So, let me see if I have this right...
Your company mined, what was it - about 120 to 130 million STEEM or more? And you had been selling millions of STEEM this year since prices had been well over $2.
What happened to all of those millions of dollars, Ned?
You have nothing to show for it except a half-assed interface and some protocol changes that haven’t exactly gone well. Seems to me that any “reorganization” should include the CEO stepping down.
But I actually think this post is your way of announcing a STINC exit after cashing out your millions and millions of dollars. Your small team of developers and a few servers doesn’t cost tens of millions of dollars per year. There’s no point in blaming a “bear market” for having a lack of funds, considering that all of your transactions and STEEM prices are readily available for all to see.
The money is there. It’s the leadership and money management that has failed. The funny thing is - several people have been saying for a while now that this would happen...that nothing useful would ever be delivered and that you’d make your exit after cashing out a large portion of STINC funds.
Makes us wonder what the point of that ninja-mine was, since it was never really spent on development, onboarding, and marketing. Many other people have done so much more around here with a tiny fraction of both the funds and the dev resources.
You and your company should be embarassed and ashamed.
Happy Holidays people laid off but could delegate millions to sailor moon looking girls who had handlers writing for them...slow clap
Have fun with Zuckerberg , hear him and Sandberg really are chill AF
self-aggrandizement,,, Happy Holidays
hehehehhee
Would I suspect be an interesting calculation to make.
I have no reason to believe they are sitting on a pile of cash. The truth is even worse - they did actually spend all those dozens of millions of dollars, just with nothing to show for it.
Seems like closer to it
I wish I could resteem comments... I'd be interested in being able to do the math!
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He had to build The Bridge to announce he was laying off 70% of staff bro. The Bridge cost money, ask Captain Kirk.
I have nothing against Ned but this is very spot on. How such funds have managed to essentially disappear is anyone's guess right now, but it doesn't look good. Looking like poor management and use of time and money. Steemit should have A LOT more to show for it to be at such a scary point.
It's like watching a fancy rocket prepare for launch but only make it a few feet into the air.
I'm sorry you feel this way.
Our team does in fact cost many millions of dollars per year, even after these layoffs.
Infrastructure costs line towards $2MM USD per year. This is the most expensive website per visitor to run through the top 1000 Websites, if not much lower, by infrastructure costs.
People would pay monthy to access RPC nodes. They just don't know they will yet.
Just like people pay monthly for the Digital form of the New York times, or washington post, or LA Times? How many on line monthly subscriptions do you Pay For?
If you want to put it like that. I invest money each month in steem via hosting IPFS nodes. If we had more seeds, and software that enabled lower ram machines to do seeding (as far as the full steem nodes) then centralization wouldn't exist regarding RPC/API and steemit.com
I pay for internet access. I have tried monthly subscriptions before in the past, I will never pay another monthly subscription. (It was not a good experience). I do not see people paying for internet access, then paying other companies to look at their site. It has not worked well for newspapers, and on-line magazines, I doubt it would work for Steemit. Where are the monthly fees companies like AOL, Compuserve, and Genie now? Just saying I do not think people would pay a monthly fee.
If you pay for internet access, you can seed content. Run full Steem nodes and IPFS nodes. 1 Trillion USD has left the big "free/monthly" companies. Because they are unsustainable. The question becomes, why should i host your data? And the response should be from both sides, community.
I had a business plan and discussed it with many people to run nodes-as-a-subscription-service, but I also called all this platform mismanagement bullshit as far back as a year ago or more, and in the end, decided to run my business ideas elsewhere and in different forms, in more accomodating environments.
Ok... Why after several years of service this project is not connected with the "real economy".
You have thousands of users? Ok... Run Ads, what's wrong with that?
More important, you are printing the money, why you don't clearly tell/ foster good content creators? If we write something that will be the first page on Google Search (and yes, there are many examples from my community) it's the free advertisement for Steemit.
Order good authors, real pros - and give them something. If you left the whole thing on "free will" it will go nowhere.
Ha ha ha ha, I agree with your opinion. It's very pleasant.
I wonder if @ned get's the satire of this....
https://steemit.com/blog/@lucylin/these-rc-s-are-doing-my-head-in-comedyopenmic-39
Welp, we tried to tell 'em, David.
But they didn't listen.