The Dao of DAOs - Not Boring by Packy McCormick

DAOs could out-compete by out-cooperating the modern firm.

Aggregators are incentivized to limit composability. By contrast, the value of a web3 token may actually increase when composed with other systems. The money flowing through web3 is mediated by open source smart contracts, rather than closed source software owned by corporations. This feels completely asymmetric. I cannot imagine a Facebook or Goog... See more

The promise of DAOs lies in self-governance. With the appropriate tools and mechanics, contributors can onboard, coordinate, reward one another, rather than relying on one single point of failure. In absence of such infrastructure, decisions will continue to be made arbitrarily and consensus cannot scale across the network.

• What was the aha moment for Scott with crypto?
  
  
  • Scott was aware of crypto early, but very skeptical. Saw that everyone was trying to decentralize just for the sake of it. But decentralization has costs. Centralized entities are often more effective in coordinating interaction.
  
  
  • His opinion started to change with examples of use-cases where tech was

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