According to the founder of the a16z cryptocurrency division, Web3 companies need to make more efforts to introduce new technologies and return control of the Internet to people.
Andreessen Horowitz (a16z) crypto founder Chris Dixon said he believes Web3 and digital currencies can disrupt the imbalance of power created by big internet companies like Facebook and Twitter. According to the expert, now all power on the Internet is divided between a small group of companies, but this may change in the future:
“I think the current state of affairs is not efficient at all. The idea that the Internet is controlled by five companies is very bad for both entrepreneurs and venture capitalists.”
According to representative Andreessen Horowitz, the situation can be corrected by a new version of the Internet, in which all control will belong to users. To do this, Dixon says, Web3, blockchain, and crypto companies need to do more to adopt the technology and educate people on how to use it:
“What can we do to improve the Internet? Build new systems where network effects are distributed to the community and not to companies.”
Dixon shared his thoughts on the recession in the market, saying that he personally sees the fall as a chance to make more investment in the industry. The expert assured that according to his experience, downturns in the markets have always been an opportunity to buy low and sell high – which has always been the main essence of venture capital.
Earlier, Andreessen Horowitz co-founder Marc Andreessen explained why Web3 reminds him of the early Internet.
Source: Bits
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