"Sounds Like BS": Elon Musk Not Amused By Web 3.0
NDTV
As is often the case with Elon Musk, it’s not clear why he was inclined to steer away from the technological advancements in the worldwide web.
With the rapid evolution of technology, there's a new term, a new concept emerging every now and then. One of those is “Web 3.0” or just “Web3”. Some see it as the future of the internet, for others, it's just another buzzword that has come into prominence without due diligence. Billionaire tech tycoon Elon Musk appears to be siding with the second group of people. Replying to a Twitter thread recently, he said Web3 “sounds like BS”. Web3 includes the Metaverse and the blockchain technology where computer programmes run on networks of millions of computers. Also, let me just simp for a second and suggest that web3 might still have 2010s-like returns.(But most VCs will miss it.) Web3 sounds like bs I thought nothing could be nuttier than ‘99
Alongside this “BS” statement, Musk also said that he thought “nothing could be nuttier than ‘99”. His reference was to the dot-com boom of the late 1990s and the explosion of blockchain technology happening now. As is often the case with Musk, it's not clear why he is decided to steer away from the technological advancements in the world wide web or prefers the internet the way it is today.
Musk disclosed his views while commenting on a Twitter thread by fellow American entrepreneur and investor Sam Altman, who suggested that Web3 “might still have 2010s-like returns” and cautioned against over expectation from it. His stance was that the returns on investment in Web3 would not be very different from those made in the 2010s.
