# 10 Conclusions

By [DigitalOil.nftr](https://paragraph.com/@hot.digitaloil) · 2023-06-02

---

  

**#1**

The definition of Nounish.

Nounish (noun)

The principle or attitude embracing the permissionlessness and openness inherent in DAOs, promoting the unrestricted capacity of DAO members to vote according to the majority's perceived best interest for the DAO.

A standpoint of neutrality and acceptance, refraining from strong opposition to any DAO member's opinion or proposal, and allowing the collective will of the DAO to manifest on-chain.

> Nouns should strive to become the ultimate and pure instantiation of Nounish (not quite there)

**#2**

To be at peace with buying / owning a Noun, you need to accept the following: Comparing auction prices to book value is not a meaningful exercise.

In the context of Nouns, where no redemption mechanism exists, the notion of book value is not even applicable or relevant.

**#3**

As there is no redemption from Treasury, your only exit liquidity is currently in the secondary market.

But...

There is currently insufficient market demand for Nouns (< 1 / day) to expect your secondary sale to be above auction prices.

**#4**

When you buy a Noun (apart from the awesome NFT art) you are simply buying a controlling share in a massive Treasury.

The reason to buy is to enjoy having a say in the experiment. Expect zero financial gain by default. Be ready to ride the Treasury to 0 if the flywheel fails.

**#5**

Unless we pivot our proliferation strategy to focus marketing funds on potential Noun buyers (i.e. other nerds like us), it seems likely that eventually each of us will end up with a smaller controlling share of an even more massive Treasury and brand; but lower value Nouns.

**#6**

Good rule of thumb for current state of governmental affairs: Typically, the DAO is roughly divided in 3 thirds (1/3s)

1/3 is unconcerned about expenditures or prop costs as long as the Treasury is put to use towards the founding mission.

1/3 is price-conscious, but still sees a given proposal as fairly priced

1/3 is fiscally conservative

This is why on average aggressively priced props will make it through.

However, as the DAO expands and new members join who may not fully adhere to the original mission, the trend is likely to shift towards more financially conservative proposal pricing.

I've already witnessed the prop pass rate go down since 184 Nouns ago.

**#7**

As interesting as Rage Quit or DAO Split is technologically, it will likely lead us in a downward spiral or will fork us into multiple hedge funds.

I'm still willing to experiment with these possibilities if they are implemented sensibly.

**#8**

The level of talent in Nouns is likely among the highest quality in all of web3. Philosophical, technological, innovative, eloquent, thoughtful talent.

**#9**

As with any social experiment, differing viewpoints and politics is inevitable.

There are groups within Nouns who often share similar perspectives, resulting in echo chambers. It's important to remember that the DAO is shaped by a diverse range of philosophies.

**#10**

Nouns is one of the best things I've ever been a part of and it's a big reason the bear market has been bearable.

---

*Originally published on [DigitalOil.nftr](https://paragraph.com/@hot.digitaloil/10-conclusions)*