- Jack Dorsey cuts off Brian Armstrong, Marc Andressen, and others from his timeline after igniting a Web 3 feud.
- Dorsey and Musk think that Web 3 is a faulty innovation.
Recently, Jack Dorsey and Elon Musk expressed their ideas that Web 3 is a trick and not as good as its developers say. As a result, many have raised their opinion regarding the matter. On December 21, 2021, Dorsey tweeted that Web 3 is a centralized innovation that gives VCs the right to push their incentives.
This tweet had many reactions and feuds from known Web 3 campaigners and others. As a result, Jack has started an unfollowing spree for the people he feels are misleading the public regarding Web 3. Some of the people he cut off, like Marc Andressen, also cut him off later.
Dorsey starts cutting off Web 3 campaigners from his timeline
The ongoing saga between Musk, Dorsey, and other crypto enthusiasts regarding Web 3 innovation begs the question of how far the internet can be decentralized. Jack Dorsey, the former Twitter CEO, is a known BTC maximalist. These maximalists pay attention to BTC and the non-monetary use of blockchain technology.
Both supporters and challengers of the Web 3 saga revolve around the current condition of the internet, where few large companies dominate. However, maximalists are unhappy with the crowd’s use of tokens to fund projects. To them, the fact that VCs hold these tokens in large numbers is damning since they retain significant influence on these projects.
Dorsey has been on the front line of monitoring non BTC projects as he notices that most of them go against BTC’s initial aims. His views brought him to a boiling position on Monday after he tweeted that Web 3 is poor since its design is to satisfy venture capitalists (VCs) first.
Following his tweet, the former CTO of Coinbase, Balaji Srinivasan, commented that Twitter also forged a different path from its original goals. He added that Web 3 does not offer a guarantee to investors, but it provides the possibility of better results. Dorsey hit back at him, claiming that his allegations were false and ignited a further debate.
Jack Dorsey also retweeted a cartoon depiction of VCs enjoying a stream of water from ETH enabled Web 3 protocols while the investor was waiting for droplets. Srinivasan replied through a quoted text of this post, claiming that ETH had its initial funding through a public sale but not a VC round. Later on, Dorsey posted another tweet claiming that VCs are ailing Web 3. Elon Musk also commented on the same.
Elon Musk also thinks that Web 3 is faulty
Tesla CEO and a vocal crypto supporter, Elon Musk, also thinks that the latest version of the internet is not that good. On Sunday, he said he does not support that Web 3 is that helpful right now away from being just a marketing stunt. However, he said he wonders how futuristic the year 2051 might be.
During the debate between Jack Dorsey and other key crypto players on Twitter, Elon seemingly mocked Web 3 by claiming he needed help to locate it. However, the onlookers can only wait to watch from afar as more details about Web 3 and the decentralization of the internet unfolds.