So my prediction about a competent businessman taking over Steemit inc. has come to pass, Justin Sun CEO of Tron has bought ex-chairman's Ned Scott's stake and is now a majority shareholder, happy days, let's start running the company properly and seeing Steemit prosper, right?
Nope, because it appears we are fudding all over place, with lots of bizarre claims being made and a soft fork around the corner, so let's dive in and see what all the fuss is about.
Embracing The FUD
Fear Uncertainty & Doubt is something that comes hand in hand with the crypto market, people who spread it are often called 'fudders' and right now we have an awful lot of people fudding about the takeover by @justinsunsteemit of Tron. In my mind this is madness, Steemit inc. has been run awfully these past four years. It started as a great experiment, but bad management decisions and a complete lack of awareness in regards to how to run a successful platform has seen the Steem price plummet, 70% of employees being sacked, and a complete disregard to the original Steem whitepaper.
Make no mistake people, if Steemit had been run properly, the site would have come out of beta after about 6 months and not 3 years, there would be no Google ads on our posts and the Steem price would be buoyant.
Enter Justin Sun, an entrepreneur who started Tron about a year after Steemit, someone who understands business to the point that he has already secured a deal with Samsung, one of the largest companies on the planet. In addition to this he has attracted 10 million users to the Tron chain.
Think about that for a second, even if 90% of the accounts are inactive (which they aren't), it still dwarfs Steemit's user base. Why? Because he has some kind of clue about how to run a business, beyond just code.
So Justin is clearly a savvy businessman, you don't get deals with companies like Samsung by acting like @ned and mumbling about SMTs for almost four years without producing anything. Or taking three years to come out of beta and still not have a search function that works properly.
No, Justin is better than Ned because he is creating a thriving ecosytem with millions of users and mega-deal partnerships. Which is why it beggars belief that people are attacking him right now.
Oh no! He's going to destroy Steemit!!
Yeah right, because that's what savvy businessmen do, they buy stuff just so they can make it worth less . . .
Somebody who is prepared to pay money, just so that they can have dinner with Warren Bufffet has more business sense in his left pinky toe, than Ned has in his entire body, in fact more than the entire Steemit inc team.
Soft Fork 22.2
As if to highlight this lack of business knowledge, the top Steemit witnesses (who technically are not part of Steemit inc.) have almost unanimously (with a couple of notable exceptions) voted to fork Steem so as to stop Justin accessing the funds which he legally required. Their reasoning behind it goes something like this;
Ned has promised not to touch Steemit's 75 million Steem, and by selling it to Justin he has broken that promise. We don't know what Justin intends to do with this Steem, ergo we are preventing him doing anything with it.
Erm guys, hate to tell you this but Ned's promise means nothing. He did not write that promise down and turn it into a legally binding contract, he simply made an empty promise to you, and just like the rest of his bullshit, you swallowed it. The reason being is because anyone who disagreed with him, was voted out of the top 19 witnesses, so it paid to show him deference.
However, he's gone now and you have a new boss, and I don't think it's wise to piss him off. If he wanted to, he could have you all crushed legally. Steemit inc is a private company, it is not some non-profit hippy dippy love-in. It is a company registered in the United States of America and is therefore subject to her laws.
A Sunny Future
When all is said and done, Justin will set about making Steemit the great platform it deserves to be, he will secure deals for Steem in the same way he has done for Tron. He'll run this place like a proper business, and I'm sure in a year's time this place will be unrecognisable from the shambles it is now.
It might sound a bit harsh to say that Steemit is a shambles, when so many good things have been done. However, I challenge you to try and use the search function on the site, or in the new communities section. A site's search function is just so damn basic, so for it to still not work after almost four years is laughable.
The fact that a site that literally prints money has to resort to Google advertising to raise funds, is also shambolic. The fact that a managing director is appointed and given zero budget is shambolic.
Justin has already shown that he understands how to grow a company beyond the crypto community and add value to millions of lives.
In my mind, the future is bright, the future is Sunny.
WHAT DO YOU THINK? ARE PEOPLE CORRECT TO INSTANTLY MISTRUST JUSTIN, OR ARE THEY SIMPLY DAMAGING STEEMIT AND THE STEEM PRICE?
AS EVER, LET ME KNOW BELOW!