A beginner’s guide to DAOs

Linda Xie:

A decentralized autonomous organization (DAO) is a group organized around a mission that coordinates through a shared set of rules enforced on a blockchain.

One of the main benefits of a DAO is that they are more transparent than traditional companies since all actions and funding in the DAO are viewable by anyone. This significantly reduces the risk of corruption and censorship. Publicly traded companies must provide independently audited financial statements, but shareholders only get to see the financial health of the organization at a snapshot in time. Since a DAO’s balance sheet exists on a public blockchain, it is completely transparent at all times, down to every single transaction.

DAOs typically are more globally accessible and have lower barriers to entry than companies. Given the transparency and lower barriers to entry, there will likely be lower switching costs for DAO members who don’t agree with the rules and actions. DAOs sharing a similar mission might need to compete for members and are incentivized to be as transparent as possible and not extract too much rent from the group so that they are able to attract top members. DAOs might also need to quickly evolve to meet the members’ needs.


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?? Chen Shuai:

In December 1989, Taipei’s cold rain was drizzling, and Samsung head Lee Kun-hee (???) went to Taiwan for a study trip. He secretly invited Morris Chang (Chinese: ???/Morris Chang[a][b][c][d]), the founder of TSMC, to have breakfast for one purpose: to poach the 58-year-old veteran.

At this time, TSMC has been silently established for two years, and it is still unknown in the industry. Its “foundry” model was not the mainstream approach of the chip field at that time, and people couldn’t understand it. In 1987 when TSMC was founded, Samsung founder Lee Byung-chul (???) passed away, and his third son, Lee Kun-hee, took charge of Samsung. As soon as he took office, he shouted the slogan “Start-up Again (????)” and made a foray into electronics and semiconductors.

Morris Chang is the talent that Lee Kun-hee badly needs. In 1983, he stepped back from the position of “third-in-command” of Texas Instruments. Although he could just enjoy the American dream of “one house, two cars, three dogs,” he was always unwilling. So two years later, when Sun Yun-suan, “Chiang Ching-kuo’s successor,” invited him to take up the post of president of the Industrial Technology Research Institute in Taiwan, Morris Chang decided to risk it and get out of his comfort zone.

Texas’ oldest Black university was built on a former plantation. Its students still fight a legacy of voter suppression.

Alexa Ura:

To this day, officials in Waller contend the litigation over the 2018 early voting schedule is not a continuation of past suppression tactics. They balk at today’s Waller County being painted with too broad a brush based on a history in which current leaders say they played no part.

Although he grew up in the region, County Judge Carbett “Trey” Duhon didn’t arrive in Waller County until 2005, when his family bought a 10-acre plot on the northern end of the county and he opened his law practice in the area.

Since taking the helm of the county in 2015, he’s come to realize how the county’s decisions today are tormented by its past. But he rejects the notion that there’s any overlap and argues county leadership has actually moved to expand access for students during his tenure.


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Two recent obituaries.

Darwin Ness

We frequently worshipped with Darwin Saturday evenings. Observing his drive, devotion and faith was humbling, to say the least.

David Villa

I met David – wearing a Santa tie – while we were marooned at O’hare. This occurred when United Airlines’ ORD – MSN flight performance was modeled after a random number generator (2008-2009).

Take your chances: canceled, on time or delayed. The odds grew against the paying traveler as day turned into evening.

Thus we stood at the gate, not at all surprised that our last flight of the day to Madison was cancelled.

We shared a rental car to Madison that evening, swapping family and business tales, including the recent big bank bailouts.

Our paths occasionally crossed and included lunch or tea conversations.

Life on earth is fleeting; our “time of grace”, for sure.

PS. After enduring endless ORD – MSN flight misadventures, I phoned Air Wisconsin’s VP – Operations.

I simply asked when they might stop with the random number generator? Laughing, he said that United determines where and when they fly. (Air Wisconsin continues to provide “regional jet” service to the large “mainline” airlines).