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RE: How should Steemit Inc decentralize their stake?

in #steem3 years ago (edited)

I think it would generally be helpful to get an update on the Roadmap 2017. I've heard that Steemit Inc's working on an announcement, so I guess we'll be informed shortly. According to last year's roadmap the community feature was supposed to be launched in Q3/2017, and since it was one of the most celebrated parts of the roadmap, an update would be highly appreciated. I guess the idea to focus on SMTs completely changed their overall strategy, that's why most things that were planned for 2017 haven't been implemented yet. The Steemit app is just one more product to mention here.

Communication is key :-) Thanks for bringing it again into spotlight.

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I get the sense that there would be no more long-term roadmaps. It's obvious they couldn't hit many of their key 2017 targets, and in this world it's pretty much a vague guess. No one's done this stuff before (i.e. social network on a blockchain) and they have faced many challenges along the way. It makes sense, of course, and is a part of maturing as an organisation. After all, you don't see Samsung telegraphing their plans for Galaxy S10 now. They'll only announce Galaxy S9 when it's done and ready to ship soon.

Thing is that stakeholders of Steem have actually a right to know what Steemit Inc's plans are since that's what they're actually investing in. I'd rather compare it to a classic relationship between a stock corporation and their shareholders than a corporation like Samsung and their B2C end consumers who have actually no influence on the business at all.

I really think transparency is the key driver to trust here, and trust is fundamental for investments.

They might give less details on their plans, but I really don't believe that they should try to sell a black box to their partners.

On that note, Samsung doesn't telegraph concrete plans to their shareholders either, till they are confident about it. Samsung shareholders will know Galaxy S10 is in the works for 2019, but they won't know the exact price, release date and feature set, because Samsung Electronics themselves don't have that information yet. Anyway, all of this is irrelevant :)

There should absolutely be transparency, but only about things they themselves have knowledge of. There's transparency in their GitHub - it's easy to follow the development of Hivemind (the backend that drives Community) on GitHub. It's fair to announce that they are working on such a feature, and publish the specification (which again they have done to GitHub). However, saying something like "Communities will be ready Q3 2017" is naïve and self-defeating, and causes wholesale disappointment and lack of trust across the board. Instead, give out concrete details, including release dates, when you actually have the necessary knowledge to be confident about such a statement. Traders and shareholders alike will have far higher confidence in an organisation that delivers their stated goals on time and with the announced feature set.

Instead, give out concrete details, including release dates, when you actually have the necessary knowledge to be confident about such a statement. Traders and shareholders alike will have far higher confidence in an organisation that delivers their stated goals on time and with the announced feature set.

I fully agree on what you said here. Also actually nobody needs so concrete release dates. Knowing that they're giving priority to certain features or projects already provides a lot of confidence. In the end it's the direction we agree or disagree on and the overall vision that might motivate us to invest or not.

Thanks for the valuable talk :-)

There is transparency if you look for it. Check out github to have an idea what they are doing. You can see what part of the SMT's is already developed and what they are working on.

https://github.com/steemit/steem/projects

If you are a developer then this might be of help. If not (and that applies for the majority of these 370,000+ active users), then it won't.

Interesting response.

I kindly invite you to watch the interview between David Pakman and Andrew Levine where Andrew (who is part of Steemit Inc - what I actually don't need to mention) says that you can follow the whole process of all these projects on github but a normal person would never understand what's written there.
Timestamp 04:47 min:

I really don't believe that your purpose is keeping the majority of the community out of your communication.

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