Financial flash mobs meet fundraising memes – TechCrunch

Hello and welcome to Equity, a startup business podcast where we break down the numbers and nuances behind the headlines.

This is our Wednesday episode where we focus on a single topic, seeking to broaden our understanding of one particular tech trend or another. And this week, everything revolved around the ConstitutionDAO.

For those who weren’t online last week, here’s what you missed: A group of not-so-subtle strangers on the internet have come together to try and buy one of the remaining thirteen copies for the constitution. With crypto. The bold offer ultimately failed, but many saw it as an inspiration Find out how communities can rally around a common goal in a Web3 world. The whole movement, from its meme start to its poetic and billionaire Ken Griffin-themed end, was just too interesting for Equity not to devote an entire episode to it.

So, Natasha and Alexis introduced the Lucas Matney and Anita ramaswamy to unpack, decompress and create links around our common experience of witnessing this “financial flash mob”.

We talked about what a DAO is and what it could be used for. We dug into the question of how many people the effort actually brought to the larger “Web3” space. And, of course, we had to talk about gasoline costs, NFTs, and the pace of innovation in crypto in general. Lucas even made a great analogy to explain level two chains!

The crew were generally optimistic about the blockchain economy, although they were skeptical of some of its current uses. In short, the potential remains powerful in crypto even if some of its projects, today at least, are a little more boring than revolutionary. Crypto, we are told, will shake the world. More of that, we think, and less Memes Wars wouldn’t hurt.

Equity goes down Mondays at 7:00 a.m. PST, Wednesdays and Fridays at 6:00 a.m. PST, so subscribe to us on Apple podcasts, Covered, Spotify and all the casts.

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