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a16z's crypto head on breaking Big Tech's grip

MIchael Flaherty
Aug 23, 2022
Chris Dixon. Photo: Getty Images

Andreessen Horowitz is betting on crypto to break up Big Tech's concentration of power, a16z partner Chris Dixon tells the FT.

Why it's the BFD: Dixon's view suggests that the firm's crypto wing is aimed at dismantling the anti-competitive behavior that allowed Big Tech to grow so concentrated in the first place.

Of note: a16z was an early investor in Web 2.0 companies like Facebook, Pinterest and Twitter before setting its sights on web3.

Details: "The idea of having the internet controlled by five companies is very bad for entrepreneurs and bad for VCs," Dixon said.

What they're saying: Dixon's "comments come as the firm is seeking to hone a new investment strategy built around cryptocurrencies and digital tokens to replace the traditional equity investments made by VC firms and create a new, community-led model for investing in high-growth start-ups," the FT notes.

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