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The evolution of #DeSci could solve some of the worlds biggest problems...but could also cause some of it's biggest losses! ( The PIPE gDAO podcast : Episode 3)
20 Plays14 days ago
The #DeSci hashtag and the general momentum behind it is growing and is expected to blossom through Q4 2024 and into 2025, which companies like ours should be excited about. However, many of the #DeSci protocols and DAOs I have seen, if not all, are failing to treat this new way of working with the correct levels of skepticism and due diligence...let us explain.
This podcast covers a blog post written by Robert Steele (Founder and CEO of the PIPE company) on linkedin
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Transcript
00:00:00
Speaker
Welcome to episode 3 of Pipe GTL. Yeah, Noodle, have you seen the movie Man of Steel? I have. I remember watching that quite a while ago, yeah. And guess what? Our last blog about was written by a man of steel, the Noodle himself. And this blog is also ah written by a man of steel. Would you like to know who that is?
00:00:21
Speaker
Yes, it's Robert James Steele with an E at the end. And that's already two steels that are, that I have written a blog and I have yet to write mine. I know, you need to hurry up man, honestly. Yeah, I need to quick hurry up and to learn how to write in English. I hope I can learn this. And so I can write as good as a steel noodle. As the steels.
00:00:47
Speaker
steel noodle, not a wet noodle, but a steel noodle. A steel noodle, a strong hearty noodle. Yeah, it's probably also inevitable, which is the whole point of the noodle, but short. And that today we're talking about the article, not on our blog, but actually on LinkedIn. You can find this in our socials. It's the evolution of hashtag desai, or deski, but it's actually pronounced desai, I installed.
00:01:12
Speaker
The evolution of Desai could solve some of the world's biggest problems, but could also cause some of them its biggest losses. And first of all, we have to establish what is Desai, because, excuse me, what Desai is, I gotta respect grammar. I know that a British would be quite upset if I didn't actually look correct myself. I would be i would be absolutely furious, would you? ah Yeah, that's that's how it feels like.
00:01:41
Speaker
Come on, i know you want me I know you want to correct me.
00:01:46
Speaker
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00:02:34
Speaker
So Desai is one of the industries that we are in. Of course, there is refi that we talked about last time. But as a little reminder, it talks about regenerative finance, just like there are farms ah that could produce um results from mistreating the animals. There are also regenerative farms that are in harmony with nature. And that's how similarly the same logic applies to refi. Now we're talking about Desai, which is decentralized science.
00:03:02
Speaker
When talking about Desai, it cannot be removed from the company called Molecule because they essentially coined this. And there are many Desai popular projects that came out of it, such as there's Hair Dao, there is Cryo Dao, there is Bio Dao, or well by was Bio Dao incubation? But the either way, there are quite a few of them, including my title of the Dao, Athena Dao, and a few more. I could remember if you could give me some time.
00:03:28
Speaker
And that that is Desai, but our approach is different from how Desai normally works because it is operate it operates the way molecule operates, as in they would incubate a program. And if it gets enough funding, then it becomes its own separate entity and goes to fund itself later on ah themselves. They get completely separated. It's like a bird pushing out its ah it's a chick.
00:03:58
Speaker
so that the chip could become independent. Fly or die, I guess. Quite literally. And yeah, so that is essentially a quick introduction into Desai. We do things our own way. We don't actually incubate individual projects, but that's a bit for later. So it reads. Yes, I'm reading a blog this time. Imagine. It will be my first to red blog.
00:04:25
Speaker
yeah That's a hu reference reference for a previous episode. You can go and watch it. I said that my aspiration is to someday read a blog, and today it's finally happening. I'm actually... I know. it's ah's it's a It's a very big day, very big day for us. Yeah, thank you. Thank you. I appreciate having all of you with me on this important day. The Desai hashtag and the general momentum behind this growing is expected to blossom through Q4 2024. Spoiler alert, that is now.
00:04:53
Speaker
and into 2025. That companies, just like ours, should be excited about. I'm sure that ah all of the Decide protocols that have been here for like a few years by now, there is also, if you want to know more about Decide, there is Decide London, there is Decide Berlin, and even though it's in Berlin, Germany, it is actually in English, so you can watch it. And one of the reasons why we do stuff differently is that because we believe that not everyone is capable exactly of having an adequate level of skepticism and due diligence in order to actually pick those design projects. Exactly. Unless you've spent significant time around research universities or anything sort of associated with technology of these universities that they're creating. Imagine being a nerd. Exactly. Imagine being, I was about to say, a loser, but that's literally what we do.
00:05:46
Speaker
But again, yeah, imagine if you've spent all your time around these universities, either as like maybe an investor or commercialization expert, you will be, you know, forgiven for assuming that the quality of the university is always high. However, there's a sort of a growing idea around ah academic research.
00:06:06
Speaker
that's either outright fraudulent or even fake, with one in five, that being 20% of papers being cited as science scam, and 34%. Well, you mean that sometimes those guys with glasses are wrong?
00:06:19
Speaker
Sometimes they are wrong. Sometimes they are incorrect. I know. 35% of those 1 in 5, so 35, no, sorry, 34% of 20%, if that makes sense, are neuroscience papers and 25% are medical papers being faked and slash all plagiarized.
00:06:42
Speaker
No way. I know. that yeah That's shocking. um Could you imagine plagiarizing a university project? I would never do that. Yeah, we know a thing or two about AI and chat GPT type of ah from ah problems when writing our university ah assignments. I mean, unfortunately, when I was writing mine, there was no chat GPT back then.
00:07:06
Speaker
Exactly. ah it it It appeared like ah a year later or so. So unfortunately, I missed that window and I couldn't just, ah I mean, excuse me, I would never plagiarize anything. Of course, I would never plagiarize anything. I'm not saying I would. I'm just saying that it didn't appear and I didn't use it, but I'm not saying that I actually would use it. ah No, no, no, no, that would never happen.
00:07:25
Speaker
And it's ah as you may know, a lot of universities are, let's say political. The vast majority of universities are essentially government funded, at least over in the UK. And we are talking about UK universities, at least for the time being, because the pipe company is, pipe company and PGF launchpad are based in UK. So that's primarily the clients that we are working with, right not the clients, the university projects, the clients are separate things, but whatever.
00:07:52
Speaker
ah When we're talking there, a lot of it is actually political. And if we have half of the country believe in one thing, the other country half of the country believe in the other thing, and ah that comes to science as well. The two winks a lot of times disagree on the base science behind ah some of the projects. That means somebody has to be wrong. And the that ah puts a lot of question into who is right. And by extension, that's A lot of projects are going to be wrong from the get-go on its very foundation. And did you know that ninety percent ah roughly 90% of all projects that are at angel investor or early VC level actually fail within the first four years? That might ah sound to you a lot like Web3. And yeah, because it does. In Web3, it's also a very high ah failure rate. So if you take that 90% failure rate for specifically academic
00:08:50
Speaker
um academic research projects and then an additional 20 to 34 percent risk of being outright fraudulent, not just wrong because they assumed their own foundation but actually being fraudulent, actually scamming, then that really makes a very narrow margin for success. You would need to operate within let's say 10 percent another 20 that leaves you with like seven to eight percent chance of a You have to find the seven to eight percent of projects that would actually be the ones you would want to invest. Stop. Are you looking for a way to make passive income with your online business with a quality partnership that has low startup costs? And the pipe affiliates and referrals is for you. An affiliate is an individual business that helps promote the pipe services in exchange for a commission on the sales or leads that generate from their links.
00:09:43
Speaker
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00:10:02
Speaker
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00:10:17
Speaker
yeah and there Now we've been greeted with a big graph, with a big list. So we're just going to read through that quickly. So obviously early stage, like Sleazy mentioned, early stage or precede slash sleeve investments are high risk with 90% of them failing. ah Principal risk is high as investors focus on what they know. um Due diligence is often, um what's that, less than 20 hours?
00:10:43
Speaker
thus increasing failure rates. Easy comparison of projects across themes is difficult, and then the standard metrics and outputs to compare are quite difficult. Decision making can often be an emotional thing. You don't know whether you want to do it or not. ah u University projects lack leadership teams, which again equates to high risk. Universities are different and want different things, and it's a difficult space to invest in. It's complex and it's political.
00:11:11
Speaker
ah Current university output also lacks standard metrics and quality under considered routes to market, assessment solutions at TRL, which is ultra early, lack of commercial planning and understanding, and lack of commercial knowledge and experience. Naive structures, which then goes on to demand, which goes on demands on investors.
00:11:35
Speaker
yeah It sounds a lot like we could benefit from an an empty entity, do a lot of this stuff for us. Exactly. but An entity that we could trust and have ah ah someone who has oh extensive experience with ah such with such type of investing and the picking out projects. You think we could benefit from that?
00:12:00
Speaker
Maybe. Yeah, I think just getting drunk and picking a project might might also work, don't you think? And now speaking about our own DAO, because we are DAO and by DAO means that we tokenize the IP, so intellectual property and split it into tokens and then we have ah people invest into our tokens and then they get governance rights and yeah stuff like that.
00:12:31
Speaker
So given, ah well, not not just else, but in general, how would we actually make this process works if the failure rate is so high and the investors oftentimes do not have a good way to actually determine what is a good investment and what isn't?
00:12:50
Speaker
Of course, Desai has not ah existed for long enough, so we cannot actually draw too many conclusions. It's been like, what, like two to three years, maybe, that a molecule has actually coined the term and started producing and quite a few projects with it. But we can talk about our own history, as Rob explains. Over the last several months, maybe even a year, but at least on the blocks it says months, ah they've been approached by several entities who wanted to do something similar. And one of the issues that the that we see they are going to face, but all of them are are oblivious of it, is that if they actually go to those projects,
00:13:34
Speaker
and the offer some investment as well as, um let's just say, management over the funding part. A lot of them just assume that the TTO, so Technology Transfer Office, will be more than happy to relinquish control to them.
00:13:51
Speaker
and let them do their thing with no interference but in the reality it is in vast majority of situation is not the case they are going to have their own set of rules they're going to have their own culture because remember scientists are not businessmen they have their own worldview that they have a lot of the times they're not going to ah well as they say, for real or low, for better or for worse, they're not going to focus too much on business. They're just going to focus on their part. But that does not mean that they're going to stay focused just on science. They will also want to have some business influence over the project they are inventing.
00:14:35
Speaker
They may even operate their own investment funds, so the opportunity to secure the very best 1-2% of the IP-rich projects from the top universities is actually very limited. I bet I could make it while being drunk. you'd think You think you could do it? yeah How positive are you?
00:14:56
Speaker
Well, it hasn't happened yet. no I've lost a bit of money in this. ah Well, not a bit, but I'm pretty sure I can make it. ah like all i All I have to do is do it a hundred times and eventually I'll reach that one percent. Exactly. one One will come through. Yeah, statistically out of a hundred, I'll pick one. You'd make a phenomenal gambler. We should go to the casino here.
00:15:19
Speaker
and As I was saying, ah one to two percent of the rich projects from the top universities, it's very limited outside of their existing operations, okay? So this is not to say, though, that the approach these universities take is what we could to refer to as the best practice, only that their process, and is and as it stands, it's embedded and it's very, very difficult to change and replace. My approach to this is not best practice.
00:15:48
Speaker
No, no, it's not. No way. Easy, I'll go with mold. And you're you're ruining a lot of businesses. I guess I shouldn't be trusted with the finances over a business. No.
00:16:00
Speaker
And it looks like out of all of the ones that they would be able to give away, that they would not take charge themselves, would be the ones that really are what they would think are not as profitable.
00:16:16
Speaker
or ah Well, I guess there are several ways to consider this. Some of them are ah A lot of like the primary reason for this is of course profitability, because this is a business, but also the impact on the outside world that is sometimes also becomes a ah consideration for people to invest into projects that they think would make um would make an impact.
00:16:40
Speaker
So I guess stuff like this is what we are left with if they're not being picked up by their own TTOs, which really is the first one. TTO is going to be the first one who is going to get ah the choice of who he wants who it wants to invest into and does not. And then we would really have to pick out voice we would have to pick out the projects that are good, but TTOs considered that. I guess that would be our remains.
00:17:09
Speaker
like they get and like the lion eats them ah the the good part yeah fun fact uh animals actually eat organs first and then they leave the meat the meat for everyone else i saw that they they ate like eyes and stuff or i don't mind them from a film but yeah actually organs are very nutritious it's just us humans who for some reason decided not to eat them but Yeah, that's enough for this. So all of this increases really the risk of how we would choose the potential projects. And here is, or really is the meat of the problem. The meat. Because we get the meat, not the organs.
00:17:49
Speaker
hey
00:17:52
Speaker
So what is the solution to all of this? now What is it, Noodle? Tell me. Well, I'll tell you what Rob says because Rob actually personally stated in this blog post that he he started working with university technology transfer offices in about 2012 and learned that any solution to the commercialization problem must have three key things.
00:18:17
Speaker
Number one, opportunity. There has to be many, many projects that can be disclosed and validated in an Apple for Apple sort of like standardized manner. Two, people. You must have experts able to appraise ideas and carry out due diligence on and form teams. And number three, funds. There must be an available pot of cash to back projects in a timely and patient way for the long term.
00:18:46
Speaker
With DSI, it is focused mainly on point three and perhaps a little on point two, but this is assuming that a partner DAO can attract people who are more than crypto degens looking for an airdrop and flip and again.
00:19:03
Speaker
That's a big ask, and that's before we consider governance, selection, and investing, et cetera, et cetera. Did you know up to 45% of recruited talent database are dormant? This means 45% of your revenue is left on the table. Wow. I know, right? But but if you repurpose your talent database by redirecting them to nascent industry technology in high growth, you can share a portion of the high growth sweat equity too.
00:19:32
Speaker
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00:19:58
Speaker
So the result of that is that the design movement becomes too one-dimensional in terms of funding and maybe a little bit of people. So hoping that the marketing community can find form and finance ideation while not considering ah the potential for fraud, ah the quality, being too poor, and the overall risk.
00:20:18
Speaker
as we talked about before. While the focus on tokenization and funds works as they are able to fund successfully some projects, what is really missing is the rigor and the assessment of the quality of the project. If that isn't done then that's essentially a recipe for disaster.
00:20:34
Speaker
And this approach, the different approach to how the industry is doing it right now, is really coming from the fact that the founders left this TTO, University Transfer Technology Office experience for quite a few years and now know, really see and know where the problems and and opportunities lay. So it's not tokenization for the sake of tokenization. It is more so, and I quote, create a paradigm shift in how university, research and development slash IP is realized in to deliver commercial, environmental and slash or societal impact. Reduce risk and increase returns through a systematic, standardized and repeatable methodology. That was a mouthful. And of course we do believe that the use of TLT
00:21:14
Speaker
aka distributed ledger technology and a tokenized ecosystem ah within our ah setup ah companies they which are Pyplatform, LAP to IPO pathways,
00:21:26
Speaker
pipe exchange, PGF Launchpad, pipe GDAO is because it makes the entire system more fair, equitable, open, honest for all of its parties, including stakeholders, members and investors. But before that, have you heard of a certain logo designer that managed to turn $2,000 into $200,000?
00:21:49
Speaker
I have not. Please tell me more. Oh well. His name is Dustin Moskowitz, a simple designer whose genius foresight in an early university startup, Facebook, changed his life. Yes, he designed the Facebook logo. And you can do this too by contributing to nascent technology startups from universities of today through PIPE Associate Network.
00:22:11
Speaker
Find out how you can get started today by going into the description, our link tree, and look for www.arbito.io slash pen. And within that, Del, we have for our sort of own mission, vision and values. ah Our mission being to grow the unique potential of academic R and&D through a purpose purposeful and committed process that helps the developed world-class businesses in the future. That's the main aim, tackle the European paradox and sort of build these big businesses, not just within Europe, but around the world. that
00:22:48
Speaker
can be started in university labs. Number two, obviously, is vision to so it's to be able to support viable innovation and aspiration of academics with a simplified approach to funding via the revolutionary pipe platform. Revolutionary. Revolutionary. Yeah. yeah and then of ah And then obviously our values to embrace openness and honesty with our employees and customers in a fair and balanced way.
00:23:16
Speaker
the pretty much The only way DSI really works is if you can rigorously qualify ideation before it becomes a project, which is obviously leverage deep domain knowledge and experts to support due to diligence.
00:23:32
Speaker
assume that projects may be served if licensed to a third party or created. And we have a big graph here on the blog that ah would be a little bit difficult to explain it in its entirety yeah ah in a podcast. I suggest you go to the blog and actually read it.
00:23:48
Speaker
It ah has quite a few details on ID onboarding. where We have the Lab2IPO website, which then if you go there and register and perform a KYC, you can get to the disclosure of project details. But that's on the client side. On their side, they are actually performing disclosure what is more detailed between ah themselves, Lab2IPO and the project. They have ah a rigorous review. Project analysis, there is the pipe ecosystem.
00:24:18
Speaker
including IP creator, corporate partners, observers, associates, commercial partners, there's decision-making type of graph, there's investing, there's standard reporting, which is ah quite a few pages long, there's IP protection, and again you really have to see it to be able to understand it.
00:24:35
Speaker
So Rob says in the rush for Web 3 to do something new and integrate the tokenization to be a more fair to all parties, we seem to skip from one new idea to the next without much thought of what we are doing. And the risk of it all is that we end up doing nothing.
00:24:53
Speaker
And Web3 provides us with a great opportunity to ah get to realize this untapped potential that has been out of reach of a lot of us for a very long time. So our pipe ecosystem is a solution that opens up the DC community as well as ReFi and SocialFi community.
00:25:10
Speaker
and always members and brings together IP creators and IP exploiters in a marketplace where they can collectively solve the biggest issues that our planet is facing, as well as realize the biggest opportunities for wealth creation, whether that you are a researcher, inventor, investor, just a simple community member, or an expert in your field, a university, or just an average Joe on the street. The Pi Pico system is designed to be built around you, whoever you may be.
00:25:39
Speaker
And you can go to our socials, join our ah join our um our DAO, and have a look at all of them. And in fact, if you want to know more about the approach that I listed, you can go all the way to Lab2IPO and do a little simple KYC.
00:25:59
Speaker
that is quite quick, and gain access to some of the files, sign the NDA, of course, and then then gain access to some of the presentations that are available for those projects. And now we'll see each each other in the next episode. Yes, we will.