Twitter slap fight goes awry – TechCrunch


Some VCs who tweet a lot have gotten a little offensive lately, with some of the most powerful people in the industry going after it in unprecedented ways. The two that come to mind are Chris Dixon and Marc Andreessen, who have recently shown little patience with influencers who question whether the promise of crypto, blockchain-based collectibles, or decentralization is exaggerated.

The biggest battle began in late December with billionaire entrepreneur and Twitter co-founder Jack Dorsey, who tweeted to the six million accounts that follow him: “You don’t own ‘web3’. VCs and their LPs do. He will never escape their motives. It is ultimately a centralized entity with a different label.

Sure, Dorsey was dispelling the VCs, but there’s some truth to the observation, of course. Andreessen and other crypto transfer companies like Paradigm and Pantera To do have a financial stake in some of the biggest platforms, and that’s fine. Most likely, these platforms would not exist without corporate support, and most likely, these platforms will become more decentralized over time.

Nevertheless, Dorsey’s tweet started a war. Dixon threw the first grenade by sub tweeter to its nearly 800,000 subscribers, “[F]first they ignore you, then they laugh at you, then they fight you, then you win.

There was a reason for Dixon to rejoice. For years, Andreessen Horowitz was considered a jerk because of all the money and resources he poured into crypto projects. Now the joke is on everyone who does not have devote more of their time and money to these same efforts. As a reminder, Andreessen Horowitz’s investment in Coinbase alone was valued at $11 billion on the day the crypto exchange began public trading last year.

But the war did not stop there. Dorsey replied to Dixon, Andreessen himself waded into conversation to insult Dorsey on several occasions, and things continued to escalate.

Lately, the miasma has spread even further. Yesterday, ex-Facebook employee turned angel investor turned venture capitalist Bobby Goodlatte tweeted to no one in particular, “I’m a huge crypto bull and I think artistic NFTs are dumb. Although Goodlatte’s tweet seemed relatively innocuous at first glance, all of a sudden Dixon, who has more than 10 times Goodlatte’s 70,000 followers, retweeted Goodlatte’s comment, writing above: “Can I short -circuit Bobby Goodlatte?

Before a horrified Goodlatte could respond, Dixon blocked his account.

Dixon appears to have since deleted that comment and another slur directed at Goodlatte, whose father is a former congressman, which read, “My parents are billionaires and I got lucky in crypto, but now I wish throw away the hard-working founders who worked [their] on top.

Goodlatte, who seemed genuinely hurt by it all, then called Dixon a clown.

Many industry watchers are quietly wondering what’s going on at Andreessen Horowitz. Did the partners just make so much money that, as one VC put it privately earlier today, they’re “f***ing the fuck off?”

Eric Bahn, general partner of startup fund Hustle Fund, has another theory. “If you look at content on Facebook that has been shared historically, you know that its algorithms have favored negative stories, attack stories. It’s very shareable fodder. It’s the same on Twitter. Some people realize that if you mean teardowns, it gets noticed.

Obviously, the company’s investors won’t say anything. Andreessen Horowitz hit money for everyone involved in the business. Some of those backers — as well as some founders in the capital market — might even find these tricky tactics compelling.

Meanwhile, some of his rivals are likely using his pugnacious demeanor — one of the only chinks in the company’s armor these days — to their advantage.

Parker Thompson, a venture capitalist at TNT Ventures, summed up following the Dixon-Goodlatte case what many whisper when he tweeted, “There seems to be something about the water there that is driving people crazy. This is not a bullish sign for the portfolio.



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