Elon Musk & Jack Dorsey Take a Stand Against Web3
In a nutshell: Two tech titans shot down the idea of Web3 and slammed venture capital backing, especially from the likes of Andreessen Horowitz.
The Twitter Exchange That Sparked a Debate
- Elon Musk, mythical CEO of Tesla, tweeted: “Has anyone seen web3? I can’t find it.” (Dec 21)
- Jack Dorsey, former Twitter head, replied: “It’s somewhere between a and z.” No further explanation, leaving fans guessing.
Why Web3 Matters to Some
Blended from blockchain and upcoming crypto platforms, Web3 promises user ownership in services—think a democratic version of the internet where regular folks can hold stakes. Proponents picture a world where giants like Meta and Google shrink, and everyone gets a slice.
Dorsey’s Two‑Minute Manifesto
On Monday night, Dorsey tweeted: “You don’t own ‘web3.’ The VCs and their LPs do. It’ll stay centralised under a new label.” His words sparked thousands of likes and retweets, but also a sea of dissent.
When a critic suggested the mutter‑phrase stifles visionary hope, Dorsey replied: “We have bigger issues if a tweet stifles hopes and dreams. Critique can help fix or redirect energy elsewhere.”
What Big Tech Companies and VCs Are Saying
- Andreessen Horowitz (a16z), founded by Marc Andreessen & Ben Horowitz, has heavily funded crypto, NFTs, and the metaverse.
- Others await comment, but the general sentiment is that Web3 is tossed around as a buzzword— often too broad to define properly.
Where It All Coalesces
Web3 sits beside flashy trends like NFTs and the metaverse, helicopters chasing the next big tech wave. Meanwhile, the real question is: Can a shiny blockchain truly create a decentralised playground, or is it just a new label for old corporate agendas?
