DAOs

“You'll have millions and millions of doubts created. Many of them will fail. Many of them will look very similar to what we would expect just reasoning through it. And some small percent, 10% of them will wildly break our expectations about what's possible.”

“Is I absolutely think we will recreate a lot of the known governance structures in society. We will recreate representative government, for example, where there are experts and you sort of delegate your votes to them and then they go off and make decisions tha…”

“And I think for us to really know which of these experiments from governance or economic game theory perspective are durable, I think it's going to take seven to 10 years.”

“And if you believe that, then the end state likely of this trend that's been happening for more than two decades is likely going to lead to some sort of model and system that will be powered by web three endowed technologies behind them. And that is the bet th…”

“Over the long run, when we're thinking about 10 to 20 year plus time spans, it's likely that the new to world markets are actually going to outsize the existing ones, and that's absolutely what we think Syndicate is going to do.”

“Purposeful DAOs, where they have explicit mandates and very specific ones. Tend to do much better. So if you have, like, a DAO that's just kind of very generic and doesn't really have a clear purpose, those ones have a much harder time sustaining themselves, w…”

“As it relates specifically to DAOs I, we do believe that DAOs are going to lead to fundamentally new organizations that don't easily or don't exist in today's world. A good example of this is like, you know, some of these DAOs that are popping up right now in …”

“And one would assume that if these DAOs are to be successful over time, much like companies, institutional investors over time will find direct access to these DAOs. Now it might take like, you know, 10 years, five years, 15 years, but if this is already happe…”

“Contrary to what DAO stand for, there's some efficiency in centralized organizations and having centralized operational capabilities, which is kind of similar to venture.”