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Elon Musk takes a dig at Web 3.0 and calls it “BS”

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TL;DR Breakdown

  • Elon Musk outrightly rejects the idea of web 3.0.
  • Sam Altman predicts 2010-like returns in Web 3.0.

Web 3.0 – An Introduction

Web 3.0 is a new idea that brings new developments to the internet. The span of more than three decades of the internet has made it possible to make a much better web world which is named Web 3.0. As the need for the internet has grown, it has led to the incorporation of new technologies to ensure a much better experience.   

Web 2.0 has ensured that the informational needs are fulfilled and has also opened ways for education, finance, banking, health, and other domains. As all these are integrated into a new space, we have the opportunity to see the evolution of the web.

In the first phase, Web 1.0 wasn’t interactive, and the user had limited choices. The second phase made it much better by giving the user much more freedom and facilities. Web 2.0 brought blogging, unique personal identities, and the facility to speak to the world. It was a big leap in human development, but the highs are yet to be achieved.

The next leap would be Web 3.0, as it would integrate the available and emerging technologies. This integration will democratize the internet, enhance it, and make it more user-friendly. Some of these changes are visible, while others are yet to be made possible. It is the blockchain system, virtual reality, and some other features that will make the face of Web 3.0.

Social media is another wonder that Web 2.0 has brought with it. It is long-awaited what will its 3.0 version will bring. Many are debating about it, but it remains to be seen what are the results. Sam Altman, an entrepreneur, and CEO of OpenAI, has tweeted about Web 3.0. Here is a brief overview of it.

Sam Altman’s Tweet

Sam Altman tweeted about the upcoming version of the web, comparing it to the boom in the 2010s. He called the Web 3.0 venture industry ‘dramatic’ because of its ‘over-performance.’ He showed cynical views of the upcoming web version because of too many expectations.

According to Altman, the returns that this investment might bring would be resemblant to the 2010s, not changing anything tremendously. It might be the hype that has been associated with the idea of this new version of the web that is attracting this much attention and investment.

The fact is that new technologies needed for the next generation of the web are under development, and these will definitely bring revolutionary changes in human life. The way tech ventures portray it is not the whole reality, and it might take time to develop those ideas. So, currently, web 3.0 might be away than we expect it to happen. Even if it happens, it might not be the version that we have been shown.

AI, decentralization, and edge computing are the future of this version of the web, and it might take time.

Elon Musk takes a dig at Web 3.0 and calls it "BS" 1
Source: Pixabay

Elon Musk’s Reply about Web 3.0

The interesting fact about Sam Altman’s tweet is Elon Musk’s reply, who outrightly rejected Web 3.0 and called it BS. He replied: ‘Web 3.0 sounds like BS.’ There are no clear reasons for calling it BS, but users are speculating if it is a marketing idea. The sarcastic tone hasn’t expressed clear thoughts from Elon Musk’s side.

He might have plans to promote it and have taken an alternative route. Or he might have been disappointed by the idea of Web 3.0 and its ongoing developments. Many users asked for reasons, but Musk didn’t reply. It is yet to be seen what it will bring.

Final Thoughts

Musk’s outright rejection of Web 3.0 might have reasons. There is no possibility that it would have been said purposelessly. It is yet to be seen if he meant it literally. There is an eager wait for the launch of web 3.0 and the changes it will bring. It is also awaited what Musk’s reply to this tweet will result in, a fact or some business trick.

Haseeb Shaheen

Haseeb Shaheen

As a Web Researcher and Internet Marketer, Haseeb Shaheen delivers relevant valuable content for audiences. He focuses on financial and crypto market analysis, as well as technology-related areas that help people change their lives.

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