To me, it doesn’t look like there are many DAOs that are effective

Have been going deep into DAOs lately, and it really just looks like a way to get crowd-sourced funding for a project, with voting rights determined by how many tokens of the DAO you hold (aka “buy-in”), and all of this is executed by a smart contract but still, there is a centralised decision maker who then needs to implement said decisions.

It’s really just like Crowdfunder but the people who donate money to the project’s initiatives (buying tokens) get a say in what happens next.

That’s pretty much the crux of it, isn’t it?

I haven’t seen a DAO represent itself in a convincing way yet. It’s basically “be part of this community” or “we are a managed fund that invests in web3 startups” but literally nothing is explained in concrete terms. Seems so vague as to be not taken seriously most of the time.

Anyone got any insights? The only few DAOs I’ve seen that look good are already run and backed by million-dollar businesses who hold most of the tokens and therefore voting rights, so doesn’t that actually skew more towards centralised decision making anyway? And anyone else chipping in tokens is just…donating funds?