Part 14/19:
The conversation then turns to governance models, notably criticizing decentralized autonomous organizations (DAOs). They compare DAOs to democracy — prone to inefficiencies, low participation, and decision-making based on flawed voting processes. They argue that complex human decision-making cannot be reliably encoded or automated to the level demanded by financial or societal institutions. They recall personal experiences with influential figures like Roger Ver, acknowledging his contributions while criticizing perceived intellectual dishonesty.