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Decentralized Autonomous Organizations v3.pptx
- 1. DECENTRALIZED AUTONOMOUS ORGANIZATIONS 09/2023 How DAOs will change the world https://twitter.com/shawnlgrubb BTC:$26221
- 2. LEARNING OBJECTIVES Able to describe basic characteristics of the DAO Can outline a few differentiators between the DAO and traditional business Understands the theoretical DAO vs. practical DAO Can articulate potential challenges for the DAO
- 3. What question should come to your mind when listening to anyone new?
- 4. Raised! Shawn Grubb 2004 2008 1995 B.S. Business Administration Operations Mgmt. Mgmt Info Systems. ERP Systems Mgmt. Graduate: SAP University Alliance Startup: Top Notch Entertainment (6 employees, $100K annual revenue SOLD! Guest Speaker: “Managing Global teams” Project Manager: Vita Acquisition Barcelona Spain Project Manager: Pharma manufacturing outsourcing in France Healthcare & Pharmaceuticals Product Supply/Manufacturing Married Hasnaa! IT Portfolio & PMO Director for $250 Million US portfolio KARZ K9FM KPPL KALF KLRS First Career: Radio Music & Media: Values: Character – Integrity & Courage, Family & Faith Passions: Running – Hiking – Teaching – Real Estate Strengths Finder: Strategic – Futuristic – Command – Competition – Self-Assurance 1990 Promotion Masters in Business (MBA): International Management Xavier University $12B BeautyCare business unit divestiture: Global Master Data Program Manager Northern California Procter & Gamble IT: Cincinnati: 2000 SAP Global Core Financials: NA Accounts Payable Implementation Systems Analyst at P&G Global Business Services P&G IT: Project Manager (Frankfurt) 2001 SAP Implementation Dreieich Germany SAP Core Logistics Blois France SAP Implementation Bournemouth UK SAP Implementation Italy Plants & DCs P&G IT: Portfolio Director Pain Specialists of Cincinnati: CEO Career 3: Career pivot back to HealthCare, but in private practice P&G Pet Care: CIO P&G: Sr. Program Manager Twitter: @shawnlgrubb SAP Implementation Casablanca Morocco P&G Healthcare: Program Director (Paris) Acquired Physical Therapy and Chiropractic business unit Integrated opioid compliance unit Sabbatical: Socially distant sabbatical: Designed, planned, & built (my own 2 hands) a multi- story off-grid tiny home 2012 2015 Startup a new Pain clinic in Cincinnati! 2017 2020 Direct a $14 million shared services budget for the $2 billion business Direct the divestiture of shared services to MARS. Hasnaa and Shawn welcome Baby Adam! Promotion Built high-complexity CLIA Laboratory Guest Speaker: High Complexity Labs – do they still make sense? Adjunct professor: business analytics, marketing, statistics & information systems PMP Certification P&G IT leader for 2012 London Olympic Games Promotion Relocate to Germany Relocate to France Return to the USA
- 5. November 2020: Bull market technical trader - October 2021: “you are not doing it to get rich and have a nice car. That’s lame that’s boring, that been done. We are doing this to build a better financial future for every single person in the world." Nov. 2021: Governance & People Ops. Aug 2022: Governance design Aug. 2023: Grants & Governance design
- 7. WHAT IS A DAO? DECENTRALIZED AUTONOMOUS ORGANIZATION A LEGAL STRUCTURE THAT HAS NO CENTRAL GOVERNING BODY AND WHOSE MEMBERS SHARE A COMMON GOAL TO ACT IN THE BEST INTEREST OF THE ENTITY. Decentralized Autonomous Organization • Collection of individuals with a goal in common • Actively share decision making across stakeholders • Principally shun or reject the centralization of decision making • Actively move decisions to the lowest level of expertise • Celebrate the autonomy of the individual and the sub-units • Contributors don’t particularly like being told what to do • Matches resources to needs & organizes labor
- 8. LEADERSHIP • Objective: build shareholder wealth • Objective: build stakeholder health • Decisions are top-down • Community makes decisions • Intellectual property is protected • Intellectual property is shared COMPARING TRADITIONAL BUSINESS WITH THE DAO 1.
- 9. THE WORK (HUMAN CAPITAL) Employees are retained Contributors are voluntary Challenge to engage employees Challenge to direct passion Responsibilities and jobs are assigned Choose what you want to work on COMPARING TRADITIONAL BUSINESS WITH THE DAO 1I.
- 10. III. MANAGING • Regionally managed workforce • Globally sourced contributors • Reporting lines managed centrally • Contributors choose whom to work with • Let’s make quick decisions • Good decisions take time • Initiative is rewarded • Initiative is the cost of entry COMPARING TRADITIONAL BUSINESS WITH THE DAO
- 11. IV. STRATEGIC PLANNING & BUDGETING Often managed by a central orgs Often overlooked by contributors History of solid practices for development Few examples of it being done well Led by experts in the field Stumbled through by founders COMPARING TRADITIONAL BUSINESS WITH THE DAO
- 12. INCENTIVES I: “THERE IS ONE AND ONLY ONE SOCIAL RESPONSIBILITY OF BUSINESS—TO USE ITS RESOURCES AND ENGAGE IN ACTIVITIES DESIGNED TO INCREASE ITS PROFITS.” M. FRIEDMAN
- 14. INCENTIVES III DOES IT HELP TO THINK DIFFERENTLY? politea vs. politics I represent the best interest of the thing I represent the best interest of my constituents
- 15. DECENTRALIZATION Centralized Autonomous Old World Companies Technology Sector Ideal DAO DAO Reality Military Crowd
- 19. Sir. Yes Sir! “GO BUILD 100 WIDGETS”
- 39. ADVANTAGES OF DECENTRALIZATION • Diversity / innovation • Adaptability / flexibility • Redundancy / resilience • Engagement / ownership • Local autonomy
- 40. ITS NOT ALL BUTTERFLIES AND BUNNY RABBITS
- 41. CHALLENGES FOR THE DAO: DECENTRALIZATION Centralized Autonomous Old World Companies Technology Sector Ideal DAO DAO Reality Military
- 42. CHALLENGES FOR THE DAO: DIRECTION AND FOCUS: VISION MISSION & STRATEGY • What is Vision-Mission- Strategy? • How do we use them? • Who develops them? • How do we get to alignment? • What if we don’t agree? • Who ensures we are on task?
- 43. CHALLENGES FOR THE DAO: REGUL ATORY UNCERTAINTY • (How) do I pay my taxes? • Unknown Legal liability • What regulations apply? • Is my token a security?
- 44. CHALLENGES FOR THE DAO: GOVERNANCE What is voted upon Who votes on what How much is a vote worth Consensus methodology Decentralization theater
- 45. Smart contract risks Leadership risks Delegation risks Governance attacks Sybil attacks CHALLENGES FOR THE DAO: MATURITY
- 46. AI AND THE BLOCKCHAIN • Algorithmic Trading: • Smart Contracts: • Security and Fraud Detection: • Data Analysis: • Automation of Governance:
- 47. SSDD SAME S^&T DIFFERENT DAY 1. DAOs have refugees 2. DAOs have new grads 3. Refugees have escaped a TradBusiness 4. Noobs are excited to be here 5. Building new stuff is hard 6. Reapplying old stuff is easy 7. Refugees will do what is easy 8. Noobs won’t know the difference RISK: Refugees will centralize & create hierarchies Because its what we know DAOs contributors build Traditional Businesses with the patina of a DAO
- 48. THANKS!
- 49. POAP! SEP 14, 3:0 PM - 3:30 PM Code: quality-reach-break Apple App Store Google Play
- 50. APPENDIX
- 51. CONTEXT IS EVERYTHING: COMPARING TRADITIONAL BUSINESS WITH THE DAO • Traditional Business • Objective: build shareholder wealth • Intellectual property is protected • Decisions are top-down • Employees are retained • Challenge to engage employees • Regionally managed workforce • Clear reporting lines • Responsibilities and jobs are assigned • Initiative is rewarded • DAOs • Objective: build community results • Intellectual property is shared • Community makes decisions • Contributors are voluntary • Challenge to direct passion • Globally sourced contributors • Choose whom you work with • Choose what you want to work on • Initiative is the cost of entry
- 52. RESOURCES AND REFERENCES FOR FURTHER READING • https://www.mckinsey.com/featured-insights/corporate-purpose/from-there-to-here-50-years-of-thinking-on-the-social-responsibility-of- business • https://crypto101podcast.com/podcasts/ep-396-designing-the-best-products-in-the-world-with-simon-judd-of-index-coop/ • https://x.com/SpartanRegen/status/1643451178855038976 • https://x.com/shawnlgrubb/status/1596509502136025088 • https://x.com/PirateOrg/status/1650164623608250370 • https://mintzberg.org/blog/three-sectors • https://twitter.com/gigarahul/status/1673182886390902784 • https://medium.com/@shawnlgrubb/why-the-dao-must-resist-mba-thinking-bcaf1330f8ef • https://twitter.com/howdaobook • https://twitter.com/gigarahul/status/1673182886390902784 • https://internetcomputer.org/docs/current/developer-docs/integrations/sns/tokenomics/sns-checklist • https://docs.google.com/document/d/1jxbb3YkrjAT1TUe6W2yCFUAsXUhdVt5JYoJwmMfykoQ/edit#heading=h.xm43iia8mx4f • https://twitter.com/PirateOrg/status/1650164623608250370 • https://x.com/SpartanRegen/status/1643451178855038976
- 53. DAO TWITTER (X) JUMPSTART LIST • https://twitter.com/RohitMalekar • https://twitter.com/karmaticacid • https://twitter.com/hudsonsims • https://twitter.com/owocki • https://twitter.com/paulofonseca__ • https://twitter.com/clinamenic • https://twitter.com/gospelofchange • https://twitter.com/post_polar_ • https://twitter.com/gigarahul • https://twitter.com/b3nnn21 • https://twitter.com/gilesmanly • https://twitter.com/lost2b1 • https://twitter.com/0xcryptotax • https://twitter.com/JKim_Tran • https://twitter.com/DAOscope • https://twitter.com/lunarpunk_0x • https://twitter.com/MangoxSweat • https://twitter.com/raykanani • https://twitter.com/alks_cryptoecon • https://twitter.com/IncompleteRules • https://twitter.com/ArtemysiaX • https://twitter.com/sophiadew_ • https://twitter.com/theNFThinker • https://twitter.com/exiledsurfer • https://twitter.com/MacroCoinflip • https://twitter.com/PirateOrg • https://twitter.com/ameensol • https://twitter.com/brichis_ • https://twitter.com/8ctopuso • https://twitter.com/riversmind • https://twitter.com/MannanMorshed • https://twitter.com/Puncar_ReFi • https://twitter.com/SpartanRegen
Notes de l'éditeur
- Is it a new kind of organization? Yes, and no. Closest comparison at scale might be a Co-operative: - 100 years ago your family might have been wheat farmers - good price for grain, but a better price for flour- but building a grain mill is expensive - you and 10 of your neighbor's pitch in money and effort and build a grain mill - you all agree to send your wheat to the mill, it makes and sells flour and the owners sell flour vs. grain, at a better price. - the point of the mill is not to make a profit – it is to help the farmers, mill the grain, and provide flour for the community, the bakers, Who can name a co op today? REI – What is an example of REI not putting profit above all else? #OptOutside (Black Friday)
- Directing passion: its like a herd of cats – get a group of passionate, ambitious, proactive thinkers, with a healthy distrust of authority – and they are off! Choose who you want to work with – At index I had a personality conflict with a guy – I met, and we tried to see eye to eye and we fundamentally had different objectives I chose not to work with him. Story: in the DAO I get to work with people I want to work with, I can spin up a 2 month trial contract with zero cost. In the INC, I have to pass it by a b c PepperoniJoe PaytonRose FeemChats
- Globally sourced contributors – my project team is in Canada, Israel, Montenegro, and the US - I don’t care where someone is located – I just need good people Initiative: not easy to get into. Often there is no application to fill out, no co-op or internship
- My first dao I asked “what is the mission” Six different (but mostly related) answers May DAOS are formed by visionaries, not organizational experts Many times driven by technical developers – they want to build and code! When the development of core north star documents like Mission, vision, values statements – are brought up “organizational navel gazing”
- Q: What is shareholder wealth? Q: Who are stakeholders? (owners, employees, customers, consumers, the community, the environment) Example: Split room into thirds Customers Employees Owners (decision makers) Recent publications will say something different – but institutions move slow 2012 MBA From Xavier – a Jesuit university – The objective of business is to deliver better than average returns to the shareholders
- Quote from BigSky “you are not doing it to get rich and have a nice car. That’s lame that’s boring, that been done. We are doing this to build a better financial future for every single person in the world." Recent publications will say something different – but institutions move slow 2012 MBA From Xavier – a Jesuit university – The objective of business is to deliver better than average returns to the shareholders
- Politeia, (Statesman) In Greek means the community of citizens in a city / state. Governance for the thing My people over your people politics: the activities associated with the governance of a country or other area, especially the debate or conflict among individuals or parties having or hoping to achieve power. Governance for my constituents
- Not always appropriate. If there is a fire
- Optimism – a huge layer two condition of employment: move out of the United States Collegue was told NOT to work on his DAO while in Morocco (where crypto has been banned)
- https://twitter.com/RohitMalekar https://twitter.com/karmaticacid https://twitter.com/hudsonsims https://twitter.com/owocki https://twitter.com/paulofonseca__ https://twitter.com/clinamenic https://twitter.com/gospelofchange https://twitter.com/post_polar_ https://twitter.com/gigarahul https://twitter.com/b3nnn21 https://twitter.com/gilesmanly https://twitter.com/lost2b1 https://twitter.com/0xcryptotax https://twitter.com/JKim_Tran https://twitter.com/DAOscope https://twitter.com/lunarpunk_0x https://twitter.com/MangoxSweat https://twitter.com/raykanani https://twitter.com/alks_cryptoecon https://twitter.com/IncompleteRules https://twitter.com/ArtemysiaX https://twitter.com/sophiadew_ https://twitter.com/theNFThinker https://twitter.com/exiledsurfer https://twitter.com/MacroCoinflip https://twitter.com/PirateOrg https://twitter.com/ameensol https://twitter.com/brichis_ https://twitter.com/8ctopuso https://twitter.com/riversmind https://twitter.com/MannanMorshed https://twitter.com/Puncar_ReFi https://twitter.com/SpartanRegen