This post was originally published on rawcrypto.com.

Our world is changing at arguably the fastest pace it ever has. Now working primarily from home, people begin to understand that what they are doing may not be worth the trouble. Of course, there are two sides to this story, and it’s not equally easy for everybody to come to this conclusion.

The Covid-19 pandemic has given us time to think about our future and the opportunity to reflect on what we really want. While we all want different things in general, there are everyday needs in life that we all share.

Big media has called it “The Big Resignation,” while others more accurately describe it as “The Big Renegotiation.” It is the latter that I personally agree with. But what is it that we’re renegotiating?

Time and Money

These are the two things we all would like more of. Time and money. More money to spend on nice things, and more time to spend on these things and the people we love. Traditionally, this may sound like an oxymoron. Making more money while working less? Impossible!

But why does it feel impossible, what if it isn’t?

Top-Heavy Capitalism

As somebody that lives in Dubai — arguably among the last bastions of capitalism — I value capitalism to a certain degree. But hear me out: nothing is perfect, and nothing is meant to last forever.

Companies have long been conditioned to serve primarily two types of people: shareholders and executives. Changing this concept for more traditional companies will take a whole lot more than a global pandemic.

But what if there were entities already doing just that? What if they not only provided more equality for contributors (think: employees) but also provided real and achievable opportunities for co-ownership, all while paying fair compensation?

Introducing: Web3 DAOs

Decentralized Autonomous Organizations (DAOs) started as “the latest trend” in 2017. They were all the talk with Aragon, raising a whopping $25M (about $753M today) to govern decentralized DAOs. Fast-forward 5 years, and raising millions for a DAO through an ICO seems like a crazy idea.

That is because, Nowadays, DAOs are started and governed by the community for the community. Often with minimal funding, to launch something meaningful and, together with contributors, establish a treasury that can sustain whatever is being governed in the long run.

The equation here is simple: money is infinite (literally), particularly in crypto, but human resources are not. A DAO with a convincing idea can quickly attract people for free to do things traditional companies would pitch VCs for and take potentially months or longer to build.

Why Boomers Won’t Get It

Entrepreneurs today argue (rightfully) that they took the risk when founding a new company. They invested into offices, staff, taxes, marketing & other expenses associated with running a traditional business.

By that logic, they should own the most significant part of the pie should that business becomes a success. This does make sense as a general construct, but unfortunately, all-time high corporate greed and capitalism have pushed us over the top.

Take Amazon, for example, which used to give stock options to their employees, but in 2018 decided to stop. In turn, they raised the minimum wage to $15 and were praised for it, too.

The Guardian had this to say on the matter:

If Amazon’s 1.2 million employees together owned the same proportion of Amazon’s stock as Sears workers did in the 1950s — a quarter of the company — each Amazon worker would now own shares worth an average of more than $350,000.

Of course, different qualifications deserve to be paid case-by-case. The above quote is a drastic oversimplification, but it does demonstrate where most of the money is going. Today, only about 10–30% of a company’s profit goes to its employees.

And companies wonder why people quit their jobs. 🙃

How Are DAOs Different?

DAOs, on the other hand, usually have a tiny, often self-funded treasury, which they progressively seek to build by doing good. For example, a DAO might govern a decentralized exchange or marketplace where a small cut of every transaction (think: 0.1–2.5%) goes to the treasury.

That treasury is used according to its governance, which is voted for by the people. Voting power is usually provided through tokens or NFTs. Not for the select few, but everybody choosing to be a part.

Contributors of any kind will have fair, public, and accountable compensation, voted for by the people. A fair approach to ownership, equality, and money. An entirely different concept, incompatible with company’s today.

Where do we go from here?

Capitalism isn’t going anywhere, and neither will traditional businesses. But I believe that companies in the future will face fierce competition, and people in the future will have a choice.

If you think that person is you, but you don’t know where to start, fair enough. Knowledge is everywhere, but it’s hard to find it in a concentrated manner.

Your best bet is simply to get started. If you’re currently employed, take an hour or two a day and learn about what is happening here. It’s not only about Bitcoin or NFTs but rather about the impact these technologies will make.

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Peace 👋🏻 — Rob