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Let's Get Ready to Rumble: Marc Andressen, Jack Dorsey Duke it Out

They’re fighting on Twitter over web3, which refers to decentralization of the Internet based on blockchain.
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Can’t we all just get along? Apparently not, if we’re billionaire venture capital king Marc Andreessen and Block  (SQ) - Get Square, Inc. Class A Report CEO Jack Dorsey.

They’re duking it out on Twitter over web3, which refers to decentralization of the Internet based on blockchain.

Dorsey tweeted Monday that Andreessen and other venture capitalists are corrupting web3.

“You don’t own ‘web3’,” Dorsey said. “The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label.”

Web3 is “somewhere between a and z,” Dorsey wrote, referring toA16Z, a nickname for Andreessen’s firm, Andreessen Horowitz.

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Then on Wednesday, Andreessen blocked Dorsey from accessing his tweets. Dorsey’s response: “I’m officially banned from web3,” the Twitter co-founder tweeted.

Welcome to high school.

Goldman Sachs Believes in the Metaverse

Meanwhile, Goldman Sachs thinks the metaverse hype is for real, and sees Meta Platforms (FB) - Get Meta Platforms Inc. Class A Report, parent company of Facebook, Snap (SNAP) - Get Snap, Inc. Class A Report, and video game platform Roblox (RBLX) - Get Roblox Corp. Class A Report as beneficiaries. It rates all three stocks as buys.

“The global Internet is in the middle to late innings of the innovation curve of Web 2.0 (the shift from desktop to mobile computing and from local to cloud storage),” wrote Goldman analysts led by Eric Sheridan.

“The leaders of this wave of the Internet are now firmly established. In framing the next wave of computing (Web 3.0), we see the potential for dramatic shifts in industry structure (decentralized, more local/niche/targeted).”

As for the metaverse, “the gaming/media landscape has already shown some key elements as to how [it] might evolve and how themes such as decentralized web activity and virtual experiences could become hallmarks of many of the next waves of computing in Web 3.0,” the analysts said.

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