Square CEO Jack Dorsey and VC legend Marc Andreessen are fueding on Twitter over the future of web3.
Web3 refers to the next generation of the internet, based on blockchain technology. As such, web3 uses the features and characteristics of blockchain to improve traditionally weak areas, such as security and reliability. Instead of designing and deploying apps to run on a single server, web3 involves apps that are decentralized, running on blockchains, decentralized P2P servers, or both.
Given how early it is in the process of adopting web3, there’s still much discussion about the future of this evolution of the web. At least for Dorsey and Andreessen, that discussion has gotten rather intense.
Dorsey fired the open salvo, criticizing VCs — including Andreessen’s firm Andreessen Horowitz — for trying to own web3.
Dorsey even retweeted a cartoon portraying VCs as gluttons gorging themselves on web3 while retail entities starve.
It seems Andreessen didn’t take the criticism very well, with Dorsey tweeting shortly after that Andreessen had blocked him on Twitter.
In response, Dorsey criticized a16z’s (shorthand for Andreessen Horowitz) mission statement.
It’s a safe bet such heated discussions will continue to play out across the industry as developers, companies, and (yes) VCs continue to adopt web3.