In this talk we will see what a DAO is, what its not and face some hard truths about DAOs and how they are used today. Does a DAO stand for Discord Administered Organization? Is a DAO just a discord chat and a multisig? Is a DAO a way for your company to have 2 cap tables, one for your and your investors and one for your community? Are DAOs a face for a Cayman Islands foundation which uses decentralization theater to shift liability? Are DAOs a way to sidestep regulations? Let's find out!