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Andreessen Horowitz, a major venture capital firm that also goes by the name a16z, is said to be helping Elon Musk after his Twitter acquisition.
Sriram Krishnan
On Sunday afternoon, Sriram Krishnan, general partner of crypto business Andreessen Horowitz, shared a photo of Twitter’s San Francisco office.
The photo has a note revealing that Krishnan was temporarily helping Elon Musk with “some other great people.”
“I (and a16z) believe this is a hugely important company and can have great impact on the world and Elon is the person to make it happen,” he added.
Read also: GameStop brings Web3 gaming into its marketplace
Sriram Krishnan previously worked at Twitter in the San Francisco area between 2017 and 2019.
He has worked on several consumer products, including Twitter’s Events feature.
Krishnan’s LinkedIn profile also reveals his contribution to the number of users on the platform.
He was instrumental in growing the platform by more than 20% in two years.
Krishnan also previously worked for several tech giants, including Facebook, Snap and Microsoft.
However, it remains to be seen what features Krishnan will be working on this time.
Web3
Andreessen Horowitz’s interest in the social media platform aligns with the company’s optimistic view of Web3.
Web3 is the next internet level where users can own digital assets, use cryptography, and take back control of their data.
As of May, Andreessen Horowitz has invested over $7.6 billion in crypto and blockchain-related projects.
Although crypto funds have been down 40% since the start of this year, the company remains optimistic.
However, whether Twitter’s presence will steer the social media company toward a Web3-friendly direction remains to be seen.
Read also: Dogecoin climbs higher after Elon Musk’s Twitter purchase
Other notes
Binance has invested $500 million in Musk’s Twitter purchase to create a team that will help reduce bot activity.
Binance CEO Changpeng Zhao said he supports Musk’s acquisition because he is a “strong entrepreneur.”
“We want to make sure that crypto has a seat at the table when it comes to free speech,” said Zhao.
The Binance CEO said he wants to help bring the platform to Web3 when they are ready.
Twitter has implemented some cryptographic integrations compared to Discord,
In addition, the platform has set up address fields for Ethereum and Bitcoin wallets for the tipping feature.
Twitter has also added NFT verification to convert profile photos into hexagonal shapes for Twitter Blue buyers.
Reference:
Andreessen Horowitz ‘temporarily’ helping Elon Musk with Twitter
