">
The former Twitter CEO Jack Dorsey has lit a debate about Web3 after Tesla boss Elon Musk criticized it. Dorsey warned of the risks of centralization and emphasized that web3 was in possession of risk capital (VCS) that hide under the premise of decentralization. "I am concerned that 'the industry' is distracted under false preliminary walls if we could all work on things that have a chance to solve the real problems," wrote Dorsey.
Jack Dorsey says web3 is owned by VCS, says Elon Musk: "It is somewhere between A and Z"
Jack Dorsey and Tesla CEO Elon Musk expressed concerns about web3 this week. Dorsey Harnt Monday: "You do not have 'web3'. other label.
His comment followed Muskt Tweet a day before that web3 "at the moment seems more of a marketing-buzzWord". The Tesla boss Twittered continued and asked: "Has anyone seen Web3? I can't find it." Dorsey replied : "It is somewhere between a and z."
While Dorsey did not specify which company he referred to, many people on Twitter suspected that he spoke about the Risk capital Society Andessen Horowitz (also known as A16Z), which web3 drove great. "As the largest investor in this area, we know Web3-but we also understand the public service," says the A16Z website.
Some people shared dorssey's skepticism towards risk capital companies. Cory clipped, founder of Swan Bitcoin, commented: "Jack knows exactly what massive fraud a16z is committed." Another Twitter user described: "This tweet refers to the dodgy crypto projects that are financed from the Silicon Valley by the VC company A16Z (Andreessen Horowitz). They create coins like Solana and then use their endless capital to market them, explode in market capital and then throw the coins for unsuspecting People. "
web3 and Twitter
Balaji Srinivasan, a general partner at A16Z, who was CTO of the CryptoBörse Coinbase, contradicted Dorsey and led Twitter as an example. He wrote : "Twitter began as a protocol, the wing of the freedom of expression of the party for free expression. Then entrepreneurial and political incentives Deplat forming and censorship.
Dorsey replied: "Everything wrong. Twitter started as a company. It had incentives for companies from the very day. He stated:
'Web3' has the same corporate incentives, but hides it under 'decentralization'. It is literally a different structure of the cap table.
The former CEO of Twitter, who is still CEO from Block Inc., formerly Square Inc., is also and never was interested in it, although some news articles indicate something else. He tweeted: "I have nothing to do with 'Web3'. WSJ and others need names and photos to generate clicks."
There is a heated debate about Web3
Many people interfered in the discussion about Web3 on Twitter in response to Dorsey's tweets. Some votes Dorsey, including Alex Thorn, Head of Corporate Research at Galaxy Digital, the tweeted :
Jack is right that many Web3 projects have ownership problems.
Thorn continued: "This is very visible in newer L1 chains, the deliveries of which are much more centralized than those from the ICO era (let alone Bitcoin). It is difficult to see how the deliveries (and the administration) of these coins decentralize over time."
Alexander Leishman, CEO of River Financial, wrote: "Jack understands. Web3 will continue to bring in a lot of money to people, but don't be wrong."
Some people do not agree to Dorsey to a certain extent. The founders of the Gemini crypto tour, the Winklevoss twins, joined the conversation. Tyler Winklevoss pointed out to the fact that Dorsey sold his very first tweet as non-fungible token (NFF) for over 2.9 million US dollar. "Brought from Web3," he wrote. His brother Cameron Winklevoss notes :
If web2 could transfer ownership of your data and your privacy, Web2 would have given you ownership of your data and your privacy. Web3 has at least one chance.
Chris Dixon, a partner at A16Z, argued: "In web3, the entire code, the data and the property of Open Source. Read it and decide for yourself. VCS (including A16Z) have very little of it."
"I am concerned that the industry is distracted under false preliminary walls"
dorsey explains in another tweet: "I am concerned that 'the industry' is intercepted if we could all work on things, one Have chance to solve the real problems. " He emphasized that "the VCS are the problem" and "not the people".
ajit Tripathi, CFA and head of the institutional business at AAVE, commented:
Jack indicates a risk that we should recognize. It may not be what we want to hear, but the risk of economic centralization of first-class web3 properties is very real.
Dorsey replied with "exactly".
According to Dorsey, he was then blocked on Twitter by Marc Andreessen, the co-founder of Andreessen Horowitz, who is now a great investor in web3 startups. The former Twitter boss wrote :
I'm officially blocked by Web3.
Do you agree Jack Dorsey and Elon Musk in relation to Web3? Let us know in the comment area below.
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