DAOs

“So when you add all these three things together, I think to me it's the most incredibly positively disruptive force I have seen. I think it will destroy wealth. I frankly couldn't give a fuck. And I think it's better for the world.”

“We talked about these things as if they already are here, and they're not quite here. I mean, technically, I know they exist, but people haven't really figured out how to Use them to, you know, to be a fund manager, for example.”

“And I think it's going to force the accreditation laws to change.”

“The next deal will end up being some shitty art piece that's worth a hundred grand as Chamath points out. They'll buy it for ten million, everyone will lose their ass. And the next 500 will look the same.”

“Structurally what's going to happen is there are going to be more of those things that are going to show up that will rip people off and that will heighten regulatory interest and people will come along and they'll start to clamp down on this stuff.”

“I say DAOs because I believe that they will become legal and global capital formation for the first time on an instant basis will exist, and I believe forty million is the dry run for the Constitution, four hundred million and four billion will happen in the n…”