Steemit, Inc. What is the business relationship with SteemIt? Normal Questions in a New Frontier. by whatsup

accountability · @whatsup · Nov 20 '16 (edited)

$0.34

Steemit, Inc. What is the business relationship with SteemIt? Normal Questions in a New Frontier.

<html>
<p>As an investor and potential future investor of more money. &nbsp;What accountability does SteemIt, Inc. have to the investors of Steem? &nbsp;<br>
<br>
Do they have a responsibility for transparency? &nbsp;Why or why not?</p>
<p>Road map? &nbsp;If they fail, is SteemIt dead?</p>
<p>The plan calls for mainstreem adoption, but does it call for mainstreem criteria? &nbsp;(founder investment, business plan, past success, all of the things I would consider in a mainstreem investment. &nbsp;(yes, bad spelling intentional.)<br>
<br>
I want to see a road map! &nbsp;I want a business mission, an organizational flow chart, a plan, a time line. &nbsp;A road map... &nbsp;A reason to invest. &nbsp;(Oh no, whatsup, this is Crypto.) &nbsp;Well, let us not pretend it appeals to mainstreem.<br>
<br>
@dantheman @ned - does your company report to the investors of Steem or not?</p>
<p><img src="https://s25.postimg.org/yzi6ppsxb/steembill.jpg" width="908" height="500"/></p>
<p>I am not saying it doesn't ---- I just don't understand the relationship.</p>
</html>

👍 fyrstikken, wang, masteryoda, kevinwong, joseph, teamsteem, krnel, xeroc, inertia, anonymous, klye, doitvoluntarily, norbu, kendewitt, biophil, technology, juanmiguelsalas, steve-walschot, blakemiles84, hello, whatsup, hilarski, svamiva, jparty, fufubar1, carlidos, anasz, pairmike, seth-krings, shadowspub, giantbear, world, arisa, trans-juanmi, tracemayer, sunscape, auction, albertogm, bitcoinparadise, tarindel, runridefly, brendio, crok, lamech-m, phenom, michaelx, the-ego-is-you, murh, hms818, voteinterestpool, drac59, charlie777pt, sethlinson, jsantana, philipnbrown, raymondspeaks, missk, applecrisp, steem-meme, nulliusinverba, psych101, creat, friendly, hemp, and 52 others

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@norbu · Nov 20 '16

> @dantheman @ned - does your company report to the investors of Steem or not?

I guess they are bound by law to do that, but you have a point! 

Upvoted as I feel a good answer to this question shall boost confidence of the investors, and in the community as well.

👍 whatsup

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@whatsup · Nov 20 '16

I would love to see any answer.

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@missk · Nov 20 '16

It is maybe an idea ahead of it's time and they don't know how to justify it.  Which doesn't mean it doesn't have value?

👍 whatsup

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@whatsup · Nov 20 '16

Well, my friend, thanks for giving it a shot.  Wil be a long time before I invite others.

👍 missk

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@svamiva · Nov 20 '16

>As an investor and potential future investor of more money.


@ned have already answered to that before :
>Not sure what you're saying. But no one in the 'community' is my investor unless they are on the Steemit Inc cap table. 

From here
https://steemit.com/steem/@officialfuzzy/steem-economic-changes-update-officialfuzzy-s-thoughts-and-concerns

👍 whatsup

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@whatsup · Nov 20 '16

As an end user, I am expected to find every answer they have, instead of them communicating to the potential investor?  Not sure what you are saying?

👍 whatsup

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@svamiva · Nov 20 '16 (edited)

My understanding of that answer is : "Steemit inc is just an *end user* of SteemIt, exactly as you and me, maybe just having a bit more money" )

👍 whatsup

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1 reply

@whatsup · Nov 20 '16

You are right that does answer my question.  I am not on SteemIt Inc. Cap Table.  Of that I am sure.  Also, I seriously doubt I ever will be.

👍 whatsup

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@svamiva · Nov 20 '16

I think any other approach might just results in people taking legal action against Steemit inc

👍 whatsup

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1 reply

@screenname · Nov 20 '16

Re: Steemit, Inc. What is the business relationship with SteemIt? Normal Questions in a New Frontier.

<p>This post has been ranked within the top 80 most undervalued posts in the first half of Nov 20. We estimate that this post is undervalued by $4.69 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-nov-20---part-i">The Daily Tribune: Nov 20 - Part I</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
<p>If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.</p>

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@timcliff · Nov 20 '16 (edited)

Steemit, Inc. is a privately held company, and they have no _obligation_ to the community or SP holders. They can chose to run their company **any way they want**, and they do not _have_ to do anything we say.

There are good arguments to be made that it is in their best interest to listen to the community and follow our suggestions. There is a difference between a suggestion and a demand though. We can suggest.

[Edit] Also, to clarify - as investors, we are not investing in Steemit, Inc. We are investing in shares of Steem Power (or STEEM/SBD coins) which give the powers defined by the blockchain rules.

👍 timcliff

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@whatsup · Nov 20 '16

Got it thank you for clarifying.

👍 timcliff

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@timcliff · Nov 20 '16

Welcome. I hope what I wrote didn't seem like too much of a 'rant' :)

👍 whatsup

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