My Kind of Highroad Gone Wrong
Perfecting Equilibrium Volume One, Issue Eight
Nothing will corrupt us/Nothing will compete/Thank god heaven left us/Standing on our feet
When failure is your best example
There’s a lot of buzz about decentralized autonomous organizations, about how they usher in a new era of distributed democratic organizations and fundraising.
But there are several problems with this theory. For one, voting by token sounds an awful lot like voting by property owners, no? How much progress is a return to feudal times?
Worse, what does it say about any technology when the best example of its success is a massive failure?
One of the most out-of-the-blue crypto headlines of 2021 is probably ConstitutionDAO. A hurriedly assembled group of United States constitution-loving crypto believers. The group raised more than $47 million in Ether (ETH) to purchase an original copy of the United States constitution at auction. The group ultimately fell short in its bid but the audacity of that endeavor brought DAOs power to crowdfund to mainstream attention.
The ingenuity of that move and what it nearly accomplished provides a template for how traditional crowdfunding could be better managed. ConstitutionDAO got tens of thousands of addresses to donate $47 million without a marketing team or a dedicated growth director.
Top DAO News Reports
Because sure! Doubling down always makes things less complicated: At the forefront of this trend is DAODAO, a platform launching in May that claims to make creating a DAO as easy as setting up an Instagram account. Led by crypto veteran Nader Al-Naji, DAODAO is pioneering unique social features that could be crypto’s first real attack on the traditional social media space.
Why do I think these guys have never actually worked in a startup? Startups tend to be a handful of crazed true believers, not a committee: DAOs could revolutionize how startups are run
It took COVID to get most companies to accept Work From Home. And most are trying to get employees back in the office. So this seems unlikely outside of the gig economy. As DAOs proliferate, instead of having one employer and a 40-hour workweek, we might contribute several hours a week to several DAOs. This is already typical amongst early adopters to the space. Today’s creator economy, populated by vloggers, bloggers, and podcasters, can give us a glimpse into what the Web3 working world might look like, with the typical creator earning income from a variety of projects such as coaching, consulting, and content monetization on various platforms such as YouTube, SubStack, and Patreon.
Play stupid games, win stupid prizes
I’d a bet good money that Napster, Limewire and Winamp have all been out of business for more than a decade: Napster joins Limewire and Winamp by jumping on the web3 bandwagon
Corrections and Clarifications
But All I got is a Photograph was Issue Seven, not Six. We apologize for the error.