The key question is this: how are votes enforced when they impact non-blockchain related actions? That is, Who pays the taxes on the people that get hired? Ho

The key question is this: how are votes enforced when they impact non-blockchain related actions? That is, Who pays the taxes on the people that get hired? How is non-blockchain income distributed? Who do you sue if a vote violates a labor law? How does the DAO purchase or pay for services from non-blockchain entities? If a DAO token is "equity" then it will fall under security regulations of various nations. In addition, it cannot be equity unless the DAO is also a registered company in some jurisdiction.