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Bitcoin just hit $57k once more!
Meanwhile, per DeepDAO's intel, the DAO treasury's ballooned to $40 billion!
And we're here for another week, riding the wave, through thick and thin.
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5 factors of DAOs Greatness
Thank Ape
Dilly Dilly
RnDAO Talk
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DAOs Market Brief
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💊 5 Factors of Business Greatness
Recently, during a file organization session, I encountered an image saved from a time ago.
And, of course, my mind, forever captivated by the dynamism and promise of DAOs, immediately sprang into action.
Could this framework, originally devised to assess the robustness of traditional businesses, hold relevance in the decentralized ecosystem of DAOs?
I found that the answer is a resounding yes!
First and foremost, let's give credit to the creator of the image. Vishal Khandelwal is the founder of Safal Niveshak, an educational platform for investors.
The image is a Venn diagram based on Warren Buffet's 2019 letter. Yes, the same Warren who has described crypto as "probably rat poison squared."
FUD aside, now let's delve into the crux of the matter.
Let's explore how these five factors can be translated and applied to the context of DAOs:
High-Quality Managers: In the world of DAOs, the quality of the management team translates to key contributors and community leaders. Although the structure is flatter and decision-making more distributed, it remains crucial to have individuals who possess a clear vision, solid technical skills, and exceptional project management capabilities.
Attractive Return on Capital: For a DAO, this could be interpreted as the value generated for token holders and participants. It's not just about financial gains but also intangible returns such as learning, networking, and the satisfaction of contributing to meaningful projects.
Top-Notch Culture: DAOs, free from traditional corporate hierarchies and bureaucracies, depend even more on a strong and cohesive culture. A culture that fosters open collaboration, transparency, and inclusion is vital for keeping members engaged and for attracting new talents to the ecosystem.
Enduring Economic Advantages: In the DAO space, this translates to an organization's ability to sustain and strengthen its value proposition in the market. Whether through continuous technological innovation, the accumulation of intellectual property, or the creation of an active and committed community, DAOs need to cultivate their own competitive advantages to stand out.
Financial Strength Helping Against External Shocks: Volatility is a constant in the crypto world, making financial resilience essential. A DAO must manage its treasury wisely, diversify its assets, and be prepared to adapt to market changes to ensure its longevity and ability to withstand periods of uncertainty.
By considering these 5 factors through the lens of a DAO, we emphasize the importance of adapting and reinterpreting established business principles to be relevant in new paradigms.
💬 Final Thoughts
In short, despite the diverse world of DAOs, the golden rules of business still apply.
For your DAO to thrive like a business, prioritizing top talent, seeking valuable returns beyond profits, fostering transparency, and maintaining financial resilience are essential.
These elements smooth the path, ensure goals are met, and foster a strong community vibe.
Leverage classic business smarts in the DAO world is a great decision!
🏆 DAO Showcase
This week, I'll spotlight Thank Ape, an initiative by Ape Coin DAO ( Read my full analysis here).
Thank Ape rewards valuable contributions within its community using an automated system, aiming to strengthen and expand the ApeCoin community by recognizing significant efforts.
DAOist Spotlight
This week's DAO champ is Vulkan, an ApeCoin DAO Secretary, who pens a free newsletter called "The Bulletin Bored" to unravel everything going down in the DAO.
If anyone's the epitome of a Good Contributor, it's Vulkan!
😆 Meme of the Week
👀 Must-See
Catch the RnDAO conference by Sam Spurlin, a partner at The Ready and seasoned advisor to Fortune 500 companies, as he explores DAOs and their potential to reshape organizational culture positively.
Quick hits before you go!
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