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Chris Dixon thinks web3 is the future of the internet. Is it?
Decoder with Nilay Patel
In web 3, Network Effects Accrue to the Protocols instead of Companies
The web is open data, but Google dominates due to network effects. Unlike in web one, where users could switch email services, users are locked into platforms like Twitter and TikTok. In web three, investors are hoping to keep monopolies in check by letting network effects accrue to community-owned protocols.
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