The “D” in DAO doesn’t stand for democracy, says Upstream CEO Alexander Taub

Ever since a group of chronically-online crypto enthusiasts tried to buy a copy of the U.S. Constitution in a high-profile bidding war, DAOs (decentralized autonomous organizations) have been at the forefront of discussion in the web3 world. How are they different from companies, you ask? DAOs have been lauded for their ability to give everyone in a community a voice by involving them in decision-making and recording those decisions in a transparent, immutable manner on the blockchain. But the utopian vision some people have for DAOs seems far off from the reality today.
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