19: Krause House on DAO’s, Dreaming Big & WAGBAT // Commodore
Background:
Commodore is the Co-Founder of Krause House, which is a community of basketball enthusiasts and fanatics that aims to buy an NBA team someday. Krause House is a Decentralized Autonomous Organization (DAO) governed by a community of fans, basketball lovers, and purists. Together, they will write the consensus rules that will bring the first fan-governed team to the NBA. The collective of ambitious contributors whose goal is to own an NBA team describes the underlying mission of DAOs in its purest form: Difficult by one, achievable by many. Krause House will allow their members to participate in decisions affecting the operating procedures of a National Basketball Association (NBA) team including but not limited to general management, ticketing, merchandising, and partnerships.
Time-Stamped Show Notes:
- 3:13 Commodore explains what Krause House is all about.
- 5:07 There have already been serious conversations and meetings with league officials to buy and own an NBA team.
- 8:20 Commodore agrees to the idea that Web 3 allows people to own and govern.
- 10:14 More discussion about Web 3 and ownership.
- 12:22 The case of Ben Thompson of Stratechery can be a blueprint for Web 3 and ownership, according to Commodore.
- 13:32 The name Krause House was inspired by the general manager of the Chicago Bulls, Jerry Krause.
- 15:37 Commodore talks about the structure and mechanism of Krause House.
- 18:43 Krause House is currently in the process of being a Panama foundation. Commodore shares his view on why they chose Panama.
- 21:14 As a child, Commodore thought he was going to play in the NBA. He shares the story of his early years, his journey into entrepreneurship and startups, and how he started Krause House.
- 25:46 Commodore shares the early road map of Krause House, which focuses more on building their community.
- 29:34 When starting a DAO or any startup project, there are two paths that one can take. Commodore offers his own insight on community first and product first approach to building a DAO.
- 34:02 Commodore points out the importance of pitching your idea to different groups of people.
- 37:11 This coming June, Krause House has an event during NFT.NYC.
- 40:24 Krause House had a 100% yes vote in favor of a project, which is quite unique and surprising for Commodore.
- 45:01 Commodore believes that a DAO will own a minor part of an NBA team in the next 6 to 12 months. In the next 5 to 10 years, there will be an NBA team that will be majority owned by a DAO.
- 49:10 The accelerator that Commodore started aims to help anyone buy a team through a DAO. Commodore fully explains his own accelerator and how it works.
- 53:36 Commodore discusses the challenges that DAOs are facing today.
Key Points from the Interview:
- “There’s a 14-year-old out in India who is the biggest NBA fan, an incredible analytic savant, understands how to be the world’s greatest GM, and the path for that person to have a voice in any NBA organization right now is incredibly difficult, incredibly low odds, incredibly challenging. And I think one of my dreams is that we build systems, mechanisms, games, processes, in order for that person to have a large share of the voice without putting up $2 billion. Maybe they put up $100 and they earn their way to having a large voice in that organization.”
- “I think, talking out the idea and pitching different groups of people the idea when it’s even before you even bring it out to the internet, is really important.”
