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RE: Steemit Vlog #3: Facebook Manipulates Its Users, Steemit Doesn't (And Can't)
Perhaps @dan or @ned can comment on this, but I think one of the main design principles behind Steem (as opposed to BitShares) is that there is a company behind it (Steemit Inc) which hosts steemit.com, maintains the blockchain, and basically has full creative control over the platform. This is as opposed to BitShares, which lacked such a well-defined control structure (or even worse, Bitcoin, which can't even agree whether to tweak a magic number to facilitate scaling).
From what I understand Steemit is opensource and crowdsourced meaning it is built for and by elected users. I'm sure they do have some legal entity involved, but it's nothing like the type of corporations I'm talking about. It's role is definitively small and intentionally constrained by design of the framework. But be sure to let me know if I'm mistaken. It might have been more technically correct to say that there's no corporation LIKE the corporations behind facebook and google, but I think it is still largely true that there is no "company" (as we typically think of it) behind the network. For example, it is not at all the case that there is some shady corporation scheming behind the scenes to figure out how to make money off of us. There are only steemit users and people interested in Steem who are trying to increase the value of Steem. Open and transparent operations are critical and they are present here.