It may be related, there is a video making the rounds of a crypto-CEO explaining Web3 to a congressional committee [0][5m56s], the major theme being that owning tokens is part ownership in the platform, the old Web is owned by tech giants, the new web is owned by anyone who holds a token. The whole thing reads to me as sleight of hand, too slick, but I couldn’t place my finger on what the lie/misrepresentation was. Nonetheless, the comments are glowing reviews, best explanation of blockchain ever !!!1!

I don’t suppose Dorsey is responding directly to this video, tho at 4M views it is worth contradicting, but “Web3 is owned by the users” is the latest salesmenship for NFT-flippers.

[0] https://youtu.be/pSTNhBlfV_s

PS sure would be nice to link to congressional testimony without an ad pre-roll, but alas

Ao basically more tokens someone buys more he owns the platform lol, just like how internet was slowly bought by corporates. Do these crypto pedlers even realise what they say? Internet on day one was decentralised, and pretty much owned by none, no regulations.

The as people started joining Ads started then hackers joined, then came in scammers, then came in silicon valley unicorns who claim to make world a better place by showing more ads. Now web3 is just a dumb BS, they peddle to make money. If there is money to be made, govts and corporations wont let people have it.

Most of the "web3 VC's" with NFT avis and .eth handles (see Chris Dixon) are obnoxiously tweeting about how "web2" sucks and that you don't have any ownership in it whereas "web3" is a decentralized utopia where you own every single piece of information about yourself and have the ultimate freedom to do anything.

I can't believe some of the tweets they post. Things like "web3 is the first time you can own a piece of the internet" (I'm paraphrasing) are so bluntly wrong I don't understand why people fall for this.