Ian Lee: DAOs With Explicit Mandates Are Vastly More Successful
Ian Lee · Ian Lee: Why DAOs Will Replace Venture Capital; Biggest Threat to Web3 | 20VC #893 · 20VC with Harry Stebbings · Jun 8, 2022 · at 11:46
Ian Lee is the co-founder of Syndicate, a Web3 investment protocol. He reflects on structural patterns determining DAO sustainability.
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“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, whereas ones where they have a very explicit purpose, whether it's, for example, to buy the Constitution of the United States within a matter of weeks, or ones where, for example and these are some of the DAOs that are on syndicate, like, A DAO that is specifically formed to invest in more female founders in the crypto and web three space over a long period of time. Those ones have a lot of success because they have staying power”
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