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I've read this take a number of time and I really think the VC crowd is mostly missing the point when it comes to why DAOs etc are able to get such good talent.

by jsonne 5y ago

I've read this take a number of time and I really think the VC crowd is mostly missing the point when it comes to why DAOs etc are able to get such good talent. 1. I would wager a good amount of people working on DAOs would never have gotten a job at Google. This isn't poaching the top tier talent from FAANGS but rather unlocking an ignored pool of talent because they lack traditional credentialism. To wit one of our investors is a co-founder of Sushiswap. Knowing them I don't think its possible they would have ever been considered for a FAANG position. 2. People mostly just want to work when and where they want with clear objectives and a chance to earn a good chunk of what their labor produces. I would argue for many that having a decent equity stake in a startup that is worldwide remote solves for this. I keep hearing about this war for talent over and over and even though we're functionally a nobody seed stage startup I've never felt it because from day 1 we've been worldwide remote and asycnh. People say they can't find developers but the last time we posted a job we got 300+ applications in less than 24 hours and probably 1/3rd were reasonably qualified. DAOs are fine. I think they'll exist to some degree moving forward, but it isn't the end all be all I think some folks make it out to be.

spottybanana 5y ago
Also have to be noted, that the change to make bucketloads of cash from shitcoin peddling is something the traditional corps can't offer. Yeah for sure something like sushiswap requires talent, but it is only couple of years old and is already churning out millions if not billions. With many other business lines the same work/reward rate just isn't there.
guico 5y ago
"2. People mostly just want to work when and where they want with clear objectives and a chance to earn a good chunk of what their labor produces. I would argue for many that having a decent equity stake in a startup that is worldwide remote solves for this." So true. And the challenge to this, at least in Europe, has nothing to do with technology - it's a legal challenge. The process of issuing and trading shares of a company is super simple in itself, it's the regulation that makes it hard. And since securities regulations apply to things like profit-sharing tokens... then, good job, you just solved nothing and made the tech 10x harder.
andygcook 5y ago
> 2. People mostly just want to work when and where they want with clear objectives and a chance to earn a good chunk of what their labor produces. I would argue for many that having a decent equity stake in a startup that is worldwide remote solves for this Do you run into a lot of overhead managing all the different laws in each country for full-time employment and equity compensation?
- jsonne 5y ago
  So far no. There's lots of companies that help achieve this now such as remote.com that make it significantly easier.

by jsonne 5y ago

spottybanana 5y ago

Also have to be noted, that the change to make bucketloads of cash from shitcoin peddling is something the traditional corps can't offer. Yeah for sure something like sushiswap requires talent, but it is only couple of years old and is already churning out millions if not billions. With many other business lines the same work/reward rate just isn't there.

guico 5y ago

"2. People mostly just want to work when and where they want with clear objectives and a chance to earn a good chunk of what their labor produces. I would argue for many that having a decent equity stake in a startup that is worldwide remote solves for this." So true. And the challenge to this, at least in Europe, has nothing to do with technology - it's a legal challenge. The process of issuing and trading shares of a company is super simple in itself, it's the regulation that makes it hard. And since securities regulations apply to things like profit-sharing tokens... then, good job, you just solved nothing and made the tech 10x harder.

andygcook 5y ago

> 2. People mostly just want to work when and where they want with clear objectives and a chance to earn a good chunk of what their labor produces. I would argue for many that having a decent equity stake in a startup that is worldwide remote solves for this Do you run into a lot of overhead managing all the different laws in each country for full-time employment and equity compensation?

jsonne 5y ago
So far no. There's lots of companies that help achieve this now such as remote.com that make it significantly easier.