Wired reports that machines have yet to beat the human mind — at least when it comes to venture capital. The Decentralized Autonomous Organization (DAO), which is a network of technology that operates much on the same principle as bitcoin, has been a bust, so far.
Put money to work with the VC firm, and the number-crunching will point you toward what to buy. “The more money you put in, the more votes you get,” said Wired.
There was a deadline to invest in DAO, and when it hit last month, more than 10,000 people had ponied up as much as $168 million to this (supposedly) more creative, intelligent and novel approach to investing. Thus, DAO stands as the largest crowdfunding that has yet to set sail.
Wired said all the pitches that have come in have centered on how to change DAO.
Some observers have said that the crowdfunding accounts for a significant scale of business for any new firm. Focus has been on security flaws and what must be done to fix them.
Under the voting and model parameters, there has been some feuding as open source has become the standard, and yet, the approval there has yet to be worked out in anyone’s favor, meaning that the community at large must track and approve changes.
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