Collectivizing Finance: Why The Future of VC is Multiplayer
Today’s piece was cowritten with David Phelps. Two months in the works, it is about collectivizing finance, but it is also an experiment in collectivizing finance:Collectively commissioned by 14 backers through Ghost KnowledgeCollectively written with contributions by Lila Shroff and Julia LiptonCollectively sold—we hope—through a PartyBid on Zora. Our hope is that a collective group will purchase it as a kind of meta-memento of this strange and wonderful era.Collectively splitting the procee...

The Creator Economy: Money Edition
After being deep in Web3 for awhile now, I’ve been going back to basics and reflecting on areas I’m most excited about. I got into crypto in the first place because I was concerned about the future of the US dollar as the world’s foremost reserve currency. I wanted to understand Bitcoin & Ethereum as assets and form my own viewpoint on whether they might be “digital gold”, as the meme goes - or even something more. Fast-forward 2.5 years since my first real foray into crypto, and I’m convince...

Grants 101: Standing up a Grants Program in Web3
Co-written with Meg Lister If you’ve engaged with crypto projects on any sort of scale, you’ve likely come across grants programs – there are tens, if not hundreds, of such programs in existence across Web3 today. We’ve both worked in DAOs and Web3 for years – which means that we’ve inevitably worked around or with many of the best grants programs in the space. We’ve also both spent time at Gitcoin, where Annika was previously Grants Program Lead and Meg currently leads Product for Grants Sta...
Collectivizing Finance: Why The Future of VC is Multiplayer
Today’s piece was cowritten with David Phelps. Two months in the works, it is about collectivizing finance, but it is also an experiment in collectivizing finance:Collectively commissioned by 14 backers through Ghost KnowledgeCollectively written with contributions by Lila Shroff and Julia LiptonCollectively sold—we hope—through a PartyBid on Zora. Our hope is that a collective group will purchase it as a kind of meta-memento of this strange and wonderful era.Collectively splitting the procee...

The Creator Economy: Money Edition
After being deep in Web3 for awhile now, I’ve been going back to basics and reflecting on areas I’m most excited about. I got into crypto in the first place because I was concerned about the future of the US dollar as the world’s foremost reserve currency. I wanted to understand Bitcoin & Ethereum as assets and form my own viewpoint on whether they might be “digital gold”, as the meme goes - or even something more. Fast-forward 2.5 years since my first real foray into crypto, and I’m convince...

Grants 101: Standing up a Grants Program in Web3
Co-written with Meg Lister If you’ve engaged with crypto projects on any sort of scale, you’ve likely come across grants programs – there are tens, if not hundreds, of such programs in existence across Web3 today. We’ve both worked in DAOs and Web3 for years – which means that we’ve inevitably worked around or with many of the best grants programs in the space. We’ve also both spent time at Gitcoin, where Annika was previously Grants Program Lead and Meg currently leads Product for Grants Sta...

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This is Part 3 in a three-part series. Find Part 1 here and Part 2 here.
As a result of my rapidly-accelerating crypto obsession, in the past couple months I’ve gone from a near-never Discord user to waking up every morning to an overwhelming left-hand sidebar with logos and notifications galore.
These are, of course, the logos of DAOs I’m following.
Since I’m teetering on the brink of being mostly a quiet DAO lurker to becoming a contributing member of these communities, I’d like to document my experience and learnings about DAOs as they are today in 2021.
I think it’s important I do this before I get much deeper and become ‘one of them’ (“one of us… one of us…”), so that I can provide my best layman’s take for the 99% of the planet that isn’t DAO-native. I decided I’d write about my three main learnings from my involvement with DAOs to date, but as usual with my writing, this got real long real quick – so I’m splitting it into three parts to really dig into each and discuss its implications. The three things I’ve learned are:
Let’s dig into #3.
Let’s call it like it is: generally speaking, today, most DAOs are kind of a shitshow.
This is to be expected, given how early things are in crypto and in DAOs generally speaking. There’s also the fact that decentralization, by definition, just straight up requires more coordination.

And, to further pile onto the reasons for messiness, DAOs run on Discord which was built for synchronous gaming, not asynchronous knowledge work (h/t @divine_economy) and can be super overwhelming to jump into… but, I digress.

Overall, the fact that they’re kind of a shitshow is not discouraging to me, but exciting – it’s indicative of how much opportunity lies ahead.
What this means today in 2021, though, is that joining a DAO can be pretty daunting.
Stepping into a Discord group of faceless strangers, trying to make sense of everything from channels, to org structure, to group norms and who’s who – it’s a lot. It’s sort of like being invited into a mid-sized startup’s Slack group where you only kind of know what the company does, there’s nobody you know, and there is very little semblance of org structure.
Most protocols don’t have clear roles that people can just self-guide into - The Graph is the notable exception I can think of here. In general, nobody is going to reach out and tell you what to do – so if you want to get involved in a DAO, you gotta hustle a bit.
Here, I’ll share three tactics that I’ve noticed work well for first-time DAO joiners.
Most established DAOs have at least some sort of onboarding process – whether it’s as basic as a one-page Google form, or as thorough as a multi-step stage gated process. Most DAOs these days lie closer to the former on the spectrum of thoroughness.
This process, which is typically outlined in a Discord channel labeled “#start-here” or something to that effect, should be your first stop.

One way you can immediately add value as a newbie to a DAO is to give feedback on that process – what’s clear? What isn’t? What ideas do you have to improve it? Very often, the people designing and iterating on these processes are so deep into DAO life that it isn’t easy for them to pull back and see it with fresh eyes – so yours are valuable. Use that as a way to contribute.
Joining a 40-person call as the one new person in the room can be intimidating.
Look at DAOs you’re interested in and search them on Twitter – see who in your Twitter follows are involved with that you jive with, check that they’re active in the Discord, and reach out to learn about their involvement.
https://twitter.com/j_asminewang/status/1445395425255694345?s=20
1:1s with people who are already in DAOs can give you so much context that you won’t get just by lurking. A familiar face on these calls is always nice, plus these people can help plug you in if they have some existing context on what you’re interested in and what you’re good at. Some DAOs, like Index Coop, are starting to stand up ‘first friend’ or ‘mentor’ programs to do just this.
I’ll note that this approach is generally accepted and pretty doable now, in 2021, while the DAO space is still small and the community is tight-knit – but in the future, at scale, onboarding processes will need to be more streamlined and adhoc 1:1s might not make sense.
In DAOs, you don’t need permission to do – you can jump right in and add value wherever you creatively see fit.
Good at writing? Summarize a meeting with notes, and share them in the Discord.
Have a big Twitter following? Write about the DAO, tag them, make content.
Creatively inclined? Make a new slide template. An emoji. A meme. Whatever inspires you.
Again, all of this is often easier with context – so I’d suggest doing #1 and #2 above and joining at least one or two DAO calls so you have a sense of what’s going on – but over-indexing on doing early is an effective way to get started.
This brings me to the confidence gap, which @chaserchapman has been incredible at amplifying. “Just start doing” sounds easy in theory, but there’s a big unspoken barrier here – there are many folks who are completely capable but might lack the confidence to step up to the plate, and they risk being left behind.
https://twitter.com/chaserchapman/status/1411010567142350850?s=20
I’ve been there - starting off as a newcomer in a group of insiders is intimidating, no matter the context.
Proactive initiatives like the Women in Index DEI initiative, which launched in the past month, are needed to help bridge that gap and empower people to hustle who might not otherwise do so on their own. This doesn’t just apply to women – but initiatives like this will undoubtedly help increase diversity and bring voices into the space that might not otherwise contribute.

In DAOs, as with anything, you get out what you put in – and, in today’s environment while it’s still early days, the hustle is necessary.
Prospective DAO members should take note, and those running DAOs should make sure they’re doing whatever they can to grab onto those who aspire to hustle and empowering them to do so.
This is Part 3 in a three-part series. Find Part 1 here and Part 2 here.
As a result of my rapidly-accelerating crypto obsession, in the past couple months I’ve gone from a near-never Discord user to waking up every morning to an overwhelming left-hand sidebar with logos and notifications galore.
These are, of course, the logos of DAOs I’m following.
Since I’m teetering on the brink of being mostly a quiet DAO lurker to becoming a contributing member of these communities, I’d like to document my experience and learnings about DAOs as they are today in 2021.
I think it’s important I do this before I get much deeper and become ‘one of them’ (“one of us… one of us…”), so that I can provide my best layman’s take for the 99% of the planet that isn’t DAO-native. I decided I’d write about my three main learnings from my involvement with DAOs to date, but as usual with my writing, this got real long real quick – so I’m splitting it into three parts to really dig into each and discuss its implications. The three things I’ve learned are:
Let’s dig into #3.
Let’s call it like it is: generally speaking, today, most DAOs are kind of a shitshow.
This is to be expected, given how early things are in crypto and in DAOs generally speaking. There’s also the fact that decentralization, by definition, just straight up requires more coordination.

And, to further pile onto the reasons for messiness, DAOs run on Discord which was built for synchronous gaming, not asynchronous knowledge work (h/t @divine_economy) and can be super overwhelming to jump into… but, I digress.

Overall, the fact that they’re kind of a shitshow is not discouraging to me, but exciting – it’s indicative of how much opportunity lies ahead.
What this means today in 2021, though, is that joining a DAO can be pretty daunting.
Stepping into a Discord group of faceless strangers, trying to make sense of everything from channels, to org structure, to group norms and who’s who – it’s a lot. It’s sort of like being invited into a mid-sized startup’s Slack group where you only kind of know what the company does, there’s nobody you know, and there is very little semblance of org structure.
Most protocols don’t have clear roles that people can just self-guide into - The Graph is the notable exception I can think of here. In general, nobody is going to reach out and tell you what to do – so if you want to get involved in a DAO, you gotta hustle a bit.
Here, I’ll share three tactics that I’ve noticed work well for first-time DAO joiners.
Most established DAOs have at least some sort of onboarding process – whether it’s as basic as a one-page Google form, or as thorough as a multi-step stage gated process. Most DAOs these days lie closer to the former on the spectrum of thoroughness.
This process, which is typically outlined in a Discord channel labeled “#start-here” or something to that effect, should be your first stop.

One way you can immediately add value as a newbie to a DAO is to give feedback on that process – what’s clear? What isn’t? What ideas do you have to improve it? Very often, the people designing and iterating on these processes are so deep into DAO life that it isn’t easy for them to pull back and see it with fresh eyes – so yours are valuable. Use that as a way to contribute.
Joining a 40-person call as the one new person in the room can be intimidating.
Look at DAOs you’re interested in and search them on Twitter – see who in your Twitter follows are involved with that you jive with, check that they’re active in the Discord, and reach out to learn about their involvement.
https://twitter.com/j_asminewang/status/1445395425255694345?s=20
1:1s with people who are already in DAOs can give you so much context that you won’t get just by lurking. A familiar face on these calls is always nice, plus these people can help plug you in if they have some existing context on what you’re interested in and what you’re good at. Some DAOs, like Index Coop, are starting to stand up ‘first friend’ or ‘mentor’ programs to do just this.
I’ll note that this approach is generally accepted and pretty doable now, in 2021, while the DAO space is still small and the community is tight-knit – but in the future, at scale, onboarding processes will need to be more streamlined and adhoc 1:1s might not make sense.
In DAOs, you don’t need permission to do – you can jump right in and add value wherever you creatively see fit.
Good at writing? Summarize a meeting with notes, and share them in the Discord.
Have a big Twitter following? Write about the DAO, tag them, make content.
Creatively inclined? Make a new slide template. An emoji. A meme. Whatever inspires you.
Again, all of this is often easier with context – so I’d suggest doing #1 and #2 above and joining at least one or two DAO calls so you have a sense of what’s going on – but over-indexing on doing early is an effective way to get started.
This brings me to the confidence gap, which @chaserchapman has been incredible at amplifying. “Just start doing” sounds easy in theory, but there’s a big unspoken barrier here – there are many folks who are completely capable but might lack the confidence to step up to the plate, and they risk being left behind.
https://twitter.com/chaserchapman/status/1411010567142350850?s=20
I’ve been there - starting off as a newcomer in a group of insiders is intimidating, no matter the context.
Proactive initiatives like the Women in Index DEI initiative, which launched in the past month, are needed to help bridge that gap and empower people to hustle who might not otherwise do so on their own. This doesn’t just apply to women – but initiatives like this will undoubtedly help increase diversity and bring voices into the space that might not otherwise contribute.

In DAOs, as with anything, you get out what you put in – and, in today’s environment while it’s still early days, the hustle is necessary.
Prospective DAO members should take note, and those running DAOs should make sure they’re doing whatever they can to grab onto those who aspire to hustle and empowering them to do so.
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