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Jack Dorsey's tweets hinting at competition in the "Web3" space have been repeatedly blocked by a16z.

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Jack Dorsey

Former Twitter CEO Jack Dorsey recently engaged in a debate on Twitter regarding Web 3.0 with several influential figures, which eventually escalated into a community dispute of ETH vs BTC. This led to Jack Dorsey unfollowing and a16z blocking him on Twitter. Here is a summary of the situation.

Venture Capitalists, Not Users, Own Web3

Perhaps due to the recent hype surrounding Web3, Jack Dorsey tweeted on 12/21:

You don't own "web3," venture capitalists and their limited partners do. Web3 can never escape the incentives they've set out, and it will eventually become a centralized entity with a different label. You should know what you're really yearning for.

Community Responses

Former CTO of Coinbase and a16z partner Balaji Srinivasan:

Respect to you and all that you've built, but I disagree with your argument. Twitter initially started as a protocol, advocating for freedom of speech, but later restricted usage for some and introduced censorship due to corporate positions and political factors. Web3 is not perfect, but it can potentially be better.

Srinivasan referenced many headlines about Twitter shutting down accounts of left-wing individuals and Trump. Jack Dorsey responded:

Everything you said is wrong. Twitter was always a company with incentives from day one, and we'll eliminate those pain points through the Blue Sky project. Web3 has similar corporate pain points but hides them under the guise of being "decentralized."

Co-founder of The Block, Mike Dudas:

You're way off base with this argument. Many fighters are building truly independent Web3, and you're prematurely killing their hopes and dreams.

Jack Dorsey responded:

If a tweet can kill hopes and dreams, then there's a big problem. Criticism helps to correct things and shifts focus to more important matters.

Co-founder of Coinmetrics, Jacob Franek:

As far as I know, you built a centralized Web2 company with funding from venture capitalists. Does that make you an expert on all Web3 companies?

Jack Dorsey:

I did learn a few things from that experience.

a16z partner Chris Dixon:

I'm a huge fan of Jack's, and I hope we can introduce him to Ethereum or other blockchains. Bitcoin is great as digital gold, but there are other important applications that need to run on other chains.

Jack Dorsey:

I believe in your understanding of the system. It's crucial to focus on technology that is not controlled by individuals or institutions but is truly owned by the public and is secure and flexible. Only on this foundation can the applications you mentioned be provided.

Mocking Web3 Openly

Elon Musk, CEO of Tesla known for embracing new technologies, recently expressed disinterest in Web3. He first criticized Web3 as not genuine but filled with marketing jargon.

The next day, he asked, "Where is Web3?" stating he couldn't find it. Jack Dorsey then said Web3 is between 'a' and 'z,' implying it's controlled by the prominent venture capital firm a16z.

NFT digital artist Beeple released a new piece on Twitter, even advancing it to "Web5." Jack Dorsey responded with "Web16," taking another dig at a16z.

Jack Dorsey also gave a score of 100 to a meme mocking Ethereum, Web3, and Silicon Valley venture capitalists, indicating he believes Web3 based on Ethereum is centralized, with a16z profiting greatly, to the detriment of users.

Blocked by a16z

After several indirect criticisms, a16z founder Marc Andreessen blocked Jack Dorsey on Twitter, with Dorsey playfully stating he's officially blocked by Web3.

Jack Dorsey himself unfollowed Gemini co-founder Tyler Winklevoss after Tyler tweeted about Dorsey selling his "first tweet ever" NFT, highlighting that users don't actually own or control their tweets, and emphasizing support for any technology that can address this pain point.

Upon learning of Dorsey's unfollow, Tyler stated:

I won't unfollow Jack, no matter our differences. He's a remarkable entrepreneur and an exceptional person. The world needs more Jacks.

Jack Dorsey also unfollowed Coinbase founder Brian Armstrong and The Block founder Mike Dudas, with whom he had disputes in this article.

Ethereum vs. Bitcoin

In the latest responses, the incident has escalated into a war within the crypto community. Some argue that if today's popular platforms like Opensea, Bored Ape NFTs, and MetaMask wallets revolve around Bitcoin, Jack Dorsey would surely have no issues. He simply wants Ethereum to appear more like an institution.

Jack Dorsey responded:

I'm not against Ethereum, I'm against centralization, venture capitalists, single points of failure, and the lies packaged by centralized corporations. If your goal is to oppose institutions, I assure you it's not Ethereum. You don't have to believe me; just look at the fundamentals.

In response, Billy Markus, co-founder of Dogecoin, commented that Bitcoin only gives more power to a new batch of wealthy individuals.

Musk, for the fun of it, replied: "That's why I support Dogecoin."