Big Tech on steroids: why the 2020s will be the “decade of the DAO”

Big tech companies have transformed the way we live our lives. But if you thought they were disruptive, you haven’t seen anything yet. As Dominic Frisby explains, we’re about to enter the age of the “decentralised autonomous organisation”, or DAO.

Cryptocurrency tokens
DAOs exist on distributed blockchain networks, with their own currencies, outside fiat economies.
(Image credit: © Chesnot/Getty Images)

When it comes to taxes, the tech giants – Amazon, Google, Facebook and Apple et al – have for over a decade now made Western governments look like fools. Heck, even Starbucks has. Their globalised business models, with IP here, trademarks there, profits somewhere else, have meant that they can pretty much pay as little or as much tax as they see fit, and there is not a lot governments have been able to do about it.

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Dominic Frisby

Dominic Frisby (“mercurially witty” – the Spectator) is as far as we know the world’s only financial writer and comedian. He is the author of the popular newsletter the Flying Frisby and is MoneyWeek’s main commentator on gold, commodities, currencies and cryptocurrencies. He has also taken several of his shows to the Edinburgh Festival Fringe.

His books are Daylight Robbery - How Tax Changed our Past and Will Shape our Future; Bitcoin: the Future of Money? and Life After the State - Why We Don't Need Government

Dominic was educated at St Paul's School, Manchester University and the Webber-Douglas Academy Of Dramatic Art. You can follow him on X @dominicfrisby