Dogecoin Co-Founder Takes Swipe At Crypto VCs, Web3

Dogecoin DOGE/USD co-creator Jackson Palmer has taken yet another swipe at venture capitalists — in particular, Marc Andreessen, the co-founder of Andreessen Horowitz (a16z), for his comments about the advantages of Web 3.

What Happened: Palmer criticized Andreessen’s comments about Web3 benefits and said he’s “out here trying to get blocked by [Andreessen] again.”

Andreessen visibly struggled to explain a Web3 use case to the economist, columnist and blogger Tyler Cowen in the interview.

Palmer said, “The benefit of web3 was that, for a hot minute, VCs had more [Ethereum ETH/USD] than they knew what to do with and you could make bank selling your content specifically to them.

See Also: Best USDC Interest Rates

Why It Matters: Palmer had earlier labeled cryptocurrencies as “parasitic”  and had taken a jibe at Tesla Inc TSLA CEO Elon Musk, calling him a “grifter.”

In an interview with the Australian newspaper The Age this month, Palmer said Andreessen, Mark Cuban, and others who are “heavily on the crypto train” had as much or even more influence than Musk.

“If you go and look at the people who were involved with Y Combinator or 500 Startups 10 years ago, I pretty much guarantee they’re all running a crypto venture fund right now,” said Palmer.

Andreessen and several other persons linked with a16z are invested in the NFT fund Curated, which launched with $30 million in funding in March.

Andreessen is the co-author of Mosaic, a web browser used in the earliest days of the internet, and the co-founder of the legacy browser Netscape.

He has been on the board of Facebook parent Meta Platforms Inc META since 2008 and is joining Musk’s bid to takeover Twitter Inc TWTR.

Read Next: Bill Gates Slams Crypto, NFTs: Shams Based On ‘Greater Fool Theory’

Photo via TechCrunch on Flickr

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