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Kain Warwick Says Anthropic Tried to ‘Invent a DAO’ With Its Founder Voting Bloc
On Uneasy Money, the Infinex and Synthetix founder argued that the seven co-founders' pooled 50.1% vote in Anthropic's IPO filing is an untested design that crypto governance has seen fail.
Dextape brief
Crypto builders commenting on Anthropic's planned public listing said its governance plan resembles a DAO. Kain Warwick, founder of Infinex and Synthetix, made the remarks on the October 28 episode of the Uneasy Money show, calling the setup problematic as a governance experiment for a company that could be worth several trillion dollars. According to the company's S-1 filed with the SEC on October 26, a single Class F share held by a Founder LLC, owned at the outset by seven co-founders including Dario and Daniela Amodei, carries 50.1% of voting power without economic rights. Warwick said the concern is pooling founder votes in one place that needs coordination. The filing says that if the founders stop voting together, the share is generally voted in proportion to Class A votes, and the Long-Term Benefit Trust fills most board seats.
Why it matters: The structure concentrates voting control among a small founder group at a company expected to go public, drawing skeptical comments from people experienced with DAO governance.
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Terms in this story
- Governance
- The process for deciding changes to a protocol and its settings, whether through token-holder votes, a foundation or core developers.
- DAO
- Decentralized autonomous organization: a group that manages a treasury or protocol through on-chain votes, usually weighted by token holdings.
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