Three reasons why Steem will fail

Steem comes with concrete, original ideas to improve how we appreciate content. Having said that, Steem is in it's infancy. 

If Steem fails, here’s my best guess why. 

1.  Steem may well be the new MySpace Social media is a trillion-dollar idea, at least. It’s an idea which has begun to realise its significant potential. But it’s not enough to have a great idea. Implementation is key, just ask Facebook. The creators of Steemit have yet to show us that they can provide an implementation worthy of the lofty aims of the platform. Which leads us to the next reason… 
2. Steemit is reinventing the wheel. The Steemit website, which for now is the main incarnation of the Steem concept is a very basic website that has a collection of articles. Much of the content is of a lower quality than we’re used to seeing on the internet from reputable websites. The exciting part of Steem is its method of monetizing content. Steem should work with existing platforms to reward writers and encourage quality content. 
3. Allocation isn’t fair Writers don’t earn Steem dollars in proportion to how many people like their content. There’s a complicated system that allocates rewards according to how many VIPs (“Whales”) like the content. If five hundred people read and like my article, surely it shouldn’t matter who those people are. I understand that it’s part of a mechanism to protect against abuse, but the talk of and pandering to “whales” isn’t classy.  People are less likely to join a club if they feel at a disadvantage from the start. Having said all the above, in my opinion Steem is an outstanding concept and I can see lots of potential. I intend to write my next article about how it could revolutionize a couple of industries that are long overdue some disruption.