David Rosenthal: belief

Transcript context

…Yeah. Why couldn't you have an organization that runs in a provable code legislated way? The idea is, in a DAO, the allocation of resources—be it capital, or time, or effort, or dev resources, or whatever—get allocated in a decentralized way by people who hold the tokens of the DAO. Everybody can vote and there are protection mechanisms for minority token holders versus the majority. Anybody can take their money out at any point in time if they disagree with the direction the DAO is going, but it's a decentralized organization. Okay, pretty cool. The Slock.it guys, they're like, we're going to be a DAO. If you don't like what we're doing, you can vote, you can have a say in the governance of Slock.it. If you don't like what we're doing, you can take your money out, then you decide to go even one step further. They say, actually, we think the Slock. it thing is cool, but there might be other things people think are cool, maybe cooler than Slock.it. We'll allocate our money to anything, and we'll just let the DAO decide where the money is going to go. It's like a reverse Berkshire Hathaway. Everyone has a say in capital allocation.…

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