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RE: Fair Wages, or Why Steemit Isn't Right for Cultural Institutions...Yet.
Awesome work, Ted. In my process of understanding blockchain I have really clung to the comparison to stocks. But....we wouldn't ask a cultural institution to invest their revenues in the stock market. Maybe that's an oversimplification. I don't think I have anything to add beyond what you've said, but I agree with you. It feels too risky at this point to be worth taking on.
I might not be understanding you fully, but don't cultural institutions depend largely on the stock market for their endowments? And aren't they at the mercy of factors entirely out of their control? We can look at the impact of the recession a decade ago, for instance, when the geniuses at Harvard lost 22%. Take a look at this jarring chart and imagine yourself running a nonprofit in 2009 that depends on revenue from endowment. What was their response? HODL! Not unlike the cryptos of today. So how different is where we are from that?
