I found your video on YT, trying to find what is new about steemit there. Video is very good. I wrote about the same thing - lack of business model - few times.

I think, your trick with title of this post didn't work well. Steem is not and never will be (with current source code) a Ponzi, because it do not require pay any money to be able to earn money.

In worst case scenario, Steem can be just a bad investment for investors.

Nevertheless, you are right... finding business model will be critical at some point.

I would be happy to read more your content about problem with lack of business model - but please, do not call Steem a Ponzi, because it is not a Ponzi.

If you call Steem a Ponzi, you would have to call Facebook, Twitter and YouTube a Ponzi as well. Investors are aware, that they can invest in platform, but every social media platform right now have cost:

• infrastructure:
  • servers/office in case of Facebook
  • miners in case of Steem
• employees which increases value of a company
  • all kind of developers in case on Facebook
  • curators and content creators in case of Steem

Employees of each social network are paid - that is normal to pay your employees. But if you will use all your money from investors for paychecks, they your company will bankcrupt - but this still has nothing to do with a Ponzi. This is just like companies works - centralized or decentralized - this doesn't matter.

PS. Upvoted, Subscribed.