“I don’t think that any of us expected this level of concentration,” he told the Financial Times’s Tech Tonic podcast. “I don’t think this is a good outcome, both societally and from a business point of view, because our business is investing in entrepreneurs . . . the idea of having the internet controlled by five companies is very bad for entrepreneurs and bad for VCs.” His 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.

https://www.ft.com/content/25a80bed-a7a8-4db8-8153-a1f6aea9c47c?sharetype=blocked