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Block (formerly Square) CEO Jack Dorsey criticized the web 3 sphere recently, saying it isn't decentralized, but venture capital firms are those who own it. In a tweet published on December 21, the former CEO of Twitter said web 3 is a centralized entity with a new label.
In a later tweet, Dorsey shared a picture showing that Ethereum and web 3 work to benefit large companies and not retailers.
Dorsey has always been a Bitcoin supporter, and maximalist, thinking that BTC is the only asset that is needed for the future.
Tesla CEO Elon Musk also tweeted about the industry. He wrote, "Has anyone seen web3? I can’t find it". Dorsey responded to the tweet, saying it's somewhere between a and z. He clearly meant the large VC Andreessen Horowitz (a16z), which is known for its huge investments in web 3 projects.
It’s somewhere between a and z
— jack⚡️ (@jack) December 21, 2021
Later, Dorsey revealed that co-founder and General Manager of a16z, Marc Andreessen blocked him on Twitter.
I’m officially banned from web3 pic.twitter.com/RrEIAuqE6f
— jack⚡️ (@jack) December 22, 2021
After Andreessen's blocking Dorsey, the a16z website announced plans to connect different representatives of the technology ecosystem, including academics, industry experts, investors, entrepreneurs to block Twitter accounts, doing so through an "open and decentralized" way.