Block (formerly Square) CEO Jack Dorsey and Tesla CEO Elon Musk took to Twitter on Tuesday to discuss venture capital firms participating in the development of web3.
You dont own web3, Dorsey tweeted. The VCs and their LPs do.
Twitter user Balaji Srinivasan replied to Dorseys tweet, saying that he disagreed and cited Twitter as an example of a web innovation that ultimately gave in to corporate and political incentives.
Dorsey responded that Twitter had started as a corporation and maintained its corporate incentives from its inception, whereas web3 is being controlled by corporate incentives but hides under decentralization.
Musk chimed in to the discussion, tweeting: Has anyone seen web3? I cant find it.
Web3 is a term often used to describe the next era of the internet, pegged to blockchain technology and the creation of the metaverse. Several major companies and brands have recently announced an expansion into web3, including Facebook (now Meta), adidas, and Balenciaga.
In other news, the latest installment of HYPETALKS discussed fashion and the metaverse.
See the rest here:
Jack Dorsey and Elon Musk Discuss Ownership in web3 | HYPEBEAST - HYPEBEAST
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