Marc Andreessen: "Web3 is the missing link of the Internet" – Bits Media

Tech entrepreneur and co-founder of venture capital firm Andreessen Horowitz Marc Andreessen spoke, how he sees the nascent Web3 industry and why it reminds him of the early Internet.

On the Bankless podcast Marc Andreessen (Marcs Andreats) told, that growing adoption and the rapid development of Web3 is very similar to a burst of activity, characteristic of his early years in technology.

"This is the only time, when I say, that Web3 is similar to the Internet. If we go back to all my statements, ever said publicly, you might think, that I have said something like this many times. However, this is not the case, I've never compared Web3 to the Internet before. I've never done this, talking about other technologies, because I want, so that people don’t take comparisons lightly.”, He said.

Andressen stated, that the current Web3 space attracts the smartest people in the world. When there is such a dynamic industry, having its own philosophy and movement, it will inevitably attract talent. In his opinion, Critics of the new industry simply don't understand, how does it work, therefore many of their predictions do not come true.

“Critics make huge lists of problems, which seem overwhelming. But when you start working in the industry, then you discover, that space is filled with brilliant engineers and entrepreneurs, who see these lists as not problems, and opportunities", He said.

According to Andreessen, Web3 is more like the missing link of the Internet, which provides trust, sovereignty and financial benefit to the ecosystem. Those economic mechanisms, which largely still exist in traditional finance, it became possible to perform on the Internet, he explained.

Recall, that Andreessen Horowitz previously attracted $4.5 billion for his new cryptocurrency fund, aimed at supporting promising Web3 startups.