6 ms·

We need a new type of company that can never be acquired.

techntoke 6y ago
DAO: https://en.wikipedia.org/wiki/Decentralized_autonomous_organization https://en.wikipedia.org/wiki/Decentralized_autonomous_organ...
- f38zf5vdt 6y ago
  So if I'm reading this right... the participants of the DAO can band together and sell their company to a company as well? It looks like a DAO just requires some kind of cryptocurrency to participate, and then the participants get control over the operations of the DAO. So ownership is transferable at any time by these parties.
  - techntoke 6y ago
    It would have to be built into the DAO smart contract. You could make a smart contract where it can't be sold.
- floatboth 6y ago
  That definitely cannot be acquired. No sane business would want to convert actual money into fun bucks and put those into a buggy script that would lock everyone out if someone pwns it.
  - elwell 6y ago
    > convert actual money into fun bucks What is more 'fun'? USD in bank account, USD as cash, DAO, or gold? I would think those are monotonically decreasing in 'fun'-ness. "Actual" money is not a good word for printable items of arbitrary scarcity. Not arguing for or against GP, just saying.
lidHanteyk 6y ago
By definition, worker coops are never acquirable by private controlling interests; they are always employee-owned.
ValentineC 6y ago
Ghost (blogging software) chose to incorporate as a Company Limited by Guarantee [1], which doesn't have shares and can't be acquired that way: https://ghost.org/changelog/moving-to-singapore/ https://ghost.org/changelog/moving-to-singapore/ [1] https://en.wikipedia.org/wiki/Private_company_limited_by_guarantee https://en.wikipedia.org/wiki/Private_company_limited_by_gua...
- Galaxeblaffer 6y ago
  Sweet, i kind of knew it already existed, but this type of structure is just so damn rare. I guess most founders are really just motivated by the pot of gold at the end of the rainbow :/
  - ValentineC 6y ago
    It only really works for bootstrapped non-profits, and for projects that are entirely volunteer-driven. No VC would be able to invest in something like this (unless it's a grant like what YC does for non-profits [1]). Even Mozilla Foundation [2] was spun off from Netscape, and heavily supported by AOL in its early years. [1] https://www.effectivealtruism.org/articles/why-nonprofits-should-apply-to-y-combinator/ https://www.effectivealtruism.org/articles/why-nonprofits-sh... [2] https://en.wikipedia.org/wiki/Mozilla_Foundation#History https://en.wikipedia.org/wiki/Mozilla_Foundation#History
deleted 6y ago
[deleted]

DAO: https://en.wikipedia.org/wiki/Decentralized_autonomous_organization https://en.wikipedia.org/wiki/Decentralized_autonomous_organ...

f38zf5vdt 6y ago
So if I'm reading this right... the participants of the DAO can band together and sell their company to a company as well? It looks like a DAO just requires some kind of cryptocurrency to participate, and then the participants get control over the operations of the DAO. So ownership is transferable at any time by these parties.
- techntoke 6y ago
  It would have to be built into the DAO smart contract. You could make a smart contract where it can't be sold.
floatboth 6y ago
That definitely cannot be acquired. No sane business would want to convert actual money into fun bucks and put those into a buggy script that would lock everyone out if someone pwns it.
- elwell 6y ago
  > convert actual money into fun bucks What is more 'fun'? USD in bank account, USD as cash, DAO, or gold? I would think those are monotonically decreasing in 'fun'-ness. "Actual" money is not a good word for printable items of arbitrary scarcity. Not arguing for or against GP, just saying.

lidHanteyk 6y ago

By definition, worker coops are never acquirable by private controlling interests; they are always employee-owned.

ValentineC 6y ago

Ghost (blogging software) chose to incorporate as a Company Limited by Guarantee [1], which doesn't have shares and can't be acquired that way: https://ghost.org/changelog/moving-to-singapore/ https://ghost.org/changelog/moving-to-singapore/ [1] https://en.wikipedia.org/wiki/Private_company_limited_by_guarantee https://en.wikipedia.org/wiki/Private_company_limited_by_gua...

Galaxeblaffer 6y ago
Sweet, i kind of knew it already existed, but this type of structure is just so damn rare. I guess most founders are really just motivated by the pot of gold at the end of the rainbow :/
- ValentineC 6y ago
  It only really works for bootstrapped non-profits, and for projects that are entirely volunteer-driven. No VC would be able to invest in something like this (unless it's a grant like what YC does for non-profits [1]). Even Mozilla Foundation [2] was spun off from Netscape, and heavily supported by AOL in its early years. [1] https://www.effectivealtruism.org/articles/why-nonprofits-should-apply-to-y-combinator/ https://www.effectivealtruism.org/articles/why-nonprofits-sh... [2] https://en.wikipedia.org/wiki/Mozilla_Foundation#History https://en.wikipedia.org/wiki/Mozilla_Foundation#History

deleted 6y ago

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