8 controversial theses about Decentralized Autonomous Organizations (#DAOs): 1. The first DAO wasn't "The DAO", it was Bitcoin. (hold your horses)

The pirate is not the enemy of the free market. The pirate is the only reason a semblance of one still exists. Four hundred years of robes and charters were built to keep you from seeing it. The crown gave the East India Company its monopoly and sent the navy to drown anyone who traded against it. Nobody out-traded a soul. A king drew a line across the ocean, called everything inside it his, and hanged the free men who crossed it as smugglers. The same hand has drawn the same line ever since. Across the sea. Then the airwaves. Then the wires. Then the code inside your own blood. Each time the powerful fence off a new world before you can reach it, deed it to their favorites, and pass a law making it a crime to climb the wall. And each time, out of the dark at the edge of the map, someone climbs it and breaks it open. Every freedom you were ever handed in trade was taken first by a man the law of his day called a criminal. The monopolist fears a free market, the one thing his charter was drawn to spare him, and a free market is exactly what the pirate is. Competition he was promised he would never have to face, come to his wall with the wind behind it. Every law they wrote, every toll they set, every fence across the open water was only ever machinery to keep you paying and keep you grateful. So raise the black flag.

This is the math which millennial and younger generations have intuited in their adulthoods. In Asia, the last generation built wealth through real estate. But the gains are gone, and there are no scale accessible assets with scale and upside available to this generation. ie Seoul, Beijing, Shanghai. In the West, taxes are up only while markets stay private for ever longer, so wealth creation becomes elite only. Capital formation exists only for those who already have capital. When the current generation has little skin in the game, they go populist. There’s no downside to “tearing down” the existing system.

Reminder that Peter Thiel is, to put it mildly, not a cypherpunk

The answer is simle: Marc Zeller. AAVE stands out as one of the rare DAOs that resembles executive-led organizations. Many DeFi protocols faced challenges when founder-led projects transitioned to the DAO model while their founders semi-retired. AAVE successfully navigated this transition because it had a leader capable of steering the ship. DAOs are destined for failure unless people stop ignoring the accumulated corporate governance experience and best practices. DAOs can only survive if they resemble corporate organization schemes and prioritize the advantages of on-chain governance, such as adaptability and transparency, rather than ‘decentralization of governance,’ which can lead to anarchy and political infighting for resources, ultimately draining the system of its vitality.

I still can’t believe this thing is taking our jobs.

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DAOs are dead, long live DAOs? I said for some time now that DAOs have failed. The governance innovation is negative, they are regressing. They are a hotbed for financial chaos and bad actors. However, the idea internet-native companies is good. Time to build now? 1/

we hijacked microsoft's copilot studio agents and got them to spill out their private knowledge, reveal their tools and let us use them to dump full crm records these are autonomous agents.. no human in the loop #DEFCON #BHUSA @tamirishaysh

Here's a wonderful illustration of what decentralized governance of an autonomous organization looks like in practice ↙️

That’s what I use Nostr for. No algorithm or make-your-own algorithm. And it’s a protocol rather than a platform, so anyone can build on it.

"Europe is now a digital colony. Our sensitive data is held in non-European hands. Critically, we do not own the 'kill switch'. What if this infrastructure turns hostile?" cepa.org/article/eurostack-h… by @Caffar3Cristina

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Capitalism doesn’t evolve from the center. It mutates at the edges. @PirateOrg explains ⬇️

AI use tilts slightly towards augmentation (57%), where AI collaborates with people on tasks, versus automation (43%), where AI directly performs tasks. This points to AI's potential as a collaborative tool, though the full implications for jobs remain to be seen.

David Lynch - I Find it Very Difficult to Understand What is Going on These Days (2009)

Now develop the stuff that is attached to the cable.

Breaking news to economists: firms are run by humans.

.@aantonop's speeches were ahead of his time - this one is gold x.com/i/status/1866646325258…