The New Creator Economy - DAOs, Community Ownership, and Cryptoeconomics

There were two major pieces of native functionality that have been left out up until recently - payments and state.

The internet itself has thrived because of native internet protocols that we use everyday, like http, ftp, tcp, and ssh. One of the reasons these protocols have been so successful was that they were widely adopted and not subject to change. If I build a site using http, people can use it without any centralized intermediary - we can trust that it i... See more

Blockchains have enabled both of these things, opening the door for programmable money and state without the need of a centralized server, bank, or any intermediary at all.

One of the driving forces and the one that resonates with most people (and me) is that Web3 enables ownership.

In Web2 companies, cash usually comes from investors and there is no value returned to them for years. Ownership is largely concentrated in the first handful of employees along with their investors.

Shared ownership is a characteristic you'll see carried across all areas of Web3, including how we think about companies and incentive structures around how business is done.