To date, we see our jobs as commitments taking place on weekdays from 9 am to 5 pm. Of course, some jobs involve different schedules; others may even have additional workdays. But ultimately, we are used to the idea of reporting to one boss and a single company paying our salary.
This is a fundamental reason we witnessed a huge migration in the cities and hubs with more office jobs. San Francisco, especially, saw how its workforce migrated to New York, Texas, and Florida in flocks. Likewise, cities like New York City saw large migrations happening to Florida and Texas.
Now that our brains have learned how to change work paradigms, Web3 has arrived to shift the workforce paradigm 180 degrees. Remote office work has opened the gate to a new breed of workers, and employers are looking at jobs from an entirely different perspective.
The new paradigm has a two-angle approach. First is the upside angle; in the current landscape, participating in your company's success has meant having complex vesting equity packages and a bonus tied to the corporation's performance for the lower workforce tier.
While the horizon seekers insist that web3 is an entirely new world and ecosystem that will replace the current one, I still smile when I read posts from a decade ago where electronic payments would replace hard cash within a decade max.
Web3 is indeed a new paradigm, already creating a stadium full of ideas and projects that will reshape how we organize and operate. For starters, it will bring about new employment, governance, and business models.
When the DAO concept appeared in 2014 with MakerDAO, suddenly, things that were mere chimera out of Techno-fiction stories were becoming a reality.
However, what is not going to change is how the economy works. We are still using payment mechanisms that were with us thousands of years ago. We still have financial products that haven't changed in centuries. The world’s sovereign debts, corporate bonds, and stock markets won't go away in favor of DAOs, decentralized financial products, or blockchains. On the contrary, they will most likely be upgraded and revamped with these new technologies.
Today, when you book an airplane ticket online, you most likely visit one of the large OTAs (online travel agencies) and pay for it. Once it's paid, you get the reservation information on this website with a reservation number that allows you to verify your booking on the airline's website.
What if you want to change the ticket? You may want to try to do so through the airline's website, but oops, 'This reservation is made through a third party website, please contact this website to make any changes to this reservation.'
You are limited to using your OTA's website to do reservation changes and, even worse, seat changes. Sometimes you won't even be able to do so, even by calling the airline.
This inefficiency exists because the integrations between platforms are tedious, cumbersome, and hard to maintain. Moreover, every time one of the many players that have a role in your reservation evolves, the others have to catch up and invest in upgrading their integration.
Those involved in startups know that there is a time, early in the life cycle of the business, between Seed round and Series A round, where most startups die or stall, called the Valley of Death.
Death Valley is the moment of truth for a startup. It is the gap between the “idea of a business model” and the revenue generation from the product, when expenses are high and cash is limited. It’s when the company has to hire the team, build the product, and launch it. It is when they need to show that there is a product market fit and there are potential revenues and profits coming in the future. The company must carefully manage limited startup capital from Angel investors and show enough promise to attract institutional investment, aka Venture Capital. They need to cross Death Valley before they run out of cash.
For DAOs, this moment happens at the very beginning of the DAO setup. This is when the core team needs to rally a community and get everyone to work on the mission and vision of the organization.
There is a misconception about how web3 wallets work. When you are told that you own your information, it doesn’t mean you have your information in your wallet. This well articulated essay about the guts of web3 explain the caveats to the ownership piece in this new paradigm of technology.
When you have information uploaded to
The issue is that your information, while on the private database, cannot be controlled or monitored for proper custody and use. You don’t control whether Meta is doing the right thing with this information or if they are protecting it from hackers adequately.
In this previous article, I talk about my immersion into DAOs.The approach I took to learn about them was to deep dive and collaborate on a few of them. I am still collaborating -and learning.
Furthermore, I have found more resources to help understand the tool universe that web3 is bringing to the equation.
But in this post, I am going to dissect and describe the different governance models of several DAOs.
Note: the governance of a DAO is as fluid as the DAO itself. Because of its decentralized nature, a DAO can vote one day to shift its governance processes, changing the whole mantra in one sweep.