<story><title>Crypto enthusiasts want to buy an NBA team, after not purchasing US Constitution</title><url>https://www.npr.org/2021/11/26/1059413217/crypto-enthusiasts-want-to-buy-an-nba-team-after-failing-to-purchase-us-constitu</url></story><parent_chain><item><author>paxys</author><text>Correct me if I&amp;#x27;m not understanding this DAO &amp;quot;revolution&amp;quot; correctly:&lt;p&gt;- A group of people pool some money together.&lt;p&gt;- The money is used to buy assets&amp;#x2F;fund projects.&lt;p&gt;- Members vote on spending, governance etc., with their vote being proportional to their investment.&lt;p&gt;- They can raise money by issuing more &amp;quot;tokens&amp;quot; for new investors.&lt;p&gt;- Existing members can sell their tokens to someone else.&lt;p&gt;Like, congrats crypto community, you just invented a...public company?</text></item></parent_chain><comment><author>jimkleiber</author><text>Exactly, a public company that skirts KYC&amp;#x2F;AML laws and securities laws.&lt;p&gt;I&amp;#x27;m not saying I necessarily agree with those laws, I just see much of the &amp;quot;DAO revolution&amp;quot; as designed to &amp;quot;free the people&amp;quot; into investing anonymously and without accredited investor requirements, without directly trying to change the laws.&lt;p&gt;One thing I think it does that most don&amp;#x27;t talk about: allows people to register a global company&amp;#x2F;org. Right now, I think the highest level to register an org is the nation-state level, not much, if anything, exists at a global level.</text></comment>
<story><title>Crypto enthusiasts want to buy an NBA team, after not purchasing US Constitution</title><url>https://www.npr.org/2021/11/26/1059413217/crypto-enthusiasts-want-to-buy-an-nba-team-after-failing-to-purchase-us-constitu</url></story><parent_chain><item><author>paxys</author><text>Correct me if I&amp;#x27;m not understanding this DAO &amp;quot;revolution&amp;quot; correctly:&lt;p&gt;- A group of people pool some money together.&lt;p&gt;- The money is used to buy assets&amp;#x2F;fund projects.&lt;p&gt;- Members vote on spending, governance etc., with their vote being proportional to their investment.&lt;p&gt;- They can raise money by issuing more &amp;quot;tokens&amp;quot; for new investors.&lt;p&gt;- Existing members can sell their tokens to someone else.&lt;p&gt;Like, congrats crypto community, you just invented a...public company?</text></item></parent_chain><comment><author>SturgeonsLaw</author><text>It&amp;#x27;s more like a co-op. The difference is that every participant has a voice. With the traditional public company - with few exceptions - decisions are made only by the board and the execs.</text></comment>