>I'm not sure where your getting "90%". There are dozens of different blockchains and currencies...Are you suggesting most of every crypto is controlled by a single entity?

Not a single entity, but 90% of all crypto is controlled by fewer than 10% of all crypto holders. Some tokens are worse than this, some are better.

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>DAOs are not beholden to the person holding the most mining/staking power in the dao treasury's ecosystem

Then how do hackers control DAO voting when they steal 90% of the underlying token? Why wouldn't more tokens = more votes unless you specifically created equality for all (which would render the token meaningless).

>Companies have an archaic, top-down, authoritarian structure modeled on the military. They are not fun to work for, do not care about their employees or customers, and can only focus on short term profits.

In many cases, but I was granted significant shares in my company, which makes me more invested. Would I rather be paid in shitcoins that might be stolen or fluctuate wildly in value, and cost me money to convert to USD? Not really.

>Daos are flexible, have no leadership costs, and are typically focused around an ideology. Its like freelancing, except you have guaranteed work. You have a say in how the companies profits are spent and invested.

What are some examples of large, successful for-profit DAOs?

>people can always create new blockchains and currencies to avoid being trapped by a chain

No network effects, difficulty in communication between chains. I see this as a major downside for most use cases.

>It really isn’t any different than standard equity ownership and investing,

This is what I am worried about. Crypto is already wildly unequal (over .90 Gini coefficient).

What does the technology add in this case? DAOs seem like they add unnecessary complication and even more inequality. I am sure there are some great niche applications (buying the Declaration of Independence), but I don't see any major killer applications on the horizon.

Seems like we would have some more examples of great use cases by now with all the money chasing this space.

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>I don’t think a DAO will imply a cryptocurrency-related company in the near future

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>The organization needs to be architected from the start to be equitable and fair to users.

A DAO that is not organized around blockchain or a speculative token sounds a lot like an employee-owned co-op.

If you are proposing a blockchain without a speculative token involved, how would you pay for the storage and compute time?

How is an organization “flat” if those who hold more coins (stake) have more votes?

*lose (not “loose”)

For-profit DAOs would be dominated by the same early-adopters and whales as other crypto spaces.

I don’t see this as an improvement. The Gini coefficient of the crypto space is over .90.

Most tokens are owned by whales and early adopters. How could a for-profit DAO avoid becoming captured by a few dominant stakeholders, while still incentivizing buy-in?

Genuinely asking.

The crypto economy has a Gini coefficient over 90%. This means that whales and early adopters hold almost all the “stakes”, so they will be in control of any DAO that exists to generate profit.

DAOs will find their niche, but they won’t replace traditional corporations because they don’t solve more problems than they introduce.

All Web 3.0 projects are basically efforts to increase speculation in tokens that are already concentrated in the hands of the few. Unless you are at the top of the pyramid already, you should be rooting for Web 3.0 to fail.

Your feeble skills are no match for the power of the dark side!

Do Your Part!

This is really cool, but the headline is misleading.

An MRI requires the subject to be cooperative and lie still. The headline makes it sound like you can point a mind-reading ray at a random person on the street.