It's time to take back the internet
Editor’s note: This piece originally appeared on February 4, 2024 in a full-page ad in the New York Times, marking the launch of Read Write Own: Building the Next Era of the Internet — a new book from a16z crypto managing partner Chris Dixon. Read the announcement, or hear a conversation with Chris on the past, present, and future of the internet.
Social networks have the power to decide elections. They can deplatform, destabilize, and make unilateral decisions for billions of people. A new generation of artificial intelligence tools cannibalizes real creators, while deepfakes drown us in misinformation. And streaming services earn more from music than the majority of musicians.
The internet has failed us.
Our digital world is vast, rich, and convenient. But it comes with a critical tradeoff: We are more dependent than ever on a few tech companies that have all of the power.
These big tech companies depend entirely on the people who use their apps and platforms — without sharing control, ownership, or rewards. They can be ruthless, inequitable, and anticompetitive — yet our choices are limited.
But there is another way forward: A future defined by digital ownership. Where people can own pieces of platforms they use, powered by a key innovation: Blockchains. More than cryptocurrencies, blockchains are a new kind of computer that grants agency, ownership, and economic benefits to users — not just tech companies.
Think of blockchains like construction material for new digital services:
- Social networks that guarantee people control and choice
- AI that compensates creators for their work, and certifies the authenticity of what we see online
- Immersive virtual worlds where users have property rights
There is more to crypto than grifts, gambling, and political talking points. So forget the price of Bitcoin. The Super Bowl ads and stadium sponsorships. Forget the dog memes, if you can.
Crypto is a movement led by creators, researchers, academics, community builders, and startup founders. It’s driven by technological advances with the power to reshape our digital world. Just as PCs, cloud computing, and mobile phones did.
This is the generation-defining opportunity explored in a new book from entrepreneur, investor, and writer Chris Dixon — Read Write Own: Building the Next Era of the Internet.
So forget the noise. Let’s build the internet we want — not the one we inherited.
***
The authors hold digital assets, including fungible and non-fungible tokens from some of the companies mentioned. They also advise companies and serve as experts on marketplace and incentive design, web3 strategy, NFT brand-building, and other topics.
The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities, digital assets, tokens, and/or cryptocurrencies are for illustrative purposes only and do not constitute a recommendation to invest in any such instrument nor do such references constitute an offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments for which the issuer has not provided permission for a16z to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://a16z.com/investments/.
Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://a16z.com/disclosures for additional important information.