a16z crypto Policy Chief: Crypto Industry Should Move Beyond Foundation Era Toward Corporate Structure

CoinNetwork · 2026-03-16T04:23:36+00:00

a16z crypto's policy chief Miles Jennings has pointed out that the foundation model is no longer suitable for the crypto industry, recommending a shift toward standard developer companies to enhance incentives, growth, and impact. He argues that foundations limit capital deployment, talent attraction, and market responsiveness, and proposes achieving alignment through benefit corporations and other mechanisms, suggesting the adoption of structures like DUNA and BORG to strengthen DAOs' legal capabilities and governance.

CoinNetwork

2026-03-16 04:23:36

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CoinWorld News reports that Miles Jennings, Policy Director at a16z Crypto, stated that the foundation model is no longer suitable for the development of the crypto industry. He recommends shifting towards Developer Companies to achieve better incentive alignment, growth, and influence. He explained that foundations were once a temporary solution for regulatory challenges, but they have now become a source of friction; foundations struggle to efficiently deploy capital, attract top talent, respond to market feedback, and cannot engage in commercial activities. Founders do not need to abandon network development; company structures can be aligned through PBCs (Public Benefit Corporations), revenue sharing, milestone attribution, contractual protections, and programmatic incentives. DUNA (Decentralized Unincorporated Nonprofit Association) and BORG (Cybernetic Organization) can enable DAOs to have legal entity status and on-chain governance, eliminating the centralization issues associated with foundations.

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