[zanzibar735]

Can you talk about what permissionless innovation means and why it's possible with web3 (and why it's missing from the non web3 world)?

I'm a massive skeptic and I'd like to understand their perspective. Totally agree on all the downsides.

[SkyMarshal]

The best general example of the value of permissionless I can think of is when you compare the working environment in some corporation, vs the Silicon Valley startup ecosystem.

In the former there can be multiple layers of approvals needed to move forward with anything, and if your manager or their manager doesn’t immediately grok the value of some new idea, you can’t move forward with it. It can be a frustrating and draining environment.

It’s the main reason some of the best people in the world leave that environment and do a startup instead. They can move forward with building innovative new ideas with little or no corporate bureaucratic impediments. That’s where the energy and drive is.

MA and others are implying that cryptocurrencies provide a similar permissionless platform for rapidly experimenting with new financial products and services. And they’re not wrong, for better or worse.

[zanzibar735]

So it's "permissionless" in the regulatory sense? No pesky SEC breathing down their necks?

[SkyMarshal]

Well the SEC is definitely breathing down the necks of any org that sold secur… er, tokens, without properly registering with the SEC. But for the platforms that did that properly, building services on top of them is mostly permissionless.

[gitfan86]

In theory it is time consuming and expensive and full of legal issues if you try to operate a LLC with 200 owners with 20 different roles and rights between those 200 owners.

In theory if those roles and rights and shares of ownership were enforced as code and owned as private keys, the LLC would be much easier and cheaper to operate. And any anyone could buy in using crypto.

While it is true that today's best practices of corporate governance and regulations around corporate governance could be improved, It isn't clear why a Corporate Governance SaaS application would be unable to make those improvements unless the goal of your improvements is to circumvent laws and regulations.

[lowmagnet]

I just can't keep up with this stuff but I did see a thing about a DAO being taken over by a majority of its voting block belonging to one person: https://www.theblockcrypto.com/post/134180/build-finance-dao...

[zanzibar735]

I thought about this for a few minutes, and I think it might refer to how you need to go through an app store for iOS and Android apps, and that Facebook, Twitter, Instagram, etc, own so much of the web "property".