4 ms·
I think the article is conflating investment with governance, or at least it may read like that to a general audience. The idea of raising money from the publi
by dakom 5y ago
I think the article is conflating investment with governance, or at least it may read like that to a general audience.
The idea of raising money from the public isn't new. Kickstarter, GoFundme, Girl Scouts, and "crowdfunding" in general have all been around for a while. At a certain point, this is what stocks are too.
The difference is that without a DAO, the investors have no guaranteed say over the product itself. One could fund 100% of a Kickstarter project and yet it is the project owner who has final say over the product design and most business decisions.
A DAO is about distributing governance. For example, if Apple were organized as a DAO, then the stockholders would vote on whether or not the new MacBooks have a TouchBar. Or if McDonald's were a DAO stakers could vote on bringing the McRib back.
It's a scary but fascinating proposition. Are stakeholders qualified to get their hands dirty with product design? Does the general public really know what it wants?
One way to find out...
- 1cvmask 5y agoYou can structure a DAO where the principals govern and the others are issued a worthless advisory token like the recent DAO to buy the paper Constitution.