This podcast episode explores the challenges and evolution of DAOs (Decentralized Autonomous Organisations), with a focus on the MakerDAO ecosystem. It discusses the initial promise and subsequent disillusionment with DAOs, and the concept of alignment engineering as a method for fostering Constructive participation. The episode then examines the planned rebranding of MakerDAO and the introduction of new governance mechanisms, including subDAOs and AI tools. It also explores the broader implications of regulation in the DeFi space and the vision for the future of MakerDAO, emphasizing the importance of strong rules and AI tools to ensure the stability and fairness of the system.