Applicant Information:
Name of Applicant & Applicant’s Representative (If Applicable): Bernard Schmid on behalf of Areta
Email Address: bernard@areta.io
Telegram Handle (if applicable): bmitte
LinkedIn Profile (if applicable): Bernard Schmid - Areta | LinkedIn
Primary languages spoken: English, German, Spanish
Disclosure of other time commitments: Partner at Areta, Uniswap-Arbitrum Grants Program Lead
Personal profile & background: Find details on my background here
Details on background and experience
Experience
Please briefly overview your experience in the digital asset industry and, more specifically, the Ethereum & Arbitrum Ecosystems. Include any relevant projects, contributions, or roles within the ArbitrumDAO, if applicable. (400 words max)
The initiative will be led by Bernard and supported by a dedicated team from Areta. We are an ex-McKinsey/Blackstone team specializing in complex governance processes and strategic transactions and have had the privilege to work for some of the leading companies and DAOs in the crypto space.
Examples of our work include leading the first cross-ecosystem growth initiative for Uniswap and Arbitrum, the first acquisition of Coingecko, the sale of Solscan to Etherscan, and the strategic wind-down of Gro DAO. All of these initiatives share one common element: a strong focus on establishing clear and transparent processes, tracking and reporting outcomes, and communicating these to the highest quality standard. If these standards were not met, leading parties in the industry would not repeatedly engage us in complex situations.
We have been very actively involved in Arbitrum DAO’s governance, including leading the Uniswap-Arbitrum Grant program, initiating the Uniswap-Arbitrum Metagovernance program, and actively contributing to the community calls and various working groups. We had many interactions with delegates on- and offline, and see ourselves as long-term supporters of the ecosystem.
My experience at McKinsey and as Founder of Areta equips me perfectly for this role. At McKinsey, I gained extensive knowledge in procurement principles and operational, and administrative functions. My integrity is proven by my ethical and transparent career. At Areta, I developed a keen market understanding of service providers and mastered the intricacies of contracts and offers, vital for effective negotiations. I bring skills in financial analysis, communication, project management, including proficiency with tools like Asana/Airtable/Notion.
Objectives & Motivation
Explain how you envision contributing to the primary mandate of ADPC (300 words max)
In addressing the challenges of large-scale DAOs, especially in service provider procurement and management, my vision for the ADPC mandate is clear. With my background in the Arbitrum ecosystem and at Areta, I aim to bring a depth of knowledge and experience to ensure the highest quality in service provider engagements and focus on:
- Operational Efficiency: Streamlining operational processes to enhance Arbitrum’s growth with the right choice of service providers.
- Structured Frameworks and Negotiation Support: Implementing comprehensive frameworks and processes for evaluating complex proposals and leading active negotiation to close preferred conditions for Arbitrum DAO.
- Communication Transparency: Emphasizing clear, transparent communication and reporting to the DAO for accountability and to provide ground for optimization.
Integrity
Disclose any past or present involvement in ethical breaches, fraud, manipulation, or other forms of misconduct. If you have no history of such activities, please explicitly state this. (300 words max)
I don’t have any past or present involvement in ethical breaches, fraud, manipulation, or other forms of misconduct.
Skills and Experience
[Refer to Eligibility Criteria] Provide details about your relevant skills and experience in Legal, Operations & Admin, including any previous work or contributions related to the mandate of the ADPC (300 words max)
My qualifications in Legal, Operations, and Administration are well-suited for the ADPC’s objectives, drawing from my experiences at McKinsey, Areta, and in the Arbitrum ecosystem.
My involvement in strategic projects and governance in the crypto space showcases my adaptability and proficiency.
- Procurement Skillset and DAO-Native: My analytical skills and structured approach translate effectively into the DAO context. Working with leading DAOs has given me insight into the unique requirements of service providers in the DAO space compared to traditional sectors.
- Transparency and Accountability: My role in key projects like the leading the Uniswap-Arbitrum Grant Program underscore my commitment to transparent processes and accountability.
- Clear Communication and Stakeholder Engagement: Engaging with major stakeholders across DAO ecosystems for complex initiatives is my bread and butter. This enabled me to led even complex governance initiatives like the wind-down of Gro DAO and larger financial transactions in the space.
- Negotiation and Financial Analysis: At Areta, I frequently negotiate with suppliers and customers, applying a structured approach to offer comparisons, demonstrating my negotiation prowess and financial expertise.
- Capacity of High-Performing Team: Areta is equipped with a full team that can be deployed as needed, adept at managing work peaks in setting up processes and selecting providers, as well as in ongoing process management.
Industry Knowledge
Explain your understanding of the specific industry or sector related to the services in which the ADPC will operate, especially in the context of procurement. (300 words max)
I run a crypto-native strategy firm called Areta. We have worked with and contributed to various DAOs of different sizes, including Uniswap, dYdX, Safe, and Gro DAO, as well as leading players in the crypto industry such as Coingecko and Solscan/Etherscan. Additionally, we’ve collaborated with more than 30 leaders in research, including Polygon and Sandbox. Our network encompasses a broad range of crypto-native organizations and DAOs, crypto companies, VCs, and institutional entities.
I am confident that our experience in establishing and managing structured processes from the traditional and venture side (McKinsey, Blackstone), combined with our crypto-native work, equips us with the necessary skillset to develop procurement processes that truly meet the demands of Arbitrum DAO. I fundamentally believe this role goes beyond traditional procurement and requires a nuanced approach that factors in the specifics of crypto-native service providers.
My experience has equipped me with a solid grasp of financial aspects crucial to service procurement, including budgeting, cost analysis, and the financial intricacies involved. This expertise stems from the necessity of crafting comprehensive Request for Proposals (RFPs) in tendering processes. These RFPs require a thorough breakdown of budget allocation for specific projects, an in-depth assessment of costs, cost estimations, comparisons of various cost factors, and, significantly, a detailed cost-benefit analysis.
Financial Acumen (Service Costs)
Describe your experience and capabilities in budgeting, cost analysis, and understanding financial implications related to service procurement. (300 words max)
My professional background encompasses a range of financial expertise, notably in investment banking with Barclays, venture capital with Atlantic, and strategy consulting with McKinsey. My focus in these roles has been on budgeting and cost analysis, which are key components of effective financial management.
Furthermore, we as a firm are one of the leading investment banks in crypto, naturally being involved in managing and owning financial models and forecasts for significant projects in mergers and acquisitions, as well as capital raising efforts. Within DAOs, my experience as the lead of the Uniswap-Arbitrum Grant Program has given me a deep understanding of working together with crypto-native service providers and the unique challenges attached to that, including forecasting, milestone setting, tracking, reporting, and managing payouts.
Complementing my practical experience is my academic background, where I earned a Master’s degree in Business and Economics, with a Finance specialization, from the London School of Economics.
Negotiation
Highlight any previous experience in negotiating service agreements, and securing favorable terms, pricing structures, and quality standards with service providers. (300 words max)
As a Partner at Areta, I have extensively engaged in negotiating service agreements, securing favorable terms, and establishing pricing structures. My role involves negotiations with clients and counterparties, where I lead discussions and strategize to achieve optimal outcomes. This has included conducting market assessments of selected parties and overseeing competitive selection processes (beauty contests), to ensure the best fit for service needs.
My experience extends to guiding teams through complex negotiations, and providing insights and leadership that ensure fair and effective agreements. This has sharpened my understanding of the nuances in service agreements, especially in fast-evolving sectors.
This expertise is vital for the procurement committee’s role in the ArbitrumDAO ecosystem, where securing advantageous terms with service providers is crucial. My approach focuses on aligning agreements with both parties’ expectations and the overarching quality standards. This ensures a balance between value, efficiency, and compliance with agreed-upon criteria, contributing significantly to the procurement process’s success and integrity.
Project Management Abilities
Provide examples of your project management skills related to service procurement, including planning, execution, and performance monitoring. Include references to any relevant tools that you’ve utilized in this regard. (300 words max)
My project management expertise, particularly in service procurement, is grounded in experiences ranging from orchestrating large-scale projects for S&P 500 companies at McKinsey to strategizing for bootstrapped startups. This spectrum of work has sharpened my proficiency in all aspects of project management, including meticulous planning, efficient execution, and rigorous performance monitoring.
At McKinsey, the use of Agile methodology and tools like Notion/Asana for project management was integral in managing complex timelines and deliverables. These experiences honed my ability to effectively allocate resources, track progress, and adjust strategies as needed, ensuring the successful delivery of each project.
Additionally, my role in setting and monitoring Key Performance Indicators (KPIs) and Objectives and Key Results (OKRs) was crucial in maintaining a clear vision and measuring project outcomes against established goals. This strategic approach has been vital in my work, from managing expansive projects for leading corporations to guiding smaller-scale initiatives in the startup realm.
Technological Proficiency
Kindly detail your experience with service procurement software and tools, focusing on key insights gained from your prior use of platforms such as Asana/Airtable and Multi-Sigs. Additionally, list any other relevant software and tools that you might have utilized or consider pertinent in this domain. (300 words max)
I have been using various project management tools mentioned to a high degree throughout my career. This includes Asana, Notion, and the use of Multi-Sigs.
I have effectively used Asana for organizing and monitoring various projects, including client engagements and DAO contributions. Its user-friendly design has been crucial for maintaining project timelines, assigning tasks, and tracking progress, ensuring transparency and accountability.
Notion has been invaluable for its streamlined communication and organizational capabilities, enhancing collaboration and efficiency in complex project environments.
Additionally, my practical experience with Multi-Sigs, especially using Safe, has played a significant role in managing the Uniswap-Arbitrum Grant Program. This experience underscores my capability in ensuring operational security and accountability in sensitive financial and strategic operations.
Final Comments
Thanks all for considering my application and the 1-on-1 discussions leading to this application.
I am confident in my suitability for the role, given my extensive experience in strategic project management, developing processes and structures, and leading negotiations from the largest scale projects to small projects.
I aim to serve the role with a focus on:
- Operational Efficiency: Streamlining operational processes to enhance Arbitrum’s growth with the right choice of service providers.
- Structured Frameworks and Negotiation Support: Implementing comprehensive frameworks and processes for evaluating complex proposals and leading active negotiation to close preferred conditions for Arbitrum DAO.
- Communication Transparency: Emphasizing clear, transparent communication and reporting to the DAO for accountability and to provide ground for optimization.
In my initial weeks, I plan to deeply understand the needs of the DAO in procurement through reviewing past procurement decisions, identifying areas for improvement, and shaping a day-1 framework to then be iterated. This will inform the establishment of key framework areas.
Looking forward & always available for any questions or further discussion! 