The internet has brought an explosion of new ideas, possibilities, and progress. But as the Web has evolved, extractive and predatory models have become dominant, shifting the internet’s awesome power from people to major platforms. Algorithms and financial models behind these platforms have fueled polarization, incentivized the spread of misinformation, eroded democratic institutions, and stretched social fabric to the brink. At the heart of this is social media, which has transformed how we connect, consume and share information, and create community. With the dawn of Web3 and a new internet era on the horizon, we have a unique opportunity to build the digital infrastructure needed to restore trust and support a stronger democracy, fairer economy, and more just society.