Decentralized tech with centralized money isn't decentralized
Quote
the VC money that is going into it is not decentralized, that that is all in one basket.
Episode 74: Confetti Canon (episode page, opens in a new tab) 01:01:22 (play audio from this timestamp, opens in a new tab)
Voice-matched
Summary
Echoing Jack Dorsey, Dave says web3 sings the song of decentralization, but its VC funding sits with a few powerful firms. Web3 only becomes what it claims when the money side is decentralized as well as the technology. Otherwise the pull is to re-centralize, including selling users' data.
Also said
Episode 74: Confetti Canon (episode page, opens in a new tab) 01:02:57 (play audio from this timestamp, opens in a new tab)
That's where the web 3.0 becomes, what it claims to be, is when it becomes decentralized on the money side of it, as well as the technology side.
Voice-matched