The model of a company having strict boundaries between internal and external may have made sense in the Industrial Age, but in the Information Age, this model leads to misaligned incentives and unsustainable extraction.

Some people push against what they see as the financialization of everything from art to identity, while others defend the idea by saying this is the way to make capitalism work in a more equitable, favourable way. The debate can go on endlessly, and there are great points on both sides. But it's undeniable that DAOs are only beginning to make thei... See more

-The second downside is that a lack of ownership means that no one is responsible when things go wrong. Bitcoin doesn't have a way to censor your decision to move money from one address to another or even a protocol-level sense of whether you're buying Alpaca socks or a rocket launcher... But this also means that the protocol can't tell when you me... See more

The company, then, is a modern phenomenon, at least in the way we usually think of it. What seems so embedded and intractable today — the default for most new ventures ​​— is really just humanity’s latest attempt to solve the problem of coordination.