Governments are known for wasting money. Why?

- People who spend the money didn't have to earn it,
- Decisions are democratic, so it's hard to hold people accountable for wasted money,
- Money is public, so people treat it more lightly than their own $.

How do DAOs ensure they don't become like governments?

Working on /niche-internet
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^Genuine question. I remember when I was VP of the Students Council at my University and we faced these problems all the time

building degen.poidh.xyz - fully onchain bounties with collectible NFTs - come chill /poidh

do you know any org that works that way? would be interesting to follow

stop pooling money in giant pots and then deciding what specifically to do with the money

name the clear, specific task that needs to be done, raise for that, then move on to next task and raise specifically for that

I think in the long run the big treasuries of centralized orgs will seem outdated

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

cto @ bwl.gg (lunchbreak.com), 80M+ users (bdut.ch) 🙏 built @remindme, @mintit, @gpt, @healthbot, farcantasy.xyz

c/acc - 🏴‍☠️🌊 Bring me that Horizon 🍹
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Nf.td/syed

thanks, @syed! quadratic voting isn't perfect, but it worked p well in Colorado.

also @macbudkowski, encourage you to check out @erik's conversation with Joe Lonsdale on his new pod "Upstream": https://www.youtube.com/watch?v=9hSkrLQw-Eg. Lots of talk about aligning incentives, accountability, etc. lmk what you think!

I'm a massive fan of retroactive funding 🚀

Increasingly coming around to the idea of quadratic voting and retroactive funding as an interesting solution. Curious to see how it scales up. Shout out to @ted and @farcasteradmin.eth

Interesting point. Do you think in DAOs benefits outweigh the disadvantages? If so why it's not like that in a government - is it a matter of size and different conflicting goals it has to pursue?

IMO in some cases, the ability to waste money or spend excessively is a super power. Pooled funds are insensitive to individual budgeting constraints/norms which can lead to spending that wouldn’t have happened otherwise.

maybe this is too spicy, but the main reason to me has been the incestuous relationships, especially revolving doors for lobbying and contracts.

if DAOs have more moderated votes like pairwise coordination subsidies (https://ethresear.ch/t/pairwise-coordination-subsidies-a-new-quadratic-funding-design/5553) & the...