VC Needs Web3 More Than Web3 Needs VC

https://mirror.xyz/basedjoan.eth/4wDicgYAjuc_orutZSJszys4Am3kRuLKkjlmjOBBbXI

8 4 5 years ago

... nobody needs 'web3', just like nobody needed the blockchain grifters.

smoldesu• 5 years ago

Yeah, no. Web3 is going to need someone to invest in it, because otherwise there's not really an incentive to mint things on the blockchain. I'll be sticking with the regular web for the rest of my life, any message that I could conceivably want to deliver to the outside world works fine on HTTPS.

dakom• 5 years ago

I think the article is conflating investment with governance, or at least it may read like that to a general audience.

The idea of raising money from the public isn't new. Kickstarter, GoFundme, Girl Scouts, and "crowdfunding" in general have all been around for a while. At a certain point, this is what stocks are too.

The difference is that without a DAO, the investors have no guaranteed say over the product itself. One could fund 100% of a Kickstarter project and yet it is the project owner who has final say over the product design and most business decisions.

A DAO is about distributing governance. For example, if Apple were organized as a DAO, then the stockholders would vote on whether or not the new MacBooks have a TouchBar. Or if McDonald's were a DAO stakers could vote on bringing the McRib back.

It's a scary but fascinating proposition. Are stakeholders qualified to get their hands dirty with product design? Does the general public really know what it wants?

One way to find out...

1cvmask• 5 years ago

You can structure a DAO where the principals govern and the others are issued a worthless advisory token like the recent DAO to buy the paper Constitution.

VC Needs Web3 More Than Web3 Needs VC

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