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RE: Method to the Madness - Vulture Capitalism Comes to the Blockchain
Excellent write-up V - V for vapid, not Vultures, which does seem to be what we have circling at present. I've had to distance myself a little this week, too annoyed to get involved although I understand now is probably the time to make some noise.
I think you could be right about the 'no-shop' clause - Trons dealings in the Bittorrent suggest they have gone this way before, and it's worked favorably for them.
Again, excellent work, and I hope many get to read.
Lol, V for Vultures...
It does seem to be the Modus operandi of Tron gobbling up other more innovative projects that are struggling and then plastering the Tron banner over top of it.
We haven't really seen this yet in the crypto space but I'm sure we'll see more of these type of takeovers in the future, especially from companies like Tron who don't seem to produce anything of significance on their own.
Yeah there could be more of these on the way. Perhaps they'll learn from this move - losing the faith of the community and lead developers at the company, arguably Steem's main draw must be a huge blow. I guess he'll be dumping ASAP :/
I think dumping asap may have always been part of the plan...
If they bought at below market price then he's already made a juicy profit, if he could overthrow the governance and get those funds to the exchanges quickly. He's got one foot out the door but he's taking a beating atm, especially his reputation in the space.