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RE: Let's talk about investing on Steem.
Let’s talk about investing.
- There is no money in content. At best it is merely social capital and only an absolute minority can capitalize on that.
- If nobody can capitalize on that... why would anybody invest
- Show me the amount of incoming money in last 10 months. I mean money... anything actually invested above $50k, not the result of somebody having mined some coin and maximized after the compulsory post-ICO pump and dump. Actual money.
- Investors don’t invest in tokens, they invest in teams.
- Only gamblers and lucky horses bank on tokens
- In a short thinking economy, one when all you have to sell is an algo, only vultures come and “invest”
- There’s no money in content unless you can make it transactional.
Let’s talk about investing.
Re-#3: I will be happy already to know how much actually came in and didn’t again leave. Even if crypto-angels. @abh12345 ?
Addendum: I would invest in Steemit Inc. I think they have correctly identified the wrongs in the otherwise beautifully designed alternative economy
It is good “one” isn’t here anymore and now we have a long approach to things.
Yes, last year has damaged potential and a lot of work is required to get momentum again but... great times ahead.
As someone who has spent much of his career in content I can't agree with 1 and 7, although if you wanted to change that to "there's not nearly enough money in it to make Steem operate at this level with this number of users" that would be more accurate. Steem is doing weird and interesting new things with content monetization and I don't pretend to know where that will go, though.
Show me who's trying to raise any. @sndbox maybe does, I'm not totally clear on their model. @originalworks kinda sorta in a sideways fashion? People here seem to think money is just going to show up. Why would new money come into a place where nobody knows how to write a pitch? We need to fix that part first.
Which is pretty much the point of the post. (I would change it to "teams with plans" though.)
If you’ve spent swathes of your career in content and disagree with 1 and 7, then you forget that most likely all content you’ve capitalized on was transactional. Even if ads.
Steem currently doesn’t have that “transaction”.
Preaching to the choir. I think I had made it obviously clear with those 7 points that we are on the same wavelength. Unless of course your “transactional factor” is social “guru” capital in which it is important here that you maintain the lead. Which, again, is transactional.
Profile building is transactional. But... only few can capitalize on that social capital.
I do like that you raise ‘not nearly enough’ but that’s not an issue right now. Right now there’s more than enough in the rewards pool. Especially for the content created at this point. But there’s not enough to welcome the whole “blogging industry”. There’s not enough to replace pay all writing gigs advertised on craigslist. And most definitely not to pay the rates some above average freelance writers earn online and want to continue earning in the race to the bottom economy that is the globalized internet.
The next two years will be interesting. Not merely interesting but also an eye opener, reality check, and definitely absolute disappointment to many now on Steem when they realize what’s going to happen and it excludes their own “blogging utopia”.
Sndbox is a circle jerk. It’s guaranteed upvote buying.
Steemhunt may jump a surprise (of the apps currently active). Maybe also Tasteem. I have reservations about both though, not because of anything app or team related but because of... “on Steem”.
Addendum: plans are “irrelevant”. Drive, insight, and ability to #flearn matters. Yes, plans matter but more often than not plans are built on assumptions. I’m lean, I need validation. Plans don’t do that so I need brains, open-minded brains with acceptance that most assumptions will not be validated and the roadmap will more often than not include at least 2, maybe even a third pivot.