'I have never before seen a CEO take responsibility as he does': investor Bill Ackman comments on Sam Bankman-Fried in now-deleted Tweet

In a now-deleted Tweet on Thursday, short-seller Bill Ackman defended former FTX CEO Sam Bankman-Fried's leadership this week

MarketWatch

Yesterday, someone asked me, "What do you have against Web 3.0?"

I generally don't think the Internet should work like a casino.

Imagine having to spin a roulette wheel every time you opened a link.

"Oh! time to check my email!"

*puts money on black*

That's Web 3.0 in a nutshell.

@atomicpoet I think there’s plenty of good intentions behind it all, but I get the feeling that something like 95%+ of all the use cases work just fine as-is with a database and a secure server.

Also just look at the number of scams and multi-*billion* dollar collapses and it’s like “no thanks, it’s not really for me right now”

I’m interested in some bits of it, but on a fairly surface level.

@atomicpoet 😂😂 that's such a good analogy
@atomicpoet I miss when Web 3.0 meant Semantic Web.

@atomicpoet @mstine

it’s that it’s a combination of unbelievably evil and stunningly stupid.

To paraphrase an old quote, Web 3.0 is what stupid avaricious people think smart is. Sadly that includes literally every big business leader and their sycophants.

but Web 3.0 is great! I read that in the inter webs somewhere! @web3isgreat

@atomicpoet It fully depends on how we define "Web 3.0". When I hear that "tag", I think of a World Wide Web at least as decentralized as it was at the beginning of the 1990's (without the Google, Amazon, Meta, etc. of today) but with added projects, like the #Fediverse, that allow us to shape our online communications and building processes, as much as we're shaped by them.

I'm not sure when & why that - now frequent - association between Web 3.0 and "money grab schemes" was born.

@ijatz_La_Hojita @atomicpoet

The "money grab" association is partly because Web3 was coined by Etherium developer Gavin Wood (blockchain was as fundamental to Web3 as decentralisation) and partly because tech journalists started hyping the term at the same time as the NFT craze
https://slate.com/technology/2021/11/web3-explained-crypto-nfts-bored-apes.html

What Is Web3 and Why Are All the Crypto People Suddenly Talking About It?

Was there a Web2?????

Slate

Thanks a lot for that reference, @bornach! @atomicpoet Yes, in the blockchain world (or "microcosm"), "Web3" is, as far as I've seen, always used as a technical term - a dev friend of mine has actually gone beyond that, and written very interesting texts about Web4, that extends its decentralized patterns into biomimetics (it would require another thread to tackle that 🙂).

Ironically, Gavin Wood has left Ethereum (to launch "Polkadot", which is essentially "Ethereum 2.0" here and now).

@atomicpoet in fairness it wasn't 16billion of actual money, more like 16billion of magical fairy bucks
@atomicpoet is Bankman-Fried a name or a description?!
@atomicpoet anyone who invested in crypto on the basis that there would be more of it in future is an idiot.