Because smart contracts are uneditable, you cannot evolve them, there is no flexibility. Traditional contracting relationships constantly evolve, this is lost in smart contracts

-Show the public the benefits for private companies to do what governments have long done (real separation of power)

Giving the board too much power to make a decision that would destroy the company

-They need to have genuine external independence

You can do it without “fancy” equipment; the built-in microphone will suffice in most cases. Speed-wise, Noah is speaking as he would speak to an audience; communicating his ideas

The Oversight Board (Supreme Court of Facebook) is something Noah is very excited about to see how it will develop in the future

DAO’s existed before (guilds, labor unions). They can do certain things very well but some decisions are hard to make, like competition with another entity, coordination of action beyond initial purposes of the organization

Will the future bring algorithms that have the capacity for internal evolution? They need to expand on flexibility, this is what makes traditional contracts so powerful

Decentralized Autonomous Organizations (DAOs) have no hierarchical system for resource distribution; the focus is on the decision making of the collective