# Another startup that made a pivot from web3 ➡️ AI shuts down

Source: https://twitter.com/itstimconnors/status/1694384852810797517
Kiwi News: https://news.kiwistand.com/stories/Another-startup-that-made-a-pivot-from-web3-AI-shuts-down?index=0x64e86d4b406eeba64172c1fb26bddfc05dcf485eb1a39f3491c6d72790880e703999cda5
Submitted by rsquare.eth on 2023-08-25 UTC, 1 upvote, 0 comments

## Summary

The company behind @101dotxyz, a web3 education platform, has decided to shut down and refund its investors. The founder says the company bet that the web3 industry would mature enough to create a sizable market, and after two years the space has made progress but still does not offer a meaningful market for the product. The team considered pivoting to AI-generated tutorials by dropping the web3 elements, but decided that product would require different insights, expertise, and enthusiasm, and saw no clear path forward.

## Article

We've decided to shut down @101dotxyz

I apologize to all of our users for the silence on our part for the past few months, we needed the space to consider our next step. I know many of you expected different news. 

The story is simple: we made a bet that didn't play out. 

We built a web3 education platform believing the industry would mature in time for us to have a sizable market. It's been two years now, and although the space has made strides forward, it does not offer a meaningful market for our product.

We considered a pivot, ditching the web3 elements and embracing AI-generated tutorials, but we decided that such a product was so different from what we'd built that it would require completely different insights, expertise, and enthusiasm. 

We are not building for the sake of building. We are building to change the world in the ways that excite and inspire us. And with that constraint in mind, there was no clear path ahead. So instead of wasting resources, we've decided to refund our investors and shut things down.

The past two years have been an incredible journey for myself and the rest of the team. It's always sad to shut things down, but I'll always look back on this time with fondness. We learned so much and met so many incredible people. To everyone who's been a part of our journey: thank you. 

As for me, I'm enjoying a brief hiatus from the startup grind, but I'm looking to sink my teeth into a new project soon. Send me a message if you think I could be useful to what you're building. My cofounder and CTO @alecvxyz is open to work as well.