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1) I think there's some merit to this argument! But I also think there are ways around it, and some things it might be missing:

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Aaron Levie

@levie

Dec 31, 2021

The vision of web3 is that we get all the same innovation of today’s web, but with the new benefit that we can “own” our data in a public and immutable blockchain, using this data across multiple apps. It’s a great vision, but might be harder than we think.

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11:30 PM · Jan 5, 2022Twitter Web App

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2) First of all, you don't have to put *everything* on a blockchain. It's totally true that you need to keep iterating and innovating! But *some* things could go on-chain.

SBF

@SBF_FTX

Jan 5

3) For instance, if you put social media messages (maybe just text to start) on-chain, then any network could use that protocol. Most of the innovation isn't in how to represent text on a blockchain--it's on the user experience of a network, that could innovate on top.

SBF

@SBF_FTX

Jan 5

4) Second, this is already a big problem right now: getting companies to communicate is hard. You can't send midpoint orders on most brokerages because every intermediary would need to implement them for it to work. At least web3 creates standards people could try to adhere to.