Some comments from reddit ...
Could be right. But there is a big difference. Bitshares had no interesting projects to invest in. But if you want to invest in e.g. slock.it, the only way is to buy TheDAO shares.
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Sorry but BitShares failed because BitShares sucked and no one heard or cared about it and the fact that they got little voting shows that their BitShares platform had few if any passionate backers. Pretty sure Ethereum and the DAO have a good-sized community of passionate backers.
And regardless of a couple outlying naysayers here, Slock's proposal will easily be the first proposal funded by The DAO.
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Bitshares never took off because Dan kept writing articles and not coding enough. That's why I left Bitshares. Not enough code being written, while Dash and ETH where both hard at work.
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I think he is wrong in several points.
"Lets assume it is approved with the minimum 20%. The DAO will receive reward shares in the funded project and those shares will be divided equally among all participants. The non-voters will get the rewards and can then split their funds. The voters on the other hand will be unable to split. They take 100% of the risk and only get 20% of the reward, where as the non-voters get 80% of the reward and minimal risk."
non-voters can not split, you have to split before the voting as i understand. why should non-voters get 80% of the reward? if you have tokens during the voting it does not matter if you voted yes, no or did not participate.
"Regardless of which way it is actually implemented, there are more benefits to be gained by not-voting and splitting your ETH out of The DAO than by voting and keeping your ETH in The DAO."
what are more benefits? you only get your remainig Ether back and the Reward Tokens for already funded Projects get dilluted over time. By voting and keeping your ETH in the DAO i see more benefits. Speculative future Rewards and the rising intrinsic Value of the DAO Tokens.
"People give money to a VC firm because they trust the management of the firm and accept reduced profits because the VC firm is adding value. The DAO is just a committee of non-professional voters who have relatively little ability to do proper due diligence."
thats the reason i don't give money to a VC Firm and i see the Benefit of the DAO that i don't have to trust and pay a CEO and that i am in control of my funds.
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No. Next caller, please?
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Bitshares was the right idea but at the wrong time. Crypto has matured now and I think most people invested in the DAO because that is the only way to get into Slock.it
Slock.it is an interesting venture that is for certain. Is it worth $100 million dollars?
Maybe, maybe not. The small slice of non-equity incentives being offered to the DAO is another question as well.
Slock.it will fail in the longterm on their current trajectory from what I can tell. Seems like a company that's being built to be bought.
The smart lock was an obvious a PR stunt to raise funding.
Their tech can be replicated by any competent hardware/software team.
They are essentially a me-too consulting firm for Ethereum integration for big-brand IoT.