I am interested hearing the view from 70% of Steemit Inc. Employee that was recently laid off? What you think about STEEM?
I read about that after I saw this question. I think this is a positive move for Steem and Steemit. Steem Inc was burning way too much money and they assumed the price of Steem would keep going up.
But that didn't happen. Instead, the opposite happened and whales started cashing out. This led to a huge dump of price.
Now that Steem is worth around 35 cents, Steem Inc can't sustain their company anymore. So, they decided to fire 70% of their employees.
I assume this 70% doesn't include core developers who are integral to the development of SMT.
So, this move is positive for Steem in the sense that their company can keep on running with low funds for a year or so.
After which SMT will launch and it is expected to increase the price of Steem significantly. I am seeing this positively because it looks like the team is sincere about continuing development on Steem.
Wow, you got $44.46 for answering my question. That is outstanding.
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