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<ul><li>Block, formerly known as Square, CEO <keyword id="265395" type="General" weightage="20" keywordseo="jack-dorsey" source="Orion">Jack Dorsey</keyword>, is unfollowing venture capitalists on Twitter.</li><li>This comes after he pointed the finger at VCs and LPs for being the real powers that control <keyword id="12465420" type="General" weightage="20" keywordseo="web3" source="Orion">Web3</keyword> since they’re the ones pumping money into startups working on decentralised solutions.</li><li>This is not the first time that Dorsey has gone on a unfollowing frenzy on Twitter over a difference in opinion.</li></ul>Jack Dorsey has been on a roll this past month from quitting Twitter to renaming Square. And, now he’s brewing up a storm over <a href="http://coindcx.com">Web3</a>, the so-called next-generation of the internet. <br /><div type="twitter" handle="jack" handlename="jack⚡️" image="http://pbs.twimg.com/profile_images/1115644092329758721/AFjOr-K8_normal.jpg" favoritecount="23815" retweetcount="2267" status="The VCs are the problem*not the people" createdat="1640146378000" id="1473506824741601288"></div><br />After slamming venture capitalists for hindering the vision of a truly decentralised internet, the Block CEO has gone on an unfollowing spree. This includes Marc Andreessen — the co-founder of the firm Andreessen Horowitz, which has invested in blockchain startups the play-to-earn (P2E) game Axie Infinity — Coinbase CEO Brain Armstrong, and crypto exchange Gemini co-founder <keyword id="12801844" type="General" weightage="20" keywordseo="tyler-winklewoss" source="Orion">Tyler Winklewoss</keyword>.<br /><div type="twitter" handle="jack" handlename="jack⚡️" image="http://pbs.twimg.com/profile_images/1115644092329758721/AFjOr-K8_normal.jpg" favoritecount="5296" retweetcount="411" status="this mission statement has always felt so…dark https://t.co/82hFvTd7fO" createdat="1640216754000" id="1473802006355582977"></div><br />Other people that were unfollowed include FraxFinance’s Sam Kazemian, technology reporter Sam Biddle. But, not everyone took it lightly. Andreessen responded by blocking Dorsey altogether. <br /><div type="twitter" handle="jack" handlename="jack⚡️" image="http://pbs.twimg.com/profile_images/1115644092329758721/AFjOr-K8_normal.jpg" favoritecount="43837" retweetcount="3678" status="I’m officially banned from web3 https://t.co/RrEIAuqE6f" createdat="1640198496000" id="1473725424387694601"></div><br />That being said, this is hardly the first time that Dorsey has gone on a frenzy to unfollow people due to a difference in opinion.<br /><cmsannotation type="cmsannotation" annotationid="Differ with Dorsey, and be unfollowed" comment="subhead" text="Differ with Dorsey, and be unfollowed"><span data-til="noop">Differ with Dorsey, and be unfollowed</span></cmsannotation><br />Dorsey and <keyword id="399907" type="General" weightage="20" keywordseo="meta" source="Orion">Meta</keyword> CEO <keyword id="6354630" type="General" weightage="20" keywordseo="mark-zuckerberg" source="Orion">Mark Zuckerberg</keyword> have hardly ever seen eye-to-eye, whether it comes to freedom of expression or how a social network should be run, But, there was a time that both had enough mutual respect to at least follow their counterpart on Twitter. <br /><br />However, in December 2019, Dorsey unfollowed Zuckerberg, even though the founder of <keyword id="6354576" type="General" weightage="20" keywordseo="facebook" source="Orion">Facebook</keyword> hardly ever even used his account. <br /><br />The same occurred a year later, in 2020. After the US Presidential Election came to a close, Dorsey unfollowed both former US president Donald Trump and the current president, Joe Biden. He also unfollowed Kamala Harris and Ivanka Trump. <br /><br />In 2021, it’s venture capitalists and the name of the game is Web3.<br /><div type="twitter" handle="jack" handlename="jack⚡️" image="http://pbs.twimg.com/profile_images/1115644092329758721/AFjOr-K8_normal.jpg" favoritecount="42868" retweetcount="7113" status="You don’t own “web3.”The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centraliz… https://t.co/Rre1m6uAzc" createdat="1640058684000" id="1473139010197508098"></div><br /><cmsannotation type="cmsannotation" annotationid="What is the Web3 spat about?" comment="subhead" text="What is the Web3 spat about?"><span data-til="noop">What is the Web3 spat about?</span></cmsannotation><br />The ongoing debate over Web3 is, in essence, about whether it can ever truly be decentralised. Dorsey has always been a big proponent of Bitcoin. For him, it’s not only a tool to hedge against hyperinflation but also a mode to defend against financial censorship. <br /><br />For instance, one of the reasons that El Salvador declared Bitcoin as currency is because their economy runs on the US dollar but they don’t have any say in the monetary policy. Regardless of how their economy is doing, its money supply is determined by a force that’s out of the local government’s hands. <br /><br />According to Dorsey, when it comes to Web3, decentralisation will never truly be possible because it will always be bound to the self-serving incentives of venture capitalists, who currently have the most in the game. <br /><br />                                                        <div type="Article" hostid="261" msid="88416405" title="Tech billionaires Jack Dorsey and Elon Musk take a dig at Web3 — ‘It’s somewhere between a and z’" mstype="2" mssubtype="0"></div><br />While on one side he was unfollowing VCs, on the other he was adding bitcoin maximalists — people who believe that Bitcoin is only digital asset that will be needed in the future — and open source software developers. <br /><br /><strong>SEE ALSO:</strong><br /><a href="https://www.businessinsider.in/investment/news/tech-billionaires-jack-dorsey-and-elon-musk-take-a-dig-at-web3-its-somewhere-between-a-and-z/articleshow/88416405.cms">Tech billionaires Jack Dorsey and Elon Musk take a dig at Web3 — ‘It’s somewhere between a and z’</a><br /><a href="https://www.businessinsider.in/investment/news/ubisoft-wont-give-up-on-nfts-despite-criticism-and-having-sold-next-to-none/articleshow/88434743.cms">Ubisoft is doubling down on NFTs with decentralised storage despite severe criticism</a><br />

Jack Dorsey’s annual unfollowing spree includes Marc Andreessen, Brian Armstrong and Tyler Winklewoss — and this year, it’s about Web3

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Jack Dorsey’s annual unfollowing spree includes Marc Andreessen, Brian Armstrong and Tyler Winklewoss — and this year, it’s about Web3

Prabhjote Gill

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