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points form the article:

- Dorsey - who has long been a supporter of Bitcoin and hardly in the Ethereum camp - told his millions of followers that "you don't own web 3" and that "the VCs and their LPs do. It will never escape their incentives

- Trading of non-fungible tokens, or NFTs, on the Ethereum and Solana blockchains has been the most visible manifestation, with many companies now investing in the development of decentralized apps as well as games for those platforms."

- we see the potential for dramatic shifts in industry structure (decentralized, more local/niche/targeted) that could impact current investor perceptions of platform moat/strength, industry input costs, possible headwinds to monetization driven by personalization and potential for shifting media & commerce trends.

- The defining characteristics of a Web 2.0 leader are scale of users, utility-like nature of mobile/desktop applications/services (if not a family or ecosystem of apps) & low to no distribution costs (companies have gained broad based familiarity with some turning into verbs)

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