Jack Dorsey Banned From "Web3" Because Of Spicy Comments

Jack Dorsey criticizes certain corners of the venture capital industry. (twitter screenshot)

JAKARTA - Twitter founder Jack Dorsey has been blocked on Twitter by venture capitalist (VC) Marc Andreessen, amid a growing dispute over the trendy crypto concept Web3.

The blocking came after Dorsey criticized certain corners of the venture capital industry and made several specific statements about the company Andreessen co-founded, Andreessen Horowitz.

Dorsey last month resigned from his post as CEO of Twitter, and it is this ban that has become a memory after he left. In fact, Dorsey and Andreessen both built Twitter at that time.

Dorsey has expressed many views on Web3, namely the new decentralized internet version that will be powered by blockchain, the technology behind major cryptocurrencies and non-exchangeable tokens, or NFT.

Quoting CNBC International, Monday, December 27, perhaps the problem started when Dorsey stated that Web3 would only be owned by rich VCs like Andreessen, not the people.

I'm officially banned from web3 pic.twitter.com/RrEIAuqE6f

— jack⚡️ (@jack) December 22, 2021

“You don't have Web3. Their VC and LP (Limited Partners) do it. It will never escape their incentives. This is ultimately a centralized entity with a different label," Dorsey tweeted.

It wasn't long before Dorsey tweeted again, "I'm officially banned from Web3," alongside a screenshot showing he's been blocked by Andreessen on Twitter.

Several other Twitter users also shared similar screenshots that they had been blocked by Andreessen.

For your information, Andreessen, who has made billions of dollars from early bets on companies like Meta, has also supported a number of companies working on technology, which could one day support Web3.

But Web3 critics including Dorsey and Elon Musk say the term is just a marketing ploy designed to take power from some wealthy tech investors and pass it on to other wealthy tech investors.

However, a large number of entrepreneurs around the world are trying to design and build the technologies and protocols that will support Web3.

Supporters of Web3, who will follow Web1 and Web2 believe that today's online platforms are too centralized and controlled by a handful of big internet companies, such as Amazon, Apple, Alphabet and Meta.

They also want to see the power of the internet in the hands of the people, not VCs. Proponents believe it is too large and important to be managed by a small number of companies or investors.