The author is confusing a ponzi scheme with a bubble. A ponzi scheme implies deception (get a fantastic interest rate which is clandestinely being supplied by y

The author is confusing a ponzi scheme with a bubble. A ponzi scheme implies deception (get a fantastic interest rate which is clandestinely being supplied by your own invested funds). Since The DAO is completely open in the way it works, that would be impossible by itself. The author actually talking about the creation of a bubble. However, usually, bubbles are created in things where the potential profit is unclear. Otherwise it's hard to justify. Who would buy The DAO at a greater price then its book value in ether, if they simply expect to extract the same amount of ether out of it after 48 days? So, such a move by The DAO will probably not create a bubble or "a ponzi" or whatever. It simply is an investment choice with likely no far reaching implications, as far as I can tell.