It’s reminiscent of the late 1990s, according to Marc Andreessen, a billionaire software entrepreneur and the founder of Andreessen Horowitz.
As a billionaire computer entrepreneur turned venture investor, Marc Andreessen likens the emergence of Web3 to the early internet.
Andreessen, currently known as the co-founder of the blockchain-focused venture capital firm Andreessen Horowitz (a16z), first found success by developing the first widely used web browser, Mosaic, and then founding Netscape Navigator, which controlled the browser market across much of the 1990s.
Andreessen, who spoke on the Bankless podcast with investing partner and colleague Chris Dixon, compared the frenzy of activity that characterised his early years in technology to the rapid use and development of Web3.
It was the first time Andreessen had made such a broad analogy, which he insisted he would not do carelessly:
‘This [Web3] is like the internet,’ I stated for the first time today. Look back over all of my previous remarks and you’ll see that I’ve started this at least 48 times. “I’ve never used the analogy before,” I admit.
In the past, I’ve never made the comparison to any other technology since I didn’t want people to think that I was comparing it carelessly.
Andreessen’s direct involvement in the early stages of the internet provides him with a unique perspective when it comes to comparing the acceptance path of blockchain technology to that of the early internet.
According to him, today’s Web3 scene is drawing the best minds in the world
One way to look at it is that when something like this has a movement behind it and attracts many of the world’s best people to work on it, criticism ends up having a different impact than detractors believe it does.
Defending crypto and digital assets against the “long list” of complaints, Andreessen said that Web3 entrepreneurs saw these “issues” as possibilities.
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