BREAKDOWN: Will DAOs Transform Power in Venture Capital Fundraising?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 19 July 2021
⏱️ 18 minutes
🧾️ Download transcript
Summary
VCs may lose their position as gatekeepers to startup success.
This episode is sponsored by NYDIG.
In addition to the deep dive into distributed autonomous organizations, or DAOs, and their future in venture capital, today’s “The Brief” covers:
- Bitcoin futures trading approved for some Bank of America clients
- Stablecoin discussions entering the upper echelons of U.S. government
- The bubble continuing to inflate as markets roll over historical indicators
SushiSwap, the decentralized exchange based on Uniswap, is proposing to sell a portion of its treasury to venture firms as part of a broader diversification plan. The community finds itself torn in half over the announcement, with some advocating for the benefits of seasoned expertise and others vehemently denying the need for institutional investors.
SushiSwap’s “VC-versus-community” debate provides a case study on the growing world and strength of DAOs. VCs have previously held the essentially sole power over the fate of startups, but in the case of SushiSwap, they are now forced to be in open negotiation with the community.
This power shift presents a window into the vitality of DAOs, stemming from their democratic and global nature, dynamism and anonymity. Will DAOs succeed as the internet native form of organization?
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NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
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The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom.
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Transcript
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| 0:43.9 | Wondery UK. That's audible.com slash Wondery UK. |
| 0:49.4 | It's not just that power has shifted from the VC to the quote-unquote startup. It's that the power |
| 0:54.8 | itself is being distributed in general into this messy, chaotic process where ideas are |
| 0:59.8 | smashing up against ideas and influence and outcomes are based at least in large part |
| 1:04.0 | on who can convince the most in the community of the rightness of their position. |
| 1:09.8 | Welcome back to The Breakdown with me, NLW. |
| 1:13.9 | It's a daily podcast on macro, Bitcoin, and the big-picture power shifts remaking our world. |
| 1:21.1 | The breakdown is sponsored by Nidig and produced and distributed by CoinDes. |
| 1:27.4 | What's going on, guys? It is Monday, July 19th, and today we're... and produced and distributed by CoinDesk. |
| 1:33.7 | What's going on, guys? It is Monday, July 19th, and today we are talking about Dow's and whether they have the potential to transform power in venture capital fundraising. |
| 1:39.8 | First, however, let's do the brief. And before the brief, one quick caveat. I'm actually |
| 1:44.5 | recording this on Sunday evening because I'll be traveling tomorrow. So if some crazy |
| 1:49.4 | thing happened that I'm not covering, that's probably why. But with that said, back to the |
... |
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