Dorsey and Musk Pour Cold Water on Web 3.0 Hype

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The Street

By Dan Weil ‘Has anyone seen web3? I can’t find it,’ Elon Musk tweets. Web 3.0 is a vague term including decentralization of the internet. Not everybody is on board with Web 3.0, a vague term encompassing decentralization of the internet based on blockchain. The skeptics include Square (SQ) – Get Square, Inc. Class A Report Chief Executive Jack Dorsey and Tesla (TSLA) – Get Tesla Inc Report CEO Elon Musk. “You don’t own ‘web3,’” Dorsey tweeted. “The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label. Know what you’re getting…

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