Jack Dorsey says VC involvement means crypto users don't own Web3 - Elon Musk seems

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Twitter cofounder Jack Dorsey doesn't have much faith in the idea that Web3 — the next generation of the internet — will "democratise everything." And Tesla boss Elon Musk doesn't even seem to think it exists.
Web3 is seen by crypto advocates as a stepping stone to giving people more ownership of their online activity. As it's built on the blockchain, and so decentralised, that means it won't be controlled by Web2's tech giants such as Google, they argue.
But Dorsey shot down that idea in a post to Twitter, pointing to how venture capitalists and their limited partners, or VCs and LPs, are building influence in the space.
 
"You don't own 'web3.' The VCs and their LPs do," Dorsey said in a tweet late Monday.
"It will never escape their incentives. It's ultimately a centralised entity with a different label. Know what you're getting into …"

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To be continued