How DAOs Will Change Ecommerce, Investing, & Business w/ Garret Akerson

Hey Everybody. Welcome to capitalism.com. before we jump into today's episode, I want to give you a little bit of context for how we got to this conversation on the podcast. My guest today is Garrett Akerson. If you're not familiar with that name, you haven't been listening to the podcast for long enough. Garrett is one of our success stories. He started as a student following the road to 1 million plan release. 4 products, get them to 25 sales a day at a $30 price point, have a million dollar business. However, Garrett had a big old exit as a result of following that plan. It was a mid eight figure exit and now he's working on his next project. His next project is a decentralized autonomous organization. If you're not familiar with what we call daos, they are essentially organizations that are decentralized, they're built on blockchain, and they have distributed decision making power. If you're still listening, here's why that matters. I'm fascinated by this world and I'm wondering how this is going to affect business and E commerce over the next several years. How is crypto, how is blockchain? How are decentralized autonomous organizations going to affect our lives and businesses moving forward? And since one of my students followed the plan, had a big old exit, and is now building a dao, I wanted to hear about this project in particular. In this episode, it takes us a few minutes to warm up. If you stick with us, then you're going to hear nuggets about how daos are structured, what flexibility it gives entrepreneurs like you and me, and also some of the challenges that we're going to have to navigate as these types of structures become normal in our world. If you're an e commerce owner, if you're an entrepreneur, then you will benefit from hearing some of how this new type of business is going to affect all of our lives. And if you're listening to this and you're like, wait a minute, hold on, tell me more about the eight figure exit part. What about that million dollar business formula that Garrett followed a few years ago to become rich? That's what we specialize in teaching. And if you want to dive in about how that works, you can go to our free video series@capitalism.com perfect. You'll go through four free videos that will walk you through what I consider the perfect business model. How to choose your products, get them launched, and how to get four products to 25 sales a day at a $30 price point. That's capitalism.com perfect. It's the same plan that Garrett followed before he had his big exit. And now he's building a dao. That's what we'll talk about in this episode. I hope you enjoy this as much as I enjoyed recording it for you. Well, Garrett, good to see you, my friend.

Good to see you, Ryan.

We put your speech from one of our events on the podcast, but I think this is our official first interview. You've had a heck of a ride over the last several years with starting the business, selling the business, now doing some stuff with daos, and I want to hear all about the dao. But before we go into what you're doing right now, would you just share a little bit about the exit and the leading up to the exit because you started fresh in this space just like most of the audience. So tell us a little bit about it.

I did. Yeah. So Deanna and I, my wife, we launched kenner bravely in 2015 and we just sold a majority stake to private equity in to. Well, I guess it was coming up on a year, so April 2021. Yeah.

And I know you can't say the total amount, but it was an eight figure exit. Our favorite phrase, an eight figure exit.

High eight figure exit. So that was. It was good. It was a lot of hard work getting to that point.

And tell me a little bit about the lead up to that because I don't even remember how you found our work or got plugged in, but you started just where everybody else does.

I did. So yeah. I think I've said this to you before in private, but I mean, a lot of credit goes to you, Ryan.

I think one of the earliest introductions I got to the whole Amazon space, we launched on Amazon and Shopify at the same time, but we really just focused on Amazon that first year. And I heard your podcast back in 2014 or 15 on the zero to a million on the first brand you launched, and I was like, oh, no way. And started looking at like models at the. At the time a lot of people were doing like that drop ship and doing the like the relisting stuff. And I was like, no, that's not for me. I want to create a brand. Yes. But very much took kind of the Amazon selling machine model and just applied it to our space in apparel and clothing, which was great because ASM at the time was like, don't get into clothing and apparel. So I was like, that's great. I'm going to go get in that space because they're telling everyone else not to.

But you Were doing it in a specific brand space. Right. Is for pregnant women. So you were not selling T shirts and yoga pants.

Correct.

You were selling maternity clothes, which is a brand because you're starting with a specific person, which is the foundation of any brand. Is that correct?

Correct. Yeah. So I took all the learnings from. Well, I didn't go through asm. I think I might have started it. And then from your podcast and you and I, I don't know if we had talked a few times and I was part of the early.

Was it the tribe.

Yeah, that's right.

Which is now.

Which is now the capitalism incubator.

Yes. Yeah. So took all of those learnings and applied it to creating our own brand. But on Amazon is. Is where we launch primarily push sales. So it was. It's always been our own designs. It's not white labeled.

But it's still. I mean the model is very similar. You know, we're working with. Most of our factories are still in China.

Yeah. So you followed the model. It worked.

It worked.

And you're so non. And you're so nonchalant about it, like, yeah, no big deal. Yeah, we did it took a lot of hard work and we got there. So you sold the business a year ago. Had a nice high eight figure exit. Congratulations. In the last year since then, you've been doing some interesting things in the world of decentralized autonomous organizations. How the heck did you make this pivot from E Commerce into the Degen Web3 world?

I don't know if I'm a full degen yet, but I've been dipping my toes in that world a bit. Yeah. So still involved in the business? Not as much on the day to day. We hired a president in 2020, so even before we went to market and have a phenomenal team and I knew I wanted to do something more in the crypto space and in the climate space. Started exploring ideas, met a couple other individuals at a small conference and we decided launch a DAO to tackle climate change and do it with web 3.0 technology.

Tell me about this. You say launch a DAO for those who don't understand dao just sounds like it's just a weird term. Right. It's a decentralized organization. It sounds like funny money. So what's the thought process behind saying, hey, we want to make a a dent in climate change, let's start a dao. What's the thought process behind that?

Yeah, I will say so backing up. For those not familiar with daos, your audience probably is more than other audiences. But I think of daos as the future of companies, or at least certainly a future flavor. I don't think all companies will go there. Right. There's still a lot of regulation on decentralized.

Organizations and how they're going to be taxed or what legal entity they are. But.

For me, it was looking at the space and saying, well, there's a lot of one, there's a lot of activity in that space. So I would say, A, it's a market where you're seeing more and more activity. B, it's this new experiment. And I kind of wanted to just participate in that experiment to see what it's like running something that's decentralized. I would say, though, I think there's a lot of hype around web 3.0 and decentralization. I'm not totally convinced we'll get there or that it works. So that goes back to the experiment part. And that being said, also, once you take outside money, you already lose control. So I think one of the fears is, like, decentralized, you lose control. Well, the. If you, if you have an A round, B round, C round. Once you get to like a C and D round. We didn't raise money in our. Our prior company, but had I ran a tech startup, you'd already have lost control. So decentralized isn't that far from that.

I think crowdsourced capital rather than going to a venture capitalist firm. But before you keep going down this road, Garrett, I'm still curious about the thought process of, okay, it'd be interesting to run decentralized company, but why is that model, in your mind, an opportunity for you to create the change that you want? You want to go into the space of helping solve climate change. Why a DAO to do something like that?

Yeah. Okay, so a couple reasons. One.

That, okay, I think tailwinds in that community specifically on why a DAO are a. It's borderless and climate change is borderless as well. Already members in the dao, like some of the founding members.

One'S from Luxembourg, one's from Sri Lanka. And climate change is not something governments are going to tackle or corporations when you have quarterly earnings you're worried about. In that sense, a DAO makes sense. The model of crypto is we're borderless. We're going to go around governments and corporations and we'll just solve it ourselves.

That makes total sense to me. As the leader of capitalism.com, i am fully on board with this. But now, as like an organization, how does it benefit you or how do you leverage the opportunities that a DAO gives you to make a change in this space?

Yeah. So a building community. DAOs are all about building a community around a central project. And that part, we're just in the beginning stages of that now. Getting it up, getting it launched, building that community. There's already a very strong community obviously in the climate space, and then there's a very strong community in the crypto space. And they don't, you know, those Venn diagrams don't perfectly overlap, but there is some overlap. So I think this has the opportunity to pull more people in the climate who are interested in climate Change into Web 3.0 in the future, and also on the flip side, pull more people that are just into crypto and ignoring climate into that side.

So you say, hey, we want to get into this space, let's launch a dao. What is the purpose of the dao? What does the DAO exist to do?

DAO as it exists right now? The first proposal, the first thing it's going to DO is launch 20 satellites to measure Earth's radiation balance or imbalance.

I like projects that have a defined beginning, end goal, just much easier to, like, wrap your mind around. So, and I think one of the main challenges of like, climate, climate change is like, what can I do? Like, it's just so overwhelming and so large and, and then there's always the debate on how much is, you know, man made or not man made. So our first project is simply, hey, let's launch a small constellation of satellites, measure Earth's radiation balance, which is the amount of solar radiation we reflect back into the atmosphere versus trap. And that is a direct. That directly correlates to how much the planet is heating up and how quickly it heats up. And we. There's been a couple white papers that have calculated it, like in single points of time. The issue with calculating it is you need a constellation of satellites, at least 20, and you need that many because clouds play a huge factor in solar radiation. If there's cloud cover, you get more solar radiation. So you need satellites where they can take multiple readings around the planet, where there's not clouds.

So do you launch the dao, sell tokens, use the tokens to fund the launching of these satellites, and that becomes the initiative. Is that sort of the thought process behind this?

That's exactly it.

Okay, so you and your group of homies decide to do this. How do you go about getting enough interest.

For people to buy the tokens and Thus provide enough funding to go do this. Because launching 20 satellites into space is almost as absurd as just having an eight figure exit out of nowhere. So what'd you do here in order to get the word out?

So one, we're just starting in that space. So talking to influencers in the space. And I like to start small. I think it goes back. I don't know if it was.

Well, I'll back up. We. And in kinder, bravely, we use something called 90 day sprints. And the one thing from Gary Keller. And so we historically have divided 90 day sprints into two week increments. Right. And just give yourself something to do over two weeks. So for me, like my breakdown on this project is like, have 20 conversations, you know, in the first two weeks and really get to that core group. So first, my first goal, it's kind of like Amazon reviews, actually, now that I think about it. You know, you're like, I need to get to 25 reviews, not I need to get to 50 reviews.

Yes.

I think community building, it just starts with community building, which is conversations and getting people excited and interested in the project, and then from there bringing on a community leader, community manager, and really building it across Discord and Twitter. Those are the two main platforms we're using and building buzz about the project. We're talking with a couple different crypto whales we already have. One of the initial founders is a crypto whale. But some more. But I think a lot of it will be grassroots.

And is there value to someone buying your token? Meaning if I believe in your project.

And I buy the token, I know that I'm helping fund this initiative. What's the potential upside for someone else?

I can't say there's a potential upside.

I would say I can't say that one from FCC regulations and what they will do in the United States. Now, if you were international. Yeah. You could, you could promise returns on a token. We are going to issue a token. The token right now is just for voting rights. Do I think the token will accrue value or hope it will? Yes.

We have not locked down tokenomics yet and what that would look like. And then part of it is we're also looking at what else we can do in that space, whether it's via an NFT or multiple NFTs. These are real satellites. So we can even do things like naming rights to satellites where you can look through your telescope, see the name of the satellite.

So what I'm hearing you say, Garrett, is that you launched with a purpose based thesis that some people are buying into. But there is not a financial model behind this yet. And so what you've done, this is fascinating. I did not know this. This is fascinating. What you have done as a DAO is just created a vehicle for pooled resources that exist for a specific purpose that may or may not produce a return in the future. It may or may not have a financial model. Right now. It is a purpose driven project. Is that a fair summary?

Yeah, exactly. Perfect.

It's really cool.

Thanks.

Also, from. From a position of capitalism, I want like, it's kind of melting my brain because there needs to be some sort of incentive in order to draw in capital. But right now the buzz of the space is sort of the, the. The value. The community is the value. The voting rights are the value, but the finances are not necessarily the value.

In your case, since you've issued a token in order to fund this project, has there been volatility in the token that you've released and how is that driven?

Yeah, good question. Backing up a little bit. I think DAOs, when they launch currently they can go two routes. One, you can spend a lot of time figuring out tokenomics, how it's going to work and trying to, quote, promise a return whether you get the return or not. Right. Who knows? There's tons of, am I allowed to say shit coins out there?

Whatever you want to, Garrett.

And you know, there's plenty of meme coins too. The whole value there is just in, I don't know, the meme value of it, the network, the people interested in it.

Sure. And just to add a point to that, the reason why a project like Dogecoin or Shiba Inu goes so high is just because so many other people have bought it. I mean, it is a Ponzi scheme, fundamentally, but the backing of it is the community of people who will continue to back it, which is how currencies are driven. It is people's trust in other people trusting it. That is how all currencies are driven. I like to make fun of meme coins and those types of projects, but there is some value to it, at least temporarily, even if that value is just the crowdsourced trust of millions of other people. Please continue.

Agreed. And so I think DAO is similar. They can go that route where they try to figure out tokenomics, or they can just go the route of, hey, we have. This is a special use case, we want to fund this project, we think it's cool, let's do it. There may or may not be Future Value Constitution Dao would be a great example of that. Right? There was no promised return on that. It was just like, hey, let's go buy the US Constitution now.

Just so, just so we're on the same page. The Constitution Doubt was a group of individuals who decided to buy rights to the Constitution when they saw it up for sale. So, so a bunch of people pooled their money together to buy the Constitution. And I think what you got as, as, as, as a person who put money into this project is you got issued tokens in proportion to how much you put in and now you can sell those tokens. Is that a fair summary?

Yep, fair summary.

This is so interesting to me, Garrett. Like I'm having this realization for the first time as we're talking. It was a great example of the Constitution Dao where someone is putting their money into a purpose driven project. But as a result, now that person can trade some of their tokens based on how other people perceive the value of that project. So it almost makes the Constitution a collectible. I own a piece of the Constitution. I now have voting rights in this collective. And so the purpose of the project exists before the profits exist. There may not be any profits.

I don't know how you monetize the U.S. constitution and buying electricity. It's cool.

It is cool. So in your case is the exact same. You've pulled these resources, you've issued tokens. I think my original question was has there been volatility tokens? The value of that up to this point?

No, no volatility yet. Because we're just launching. So we're using the same Juice box is the protocol or the platform that Constitution Dell launched.

I don't know that term. Juice box juice.

So you can use a number of different platforms now or providers. They're like the picks and shovels of web 3.0 for building these and doing ERC20 tokens kind of managing all that. Juice Box was the same platform that Constitution Dao use is probably most prompt popular one.

So that is basically an interface for creating a token, is that correct?

Yeah.

So just side question. Can anyone create a token like they would create a WordPress site?

Anyone can. Yeah. Yeah, you go to Juice Box and create one right now.

The, the amazing possibilities of what is going to come out of this.

Any project you want, you can launch on Juice Box and like five hours.

All right, so I want to ask you some questions about that in a second. But, but finish your thought. You're just launching this dow. So there has.

Yes, there can't be any volatility because you can lock up any constant, any contributions. The coin does not get issued until you hit your funding goal. So same for, same for Constitution. Now, until they hit their funding goal, no coin is issued.

It's just it basically it lets the project juice box just holds the project funds until you meet the desired goal. It's just, it's like old school fundraising. Right? You have this goal, you can see the meter. Once you hit the goal, then you can issue the token. You can change the voting rights and all kinds of things within Juicebox for that token.

Okay, so, Garrett, when you release your token, you will then be marketing it like a project, right? This is what we're doing. You're going on podcasts like the one we're on right now for people to go find it and buy the tokens on the. Basically the secondary market. Right. And that is where the liquidity will be created. Is that all correct?

Correct. Once the project launches and, well, once you hit your funding goal, the project launches, then they're liquid, People can buy, sell, trade. Yep.

Okay, so if. So, what can you say what your funding goal is?

28 million.

$28 million. So you say we're launching this DAO to put 20 satellites into space to measure radiation on the earth and you have to raise $28 million. You're going on podcasts like these to talk about the project. People come in and buy the Dow. As soon as you raise the 28 million, are you then closed? Do you not raise any more capital at that point? Do you then take the money and initiate the project? What happens at that point?

At that point?

Well, one of two things could happen. We could set a second funding goal for a future project. Okay, we could oversubscribe. So Constitution Dow oversubscribed. I think they were trying to raise 20. They ended up raising like 40 plus. Right. 42. So you can oversubscribe on the first project and then.

At funding, then the initial project is launch those 20 satellites. So a little over 20 million is going to go out to launch the satellites. We start getting the data back then. Then I think that's where the community part kicks in. The community can decide, hey, do we want to license this data to, you know, institutions, to governments we've talked about? We really want to bring like phase two climate data on chain and be the oracle of climate data. So Oracles are a big deal in that space now, Oracle being like, you're the single source of truth, right? From off chain to on chain data. So That's a project easily, something we could easily tackle. And then that, I think, is when you would really start accruing value to the DAO holders.

Okay, so once you've raised your 28 million, if there's demand for other people to buy this token, that will send the price up. Right. Just by marketplace rules, does the project itself benefit when there is an increase in the value of the token, or is that just the reward to those who believed in the project, or both.

So you're going to get rewards as an early token holder if the value goes up. Sure. And then the DAO has its own Treasury. So part of that 28 million is a Treasury where the DAO holds it so that value will go up. And then it can also the DAO itself could use those funds, its own treasury, to accomplish future projects.

So if the project holds back some of those tokens and the value goes up, it could release more of those tokens and accrue more liquidity, Is that correct? Okay.

Yeah. And there is some reserve liquidity in there as well, in that 28 million.

That makes sense. So if we were to clean this up or simplify this, we're basically just looking at equity splits.

Right. Where.

But in a case of a Dow, oftentimes the majority of the project is now owned by investors from the very beginning. So you are essentially doing a raise of capital at a certain valuation. It's just completely crowdsourced because it's a DAO and all those individuals have voting rights. Am I summarizing this proper?

Yeah. And that's one of the beauties of the DAO. Now, to your point, Ryan, there's plenty of DAOs and plenty of coins right where there's huge VC money in them right now. I don't think the public is always aware of that. Now they're going to be like, half of the reserve is for the VCs. This is not the case here. But yes, that was a great.

Summary.

I have so many questions, but I'm also just fascinated by what you're doing. So, as somebody who comes from E commerce now in this world, I'm curious what your perspective is on how you see this structure impacting business over the next 10 years. Do you see daos infiltrating E commerce and other traditional types of businesses, or do you see this being more for new projects moving forward?

Yeah, that's a great question.

I don't know. I'm sure someone would do it. There's got to be some novel use cases, some new ones.

Yeah.

So I have several brands in my network that are great brands with great products that just didn't work out for whatever reason. I know several people who own these assets and they just didn't work out. I have been considering just as an experiment, starting a DAO for distressed brands and saying these brands didn't work. So we're going to turn it over to the community and just see what happens.

And so what you do is you would, then you'd issue the coin which raises capital to turn around the projects. There's your capital problem. Now you have the ability to invest into the growth of the projects. You now have a PR problem solved because you have all of this noise about what happens in the space. All these very interesting e commerce entrepreneurs are saying, I'm going to back this just because I want to see what happens.

Yep.

But you also solve a talent problem because all of the people who have bought into the project are now freelance employees. They're people who are networking on behalf of the success of the project.

Yeah.

And so I have been just as an experiment saying, thinking I wonder if we could do a distressed brands Dao just to, just as an experiment in the E commerce space and see what happens.

You could. Sounds like it. That would be a fun experiment.

Okay. Can you poke any holes in this plan?

Yeah, I think one, Equity doesn't always mean buying and participation. Right. I think we as founders have some found that all too true. You give equity to someone and it doesn't mean they're more motivated. Yeah. So I'm not convinced that giving someone DAO shares will make them participate more. I think if you've hopped any, in any discords or joined any DAOs, there's, there's certainly, I don't know that the percentage has changed that much. There's a certain percentage that are just more involved and more passionate about the project. There's plenty that are just like, oh, this is cool. One time thing, don't participate much. So I think that's one, I think two because it's decentralized. You never know what kind of ideas you are going to get and are they actually good ones.

And so there's that. And.

I don't know if I'm just, I, I feel old in this space. I actually have a sticky note right here that is be the dumbest person in the room for the next five years. And I don't know if I'm just feeling old or not, but I feel like companies need CEOs to drive direction and vision. And you certainly still need that in a dao. How you accomplish that, whether it's a smaller cohort or a few stronger voices.

I'm not sure. There's different DAO models. But if it's totally decentralized and everybody gets to vote, there's nothing saying that the best choice, the vision you might have for it, is going to be the one that gets voted to move forward.

Now that's a good point that you bring up of who's really in control in the structure of a dao, because there are benefits to having centralized decision making. So if you have a CEO who is in place over a pool of distressed brands.

Can you structure the project so that person still has final say? Or in a DAO structure, does the community run? Does the community rule all?

There's a lot of different DAOs out there, so I think they're all across the spectrum. Some, the core community just puts forward initiatives or ideas for the DAO to vote on, thereby controlling what ideas get moved forward, but then also having some DAO participation.

So I think that's one route. There's some that are just full on decentralized and the community just can vote on anything. There's others where the community can put them forward.

But they have to get X number of votes to get moved up.

What might happen here is you have a CEO and a centralized team. The community and the owners can.

Propose ideas that everybody else would vote on, and then the centralized team can decide whether or not to initiate them or not. But if they are not initiating what the community and the owners want, you might see liquidation. You might see people selling. So that balances. You could still have full control. But if the community and the investors aren't getting what they want, then you'll see a rush to the exits. So there is kind of a balance there. Just like you had seen the stock market. You're kind of selling me on reconsidering this idea if I can fit it on my plate right now, Garrett.

So, I mean, I think, you know, that's. That is the other cool thing about Defi and and daos is you can just vote with your dollars immediately. Like if Dow holders are like, I hate these proposals, I'm out. You can liquidate faster than you can in the stock market.

If there are buyers. Correct.

If there are buyers.

So tell me about that. Do you have any fears over lack of liquidity in the DAO that you're launching?

You know, I have not gotten that far. I. I guess it's not something I've worried About to date.

In that I'm very concrete in like, let's get the first project launched, then let's move to the second project, then, you know, we'll see. Liquidity wouldn't be an issue on project one because you have that funding goal. All the funds are locked until you hit that funding goal. Then it's going to fund the first project and it's going to distribute points to stakeholders.

Is there any concern over what happens if you don't hit your funding goal?

Yeah, there is.

Nobody likes to fail me. Me included.

But what would happen with those funds just then get returned?

Yeah, just like Constitution Dao, you can. You can return people's funds quite easily through juice box.

Okay, so that's not that big of a risk. You fail at an initiative and then you dust yourself off and do something else.

Yeah, exactly.

And it's all learning. I mean, I'm convinced that this is where the future's at. So this is where I'm going to spend my time.

I'm with you, Garrett. And this is why I was so fascinated to have the conversation with you is I was resistant to this world for years because it scares the crap out of me. You know, all my previous skills are no longer valuable because it's a completely new world. And so I know I'm not going to beat them. So I might as well understand the world and bring my talents and gifts to this world. So where. What do you see this evolving into this space and how it impacts business? Do you have a thesis on where this might go?

Man, great questions, Ryan. I don't know that I have a thesis.

Solidified on where I think it's going to go.

Part of me is still a skeptic, to be honest. If I look at the amount of VC funds going into this space and knowing VCs and the kind of returns they expect.

I think it's more liquid than our current system. I think it is more participatory and I think there is more upside from a capitalism standpoint. However, I still think the line shares of gains are going to go to current whales there or VCs because they're going to lock up. If it's a token, they're going to.

Have.

Pre token price and a launch price. They're still going to make their returns. So I think I'm a little skeptical on that side on it being like totally. Everybody's on an equal playing field. It's not an equal playing field.

I think that it will.

Yeah, we'll see. It's There's a lot of experiments, but I think it will continue to adapt and I think that big corporations and VCs will figure out how to continue to make money out of it. That being said, the spread is much smaller in DeFi, so I think it benefits end users, benefits participants more. I'm not convinced it benefits them as much as the crypto community likes to believe.

I understand. Garrett, how does someone as a manager of the project like you or a CEO of the project, how do they get paid? Do you have to work it into the protocol of what salaries are? What does that look like?

You don't have to work it into the protocol as far as it being part of your tokenomics or anything. What you have in any DAO is you will have a set aside. So if you look at like nouns dao, every tenth one goes back to the founders, right? I think it's every tenth might be fewer.

In this case of the initial pool.

Raise, 15% stays with the DAO to provide funding for either the second phase or marketing or hiring as such. So any dao and I would if to listeners if they're investing in DAOs, obviously look at the dao and how much is being held for founders or.

Participants. They vary a lot. Some reward participants based on how active they are in the community. Right. You can get extra rewards that way. But quite a few of the daos, particularly in the NFT space, you can easily see 50% held aside or held back for founders.

And when you say they're held back, that's held back for salaries, it's held back for distributions, it's held back for the use of like the discretionary use of the founders, is that right?

Correct. Initial investors, founders and then the rest.

Of it is the working capital.

Correct.

This is a fascinating world.

This is a fascinating.

Now how would someone, in your case, how would they buy the token? How they even find the token to buy it? Because just getting on ramped into defi can be a challenge all on its own. So how does someone buy your token?

Yeah, you can find us climateactiondao XYZ.

And there's a contribute button right there. Follow us on Twitter. Join us on Discord.

There's a contribute button. What does that mean? Does that mean someone is buying via their Metamask wallet?

It'll take you right to Juicebox. So you could also go to Juicebox that I mentioned earlier, Juicebox money. And then our project is on there Climate Action Dao. It's easier to get to that via the Climate ActionDao XYZ. But the contribute button there, or buy button, essentially takes you right to Juicebox.

So what would that essentially open my Metamask wallet and have me buy that token directly?

Correct. It will have you contribute. Eth. The token only gets issued when the project hits its funding goal or everyone gets refunded. Yeah, yeah.

This is absolutely fascinating.

I know I'm beating this point to death, but I just want to make sure I understand this. Just talking about daos in general, anyone can start a DAO about anything. And so using a tool like Juicebox, you can issue the token, create your thesis, market it, and get people to buy it, and then you're in business to use the capital however you see as best. Yeah, I didn't realize it was this simple.

It's crazy simple.

It can be more complex, but at its core, daos get spun up on just Twitter conversations, then launched.

They don't have to be complex. And the tools out there actually make it quite easy.

Now, already.

Can I tell you a story that will get me in trouble because we're recording?

Yeah.

So the.

Last last year, I did a. I hired someone to facilitate a guided psychedelic therapy session for me, and I was really stuck. Like, my brain would not let go of this problem of one of my brands that has failed.

And I just kept ruminating over this failure, this failure. And I finally asked the question, what would I do if I had no interest in what I got out of it, but what I could create for other people? And immediately I had the idea of knowing nothing about daos, of starting a dao as a community project to see what would happen around a brand that hadn't worked, that you then crowdsourced, essentially. And I've been waiting for, like, yeah, but how is that even possible? Like, are there tools? I don't know anything about this space. And this is the first time that you're showing me that there are tools available to do something like this. And so I'm going to have to sit on this for just a minute. For just a minute.

I love it. Ryan.

That'S great.

I think I might need a cigarette after this conversation. Is there anything that I haven't asked you that I should have?

Man, I think we covered it. We dove right in. It's been fun.

Congratulations on your success, my friend. I'm excited for the launch of this. We will be following along Climate actiondao xyz. Keep on changing the world, my friend. Great to see you.

Thanks, friend. Yeah, thanks for having me.

And now a quick Word from Jared, one of our members in the 1%.

I was bankrupt and crippled to making a million dollars in a year. And then I grew that business and kept growing it. So like my whole world changed financially very quickly. It was amazing how fast it was able to transition and like turn once things got rolling. Ryan and capitalism.com pretty much taught me everything I knew about E commerce and a specific specifically branding was the biggest thing that I think capitalism really does well and they focus on teaching their students about building a brand and just teaching business to people. Like everything he teaches is stuff that he's done. You know, it's not like from theory that you're gonna learn. So it's like all stuff that he's done. So I think the biggest thing that capitalism.com helps you with is that you're getting to learn from somebody who's done the exact thing that you want to do which is the most important thing in the world. Like that's how you fast track your results. So if you want like the fast lane and to get your results really quickly, you go to capitalism.com and you have them show you what to do so you don't make all the mistakes and you get there really quickly. And it was the best money I ever spent because I went from bankrupt and crippled and all this other stuff to a million dollar a year business in one year, which is exactly what he teaches. And I was like, holy crap, this stuff works. So I was a, it was a very healthy exit and was able to let me focus on many other things in my life and not have to worry about that stuff anymore.

If you found value in this podcast and you're ready to go Deeper, here are three resources where we can help you. One, you can grab my book 12 months to 1 million on Audible or Amazon. It has over a thousand reviews and it's the playbook to building a seven figure business. Second, you can join our community of entrepreneurs who are following a plan to build a 1% net worth by building businesses and investing the profits you can get plugged in@capitalism.com 1. And third, if you're looking to go deeper and build a seven figure business that you can sell, you can work closely with us inside the capitalism incubator and you can get on the waiting list and find out what we do over@capitalism.com Inc. That's capitalism.com income.