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Jack Dorsey blocked by Marc Andreessen on Twitter after Web3 comments


Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square speaks on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida.

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Marc Andreessen, a well-known venture capitalist, has blocked Jack Dorsey from Twitter.

After Dorsey had criticised certain aspects of the venture capital market and made specific comments about Andreessen Horowitz, the company Andreessen cofounded, the block was created.

This week, Dorsey has expressed multiple views on “Web3” — a potential new decentralized version of the internet based on blockchain. Perhaps the most striking statement was that Andreessen, a wealthy VC, would own Web3 instead of “the people”.

You don’t have ‘web3’ he tweeted. “The VCs have LPs. Their incentives will keep it from fleecing. “It is ultimately a centralized entity that has a different name.”

On Wednesday Dorsey wrote: “I am officially banned from Web3”, along with a screenshot showing that he was blocked by Andreessen. The tweet was shared by several Twitter users, who were themselves blocked by Andreessen.

Andreessen has earned billions from early investments in companies such as FacebookThe, supports a variety of companies working on technology that will one day be the backbone of Web3.

Andreessen Horowitz’s website also features a page called “web3 Policy hub,” which has the subhead: “We Deserve an Internet Better.”

We don’t know all the answers but are eager to collaborate with policymakers and civil society to create a positive vision of how these new powerful tools can be used to benefit society. the VC says.

CNBC reached out to the firm for comment but they did not respond immediately.

Web3: What’s it all about?

Web3 still remains an undefined concept. But, there is a possibility that it could be powered by blockchain technology, which powers many major cryptos and nonfungible tokens. Many entrepreneurs are working around the globe to develop and implement the protocols and technologies that will support Web3.  

Web3 advocates, which would be following Web1 and Web2, feel that today’s online platforms have become too centralized and controlled by just a few large companies. AmazonAppleAlphabet and Facebook parent company Meta

Elon Musk was the Tesla CEO. If any of his 67.4million Twitter followers had seen Web3, Dorsey implied that it is under Andreessen Horowitz’s control.

Dorsey said, “It’s somewhere in between a-z.” stepped down as Twitter CEO last month to focus on his payments start-up, Block, formerly Square.

Web3′s army of supporters want to see the power of the internet put in the hands of the people, not VCs. It’s far too important and large for just a few investors or companies to handle. The internet plays an important role in the world’s economy today and powers everything, from hospitals to nuclear power plants.

Marc Andreessen is co-founder of Andreessen Horowitz and general partner

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There is a lot more to the internet than just the internet. Decentralizing finance is a major push that’s being driven by crypto entrepreneurs and supporters of coins such as bitcoin and ether.

Dorsey has received money from VCs to fund Twitter and Block. His Twitter bio simply states “#bitcoin”, followed by the symbol of bitcoin. He is less interested in other cryptocurrency.

He replied late Wednesday to a tweet user, saying he wasn’t necessarily anti-ethereum. This technology powers the cryptocurrency ether, (ETH), and many other decentralized applications, including some that were backed by Andreessen Horowitz.

Dorsey declared, “I’m against-centralized, VC owned, single point failure and corporate controlled lies.” Dorsey said, “If you have a goal to be anti-elite, it’s not ethereum.”