“One of the points I’m trying to make in that essay is that, where there’s money to be made from intermediaries establishing themselves, intermediaries will appear. If there’s money to be made by controlling a DAO and the DeFi protocols it administers, then somebody will be in there making a majority of that money. And those will be the people who’ve been in the ecosystem from the beginning. That means those in the venture-capital firms. They’ll make a ton off this. To suggest that what I’m describing is democratizing the ability to control how our financial system works is totally disingenuous. Because we haven’t changed the underlying incentives of the financial system. We haven’t changed any of the structural or political issues…”
I learned a lot reading this interview and found it fascinating. I'm a complete Web3 and crypto skeptic and this interview points to a lot of the reasons why and explains them well.