yeah, we should also respect them though as shareholders and hope that they perform more responsibly in the future, these are basically steems ceos.
I'm not justifying their actions I'm just saying its voting shares after all they help decide where the dividends go.
Yeah, and they're CEO's that the board can never vote out of office.
There is a reason that there are laws in place in corporate structure to prevent the activity that is happening here. Investing 10x what they have isn't a reasonable option because that is millions of dollars that pretty much no one has.
A director of a corporation can have 99% ownership of a company and bleed the company dry to fill their own bank account and what happens? Does someone need to buy their shares from them to make it right? No. They are removed from their position in the interest of the 1% of shareholders by a governing authority. We don't have such a governing authority, so this all comes with the territory, but it doesn't mean it's not going to do severe harm to the platform.
Calling them CEO's is not really accurate, because CEO's exist in a world where they are held accountable by a board of directors, by a governing authority, or the other share holders. Steemit whales are held accountable only to themselves and other whales.
the problem seems to me that the more power they accumulate, the faster they accumulate more yet. the rest of us somehow doing something about it seems unfeasible.
Abuse is abuse, whether they created it or not.
:D:D:D Steem CEOs :D:D:D. They found that with ~1million$ investment they can profit something around 4million$ a year. Incredible ROI. And they are cashing out.
Better move quickly or after the bubble bursts you might be left with monopoly money. Or u think that the current steem ecosystem valuation of 1.3+ billion $ reflects reality? Or that this nonsense here attracts any serious investors?
Nah, what that group or individual managed to do is pretty awesome.
And here is how you can replicate it:
Post ten times a day on astrology. That topic attracts a lot of crazies. And you always want to have crazies on your side. During that time start creating an army of bots, cus a robot army is even better. Then buy enough steem power so you can make a dent in the reward pool. Investment also has to be large enough so the platform creators leave you at your business. Nobody fucks with a person who just gave them almost million dollars. Now, when you feel the time is right, start printing money. If somebody opposes, direct your army at their direction. But you have to move fast because when the platform fails, your initial investment might be in danger.
gg ez
It makes sense actually.