Too Long; Didn't Read
A DAO is a business that makes its members the Board of Directors. They decide not to elect a few people to make decisions for the whole company, but to let everyone in the business have a vote on big business decisions. Benefit Corporations challenge the idea of shareholder primacy, then DAOs are a basic challenge to the idea. The votes and decisions are tracked and carried out through the smart contracts on the blockchain. Wyoming has proposed legislation to incorporate DAOs as a working statute so companies can incorporate issues in their LLC.