Jack Dorsey takes aim at Web3

Bitcoin enthusiast and Block CEO Jack Dorsey recently took to the service he co-founded to voice his disagreements with Web3 technology and venture capital firms like Andreessen Horowitz.

Jack Dorsey takes aim at Web3

Following his resignation from Twitter Inc., Bitcoin enthusiast and Block CEO Jack Dorsey has taken to the service he co-founded to voice his disagreements with Web3 technology and venture capital firms like Andreessen Horowitz.

Andreessen Horowitz is one of the company's loudest cheerleaders of Web3, an internet-replacing technology based on blockchains and meant to replace the internet as we know it.

Many companies are investing in the development of decentralized apps (dapps) and games based on Ethereum and Solana blockchains, where trading of NFTs has been most visible.

"'Web3' isn't owned by you," tweeted Dorsey. "Venture capitalists and venture capital firms own it. It will never escape their influence."

Thousands of people retweeted and liked the post. Some users responded with comments like "highly disagree" and "dead wrong," while others offered their support.

In response to a question from Tesla CEO Elon Musk, Dorsey said the new project is "between a and z," hinting that its development is under the control of Andreessen Horowitz and Marc Andreessen's VC, a16z, sometimes referred to as A16Z.

Earlier that day, Jack Dorsey, whose Block Inc. company incorporates Spiral, a project "designed to make bitcoin the preferred currency of the planet," replied to Cardi B's tweeted question regarding crypto, saying that Bitcoin would replace the dollar.

Chris Dixon, the general partner at a16z, commented on the Twitter feud by stating that he is "a huge fan" of Dorsey and hoped he would eventually come around to Ethereum and other blockchains.

"I think it's imperative that we focus our energy on truly secure and resilient technologies owned by the masses, not a few individuals or institutions," Dorsey replied.