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RE: Vlog 376: Steem inc. you need to be more clear if you want to restore confidence.
Having no choice but to take these steps because you forgot to build a war chest in good times for bad times is not great.
Rebuilding and focus on the core of the business + revenue is key now. That's why I am advocating for a fast and clear plan of action.
I do think they build a warchest. But the price dropping from 8$ to 30 cents (instead of 1$+/-) with no way of knowing that it won't drop further, will reduce this war chest pretty fast.
That's probably why they decided to cut all costs.
That's a fair point.
I am Godsmacked at what appears to be a lack of hedging against a crypto black swan event by having a budget for the current year and upcoming year, and having those funds in fiat +10% in a bank account. The only explanation I can see for this would be naked hubris.
They still seemed kind of shocked during the last Live Interview but it seems like they are coming up with a plan now @exyle.
I encourage @ned and @steemit to continue with the Live videos and to update us with their progress and plan of action.
Hopefully they aren't counting on prices remaining flat since another sell-off is still a possibility.