It's more like a co-op. The difference is that every participant has a voice. With the traditional public company - with few exceptions - decisions are made only by the board and the execs.
The owners aren’t providing labour. Votes are tied to shares—one person can have more than one vote. And the shares are acquired with capital. Closer to corporation than coöp.
If the DAO committed to turning the team over to its players or fans, and then fixed one vote one member, that would resemble a coöperative.
Totally agree. There is no reason a coöp couldn’t run on a blockchain.
This DAO is not that.
I was going to ask you about it but Wikipedia gave a sufficient explanation, so commenting for the benefit of other readers.
https://www.newyorker.com/culture/culture-desk/the-curse-of-...
In a public company, ownership and management are separated, for a good reason. You want to be able to own a company, without necessarily being involved in its management. Otherwise, you're severely limiting the number of companies people can invest in and preventing the owners from having other jobs, or you end up with a bunch of amateurs managing the company in their spare time.