One of the top VC's in the world, Fred Wilson of Union Square Ventures, early investor in social media behemoths like Twitter, Foursquare, and Zynga, said the following in his blog about Steemit:
"I think Steem is a really interesting experiment that may turn into a really nice business. The Steem founders are experimenting in multiple dimensions at the same time. They are trying a “paid” model vs a “free” model for curating a content discovery engine. That’s interesting. They are using blockchain technology vs some centralized system to build all of this. That’s interesting. They could finance this business via their users vs VC or something else. That’s interesting. And their users can participate in the value creation, if this turns out to be valuable. And that is interesting.
I am rooting for Steem." Along with fellow top VC, Marc Andreessen of A16Z, Fred has been an early and vocal supporter of Bitcoin and Blockchain technology, and has invested in companies such as Coinbase and OpenBazaar. Read the rest of what he had to say here: http://avc.com/2016/07/some-thoughts-on-steem/ Fred Wilson image via Techcrunch Click on my username to follow or follow me on Twitter @_Kevin_Pham to be the first to see my posts.
He was later heard telling his assistant to go "power up" again...
He's a smart VC, he would have loaded up on SP BEFORE posting this on his blog ;)
I lolled
It will be interesting to see how VCs react to Steemit. Will they invest in it or the more likely try to create a clone of it. The ideal solution would be for them to create new businesses on the Steem blockchain. This will help grow the ecosystem. I guess we will see.
sweet!!!!!
BO: "but its like a swiss bank account in your pocket".
Everyone Else: Er... enough said.
Good read. Glad to see others backing steemit.
Very encouraging! One more support! And the alexa rank of steem is now lower than 20000 (19435 july 18)!
loved the article, informative and good to see someone 'big' supporting Steemit
I posted about this 7 hours ago... :D I think the Steem discovery/curation mechanism needs some work.
But anyway, Fred Wilson is an amazingly intelligent person, and I always gain a lot of insight into what he says. In my opinion, he is probably the most insightful, knowledgeable and objective person to have supported Steem publicly like this.
you posted in "steemit" , @kevinpham20 posted it in "news", that, and the timing will make all the difference (if you post it when half the subscribers from the US are asleep, you'll have much less visibility) .
I don't think that's where the difference comes from. Rather, @Kevinpham20 has an established presence, there is much more incentive to upvote his posts, because they're more likely to be discovered. I talk about this in the post I linked, I hope you give it a read and tell me what you think.
I think the fact that I provided context and background to the story, instead of simply copying and pasting the blog post, might have had something to do with it...
EDIT: I must sound really bitter. And to be honest, I do kind of envy your success. But whether it's because your post is better timed and executed than mine, or because you are already quite established (which really means that you put in the work beforehand, there's no shame in that). So congratulations, hopefully I can learn from you.
I do hope you will read my proposal linked above though, but that might be too much to ask. Enjoy your day.
Hi , yeah, to be honest, I didn't think about that , but you're absolutely correct, the bigger the whale, the higher the chances to be discovered. I'm sure that timing + right tag also matters, but I agree, the "whale factor" is very important.
I just read your link now , very interesting proposition, I really hope it gets picked up :)
No, it's not that. Posts from steem celebrities get much more attention, that is a feature of the current rewards system. Does not matter at all who was the first - votes would go to the highest bidder anyway :) So actual mechanics of finding good content is not quite working, yet, as it is much safer to vote for content from top authors, rather than for top content from an unknown author.
Exactly. This is a structure technology framework. There is a learning curve. Pay attention to the details and you'll do great.
This is interesting.
I saw your post last night @lightnovelist just as it was posted. I thought to myself. This is surely going to get to the top of trending so I should upvote it. Then it crossed my mind that this won't get as far as it could because the presentation isn't up to snuff. So, decided to not "waste" my vote.
The next thing that occurred to me was to take your story and spruce it up with pictures and make it presentable. But my inner sense of fairness took over and I felt dirty (literally and figuratively), so I instead took a shower and went to bed.
Pretty sure my minnow status would have kept it from getting anywhere, but lesson learned.
Sleep is for the weak!
Yeah I posted it too, it seems after yours but before @kevinpham20. He made $14k, you made $60, and I made $0.50. I think a lot of people will end up posting largely the same news articles, and maybe even read others and re-post them, hoping to get into that viral funnel better. But this is how Steem is going to go, especially if the rewards are so big.
Ironically the one that got the least amount of upvotes/money (you) was the one who put the most work writing original content in addition to Fred's blog post.
I noted that too. Getting into the viral funnel, which is a lot of luck, probably requires nabbing an early whale. You need to get the article in front of them somehow other than luck. Maybe a secondary market will open up for this in the future, but who knows. Wild west type stuff right now.
Yeah agreed... Along with the whole timing and luck thing, you've got to factor in the whales who are established and have much more of a following than someone newer who finds the exact same thing and posts it miles ahead of said whale posting. There's definitely a power dynamic that's been established, like with any new community or organization. As more people come in, the dynamics may shift.
Also notice the way the headline was structured on this post... including the use of caps and the qualifier of "HUGE NEWS". It seems like OP has experience with grabbing a lot of people's attention with just a headline. Details matter.
I think it's just doing what it needs to be doing at the moment. The site is pretty new & when money is involved, it's like a whole different game. I didn't even know about this site until someone told me "Hey upvote my steemit post so I can make money, and if it ends up blowing up you'll make money too". That was yesterday. I'm still getting a handle on how all of this works.
Definitely a learning curve here and not as easy as it seems.
Good Luck with your future posts!
Everyone I just asked Fred to join us for a Steemit AMA on Twitter:
https://steemit.com/steemit/@kevinpham20/fellow-steemians-i-just-tweeted-fred-wilson-to-join-us-for-an-ama-on-steemit-i-need-your-help-to-convince-him
Great News! Steem will take off from here!
Yep, Steemit is challenging VCs with a community based social financing. Steem BlockChain is putting together in a master piece and economic business model, a revenu business model, a currency policy model . This is a great experiment to watch and study. Paid vs Free social media.
This is awesome news, but remember to keep sober that Fred also endorsed Voat, which isn't doing so well. I like Steemit far better than Voat and I think it will be more successful, but it's good to keep in mind that famous VCs aren't always right.
https://steemit.com/steem/@blackmask/wow-fred-wilson-the-famous-venture-capitalist-today-published-a-post-about-steem#@andu/re-blackmask-wow-fred-wilson-the-famous-venture-capitalist-today-published-a-post-about-steem-20160718t232553767z this dude actually published it earlier.
hello
I'm going to be honest - I don't think anyone quite gets how powerful this platform is going to be if it works the way it's going. I mean, people are changing the way they are marketing themselves, their content and how they spend time to monetize said content. Many people live their life online, earning what they can from various ventures, JVs, campaigns, clients, whatever. Steemit being a low-cost platform, with Steem built into the product, it's game over if things go well. Hoping hackers, assholes and politicians (what's the difference, right?) don't fuck this up for us :)
Fred Wilson does not look healthy.
Just my 50 Steems,
holzmichl
This is great news. Looking forward how Steemit.com wil become a revolution. this is my second blog reaction (post ) here :-)
Steem is where it's at!
what is this
Congratulations, is a great post!
Do you like it?:
My God STEEM
https://steemit.com/steem/@blackmask/wow-fred-wilson-the-famous-venture-capitalist-today-published-a-post-about-steem
And here comes another post about this topic... This time with the full text copy and pasted.
:flip table:
All this does is make us all want to do the same thing. Just keep reposting what you see is making money for others until you score on one of your posts yourself.
Sucks! Nothing new, nothing interesting, rant...
I'm rooting for Steem - I can say exactly the same !
I am rooting for Steem too!!! Sucess!!
I agree with Fred Wilson that the project Steem will rise, but he already became very good business for their creators. The main reason for this is a synergistic effect which combines the energy of several areas, namely: pay model discover content, the use of blockchain technology, as well as the financing of the project through its users. I believe that the project Steem has a bright future!!!
Woow thats realy great news :)
Win over 70btc
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Blockchain technology is hot topic recently. It is expected more and more applications will make use of the technology. It definitely creates huge financial potential.
I love dogs but I also like to sit on steemit :)))
Thank you.
Please share these questions to objectively assess the competitive viability of Steemit: https://steemit.com/socialnetwork/@limitless/important-questions-about-the-network-effect-of-steemit
amazing :D
Very interesting information you have here
Coin could all overtake easily, it is really a good thing to blokcheyne, all promise to do something about raising money and pulled, and everything is done and went public with the finished product, the main thing that no problems with hackers) Fly to coin odnaznachno up IMW .
after I read his view I am more and more convinced that steemit could be really something in the future!
I totally agree! Hopefully we can get some more news coverage which should make Steemit go Viral!
good news 8]
heavy weights supporting steemit project, it is really promising, it can bring the project to the next level, manistream users
Full steem ahead!
Great to see people encouraging others to invest in Steemit - a great concept
Full steem ahead!
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Did you know? Pokemon and their evolution: https://steemit.com/pokemon/@shaydulla/pokemon
wow
Good information to know about. I think the awareness of steem is going to grow very fast it will be interesting to see if there are knockoffs in the future.
thanks for sharing...
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