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Who owns Web 3.0? Responding to critics // and the promise of DAOs & NFTs

In this episode of Ventures, I (https://www.linkedin.com/in/wclittle/) recorded a ~10min monologue about my own reflections on recent tweets from Jack Dorsey (https://twitter.com/jack/status/1473139010197508098) and Elon Musk (https://twitter.com/elonmusk/status/1473165434518224896, which Jack then responded to). The basic criticism is that “Web 3.0” is essentially owned and pumped by venture capitalists (VCs) and that no real noticeable value has yet been created for humanity. I begin my reflections by talking about self-sovereign identity and decentralized finance, and then talk about the promise of DAOs (Decentralized Autonomous Organizations) and NFTs (Non-Fungible Tokens). A future where individuals can own, govern, and have autonomy over their own value-creation, DAOs that promote social causes, and DAOs that fuel a new generation of venture building….this is a future that I can get behind and support. Yes, VCs will make money, but that doesn’t necessarily mean the vision they are helping to create is a bad thing.

You can watch this episode below or listen on Apple Podcasts, Spotify, Google Podcasts, or wherever you get your podcasts (search for “Ventures”).


Notes from the monologue:

* My previous articles/podcasts/newsletters on Web 3: https://satchel.works/@wclittle

* Follow the conversation threads from the twitter links above to learn how others in Web 3 are responding to the criticism.

* It’s important to understand that Jack himself is supporting Web 3 via https://blueskyweb.org/ // “Our mission is to develop and drive the adoption of technologies for open and decentralized public conversation.” – He, obviously, may not use the term “Web 3”, but the future he is building fits at least my definition of Web 3.

* Mega article on NFTs: https://medium.com/coinmonks/nfts-101-why-nfts-are-a-generational-innovation-4626ae803e3b