memoscan

0x008c…a7e4

All memos sent from and to 0x008c…a7e4.
0x008c8442…a7e4sent to0x1d9619e1…0cc0·#19,078,543·0xb3677738…7f73fc
Not sure what this cause is about but 10 ETH for that Code is Speech NFT is a bargain. https://jbm.infura-ipfs.io/ipfs/QmcA9nwXrNm1QjZ6Reapzcm91xSjJfxAhZP7aopo5xF4iZ https://jbm.infura-ipfs.io/ipfs/Qmer2MT53PAjeQ6CjdUvXQvRFWsrK1PKam8xtkdoAjSrLc https://jbm.infura-ipfs.io/ipfs/QmPjCWuxP6JmE5Fru4ctNtZ7YnQxdjMVcKqVUuuvnYjjAX
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,843,617·0x0cd1e0b4…72d7a7
Love Joel but we're in outflows and this will not move us away from that. We should be patient and slow and allocate thoughtfully and much more selectively, rather than lose the plot on blowing the treasury and allocate capital loosely and ineffectively.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,822,650·0xc6eb4c77…3e1154
This has been excellent work by the team, but the spending is fat and expensive and cannot be sustained past 2024 absent Nouns DAO stopping being in outflow and getting to a point where Auctions are in the 15-20ETH range and ETH doubles in price. At that point this budget would be 10% of our inflows. As is, this is 10% of our treasury and we're still in outflows, with another fork looking likely (let's burn the treasury Nouns already and break the fork planning). The combination of all those events seems unlikely to me. Alternatively, Nouns.gg need to have 7 figure revenue from 0 today. All this work has been good, how can be it be set up not to be wasted? How can it set up to be sustainable? How can it deliver on its promise to the DAO to proliferate the meme in the long run, not just in 23 and 24 until we run low on funds? Need to see demonstration of actual traction wrt sustainability before funding.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,814,767·0x272a97cd…a33abd
Because the Proposal goes in a lot of directions, to be clear this is $250k to fund a greenfield urban farming project with team whose track record includes this: https://www.growertalks.com/Article/?articleid=22890 Which should be an important thing for voters to check out before voting as it outlines the challenges, even with 100x this funding, of operating this strategy in a way that sustains. It was a large warehouse growing business in Chicago run by one of this Proposal's team members. Separately there is no track record of the team doing this specific growing for this product for this end market, each of those buckets separately is challenged, and conjunctively much more so. Would want to see this proven out as having PMF (berries for food deserts), successful small scale execution, and ability to sell through produce into food deserts before funding $250k. Agriculture/farming is a competitive, risky and low margin business using regular farm land for a for profit, unless you have giga scale. For a non-profit using urban and urban adjacent land and novel farming techniques, the odds are likely even harder. Would start with 1/20th the amount, and check back in 6 months, but there's a lot of headwinds here for even getting success that level. Farming isn't easy for scale businesses and selling produce to the food insecure isn't easy either for scale businesses. I also don't understand just giving $25k to an unrelated non-profit? Is 10% market for a "finance partner"?
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,806,657·0xda5904be…99b605
$500k and a Noun for another governance client? This is not sustainable or money well spent. This is a basic app whose entire functionality is covered by Nouns.wtf and that is nice to have if the cost were cheap but is no way integral to Nouns governance nor is it adding long term network value. The cost for the work is also and it's impression is also way off. $500k is a material amount for a startup with which they'd expect to do things that drive value to their project or network. Camp is very basic and if that is all Nouns gets for allocating $500k in capital, we're not going to have any capital to allocate in the long term.
0x008c8442…a7e4sent to0xf790a5f5…1365·#18,788,206·0x6f3ac300…14d110
$500k and a Noun for another governance client? This is not sustaintable or money well spent. This is a basic app that is nice to have if the cost were cheap but is no way integral to Nouns governance nor is it adding long term network value.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,772,198·0xc8c0056f…d062af
Work to date has been excellent, love the team, but how do we justify 2 $500k full time heads on retainer and not doing that generate inflows? 5% of our treasury and we're in outflows
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,772,188·0x65ad0ee7…bdf4e6
$145k and a Noun for something that I think substracts value from the DAO (onchain DAO votes for someone to swap a Noun are inefficient in ETH and attention, it also is just picking off the treasury and reducing scarcity)
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,738,276·0x1221798e…bea4c3
Onchain DAO votes for someone to swap a Noun are inefficient in ETH and attention, it also is just picking off the treasury and reducing scarcity. I hope to never see such a Proposal again.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,738,273·0x648e42a2…a31d90
Onchain DAO votes for someone to swap a Noun are inefficient in ETH and attention, it also is just picking off the treasury and reducing scarcity. I hope to never see such a Proposal again.
0x008c8442…a7e4sent to0xf790a5f5…1365·#18,736,862·0x9e65d1f9…96991e
$145k and a Noun for something that I think substracts value from the DAO (onchain DAO votes for someone to swap a Noun are inefficient in ETH and attention, it also is just picking off the treasury and reducing scarcity)
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,736,506·0x2120c625…56f1c7
"The cost is unreasonable. 150k for training???? Also we're paying to buy a Coffee Shop for someone else's benefit, which is a terrible deal for the DAO, not sustainable and doesn't and can't scale. Would anyone do this with their own money -- just buy someone else a coffee shop with no strings or contract? Bad precedent and expensive, and the business itself is into a very fragile industry for independent operators -- setting aside all the preceding warts, the base rate of the industry is not our friend. This isn't Nounish.
0x008c8442…a7e4sent to0xf790a5f5…1365·#18,700,690·0x4a80a573…c8042a
a-nounish-coffee-shop--a-los-angeles-irl-to-url-nounish-experienceThe cost is unreasonable. 150k for training???? Also we're paying to buy a Coffee Shop for someone else's benefit, which is a terrible deal for the DAO, not sustainable and doesn't and can't scale. This isn't Nounish.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,672,420·0x859c436a…5bd5cc
Against giving out Nouns in general. For this, it's not strategic to give Nouns to people who already have political power, it's just rearranging deckchairs and/or doling out favors. What is added to the DAO by Gami having an extra vote and getting a bonus? Does this increase network value? Does it increase future auction values? This is someone who has and likely would again buy a Noun on his own. Giving him a Noun lowers that demand. If Nouns are to be distributed, it should be done strategically to increase the network value and break out of the echochamber. This is more of the same and gets us nowhere and too slowly to shock the arb and get to the actual clearing price for Nouns. Burn all the Nouns to 0x00 and stop navel grazing.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,650,588·0xf51be26f…99b4db
Thanks for this and this is an important focus. It requires attention to detail and this Proposal showed a lack of that in a few places. I'd encourage the team to sit down with Maty, discuss the relevant issues and find a way to build and incorporate his perspective and existing working and rejigger this Proposal accordingly.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,650,572·0x36bc7007…88ab9d
Thanks for this comprehensive Proposal. This is a $1.1 million dollar annual runrate in opex endeavor before a single dollar goes to actual artists. This a bad ratio of opex to artist spend and on an absolute level inappropriate for our treasury, given we're still in outflows sadly. After 8 months, we would not be in a position to ever fund this again so all this effort to spin it up (legal, community mgmt, many curators and consultants paid), it would just be wound down. For Nouns DAO to work, all of that effort, all of that curation and community mgmt and legal, anything like this: "Advisors Fees - $352k ($11000 per advisor / per month) Feedback and evaluation Communication and targeting Creative oversight" has to be internalized and subsidiszed by DAO and community members who are aligned and do it because they love Nouns and need to make it happen. $11k/per advisor per month is NFT bull market prices fwiw.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,621,306·0x98ff35ab…44e48d
That the Burn had consensus (even if it later lost it) and effectively pulled forward spending and, in conjunction with the terrible strategic mistake to lower RQ to 10%, accelerated the leaking of ETH out of the DAO by thousands of ETH or more and cost even more members of the community who looked at those decision and said "No mas." Because we were and are bullish ETH, it was another own goal to pull forward selling ETH before it ran up 30%. Time was on our side. It's not too late to let something that is a shared belief of Nouns DAO benefit the DAO. Slowing down and thinking long term on how to build a community and culture people positively want to pay to belong to remains crucial. Otherwise all of this is a waste of time and the treasury is a a medium term path to zero one way or another. Expected future return on capital invested ($ or social, perceived or real) must be > investment Why would someone pay to join this DAO right now and not just to arb it? Why would they pay to join the DAO in the future? Is the number they'd pay greater or lower than 4.20 ETH in your head? What's your number and why?
0x008c8442…a7e4sent to0xf790a5f5…1365·#18,577,816·0xdaeadd83…a5469a
nouns-esports-2024What will fund a $2mm budget in 2025? If this can't be answered, how does it make sense to spin up and sustain an org that presumes it's a going concern? Is there no revenue? It's mentioned twice, but never said what it is.
0x008c8442…a7e4sent to0xf790a5f5…1365·#18,564,702·0xd539ad5b…9e5176
This will force the arbers to buy those Lil Nouns Nouns or see their window shut and their position go underwater, good. Market clearing price likely lower than people expect though, there's no evidence of robust demand for Nouns DAO membership in the 30's, 20's or 10's so far.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,564,581·0x6a560518…00f06e
Lean into making this a cc0 brand that will be applicable and add value to other hoteliers/room sellers, and that they can add value to. Other NFt branded rooms and hotels haven't come out well, but make this about shared branding, something larger, something open. Talk to Nouns Deli and learn from them too. Good luck
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,559,294·0x1c2385fb…f2f9f0
Absolutely not. This is inappropriate for Nouns DAO, there's no reason to "bail out" any DAO to begin with, but it's its own sovereign entity that can decide by its own governance and processes how to proceed. But we should do the opposite and start pushing the RQ function up to 30% so that the arbing is more difficult and uncertain. They should RQ now if they want to sell their Nouns, the method they chose was not only a violation of their own governance and expectations around it (inappropriate use of the veto) that will leave a mark on their DAO and its claim of being "decentralized" but it also hurts Nouns DAO because 15 Nouns being on offer in the market gives any arber the control of when to create a fork and importantly when not to. She can now delay calling the fork and continue to "milk" the arb with little fear of the window closing because she can just instabuy enough Nouns to trigger it. So no, Lil Nouns shouldn't be bailed out.
0x008c8442…a7e4sent to0xf790a5f5…1365·#18,513,788·0xfec28e39…ccdadb
nouns-house-1---tokyo-jpnTougher than the Nouns Deli, but worth it to try. NFT branded hotels to date have been cringe, goal will be how to make this a cc0 decentralized brand that other hoteliers can join for free and get value from using (and add value to). Gotta make it have network value.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,494,023·0x793066df…98add5
Nounish consumer goods haven't fared well and without a bullet proof gotomarket and real convincing evidence the products will sell through, I'm a pass. We have a very small echochamber with a low marginal propensity to spend. Dozens of units is our TAM at the moment.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,456,862·0x358e08b2…8499ca
Using a small group to distribute who gets more futures votes will not bring in intellectual diversity or engaged members but will calcify the echochamber (until the ETH is gone). Burn the Nouns and move on.
0x008c8442…a7e4sent to0x6f3e6272…223d·#18,378,005·0xd93c5c9f…77c7d2
We don't need more places for people to update how their Proposal is going at a 120 ETH cost per year. The problem is not a lack of place for this but a lack of feeling compelled to update or be accountable for many Proposals. Making it normative that a proposer should be PAID extra to update their Proposals is not a good precedent to set, it's just I think misunderstanding both incentives and the actual problem of "What happened to past Proposals?" both
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