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Dead wrong.— Mike DAOdas (@mdudas) December 21, 2021
And also dangerous because you pre-emptively stifle the hopes and dreams of the many brave people shaping a truly independent web3.
Has anyone seen web3? I can’t find it.— Elon Musk (@elonmusk) December 21, 2021
fascinating, both @jack and @elonmusk in the same day.— 6529 (@punk6529) December 21, 2021
so this is true and not true, as follows:
a) lots of "web3" label-washing on stuff that is fundamentally centralized
b) but can NFT projects be web3 for real. I think so
c) also, both run 100% centralized companies https://t.co/rlN39rs4OI
You’re a fund determined to be a media empire that can’t be ignored…not Gandhi.— jack⚡️ (@jack) December 21, 2021
The focus on DAOs in web3 is starting to confuse people.@jack is right that a DAO building a web service will inevitably act like to a company.— Sam Williams 🐘 (@samecwilliams) December 21, 2021
This is not the opportunity.
The opportunity is to build web apps that run like protocols -- governed by permanent rules and code. https://t.co/3IMfge7Rnw
I’m giving it all back.— jack⚡️ (@jack) December 21, 2021
A fun detail about the web3 investors noting (via endless tweets!) the centralized nature of Twitter is that many of them actually invested in BitClout, which aims to decentralize aspects of Twitter, but as far as I can tell, none have bothered to post there in many months.— Gabe Rivera (@gaberivera) December 21, 2021
73 million people are about to get access to the DeSo blockchain for the first time: https://t.co/B7mQ71Gjds.— Nader Al-Naji (@nadertheory) December 13, 2021
DeSo will scale crypto beyond finance to a new trillion-dollar category: Social Media
Seeing is believing. Try https://t.co/EuXtzqNUgM or browse https://t.co/FdEIeHTzeC https://t.co/uyjcw0AqHD
Of course, I don't believe Twitter set out to bait & switch devs. Or to promise free speech, get people to invest years in their profiles, then censor them.— Balaji Srinivasan (@balajis) December 21, 2021
But that is where the incentives landed up.
Web3's smart contracts *may* prove more durable than web2's social contracts.
You don’t own “web3.”— jack⚡️ (@jack) December 21, 2021
The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label.
Know what you’re getting into…
I believe in you and your ability to understand systems. It’s critical we focus our energy on truly secure and resilient technologies owned by the mass of people, not individuals or institutions. Only that foundation will provide for the applications you allude to.— jack⚡️ (@jack) December 21, 2021
I have nothing to do with “web3”. WSJ and others need names and photos to generate clicks.— jack⚡️ (@jack) December 21, 2021
you don't "own" bitcoin— Ouriel Ohayon (@OurielOhayon) December 21, 2021
square and their VCs own it for you.
If you own any tokens in any network you are a VC.— J◎e McCann (@joemccann) December 21, 2021
Congratulations on your promotion.
Web3 won't be built on Bitcoin, because get it and let's not argue over the basics, it's not possible. Therefore, Jack will always be opposed to it and try to frame it on morality reasons. Like he never had equity growing up.— Taha Zafar 🦇🔊 (@taha_zafar12) December 21, 2021
The Twitter board also recognized that very fact. https://t.co/Q830kJ4x9p
We agree that Bitcoin has decentralized control of the reserve currency away from the Fed.— Balaji Srinivasan (@balajis) December 21, 2021
We agree cryptography and incentives were key to making that happen.
Web3's bet is that we can do this for all centralized services.
From the slippery slope to the crypto cliff. pic.twitter.com/rSnk4rbqGb
There’s plenty of wealthy crypto libertarians who’re not doing things for money anymore. They’re doing it to bring freedom (including free speech) back to the world. Centralized big tech will never be trusted anymore, they failed at being neutral and protecting basic rights.— Olivier Janssens (@olivierjanss) December 21, 2021
jack's comments lead me to believe that part of the reason he left Twitter may be due to disagreement with investors who want to pursue web3 more aggressively against his objections— dcinvestor.eth (@iamDCinvestor) December 21, 2021
i do think he has some valid points, but also that his rejection is reflexive due to his priors
Good to know Jack sees Web3 as a threat, and is trying to falsely reframe it into the exact opposite. Of course he is absolutely wrong. Web3 is inevitable, and coming fast. It will not only put you in control again, it will also liberate you from centralized big tech censorship. https://t.co/7P87ZZHEdL— Olivier Janssens (@olivierjanss) December 21, 2021
Crypto doesn't disempower money printers - it empowers anyone to be a money printer.— Jameson Lopp (@lopp) December 21, 2021
Be wary of protocols for which a significant portion of tokens / governance / control is held by financial elites.
They may become the next class of cantillionaires.https://t.co/l7ycDXw5zy
Everyone is becoming an investor. And so investors are declining in power.— Balaji Srinivasan (@balajis) December 21, 2021
You have countless options to raise money today, from full crypto to traditional VC to https://t.co/Hh8Ya7hn7i to HNWs.
The point of tech is to self disrupt, and Sand Hill has less power than ever. https://t.co/d9OmnyjHZR
haven't seen people hate something as much as web3 since the last gazillion major technology and consumer behavior step function improvements— Mike DAOdas (@mdudas) December 21, 2021
So much Web3 tweeting is just posturing, and trying to sound like a rebel, and attacking people you don't like. This framework is obviously nonsense, since apparently @jack is an institutionalist, but A16z, Pepsi, Will Willkson, and the Planet Money host are all redpilled. https://t.co/3pGn076XIa— Joe Weisenthal (@TheStalwart) December 21, 2021
Human societies are far too complex to be abstracted away behind a set of smart contracts.— Kelsey Hightower (@kelseyhightower) December 21, 2021
first they ignore you— cdixon.eth (@cdixon) December 21, 2021
then they laugh at you
then they fight you 👈 we are here
then you win
Jack, with all due respect…— Jake Udell | Founder of Metalink 👾⚡️ (@jakeudell) December 21, 2021
Web2 pillaged our data, bottlenecked our reach and sold our trust.
Web3 INCLUDES the community. Aligned stakeholdership exists between projects and communities via tokens. What web2 company “gave” shares to the customers who helped them build it? https://t.co/T5yyMBVK5J
I respect you & everything you’ve built.— Balaji Srinivasan (@balajis) December 21, 2021
I also disagree here. Twitter started as a protocol, the free speech wing of the free speech party. Then corporate & political incentives led to deplatforming & censorship.
Web3 offers the possibility, not guarantee, of something better. pic.twitter.com/NyglFOjrP6
It’s somewhere between a and z— jack⚡️ (@jack) December 21, 2021
🙏 interoperability + more protocols + open source is the path forward, not underlying toll booths everywhere on the web— Aaron Levie (@levie) December 21, 2021
'Bitching about Web3 while a Web2 tycoon' is the new 'I got rich off FB/GOOG/AMZN but I'm going to tell you how it's evil without giving any of it back'.— Antonio García Martínez (agm.eth) (@antoniogm) December 21, 2021
Irony of @jack’s web3=VC comment is projects feel coerced to sell to VCs out of SEC fear of releasing tokens publicly before decentralization. Then maxi messiah Saylor shouts for more regulation on all non-BTC tokens everyday while Jack piles the web3=VC hate from the back. Sad!— Sam Kazemian (¤, ¤) (@samkazemian) December 22, 2021
I’m not anti ETH. I’m anti-centralized, VC-owned, single point of failure, and corporate controlled lies. If your goal is anti establishment, I promise you it isn’t ethereum. Don’t believe or trust me! Just look at the fundamentals.— jack⚡️ (@jack) December 23, 2021
2013: “Bitcoin is a scam”— Ian ✺ (@ianDAOs) December 22, 2021
2015: “Blockchains are a scam”
2016: “Crypto is a scam”
2017: “Tokens are a scam”
2017: “DAOs are a scam”
2018: “NFTs are a scam”
2019: “DeFi is a scam”
2021: “Web3 is a scam”
.@jack has been interacting with a lot of people recently so I’d like to say it’s not just him coping. He has a point… to some degree. But, in the midst of the centralised protocols in the space, there are also decentralised protocols that are possibly only due to Ethereum.— Loopify 🧙♂️ (@Loopifyyy) December 23, 2021
Why was 2021 the year the most powerful people in tech just started going after each other publicly?? @elonmusk @JeffBezos @jack They are each richer and more powerful than ever. But perhaps they are seeking something else: even more attention. Still, don’t quite grok it.— Jessica Lessin (@Jessicalessin) December 23, 2021
I’m the furthest thing from a VC fanboy, but jesus christ bet against A16Z and Union Square at your peril, that’s a losing trade in the aggregate all day every day— Leigh Drogen (@LDrogen) December 23, 2021
There’s no room for this socialist we hate VCs nonsense
I thought crypto people were uber libertarian capitalist?
tfw I remember I am, too, but oddly not from ever interacting with Andreessen but instead I appear to be on some shared blocklist for having crossed his allies and interests. A perverse way to suppress speech. https://t.co/0k3xmzqEvI pic.twitter.com/0zAbkgo2Qk— Jason Kint (@jason_kint) December 23, 2021
Technically with most crypto startups, it's:— Zach Weinberg Tweets Stuff (@zachweinberg) December 21, 2021
first you sell tokens
then speculators mark them up 👈 we are here
then you buy a giant mansion in the Bahamas
then people like me fight you
then you search for use cases beyond speculation
then some tiny subset of the ideas win
Decentralised file storage and decentralised DNS do exist now so we have made progress. But these aren’t easy to use. There’s a long way to go in terms of building tools for users to interact online without relying on Silicon Valley monoculture busybody intermediaries— nicmas cheer (🎄, 🎄) (@nic__carter) December 22, 2021
I dont have a huge following, but if I can impart some advice to first time founders … don’t let VC hype sway you from building what you believe in.— Tim Griffin (@timgriffin77) December 22, 2021
Web3 may be hot right now, but there are so many industries where even basic software can have an outsized impact.
I can’t wait to see examples of web3 apps supporting millions of new jobs and businesses instead of trotting out examples of people getting in early on a token then getting rich when others FOMO in.— Dare Obasanjo (@Carnage4Life) December 22, 2021
Until then, we’re celebrating zero sum transfers of income not new value created https://t.co/vvTAqSwToK
he's painted himself so far into a corner that there's no getting out of it. no point in trying to change his mind with posture like this— dcinvestor.eth (@iamDCinvestor) December 23, 2021
good luck to you, jack
the *decentralized* web3 will be built without you. and in 5 years, your journey will leave you rambling & nowhere https://t.co/9t8zxXlB0T
Raise your hand if you like both Web2 and Web3— Matt Huang (@matthuang) December 21, 2021
And so the result was endless purity tests and split, while the ruthless pragmatists went out and built things in the real world, for better and worse...— Benedict Evans (@benedictevans) December 23, 2021
Marc Andreessen blocked me too. Blocking @jack for the attention/discussion/headlines is one thing, but I can't imagine him manually taking the time to target me. I think he's filtering with a script or using an automated blocking tool. pic.twitter.com/MPEOTIrjbu— Emil Protalinski (@EPro) December 22, 2021
The whole point of something being decentralised is that you can’t stop these VCs coming in. If you could, it wouldn’t be decentralised. It’s hard to see if you look at Bitcoin but it’s 2 different things. The deeper you look into Web3, you’ll realise.— Loopify 🧙♂️ (@Loopifyyy) December 23, 2021
First they ignore you— Preston Byrne (@prestonjbyrne) December 22, 2021
Then they laugh at you
Then you quote Gandhi
Then you get rekt by Jack Dorsey
Yes. Many things will cause more splitting of of groups:— Aaron Levie (@levie) December 23, 2021
* how much decentralization is enough?
* what goes on chain or off?
* which L1/L2 mix is right?
Every one of these decisions has to be agreed upon collectively, and every one impacts the UX and consumer adoption
Twitter arguments about what web3 & crypto might be, the ways the internet evolved in the past, and how to think about how new technologies evolve, are all very interesting... but sometimes feel like displacement from the scarcity of any actual fucking products to argue about.— Benedict Evans (@benedictevans) December 22, 2021
the bitcoin / web3 feud is stressing me out can everyone please just calm down, damn— Mike Solana (@micsolana) December 21, 2021
Tech (and finance) media should really ask themselves why it matters more to them that Jack Dorsey echoes a criticism that countless others have said before, for years, at much greater personal risk. Reality isn’t contingent on what tech tycoons validate.— Anil Dash (@anildash) December 23, 2021
Web 1.0: Create a profitable company that delivers value to customers & investors.— Dare Obasanjo (@Carnage4Life) December 23, 2021
Web 2.0: Create a company that delivers value to customers & investors.
Web 3.0: Create a company (or token) that delivers value to investors.
The VCs are the problem— jack⚡️ (@jack) December 22, 2021
*not the people
Web3 kings of A16Z— Alex Danco (@Alex_Danco) December 22, 2021
Bring us gifts of rare NFTs
Holding tokens, quite outspoken
Yet I can’t see their tweets
You’re missing all the points. I’m telling you I’ve learned from the issues taking on VCs creates. Block *had* help from VCs yes. But ones that know their place.— jack⚡️ (@jack) December 23, 2021
“we invest in software eating the world”— jack⚡️ (@jack) December 22, 2021
1/ Been thinking a lot about the relationship between web2 and web3. Feels a lot like the first vs. second industrial revolutions.— Doug Colkitt (🐊,🐊) (@0xdoug) December 21, 2021
The second industrial revolution wasn't successful because it rejected the first. It was a force multiplier on stacked *on top* of the first https://t.co/IM3vWOBgs0
The repeated mantra of web3 is that it’s egalitarian because earlier adopters get get shares (tokens) but in traditional startups only insiders do.— Dare Obasanjo (@Carnage4Life) December 23, 2021
The incentive of a Facebook or Google is to build useful products that lots of people use. For web3, it’s getting tokens pre-FOMO. https://t.co/ZQa2FDEim8
❤️ all philosophy debates.— Aaron Levie (@levie) December 23, 2021
The web is not broken. You primarily point to flaws of Twitter, Facebook & Google.
That is not the web. Those are some successful sites. We also have Airbnb, Spotify, Netflix, Shopify, Zillow, Slack, Airtable, Figma, and millions more.
the bifurcation in tech between quality/garp on one side and hyper growth/shitco/out of favor on the other is quite something. also amusing to see who has been slotted into the second basket.— modest proposal (@modestproposal1) December 23, 2021
I think ICO era was much fairer than current web3, which mirrors web2 incentive structures. Current founders’ need for balancing reg risk w execution velocity means they raise privately from VCs & retail is late, similarly to web2. ICO era gave fairer terms to all but more risk.— Cobie (@cobie) December 22, 2021
hey VCs i made a web3 thing 8 years ago can you give me money thanks— Shibetoshi Nakamoto (@BillyM2k) December 23, 2021
A cool theory of Web3 is to combine users and owners. The risk is misaligned incentives between users depending on when they joined, which leads to unstable networks: do I want prices to go up or down? do I want more or less scarcity? do I defect to a new network if prices fall?— Aaron Levie (@levie) December 23, 2021
Venture Capital is crucial to any healthy society and one of the bedrocks of capitalism.— Tuur Demeester (@TuurDemeester) December 22, 2021
However, modern, hype driven, growth obsessed, exit focused attention deficit Venture Capital is an economic sarcoma caused by chronic inflationism. https://t.co/jHhcQDaZ5i
jack: lives in silicon valley. is a technology ceo. his companies raised millions in vc. loves nasdaq tickers.— santi.eth 💧 (@santisiri) December 23, 2021
vitalik: digital nomad hanging with devs in argentina. has no title or power over ethereum other than his voice. didn’t raise a single penny in vc. loves crypto tokens https://t.co/O6CvEta0Fv
Trying to make sense of this BTC/Web3/Jack civil war all day via various conversations, and now convinced that in some distant crypto-transhumanist future, this will be like the Sunni/Shia split in Islam, we just happen to be living through it.— Antonio García Martínez (agm.eth) (@antoniogm) December 22, 2021
Big tech like Twitter have done more harm to the society than all VCs in the world combined in terms of invading privacy, eroding free speech, and centralizing power. The only reason why I’m still on this site is because there’s no decentralized alternative and I’m ashamed of it.— Qiao Wang (@QwQiao) December 23, 2021
The theory for the left was always that if you're building paradise, and you think you have a comprehensive scientific theory for how every part of that will work, the details are really important and anyone who argues with you wants to stop paradise from happening...— Benedict Evans (@benedictevans) December 23, 2021
I think the intention of @jack is to snap people out of their 'community' echo chamber and help them see what's actually happening— rhêtorík.eth (@djrhetorik) December 23, 2021
people are measuring the success of Web3 within Web2 parameters - corporate adoption, VC funding, etc. - when that is NOT the ethos of the space
Web2 owners trying to block Web3 advancement, claiming it is owned by VCs is really ironic and misguided.— Eric Anziani (@ericnode) December 23, 2021
We should focus our collective energy on building the infrastructure that allows the value to be better shared between creators, builders and users 🤝
Like, I have no idea what I said or did!— Nathan Baschez (@nbashaw) December 22, 2021
I was the first employee at one of his portfolio companies, this fall I wrote an essay that was published in his firm's publication, and I am polite and civil probably to a fault
And yet... pic.twitter.com/ixytuFQldh
Oh the irony of the web3 debate raging on a web2 platform.— Tyler Winklevoss (@tyler) December 22, 2021
Reminder: you don't own or control the tweets that you are tweeting. I support any technology that has a chance at changing this.
I care only about decentralized, secure, private foundations without single points of failure. And I’m focused on that.— jack⚡️ (@jack) December 23, 2021
An internet where users run their own servers, have genuine digital property rights, have seamless internet native payments, and don’t have to register with a 3rd party just to use a chat app is a much better internet than the one we have today.— nicmas cheer (🎄, 🎄) (@nic__carter) December 22, 2021
I started my first startup by building on top of Twitter, FB and Insta APIs (they invited us to build on their APIs)— Nischal (WazirX) ⚡️ (@NischalShetty) December 21, 2021
When these platforms grew & wanted to monetise, each of these platforms REVOKED API access
No VC or founder can do that to another developer on Web3 ✌️#WEB3 https://t.co/jP1DjdcUxM
alt: minting pmarca blocks as NFTs that are required for entry into an exclusive Discord community of crypto heretics— Casey Newton (@CaseyNewton) December 22, 2021
Web3 solves this— Aaron Levie (@levie) December 22, 2021
ffs hundreds of millions of small businesses using fb tools. over half of amazon products come from small / medium-sized businesses. ride-sharing. home-sharing. an entire new media ecosystem. the list is endless. we don’t need to nuke reality for the new thing to also be cool. pic.twitter.com/2EDAfCwtqG— Mike Solana (@micsolana) December 22, 2021
Lots of people watching the @Jack vs @a16z handbags seem to have conveniently forgotten relevant backstory. Such as @Twitter directly copied @Clubhouse. Or that ever since the founding of Twitter, Jack has disliked VCs.— James Clark 📈📉¯\_(ツ)_/¯ (@mr_james_c) December 23, 2021
This is way bigger than BTC vs Web3.
Web3 gives us the tools to build a new way.— Cobie (@cobie) December 22, 2021
The state attempts to keep the balance of power the same as it has always been.
The SEC is a lobbying firm for VCs; fighting for privatising profits and maintaining the house edge against retail participants.
The misguided rhetoric of web3 is that the purpose of projects and companies is to enrich insiders. So web3 is better than Web 2.0 because the circle of insiders is expanded to include early adopters.— Dare Obasanjo (@Carnage4Life) December 23, 2021
This is a bleak and zero sum view of the world encouraged by VC culture.
Selling shares is a means to an end, funding & motivating employees building world changing software. Web3 people are enamored with tokens as a faster way to mint shares and get to financial liquidity, independent of the software’s impact.— Dare Obasanjo (@Carnage4Life) December 23, 2021
That’s why VCs love it. Skip to the end
FANG etc get 0 credit for quietly moving massive cohort from lower to upper middle class via RSUs/employment, has to be >100M people owning equity directly/via index; partner ecosystems, agencies, consultants, developers, etc. Find it weird crypto folk (& media) gloss over this.. https://t.co/7TbbssRtB5— Adam Singer (@AdamSinger) December 23, 2021
in Web3, is a project's success brand adoption, or is it unique users/holders?— rhêtorík.eth (@djrhetorik) December 23, 2021
is it VCs with seemingly unlimited capital throwing cash at every idea until something sticks, or is it thousands of everyday people throwing half their paychecks into projects they believe in?
ethereum, the core infrastructure of web3, was passed on by nearly every vc in the world and raised funds from the public— Mike DAOdas (@mdudas) December 23, 2021
period, end of story
How about the future of the web is just:— Aaron Levie (@levie) December 22, 2021
* more interoperability
* more open standards & new protocols
* richer, more immersive apps
* multiplayer everything
* more APIs to leverage
* more open source contribution
* more monetization options
* more voice, video, and media
The timing coincidental, but @jack's anti Web3, anti A16z rampage comes just after @cdixon told me he expected to be off Twitter in 2 years.— Joe Weisenthal (@TheStalwart) December 22, 2021
But I do think at this point, @Jack's allegiance is more to Bitcoin than it is to twitter. pic.twitter.com/8tWqDpuQyc
I know hundreds of normal people financially free thanks to web3. Not VCs. Not founders. Just people that farmed airdrops and bought some tokens.— Cobie (@cobie) December 22, 2021
Don’t know anyone that is financially free thanks to web2 except founding teams and financiers.
The problem is not VCs or 'the people'. It is the universal, inevitable corruption of vision that emerges in web2 companies.— Sam Williams 🐘 (@samecwilliams) December 23, 2021
Companies exist simply and distinctly to make money for their shareholders.
The solution is simple.
Protocols: immutable, incorruptible services. https://t.co/aYxIuVWQ6m
Web2 shovels advertisements down the throats of regular people in exchange for storing their photos & private messages. They take $100 per active user from ppl selling whatever and you get fuck all.— Cobie (@cobie) December 22, 2021
They sell private fundraising to VCs for a decade before you can own any.
But still not possible to ignore that regular people could become millionaires this year by doing nothing except using new products and receiving airdrops. No investment required, just using new things. Users were rewarded with ownership for being users.— Cobie (@cobie) December 22, 2021
if u think everyone in web3 has a16z money (or vc in general) its because you are stuck in a sv filter bubble.— nnnnicholas.eth⛱👘 (@nnnnicholas) December 21, 2021
web3 has been able to fund projects without vc deals for many months if not years.
Yo @Jack I promise if you look outside of your bubble of rich dudes you’ll see that there are creators actually building web3 and a whole revolution in the form of digital renaissance. Come say hi or listen in on our conversations, the NFT space is filled with geniuses.— Farokh.ethᵍᵐ (🆘,🆘) (@farokh) December 23, 2021
Marc Andreessen giving up on actual tweeting but getting really into blocking is an all-time great Twitter bit. Telling an entire story entirely by who you block, and that story reaching large numbers of people: the man is absolutely sui generis.— Tom Gara (@tomgara) December 22, 2021
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