Twitter’s co-founder Jack Dorsey is having a melt down concerning Web 3.0. For those that do not know Web 3.0 consists of NFT’s, Tokens and DAO’s. At its core Web 3.0 aim is to put the power back in the hands of the people. The community.
Jack is claiming his beef is with all the VC money backing Web 3.0 projects. Now Jack has a good point. These VC’s make a lot of their $$$ on token sales once the project launches. But there are a lot of developers who are learning the programming frameworks and who are bootstrapping themselves.
But here’s the skinny. Jack made his fortune from Web 2.0. He sold users data to the highest bidder. Web 3.0 does not do this.
Jack is also a bitcoin maximalist. Jack has a mission to launch decentralized apps on top of bitcoin and I think Jack has figured out that it is impossible to create on top of bitcoin and is lashing out. Ethereum’s founder figured this out years ago and that’s why he started eth.
Now bitcoin is the only truly decentralized Blockchain. This is why it is King. It’s the only permissionless, decentralized monetary network in the world.
Solana, Avax, Algo etc. all has centralized elements and these projects were VC funded. So I understand Jack’s beef.
But there are alot of freakin cool projects that are launching on Web 3.0. I don’t think anyone fully understands what’s coming. It’s going to be a platonic shift like the internet and mobile apps.
It’s foolish to ignore NFT’s, tokenization and DAO’s. Web 3.0 is minting wealth and its foolish of Jack and other billionaires who made their money selling their users data to talk down on it. Especially when they took VC and Wall street's money to fund their web2 empires.
