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RE: Forget about making money on Steemit. For now.

in #angelinvestment8 years ago

What would you advise to "think critically" about investing?

To start with, id ask myself if maybe there's a reason, aside from being born petty and motivated by greed, that the whingers (should not be a word) for whom you have so much contempt maybe have a reason for their dissatisfaction.

On a platform where one of the biggest problems is that it leaks userbase like a sieve, don't you think just attributing dissatisfaction to bad genetics is maybe just a little counter productive.

then maybe rethink statements like this

From day one, Steemit has been profitable to its investors, the holders of Steem Power.

because aside from being patently false, its more than a little insulting to people who bought in (rather than ninja mined their way in) and have taken a bath since.

Then maybe rethink statements like this:

Ned Scott & Dan Larimer have magnanimously invited anyone to join Steemit on the ground floor.

Because its also patently untrue. The people on the ground floor were ninjas. And dan wrote a blog post about how clever it was to keep most people off of the ground floor. At best, ned and dan invited any investor to join on the second floor. An invitation the acceptance of which resulted in a pretty significant payday.

Which is the fundamental problem with your whole thesis. You want users to stick around and accept not making a profit during what you represent as a nascent period of corporate development where no profit is realized by the organization at all, but whats really a period where significant profit is realized by a very few, at the expense of most users participating for free.