I caught the first 15-20 minutes, and I am still confused what is it supposed to do for BitShares and why is this being called forking.
Welcome Dawn! I listened to the mumble session where you introduced your project and it is a great project! Looking forward to it!
As I see it: Dawn would be a "normal company", not a DAC in the sense as BitShares or Bitcoin are DACs. I define a system as a DAC that provides a "ledger based service" (updating account balances via a blockchain, (money), trading/exchange/bank based on a blockchain, issuing lottery tickets etc.). The service Dawn wants to offer to customers is not a ledger based service (selling hardware). What Dawn wants (as far as I understood it) is to manage their company based on a public ledger (including: assign property/shareholder rights, shareholder voting, paying dividens etc.). They could do this in two ways:
(1) Fork Bitshares to "Dawnshares" so that the native tokens of this DAC (Downshares) would represent the shares in the Dawn business (selling hardware).
(2) Issue a User Issued Asset that is tracked on the BitShares blockchain and give it to the shareholders of the Dawn company. Here is a great by BM about user issued assets: https://www.youtube.com/watch?v=yzruOULgmng
(1) would be a lot of effort and has no advantages as I see it. BM mentioned one I can not recall right now.
(2) would be much more cost effective, could do everything (1) can (BM mentioned one thing it can't that I can't remember right now) and would provide much more liquidity / more exposure to users of BitShares.
One real difference is the security and maintainance: With (1) Dawn provides for it's own security and maintenance (security that transactions (sending Dawnshares, voting etc.) are not reversed and that trading shares and voting is always possible) and small Dawn shareholder would have to trust that the big Dawn shareholders are not colluding. With (2) Dawn externalizes security and maintenance to the BitShares network. (2) in that sense would be more neutral.
@faddat: Here are two articles about what the term DAC describes: http://wiki.bitshares.org/index.php/DAC/Crypto-Equity_Analysis_under_the_DAC_metaphorhttps://bitsharestalk.org/index.php?topic=3901.0
The term "DAC" was intended as an analogy to describe and analyze "crypto currencies" like Bitcoin (and BitShares).