Twitter founder Jack Dorsey complains about 'Web 3' and gets into a heated debate with Elon Musk


by TED Conference

Former Twitter CEO Jack Dorsey has been arguing with investors, complaining about the decentralized Internet 'Web3, ' which has become a hot topic in recent years. Elon Musk also participated in the debate, showing great excitement.

Musk and Dorsey Blast Web3 as'Centralized' Gimmick Controlled by Venture Capitalists --Decrypt
https://decrypt.co/88978/dorsey-musk-web3

Jack Dorsey says VCs really own Web3 (and Web3 boosters are mad) --The Verge
https://www.theverge.com/2021/12/21/22848162/jack-dorsey-web3-criticism-a16z-ownership-venture-capital-twitter

Web3 is an idea of the next-generation Internet that aims to develop services using the decentralized technology used for cryptocurrency assets as a board. With the spread of Web3, the service will break away from the control of large companies such as Google and Amazon. It is said that the providers of will be able to profit.

About this Web3, Mr. Dorsey posted a tweet saying ''Web3' is not for everyone, but for venture capital (VC) and investors (LP)', and decentralized technology should be the basis. Condemned the fact that Web3 is actually managed by some investors.




In addition mask he said after a few hours of Dorsey's tweet as 'Do you have people who've seen the Web3? I do not find' post . In response to this post, Dorsey replied, 'It's somewhere between a and z.' This 'between a and z' is said to indicate the venture capital 'Andreessen Horowitz (a16z)', which is heavily involved in decentralized technology, such as establishing a fund specializing in the crypto asset field.



Also, a16z's general partner, Chris Dickson , said immediately after Dorsey's tweet, 'First they will ignore, then laugh, and then challenge. (the famous phrase as a win but 'that Gandhi quote is actually not in the remarks of Gandhi ) that Web3 by reference is in the growth stage appeal was. 'You are an investor determined to build a Medes empire, not Gandhi,' Dorsey replied.



In addition, another user pointed out that Dorsey was described as a Web3 billboard in an article about Web3 published by The Wall Street Journal (WSJ) on December 18, 2021. 'I've never been involved in'Web3'. WSJ and other media use it to earn clicks on my names and photos,' he said, denying his involvement in Web3.



The dispute between Dorsey and the user continued, and on December 22, 2021, he quoted and retweeted a caricature showing that most of Web3's profits were being returned to Silicon Valley investors.




·bonus
Dorsey denies any involvement with Web3, but not the distributed technology itself. In fact, Mr. Dorsey has been actively involved in Bitcoin, showing interest in developing a Bitcoin mining system and announcing the development of a decentralized Bitcoin exchange. In addition, Mr. Dorsey's Twitter account self-introduction is '#bitcoin', which shows the high level of interest in Bitcoin.



In addition, on December 21, 2021, rapper Cardi B responded to the question 'Do you think crypto assets will replace the dollar?' increase.



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