More on Personal Growth

Suzie Glassman
3 years ago
How I Stay Fit Despite Eating Fast Food and Drinking Alcohol
Here's me. Perfectionism is unnecessary.
This post isn't for people who gag at the prospect of eating french fries. I've been ridiculed for stating you can lose weight eating carbs and six-pack abs aren't good.
My family eats frozen processed meals and quick food most weeks (sometimes more). Clean eaters may think I'm unqualified to give fitness advice. I get it.
Hear me out, though. I’m a 44-year-old raising two busy kids with a weekly-traveling husband. Tutoring, dance, and guitar classes fill weeknights. I'm also juggling my job and freelancing.
I'm as worried and tired as my clients. I wish I ate only kale smoothies and salads. I can’t. Despite my mistakes, I'm fit. I won't promise you something just because it worked for me. But here’s a look at how I manage.
What I largely get right about eating
I have a flexible diet and track my daily intake. I count protein, fat, and carbs. Only on vacation or exceptional occasions do I not track.
My protein goal is 1 g per lb. I consume a lot of chicken breasts, eggs, turkey, and lean ground beef. I also occasionally drink protein shakes.
I eat 220–240 grams of carbs daily. My carb count depends on training volume and goals. I'm trying to lose weight slowly. If I want to lose weight faster, I cut carbs to 150-180.
My carbs include white rice, Daves Killer Bread, fruit, pasta, and veggies. I don't eat enough vegetables, so I take Athletic Greens. Also, V8.
Fat grams over 50 help me control my hormones. Recently, I've reached 70-80 grams. Cooking with olive oil. I eat daily dark chocolate. Eggs, butter, milk, and cheese contribute to the rest.
Those frozen meals? What can I say? Stouffer’s lasagna is sometimes needed. I order the healthiest fast food I can find (although I can never bring myself to order the salad). That's a chicken sandwich or a kid's hamburger. I rarely order fries. I eat slowly and savor each bite to feel full.
Potato chips and sugary cereals are in the pantry, but I'm not tempted. My kids eat them because I'd rather teach them moderation than total avoidance. If I eat them, I only eat one portion.
If you're not hungry and eating enough protein and fat, you won't want to eat everything in sight.
I drink once or twice a week. As a result, I rarely overdo it.
Food tracking is tedious and frustrating for many. Taking breaks and using estimates when eating out help. Not perfect, but realistic.
I practice a prolonged fast to enhance metabolic adaptability
Metabolic flexibility is the ability to switch between fuel sources (fat and carbs) based on activity intensity and time since eating. At rest or during low to moderate exertion, your body burns fat. Your body burns carbs after eating and during intense exercise.
Our metabolic flexibility can be hampered by lack of exercise, overeating, and stress. Our bodies become lousy fat burners, making weight loss difficult.
Once a week, I skip dinner (usually around 24 hours). Long-term fasting teaches my body to burn fat. It provides me one low-calorie day a week (I break the fast with a normal-sized dinner).
Fasting day helps me maintain my weight on weekends, when I typically overeat and drink.
Try an extended fast slowly. Delay breakfast by two hours. Next week, add two hours, etc. It takes practice to go that long without biting off your arm. I also suggest consulting your doctor.
I stay active.
I've always been active. As a child, I danced many nights a week, was on the high school dance team, and ran marathons in my 20s.
Often, I feel driven by an internal engine. Working from home makes it easy to exercise. If that’s not you, I get it. Everyone can benefit from raising their baseline.
After taking the kids to school, I walk two miles around the neighborhood. When I need to think, I switch off podcasts. First thing in the morning, I go for a walk.
I lift weights Monday, Wednesday, and Friday. 45 minutes is typical. I run 45-90 minutes on Tuesday and Thursday. I'm slow but reliable. On Saturdays and Sundays, I walk and add a short spin class if I'm not too tired.
I almost never forgo sleep.
I rarely stay up past 10 p.m., much to my night-owl husband's dismay. My 7-8-hour nights help me recover from workouts and handle stress. Without it, I'm grumpy.
I suppose sleep duration matters more than bedtime. Some people just can't fall asleep early. Internal clock and genetics determine sleep and wake hours.
Prioritize sleep.
Last thoughts
Fitness and diet advice is often useless. Some of the advice is inaccurate, dangerous, or difficult to follow if you have a life. I want to throw a shoe at my screen when I see headlines promising to speed up my metabolism or help me lose fat.
I studied exercise physiology for years. No shortcuts exist. No medications or cleanses reset metabolism. I play the hand I'm dealt. I realize that just because something works for me, it won't for you.
If I wanted 15% body fat and ripped abs, I'd have to be stricter. I occasionally think I’d like to get there. But then I remember I’m happy with my life. I like fast food and beer. Pizza and margaritas are favorites (not every day).
You can get it mostly right and live a healthy life.
Matthew Royse
3 years ago
7 ways to improve public speaking
How to overcome public speaking fear and give a killer presentation
"Public speaking is people's biggest fear, according to studies. Death's second. The average person is better off in the casket than delivering the eulogy." — American comedian, actor, writer, and producer Jerry Seinfeld
People fear public speaking, according to research. Public speaking can be intimidating.
Most professions require public speaking, whether to 5, 50, 500, or 5,000 people. Your career will require many presentations. In a small meeting, company update, or industry conference.
You can improve your public speaking skills. You can reduce your anxiety, improve your performance, and feel more comfortable speaking in public.
“If I returned to college, I'd focus on writing and public speaking. Effective communication is everything.” — 38th president Gerald R. Ford
You can deliver a great presentation despite your fear of public speaking. There are ways to stay calm while speaking and become a more effective public speaker.
Seven tips to improve your public speaking today. Let's help you overcome your fear (no pun intended).
Know your audience.
"You're not being judged; the audience is." — Entrepreneur, author, and speaker Seth Godin
Understand your audience before speaking publicly. Before preparing a presentation, know your audience. Learn what they care about and find useful.
Your presentation may depend on where you're speaking. A classroom is different from a company meeting.
Determine your audience before developing your main messages. Learn everything about them. Knowing your audience helps you choose the right words, information (thought leadership vs. technical), and motivational message.
2. Be Observant
Observe others' speeches to improve your own. Watching free TED Talks on education, business, science, technology, and creativity can teach you a lot about public speaking.
What worked and what didn't?
What would you change?
Their strengths
How interesting or dull was the topic?
Note their techniques to learn more. Studying the best public speakers will amaze you.
Learn how their stage presence helped them communicate and captivated their audience. Please note their pauses, humor, and pacing.
3. Practice
"A speaker should prepare based on what he wants to learn, not say." — Author, speaker, and pastor Tod Stocker
Practice makes perfect when it comes to public speaking. By repeating your presentation, you can find your comfort zone.
When you've practiced your presentation many times, you'll feel natural and confident giving it. Preparation helps overcome fear and anxiety. Review notes and important messages.
When you know the material well, you can explain it better. Your presentation preparation starts before you go on stage.
Keep a notebook or journal of ideas, quotes, and examples. More content means better audience-targeting.
4. Self-record
Videotape your speeches. Check yourself. Body language, hands, pacing, and vocabulary should be reviewed.
Best public speakers evaluate their performance to improve.
Write down what you did best, what you could improve and what you should stop doing after watching a recording of yourself. Seeing yourself can be unsettling. This is how you improve.
5. Remove text from slides
"Humans can't read and comprehend screen text while listening to a speaker. Therefore, lots of text and long, complete sentences are bad, bad, bad.” —Communications expert Garr Reynolds
Presentation slides shouldn't have too much text. 100-slide presentations bore the audience. Your slides should preview what you'll say to the audience.
Use slides to emphasize your main point visually.
If you add text, use at least 40-point font. Your slides shouldn't require squinting to read. You want people to watch you, not your slides.
6. Body language
"Body language is powerful." We had body language before speech, and 80% of a conversation is read through the body, not the words." — Dancer, writer, and broadcaster Deborah Bull
Nonverbal communication dominates. Our bodies speak louder than words. Don't fidget, rock, lean, or pace.
Relax your body to communicate clearly and without distraction through nonverbal cues. Public speaking anxiety can cause tense body language.
Maintain posture and eye contact. Don’t put your hand in your pockets, cross your arms, or stare at your notes. Make purposeful hand gestures that match what you're saying.
7. Beginning/ending Strong
Beginning and end are memorable. Your presentation must start strong and end strongly. To engage your audience, don't sound robotic.
Begin with a story, stat, or quote. Conclude with a summary of key points. Focus on how you will start and end your speech.
You should memorize your presentation's opening and closing. Memorize something naturally. Excellent presentations start and end strong because people won't remember the middle.
Bringing It All Together
Seven simple yet powerful ways to improve public speaking. Know your audience, study others, prepare and rehearse, record yourself, remove as much text as possible from slides, and start and end strong.
Follow these tips to improve your speaking and audience communication. Prepare, practice, and learn from great speakers to reduce your fear of public speaking.
"Speaking to one person or a thousand is public speaking." — Vocal coach Roger Love

Darius Foroux
2 years ago
My financial life was changed by a single, straightforward mental model.
Prioritize big-ticket purchases
I've made several spending blunders. I get sick thinking about how much money I spent.
My financial mental model was poor back then.
Stoicism and mindfulness keep me from attaching to those feelings. It still hurts.
Until four or five years ago, I bought a new winter jacket every year.
Ten years ago, I spent twice as much. Now that I have a fantastic, warm winter parka, I don't even consider acquiring another one. No more spending. I'm not looking for jackets either.
Saving time and money by spending well is my thinking paradigm.
The philosophy is expressed in most languages. Cheap is expensive in the Netherlands. This applies beyond shopping.
In this essay, I will offer three examples of how this mental paradigm transformed my financial life.
Publishing books
In 2015, I presented and positioned my first book poorly.
I called the book Huge Life Success and made a funny Canva cover in 30 minutes. This:
That looks nothing like my present books. No logo or style. The book felt amateurish.
The book started bothering me a few weeks after publication. The advice was good, but it didn't appear professional. I studied the book business extensively.
I created a style for all my designs. Branding. Win Your Inner Wars was reissued a year later.
Title, cover, and description changed. Rearranging the chapters improved readability.
Seven years later, the book sells hundreds of copies a month. That taught me a lot.
Rushing to finish a project is enticing. Send it and move forward.
Avoid rushing everything. Relax. Develop your projects. Perform well. Perform the job well.
My first novel was underfunded and underworked. A bad book arrived. I then invested time and money in writing the greatest book I could.
That book still sells.
Traveling
I hate travel. Airports, flights, trains, and lines irritate me.
But, I enjoy traveling to beautiful areas.
I do it strangely. I make up travel rules. I never go to airports in summer. I hate being near airports on holidays. Unworthy.
No vacation packages for me. Those airline packages with a flight, shuttle, and hotel. I've had enough.
I try to avoid crowds and popular spots. July Paris? Nuts and bolts, please. Christmas in NYC? No, please keep me sane.
I fly business class behind. I accept upgrades upon check-in. I prefer driving. I drove from the Netherlands to southern Spain.
Thankfully, no lines. What if travel costs more? Thus? I enjoy it from the start. I start traveling then.
I rarely travel since I'm so difficult. One great excursion beats several average ones.
Personal effectiveness
New apps, tools, and strategies intrigue most productivity professionals.
No.
I researched years ago. I spent years investigating productivity in university.
I bought books, courses, applications, and tools. It was expensive and time-consuming.
Im finished. Productivity no longer costs me time or money. OK. I worked on it once and now follow my strategy.
I avoid new programs and systems. My stuff works. Why change winners?
Spending wisely saves time and money.
Spending wisely means spending once. Many people ignore productivity. It's understudied. No classes.
Some assume reading a few articles or a book is enough. Productivity is personal. You need a personal system.
Time invested is one-time. You can trust your system for life once you find it.
Concentrate on the expensive choices.
Life's short. Saving money quickly is enticing.
Spend less on groceries today. True. That won't fix your finances.
Adopt a lifestyle that makes you affluent over time. Consider major choices.
Are they causing long-term poverty? Are you richer?
Leasing cars comes to mind. The automobile costs a fortune today. The premium could accomplish a million nice things.
Focusing on important decisions makes life easier. Consider your future. You want to improve next year.
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The Secret Developer
3 years ago
What Elon Musk's Take on Bitcoin Teaches Us
Tesla Q2 earnings revealed unethical dealings.
As of end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency
That’s OK then, isn’t it?
Elon Musk, Tesla's CEO, is now untrustworthy.
It’s not about infidelity, it’s about doing the right thing
And what can we learn?
The Opening Remark
Musk tweets on his (and Tesla's) future goals.
Don’t worry, I’m not expecting you to read it.
What's crucial?
Tesla will not be selling any Bitcoin
The Situation as It Develops
2021 Tesla spent $1.5 billion on Bitcoin. In 2022, they sold 75% of the ownership for $946 million.
That’s a little bit of a waste of money, right?
Musk predicted the reverse would happen.
What gives? Why would someone say one thing, then do the polar opposite?
The Justification For Change
Tesla's public. They must follow regulations. When a corporation trades, they must record what happens.
At least this keeps Musk some way in line.
We now understand Musk and Tesla's actions.
Musk claimed that Tesla sold bitcoins to maximize cash given the unpredictability of COVID lockdowns in China.
Tesla may buy Bitcoin in the future, he said.
That’s fine then. He’s not knocking the NFT at least.
Tesla has moved investments into cash due to China lockdowns.
That doesn’t explain the 180° though
Musk's Tweet isn't company policy. Therefore, the CEO's change of heart reflects the organization. Look.
That's okay, since
Leaders alter their positions when circumstances change.
Leaders must adapt to their surroundings. This isn't embarrassing; it's a leadership prerequisite.
Yet
The Man
Someone stated if you're not in the office full-time, you need to explain yourself. He doesn't treat his employees like adults.
This is the individual mentioned in the quote.
If Elon was not happy, you knew it. Things could get nasty
also, He fired his helper for requesting a raise.
This public persona isn't good. Without mentioning his disastrous performances on Twitter (pedo dude) or Joe Rogan. This image sums up the odd Podcast appearance:
Which describes the man.
I wouldn’t trust this guy to feed a cat
What we can discover
When Musk's company bet on Bitcoin, what happened?
Exactly what we would expect
The company's position altered without the CEO's awareness. He seems uncaring.
This article is about how something happened, not what happened. Change of thinking requires contrition.
This situation is about a lack of respect- although you might argue that followers on Twitter don’t deserve any
Tesla fans call the sale a great move.
It's absurd.
As you were, then.
Conclusion
Good luck if you gamble.
When they pay off, congrats!
When wrong, admit it.
You must take chances if you want to succeed.
Risks don't always pay off.
Mr. Musk lacks insight and charisma to combine these two attributes.
I don’t like him, if you hadn’t figured.
It’s probably all of the cheating.

Vivek Singh
3 years ago
A Warm Welcome to Web3 and the Future of the Internet
Let's take a look back at the internet's history and see where we're going — and why.
Tim Berners Lee had a problem. He was at CERN, the world's largest particle physics factory, at the time. The institute's stated goal was to study the simplest particles with the most sophisticated scientific instruments. The institute completed the LEP Tunnel in 1988, a 27 kilometer ring. This was Europe's largest civil engineering project (to study smaller particles — electrons).
The problem Tim Berners Lee found was information loss, not particle physics. CERN employed a thousand people in 1989. Due to team size and complexity, people often struggled to recall past project information. While these obstacles could be overcome, high turnover was nearly impossible. Berners Lee addressed the issue in a proposal titled ‘Information Management'.
When a typical stay is two years, data is constantly lost. The introduction of new people takes a lot of time from them and others before they understand what is going on. An emergency situation may require a detective investigation to recover technical details of past projects. Often, the data is recorded but cannot be found. — Information Management: A Proposal
He had an idea. Create an information management system that allowed users to access data in a decentralized manner using a new technology called ‘hypertext'.
To quote Berners Lee, his proposal was “vague but exciting...”. The paper eventually evolved into the internet we know today. Here are three popular W3C standards used by billions of people today:
(credit: CERN)
HTML (Hypertext Markup)
A web formatting language.
URI (Unique Resource Identifier)
Each web resource has its own “address”. Known as ‘a URL'.
HTTP (Hypertext Transfer Protocol)
Retrieves linked resources from across the web.
These technologies underpin all computer work. They were the seeds of our quest to reorganize information, a task as fruitful as particle physics.
Tim Berners-Lee would probably think the three decades from 1989 to 2018 were eventful. He'd be amazed by the billions, the inspiring, the novel. Unlocking innovation at CERN through ‘Information Management'.
The fictional character would probably need a drink, walk, and a few deep breaths to fully grasp the internet's impact. He'd be surprised to see a few big names in the mix.
Then he'd say, "Something's wrong here."
We should review the web's history before going there. Was it a success after Berners Lee made it public? Web1 and Web2: What is it about what we are doing now that so many believe we need a new one, web3?
Per Outlier Ventures' Jamie Burke:
Web 1.0 was read-only.
Web 2.0 was the writable
Web 3.0 is a direct-write web.
Let's explore.
Web1: The Read-Only Web
Web1 was the digital age. We put our books, research, and lives ‘online'. The web made information retrieval easier than any filing cabinet ever. Massive amounts of data were stored online. Encyclopedias, medical records, and entire libraries were put away into floppy disks and hard drives.
In 2015, the web had around 305,500,000,000 pages of content (280 million copies of Atlas Shrugged).
Initially, one didn't expect to contribute much to this database. Web1 was an online version of the real world, but not yet a new way of using the invention.
One gets the impression that the web has been underutilized by historians if all we can say about it is that it has become a giant global fax machine. — Daniel Cohen, The Web's Second Decade (2004)
That doesn't mean developers weren't building. The web was being advanced by great minds. Web2 was born as technology advanced.
Web2: Read-Write Web
Remember when you clicked something on a website and the whole page refreshed? Is it too early to call the mid-2000s ‘the good old days'?
Browsers improved gradually, then suddenly. AJAX calls augmented CGI scripts, and applications began sending data back and forth without disrupting the entire web page. One button to ‘digg' a post (see below). Web experiences blossomed.
In 2006, Digg was the most active ‘Web 2.0' site. (Photo: Ethereum Foundation Taylor Gerring)
Interaction was the focus of new applications. Posting, upvoting, hearting, pinning, tweeting, liking, commenting, and clapping became a lexicon of their own. It exploded in 2004. Easy ways to ‘write' on the internet grew, and continue to grow.
Facebook became a Web2 icon, where users created trillions of rows of data. Google and Amazon moved from Web1 to Web2 by better understanding users and building products and services that met their needs.
Business models based on Software-as-a-Service and then managing consumer data within them for a fee have exploded.
Web2 Emerging Issues
Unbelievably, an intriguing dilemma arose. When creating this read-write web, a non-trivial question skirted underneath the covers. Who owns it all?
You have no control over [Web 2] online SaaS. People didn't realize this because SaaS was so new. People have realized this is the real issue in recent years.
Even if these organizations have good intentions, their incentive is not on the users' side.
“You are not their customer, therefore you are their product,” they say. With Laura Shin, Vitalik Buterin, Unchained
A good plot line emerges. Many amazing, world-changing software products quietly lost users' data control.
For example: Facebook owns much of your social graph data. Even if you hate Facebook, you can't leave without giving up that data. There is no ‘export' or ‘exit'. The platform owns ownership.
While many companies can pull data on you, you cannot do so.
On the surface, this isn't an issue. These companies use my data better than I do! A complex group of stakeholders, each with their own goals. One is maximizing shareholder value for public companies. Tim Berners-Lee (and others) dislike the incentives created.
“Show me the incentive and I will show you the outcome.” — Berkshire Hathaway's CEO
It's easy to see what the read-write web has allowed in retrospect. We've been given the keys to create content instead of just consume it. On Facebook and Twitter, anyone with a laptop and internet can participate. But the engagement isn't ours. Platforms own themselves.
Web3: The ‘Unmediated’ Read-Write Web
Tim Berners Lee proposed a decade ago that ‘linked data' could solve the internet's data problem.
However, until recently, the same principles that allowed the Web of documents to thrive were not applied to data...
The Web of Data also allows for new domain-specific applications. Unlike Web 2.0 mashups, Linked Data applications work with an unbound global data space. As new data sources appear on the Web, they can provide more complete answers.
At around the same time as linked data research began, Satoshi Nakamoto created Bitcoin. After ten years, it appears that Berners Lee's ideas ‘link' spiritually with cryptocurrencies.
What should Web 3 do?
Here are some quick predictions for the web's future.
Users' data:
Users own information and provide it to corporations, businesses, or services that will benefit them.
Defying censorship:
No government, company, or institution should control your access to information (1, 2, 3)
Connect users and platforms:
Create symbiotic rather than competitive relationships between users and platform creators.
Open networks:
“First, the cryptonetwork-participant contract is enforced in open source code. Their voices and exits are used to keep them in check.” Dixon, Chris (4)
Global interactivity:
Transacting value, information, or assets with anyone with internet access, anywhere, at low cost
Self-determination:
Giving you the ability to own, see, and understand your entire digital identity.
Not pull, push:
‘Push' your data to trusted sources instead of ‘pulling' it from others.
Where Does This Leave Us?
Change incentives, change the world. Nick Babalola
People believe web3 can help build a better, fairer system. This is not the same as equal pay or outcomes, but more equal opportunity.
It should be noted that some of these advantages have been discussed previously. Will the changes work? Will they make a difference? These unanswered questions are technical, economic, political, and philosophical. Unintended consequences are likely.
We hope Web3 is a more democratic web. And we think incentives help the user. If there’s one thing that’s on our side, it’s that open has always beaten closed, given a long enough timescale.
We are at the start.

Henrique Centieiro
3 years ago
DAO 101: Everything you need to know
Maybe you'll work for a DAO next! Over $1 Billion in NFTs in the Flamingo DAO Another DAO tried to buy the NFL team Denver Broncos. The UkraineDAO raised over $7 Million for Ukraine. The PleasrDAO paid $4m for a Wu-Tang Clan album that belonged to the “pharma bro.”
DAOs move billions and employ thousands. So learn what a DAO is, how it works, and how to create one!
DAO? So, what? Why is it better?
A Decentralized Autonomous Organization (DAO). Some people like to also refer to it as Digital Autonomous Organization, but I prefer the former.
They are virtual organizations. In the real world, you have organizations or companies right? These firms have shareholders and a board. Usually, anyone with authority makes decisions. It could be the CEO, the Board, or the HIPPO. If you own stock in that company, you may also be able to influence decisions. It's now possible to do something similar but much better and more equitable in the cryptocurrency world.
This article informs you:
DAOs- What are the most common DAOs, their advantages and disadvantages over traditional companies? What are they if any?
Is a DAO legally recognized?
How secure is a DAO?
I’m ready whenever you are!
A DAO is a type of company that is operated by smart contracts on the blockchain. Smart contracts are computer code that self-executes our commands. Those contracts can be any. Most second-generation blockchains support smart contracts. Examples are Ethereum, Solana, Polygon, Binance Smart Chain, EOS, etc. I think I've gone off topic. Back on track. Now let's go!
Unlike traditional corporations, DAOs are governed by smart contracts. Unlike traditional company governance, DAO governance is fully transparent and auditable. That's one of the things that sets it apart. The clarity!
A DAO, like a traditional company, has one major difference. In other words, it is decentralized. DAOs are more ‘democratic' than traditional companies because anyone can vote on decisions. Anyone! In a DAO, we (you and I) make the decisions, not the top-shots. We are the CEO and investors. A DAO gives its community members power. We get to decide.
As long as you are a stakeholder, i.e. own a portion of the DAO tokens, you can participate in the DAO. Tokens are open to all. It's just a matter of exchanging it. Ownership of DAO tokens entitles you to exclusive benefits such as governance, voting, and so on. You can vote for a move, a plan, or the DAO's next investment. You can even pitch for funding. Any ‘big' decision in a DAO requires a vote from all stakeholders. In this case, ‘token-holders'! In other words, they function like stock.
What are the 5 DAO types?
Different DAOs exist. We will categorize decentralized autonomous organizations based on their mode of operation, structure, and even technology. Here are a few. You've probably heard of them:
1. DeFi DAO
These DAOs offer DeFi (decentralized financial) services via smart contract protocols. They use tokens to vote protocol and financial changes. Uniswap, Aave, Maker DAO, and Olympus DAO are some examples. Most DAOs manage billions.
Maker DAO was one of the first protocols ever created. It is a decentralized organization on the Ethereum blockchain that allows cryptocurrency lending and borrowing without a middleman.
Maker DAO issues DAI, a stable coin. DAI is a top-rated USD-pegged stable coin.
Maker DAO has an MKR token. These token holders are in charge of adjusting the Dai stable coin policy. Simply put, MKR tokens represent DAO “shares”.
2. Investment DAO
Investors pool their funds and make investment decisions. Investing in new businesses or art is one example. Investment DAOs help DeFi operations pool capital. The Meta Cartel DAO is a community of people who want to invest in new projects built on the Ethereum blockchain. Instead of investing one by one, they want to pool their resources and share ideas on how to make better financial decisions.
Other investment DAOs include the LAO and Friends with Benefits.
3. DAO Grant/Launchpad
In a grant DAO, community members contribute funds to a grant pool and vote on how to allocate and distribute them. These DAOs fund new DeFi projects. Those in need only need to apply. The Moloch DAO is a great Grant DAO. The tokens are used to allocate capital. Also see Gitcoin and Seedify.
4. DAO Collector
I debated whether to put it under ‘Investment DAO' or leave it alone. It's a subset of investment DAOs. This group buys non-fungible tokens, artwork, and collectibles. The market for NFTs has recently exploded, and it's time to investigate. The Pleasr DAO is a collector DAO. One copy of Wu-Tang Clan's "Once Upon a Time in Shaolin" cost the Pleasr DAO $4 million. Pleasr DAO is known for buying Doge meme NFT. Collector DAOs include the Flamingo, Mutant Cats DAO, and Constitution DAOs. Don't underestimate their websites' "childish" style. They have millions.
5. Social DAO
These are social networking and interaction platforms. For example, Decentraland DAO and Friends With Benefits DAO.
What are the DAO Benefits?
Here are some of the benefits of a decentralized autonomous organization:
- They are trustless. You don’t need to trust a CEO or management team
- It can’t be shut down unless a majority of the token holders agree. The government can't shut - It down because it isn't centralized.
- It's fully democratic
- It is open-source and fully transparent.
What about DAO drawbacks?
We've been saying DAOs are the bomb? But are they really the shit? What could go wrong with DAO?
DAOs may contain bugs. If they are hacked, the results can be catastrophic.
No trade secrets exist. Because the smart contract is transparent and coded on the blockchain, it can be copied. It may be used by another organization without credit. Maybe DAOs should use Secret, Oasis, or Horizen blockchain networks.
Are DAOs legally recognized??
In most counties, DAO regulation is inexistent. It's unclear. Most DAOs don’t have a legal personality. The Howey Test and the Securities Act of 1933 determine whether DAO tokens are securities. Although most countries follow the US, this is only considered for the US. Wyoming became the first state to recognize DAOs as legal entities in July 2021 after passing a DAO bill. DAOs registered in Wyoming are thus legally recognized as business entities in the US and thus receive the same legal protections as a Limited Liability Company.
In terms of cyber-security, how secure is a DAO?
Blockchains are secure. However, smart contracts may have security flaws or bugs. This can be avoided by third-party smart contract reviews, testing, and auditing
Finally, Decentralized Autonomous Organizations are timeless. Let us examine the current situation: Ukraine's invasion. A DAO was formed to help Ukrainian troops fighting the Russians. It was named Ukraine DAO. Pleasr DAO, NFT studio Trippy Labs, and Russian art collective Pussy Riot organized this fundraiser. Coindesk reports that over $3 million has been raised in Ethereum-based tokens. AidForUkraine, a DAO aimed at supporting Ukraine's defense efforts, has launched. Accepting Solana token donations. They are fully transparent, uncensorable, and can’t be shut down or sanctioned.
DAOs are undeniably the future of blockchain. Everyone is paying attention. Personally, I believe traditional companies will soon have to choose between adapting or being left behind.
Long version of this post: https://medium.datadriveninvestor.com/dao-101-all-you-need-to-know-about-daos-275060016663
