Steemit, Inc. What is the business relationship with SteemIt? Normal Questions in a New Frontier.
As an investor and potential future investor of more money. What accountability does SteemIt, Inc. have to the investors of Steem?
Do they have a responsibility for transparency? Why or why not?
Road map? If they fail, is SteemIt dead?
The plan calls for mainstreem adoption, but does it call for mainstreem criteria? (founder investment, business plan, past success, all of the things I would consider in a mainstreem investment. (yes, bad spelling intentional.)
I want to see a road map! I want a business mission, an organizational flow chart, a plan, a time line. A road map... A reason to invest. (Oh no, whatsup, this is Crypto.) Well, let us not pretend it appeals to mainstreem.
@dantheman @ned - does your company report to the investors of Steem or not?
I am not saying it doesn't ---- I just don't understand the relationship.
Steemit, Inc. is a privately held company, and they have no obligation to the community or SP holders. They can chose to run their company any way they want, and they do not have to do anything we say.
There are good arguments to be made that it is in their best interest to listen to the community and follow our suggestions. There is a difference between a suggestion and a demand though. We can suggest.
[Edit] Also, to clarify - as investors, we are not investing in Steemit, Inc. We are investing in shares of Steem Power (or STEEM/SBD coins) which give the powers defined by the blockchain rules.
Got it thank you for clarifying.
Welcome. I hope what I wrote didn't seem like too much of a 'rant' :)
Ah, a rant deserves a rant sometimes, I am not offended. :)
I guess they are bound by law to do that, but you have a point!
Upvoted as I feel a good answer to this question shall boost confidence of the investors, and in the community as well.
I would love to see any answer.
It is maybe an idea ahead of it's time and they don't know how to justify it. Which doesn't mean it doesn't have value?
Well, my friend, thanks for giving it a shot. Wil be a long time before I invite others.
@ned have already answered to that before :
From here
https://steemit.com/steem/@officialfuzzy/steem-economic-changes-update-officialfuzzy-s-thoughts-and-concerns
As an end user, I am expected to find every answer they have, instead of them communicating to the potential investor? Not sure what you are saying?
My understanding of that answer is : "Steemit inc is just an end user of SteemIt, exactly as you and me, maybe just having a bit more money" )
Interesting. I am curious if there will be any different answer. (thinking not)
You are right that does answer my question. I am not on SteemIt Inc. Cap Table. Of that I am sure. Also, I seriously doubt I ever will be.
I think any other approach might just results in people taking legal action against Steemit inc
Interesting point.
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