Darkside of the DAO

How can decentralized autonomous organizations (DAOs) build digital communities with intentionality? What does it look like to manage contributions within the flat hierarchy of a DAO? Which areas of the economy do DAOs best serve?

Today we’re tackling the power of community building, why we do it, and how the web3 ecosystem facilitates DAO creation and maintenance.

But first, a little background. A DAO is a community of people who come together without a central leader. They’re built on a blockchain using smart contracts, and members often buy their way in by purchasing a governance token specifically for the DAO.

DAO tokens allow members to vote on decisions around how the pool of money is spent and managed. Members can join worldwide and often communicate with each other on Discord channels.

Julia Lipton, the founder of DAO Master, joins us to give us insight into the making of DAO Masters and share her experience building strong digital communities. Starting with a plan to research the top twenty DAO tools, DAO Masters has become an exceptional resource for the ecosystem.

In this episode, Julia and I talk about why many of us have a complicated relationship with money, the future of community building within DAOs, the pros and cons of decentralization, why DAOs tend to attract a global audience, the essential elements of a sustainable community, and more.

Highlights

Introducing Julia Lipton & DAO Masters

How Julia transitioned from Web2 to Web3 in her businesses

Confronting our relationship with money

Growing beyond the savings-focused family tradition

The future of community building within DAOs

The powerful effects of ownership

How DAOs best serve the economy

The accidental DAO

Managing member contributions

Pros and cons of decentralization

Differentiating between backers and contributors