OrangeDAO

Full proposal here: https://docs.google.com/document/d/1UrTa9zadu9YfzJRvxYIlcqgKVPgXlbOX7QpnFdNPn7o/edit#

Goal: Pilot the first physical space for Orange DAO in an amazing location where members and portfolio companies can cowork and host events.

Single Point of Contact: @oparrott.eth

Sponsors: @cryptpal, @JeffShaw, @oparrott.eth

Description: This proposal enables the DAO to rent a pilot hacker space from a fellow DAO member. The San Francisco location will be just the first pilot of many hacker houses around the world.

Design Requirements

Vibe: Down to earth, not too corporate. A good place for friendly vibes, more like a house, high end but low key. Size: 2,000-5,000 square feet. We want to start small so that we can fill the space and not spend too much or have it look empty. Potential Uses: Orange DAO co-working, regular and special events up to 150 people, possibly co-living. Ownership: Partnerships or Venture Team can establish an Hacker House Team to handle access, use, finances, and operations at the property. Financial: The plan is to rent before owning. Taking one step at a time, finding what works. Purchasing a property in the future may become a reality but it is outside the scope of this proposal. Initial target budget $10-30K USD/month. Timeline: Season 1 and beyond. We plan to continue having a physical (IRL) space for Orange DAO and portfolio companies to meet, play, and work together indefinitely. Ceasing to have an Orange IRL Hacker House can be decided by future proposal.

Target Property

580 Howard St, Penthouse Level Property video: https://vimeo.com/725500116 Property photos: https://app.photobucket.com/u/cloudfortress/a/31d79660-0dd4-4d61-bcec-254c5585242e 3D Walkthrough & more details: www.cloudfortress.org

Orange DAO Member Jeff Shaw (YC W15) has offered his company’s former office.

Space: High-tech furnished penthouse is turnkey with over 6,000 sf (3,500+ indoor and 2,500+ outdoor private terrace), with vaulted ceilings and expansive open spaces. Nature and sunlight span both the indoor and outdoor areas of this penthouse. Property: This penthouse has several open areas and private spaces, including a vaulted-ceiling co-working space, as well as several office suites and bedroom suites. As you enter the secure building, the elevator opens directly to our private penthouse floor. We have the entire top floor of the building, with luxury amenities and “one of San Francisco’s best views”. The views can be seen from each private office’s private terrace patio gardens, as well as from our giant communal wraparound terrace which include a hot tub overlooking the downtown city lights, a plush Orange-cushioned firepit lounge, an edible vegetable garden, and a putting green. Inside the building are 20 foot vaulted ceilings with skylights, a full-size bar, and a commercial-grade kitchen with all top-of-the-line appliances (Sub-Zero refrigerator, Viking range and indoor grill, dual-Gaggenau convection ovens), as well as a fully stocked kitchen with snack dispensers, reach-in drinks drawers, and appliances such as a Breville barista-grade espresso maker. The property already comes well-equipped with dinnerware, flatware, and glassware for 40+ guests. The space also includes a large 400sf storage garage. Location: In the heart of downtown San Francisco’s East Cut / SOMA district, our property overlooks the brand new Salesforce Park botanical gardens, and is walking-distance to hundreds of San Francisco’s best restaurants, bars, nightclubs, VC firms, and tech offices such as Facebook, Google, LinkedIn, and more. It is just a couple blocks from the Embarcadero, providing walking access to waterfront piers to take in the views of the sparkling Bay Bridge, the Ferry Building, and the world-famous weekly Farmers Market. It is also just a couple minute walk to the Metreon, Westfield Mall, movie theaters, the Museum of Modern Art, comedy clubs, and the Yerba Buena Gardens and waterfall. The building has a Transit Score of 100, providing unparalleled access to BART, MUNI, buses, and more. Bike lanes flank the area making it a bike riders paradise. There is also substantial street parking, parking lots, and parking garages on the block. This is in a special East Cut SOMA subdivision which has a safety and cleanliness patrol of the area providing all of San Francisco’s best attractions in a safe and clean environment. Jeff will continue to occupy a (live-work) bedroom suite attached to the penthouse. He has offered to operate the building to make it turnkey for us. This improves security and ease of use. He’s already familiar with the property and how to care for it. Maintenance and cleaning teams are already established with known costs. Rent: $15K USD (inclusive of rent, HOA, water, sewer, trash, gas, high-speed internet). This top-level penthouse could rent for $30,000 at full market rate but we have exclusive access to it through our network. Availability: Now.

Diligence Process

Orion has owned and managed rental properties for 23 of the last 25 years. He is a partner in a real estate fund that restores and operates historic mansions in the Berkshires of Massachusetts.

In search of the perfect Orange DAO Hacker House, Orion and Don have visited 25+ San Francisco area properties in person since February. We worked with commercial brokers at https://ipgsf.com/. This gave us a sense of the market dynamics in 2022H1 and the prices per square foot in neighborhoods including the Mission, SOMA, and downtown. A list of comparable properties from these brokers is available on request. This extensive search has informed our view of what we need in a property (see Description) and what we expect to pay. Based on these recent and local market explorations, we have selected Jeff’s property at 580 Howard St as the top choice.

Benefits: Meeting in person with fellow Orange DAO members. Hot desks for members. Assigned desks for contributors or based on ORANGE or other DAO criteria Establishing our culture in person. Provide valuable office/desk space to Orange DAO portfolio company founders. Build awareness for Orange DAO within the YC community for example by allowing any alumni to hot desk if they join the DAO, subject to availability. Host our own regular and special events, including demo days or mini conferences in our own physical space that represents who we are. Set up our world headquarters. The Venture Team and in fact any Orange DAO Team can take meetings in person in San Francisco with startups, venture funds, investors, etc.

Candidate Success Metrics, subject to Hacker House Team adjustment: Number of monthly users grows over time up to capacity (both DAO and portcos). Number of monthly web3 Portcos supported. Valuable SF office space is acquired and made available to the DAO for coworking for short term (travelers, hot desks) and long term (founding teams). Data is gathered on improved portco outcomes, additional deal flow, brand awareness, and new DAO membership that can be used to decide to create IRL nodes in other cities. Events and coworking reservations are teed up in advance. Prioritized goals of Venture Team, Partnerships, and permanent committees are executed on consistently. A system of fair access is built for all members of the DAO.

Success Confidence: (If this proposal was executed 100 times, how many times will it meet its goal?) 95%

Duration: Start: During Season 1 (August 2022) End: Until terminated by proposal.

Tokens Requested: (Treasury control) (Treasury Guidance) $ORANGE Total: 40,000/year For Hacker House Team: up to 15,000/season to be spent as needed For property operations by Jeff Shaw: 5,000 $ORANGE/season $USDC Total: $230,000/year + $50K initial improvement budget ($23.3K/mo total over 12 months) Rent: $15,000/mo = $180,000/year Janitorial: $1,500/mo = $18,000/year Events hosting (staff, catering): $0. Covered under Partnerships S1 budget. Food and Beverage: $20,000/yr Insurance: $3,000/yr Internet: $0 (included in rent) Gas: $0 (included in rent) Electricity: $9,000/yr Improvements: $50,000 (one time)

Token Distribution: (Sponsors’ control) $ORANGE Jeff Shaw: Up to 5,000 per Season until terminated Hacker House Team: Up to 15,000 per Season until terminated Proposal writing: 0 to oparrott.eth. $USDC $280,000 in year 1, $230,000 after until terminated $ETH Gas money for signatories of Hacker House Team wallet: 0.5. If less, return to DAO.

RISKS: (Open to All Members) By oparrott.eth We have way too much demand for coworking space and can’t satisfy all our members. Mitigation: We can always rent additional locations as we grow, or replace this one with a larger one. By arian with people in a physical space, what’s the liability / who is liable here? the dao / llc / fund? I wouldn’t want something crazy to go down in a rager and have the dao be liable / negative press for it. Mitigation (offered by Orion): We will have renters insurance. This risk applies for any DAO events whether at a leased space or short term rental.

COUNTERPOINTS: (Open to All Members) By oparrott.eth We don’t know where the real estate market is headed. Response: This is why we are renting. Also, this property is an inside deal from a DAO member and represents one of the best opportunities on world class real estate that fits our budget and vibe. By oparrott.eth But it’s not crypto. Response: This first pilote node of a physical space is an important step towards becoming a digital nation. This can help legitimize the function and operations of DAOs. By arian 5% of annual cashflow is substantial Response: I had to remove the 5% because we expect a few more $M next week. Not that having money means we should spend it. But let’s consider this proposal against alternative uses of cash flow. By arian Can we get monthly metrics sent around in discord with attendance / efforts being made to increase engagement? I’ve heard other communities, in SF specifically, have trouble getting people to not wfh. In NYC it’s not a problem but SF people are just not going in. Response: This proposal is about whether we should rent a space. Reasons for and against metrics have been offered by members of the DAO. Candidate metrics have been proposed for the Hacker House Team to develop. By arian How many people are committed? Should we have a baseline of 15 to be willing to put this up as a proposal? Response: Anyone can propose. No need to treat this proposal differently from other proposals. By arian How many people need to have a higher NPS as result of this? Is it 100 and if so are we willing to spend $2500/pp to get their increased NPS? How will we get that 100? Response: Aiming for the whole DAO to benefit.