Wu said that a16z Crypto General Partner Ali Yahya stated that in the previous crypto era, DAOs (Decentralized Autonomous Organizations) were undoubtedly a failed experiment, but this may just be due to "bad timing." Ali Yahya admitted that over the past 10 years, the industry has painfully rediscovered that "direct democracy is a bad idea" because no ordinary users are willing to wake up early to decide risk parameters or protocol upgrades. He emphasized that with the changing regulatory environment, the industry will regain the legal space for experimentation, allowing exploration of representative democracy, bicameral systems, or hybrid architectures of permissioned and permissionless systems; at the same time, AI agents can fill many management duties that humans are unwilling to perform, thereby truly moving DAOs toward "autonomy." The new generation of DAOs, as software, will have an unlimited design space.