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a16z Partner Sriram Krishnan Shares How Web3 Can Fix Social Media and Consumer Applications

Sriram Krishnan, a partner at venture capital firm Andreessen Horowitz (a16z), delivered a keynote speech at the Ethereum Community Conference 6 (EthCC) where he presented how Web3 can solve the problems of social media and consumer applications. Krishnan emphasized that social media is outdated and needs to change.

He believes that Web3 has the potential to address the issues of locked-in followers, limited API support, and lack of economic benefits for creators. Krishnan suggests that Web3 social platforms should target underserved communities and high-status individuals, and refrain from introducing financial incentives at the start to focus on building communities.

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