Are you using 64-bit Ubuntu or 32-bit? If the former, you'll need to install I believe it's ia32-libs in order to run DreamDaemon, which is a 32-bit executable.
-bash: /usr/local/bin/DreamDaemon: No such file or directory
Is the exact error you get when you're missing 32-bit libs on a 64-bit OS. Considering the lack of detail in the original post, you can't really assume what he meant any more than I can so we're both pretty equally wrong.