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Show Notes

[00:01:39] - [First question] - How a lawyer ends up in crypto and early thoughts of what a DAO could achieve

[00:05:09] - Why the first DAO failed and what convinced him to push forward anyway

[00:08:28] - Forming the LAO several years after Ethereum and why it was his starting point

[00:11:46] - The original state of LAO and the goals it set out to achieve

[00:14:21] - What it is about Silicon Valley that led to having such a blindspot

[00:16:03] - Launching Flamingo and achieving such high multiples on returns

[00:18:05] - Defining the hive-mind that makes a DAO so special and powerful

[00:20:51] - Their investment process, making decisions, and monitoring investments

[00:22:47] - Comparing the speed of decision making to traditional VC funds

[00:24:18] - Why they own 242 crypto punks and 22 bored apes

[00:26:31] - Internal voting on how to decide which NFTs to buy and how many

[00:29:15] - Whether or not they sell their NFTs to rebalance the portfolio or raise liquidity

[00:30:56] - How Rage Quitting a DAO works and the implications of leaving

[00:32:12] - Encoding incentives and course-correcting negative behavior

[00:34:11] - Varying levels of dedication and freeloading within a DAO

[00:36:36] - A maximum amount of people that could function efficiently in a DAO

[00:37:52] - How many DAOs should one person be a part of?

[00:38:45] - Thoughts on DeFi DAOs like Compound and Uniswap

[00:41:41] - Differences between a DAO and a Wrapped DAO

[00:44:02] - Is it possible to achieve this level of organization with fiat currencies?

[00:45:34] - Where we are in regards to securities laws and regulations with DAOs

[00:47:48] - How far we are from buying tokenized shared of DAOs

[00:49:07] - Where to start when building your own DAO

[00:51:03] - Other possibilities DAOs could unlock

[00:52:30] - The best way to get involved yourself

[00:53:41] - What he’s most focused on building over the next 6 months and 10 years