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This Week in Startups

Breaking down Rivian’s IPO & $100B valuation + DAO deep dive with OpenLaw’s Aaron Wright | E1324

This Week in Startups

Jason Calacanis

Technology

4.21.4K Ratings

🗓️ 11 November 2021

⏱️ 75 minutes

🧾️ Download transcript

Summary

First, Jason analyzes Rivian's IPO and gives his thoughts on the current valuation (2:05). Then, Aaron Wright from OpenLaw joins (22:13) to discuss Decentralized Autonomous Organizations (DAOs). At OpenLaw Aaron has helped launch 9 DAOs by providing legal structure, tooling and infrastructure. They talk digital contracts, why Aaron thinks DAOs are better for investment decisions and more!

Transcript

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0:00.0

Hey, everybody. We have a great show for you today. I am going to interview Aaron Wright. He is from Open

0:05.6

Law, a company which is breeding branding to be called Tribute Labs. Long and short, he is the

0:10.8

smartest individual in the Dow space. He set up a dozen of these Dows. They're all crushing it.

0:17.0

If you don't know what a Dow is, it's a decentralized autonomous organization. It's a fancy way of saying

0:22.0

a collective of people in a chat room who make financial decisions according to a smart contract

0:26.9

in voting based on their ownership. Anyway, it's a brave new world, kind of like LLCs, but programmable.

0:33.6

It's all the rage in crypto. I actually think that this is one of the great use cases for crypto.

0:39.1

So we're starting to see now, hey, my skepticism of the ICOs and Bitcoin and some of this stuff

0:44.2

is now starting to, when we get to the application layer, starting to make sense to me. But before that,

0:49.6

speaking of disconnected from reality, Rivian has IPO. It's worth $100 billion. I'm going to do a lot

0:55.0

of math on this. They've only delivered like 150 cars and they delivered them to their employees.

0:59.1

This is a bit crazy. It's totally disconnected from reality. I'm going to take the holding apart

1:03.0

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1:07.8

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1:13.6

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1:20.5

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1:27.6

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1:34.4

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1:38.4

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1:48.5

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1:54.8

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2:02.2

using offer code twist. EV startup Rivian started trading on Wednesday and the stock has

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