This week DoorDash is a perfect example of what’s wrong with IPOs

DoorDash gave $0 to its restaurants, drivers or users.

meanwhile, Uniswap gave away $500,000,000+ to their users

How does crypto fix it? Thread

DoorDash network is operated by (and dependent on) 3 parties:
- restaurants
- delivery drivers
- consumers

all contributing to this success and deserving credits...

yet none of them got a single share.

Worse, the IPO process is “free money” captured by banks @bgurley https://twitter.com/julie188/status/1336803614342356993

It’s hard to give equity at scale, to billions of people + giving it frequently (high velocity)

Crypto fixes that: tokens are “software eats equity”.

This is what Uniswap did: they gave tokens to previous liquidity providers and Uniswap users.

It led to an outburst of user love towards Uniswap. It is the best growth hacking tool ever, net positive for the protocol.

Give someone a $5 DoorDash referral, and they’ll use it once.

Give someone 400 $UNI, and they will be incentivized to cheer Uniswap for their lifetime

Even outside of crypto protocols, @FairmintCO created a new “CAFE”, a new crypto equity standard to align users and founders the same way as founders/VC, bypassing banks and IPOs.

I’m excited to see what this new ownership economy entails!