FT News Briefing A sceptic’s guide to crypto: the ‘smart’ money
Aug 28, 2022
John Thornhill, the Financial Times' innovation editor, interviews Chris Dixon, head of Andreessen Horowitz's crypto fund. They dive into the dual nature of NFTs, tackling their allure and volatility. Thornhill reflects on his own skepticism towards cryptocurrencies, spotlighting the power dynamics at play. The conversation critically examines Web3's promise to decentralize the internet versus the reality of growing centralization. They discuss the speculative finance driving blockchain innovations and advocate for a balanced view of this evolving landscape.
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Jemima's Crypto Criticisms
- Jemima Kelly has been criticized and trolled online for questioning crypto.
- Her editor even received a complaint about her calling someone a "Bitcoin bro."
Web2 Investments and Centralization
- Andreessen Horowitz, a prominent VC firm, invested heavily in Web2 companies like Facebook and Twitter.
- Now, they believe these companies have become too centralized and powerful.
Web3 Empowering Creators
- Chris Dixon argues that Web2 platforms like Instagram don't share revenue with creators.
- Web3 aims to empower creators by enabling direct monetization through NFTs and other methods.