Web3's Idealistic Values Tested as Economics and Big Tech Encroach
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Web3 was envisioned as a decentralized alternative to big tech, but major companies have co-opted aspects of it rather than being disrupted.
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Harsh economic realities and drying up of VC funding have pushed many idealistic Web3 startups to compromise principles to survive.
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Dependence on VC funding makes it hard for Web3 projects to focus on revolutionary goals rather than profitability.
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While some have softened anti-big tech rhetoric, others still aim to address problems like lack of creator opportunities.
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Web3 may be maturing past idealistic adolescence to balance democratizing goals with financial sustainability.