DAOs Have a Long Way to Go - Decrypt - Deepstash

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You may have read that we at Decrypt are in the process of building a media DAO with friends and advisors from Gitcoin, Friends with Benefits, ACJR, The Defiant, and more. In the open and public spirit of DAOs, we've been radically transparent in sharing our lessons from the sandbox .

One of my biggest takeaways: DAOs are noisy and chaotic. After you discuss something at length in the Discord group, you head to Discourse to post a proposal; later on, when you want to determine how many tokens every DAO member should get, you have to use Coordinape.


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Even Cooper Turley, a 25-year-old millionaire and co-founder of multiple DAOs (he's @Coopahtroopa to his 56,000 followers), admits that DAO-land is a "Wild West" right now and says that needs to change . And he's not the only one. At the Messari Mainnet conference this week in New York, scores of the speakers that Decrypt interviewed said they're in more than 20 different DAO groups. How can people in 20+ DAOs give each one their equal time and attention?

They can't.


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"Most people can't meaningfully work in more than two or three DAOs," Kevin Owocki of Gitcoin told us . "So a common pattern is that people will have their main squeeze, the DAO that they spend 80% of their time on, and then 20% of the time they'll dabble in two or three other DAOs. I think that's healthy and good."

Turley gave a similar breakdown of time commitment: "90% of your DAO members will be passive, they won't do anything; 9% will be on the edges, contributing at the fringes; and 1% will be very active contributors," he said.


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Maybe the truth is that "DAO," much like "cryptocurrency," is already becoming an inaccurate buzzword. "I think DAO is sort of a misnomer," Owocki said. "We're really just talking about... digital organizations."


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#engineering, #machinelearning and #crypto


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