The amazing concept and ideas of Steem, make it unique in the Crypto world. The Steem currency being attached to a social media site that wants to reach out to mainstream users, brings a unique set of issues and a clash of cultures to SteemIt. It is an interesting clash, I identify as a newbie to Crypto, but I have a background in Startups and Technology. It has been very interesting to try and get my head around the concepts and even more so the culture of Crypto.
This crash of cultures is likely to bring change. Most of the time change is not pretty or even smooth, it often creates clashes and stirs up discontent and fear. As someone who is fresh out of the Corporate world and mainstream investment instead of Crypto Trading, the "rules" of this Crypto world seem odd and sometimes go against all that I have learned.
Do not kill the messenger, I am trying to explain a different mentality.
Different views on founder compensation:
In the world I am from it would be beyond a scandal to raise funding to start a business and then have the top people with in the Corporation take the initial investments out before the company is developed and stable. Although a salary would be allowed, it is hard to figure out how much compensation is being consumed by the "leaders" of the company. Does this matter? (Your background probably impacts your opinion) In other words it is not right or wrong, it depends some on where you come from.
In Crypto, this seems to be a widely accepted practice. This seems to be how people expect the founders to get their investment out. However, to me it seems like short term thinking which works when there is a new "coin" introduced often and the life-cycle of a coin with no real meaning, means you take your money while the token is hot. However, SteemIt, is a new concept where there is a value attached to the token, the platform and it's on going success. We are not waiting for a pump and dump value increase, we are looking hopefully towards the future and all of the potential that SteemIt brings to the Steem currency. I am not saying that my perspective is the correct perspective, I am just explaining how it looks to me.
Road Maps, Company Plans, Future Development and More:
In mainstream investing you evaluate not only the potential of a company, but the success of it's founders, it's business plan, and how they are utilizing assets and liabilities. You review the client base, the Sales Team, and you review the business quarterly to see how it is progressing against the last set of goals it made and published.
Here it seems there is an attitude that you don't need to have information as part of a decision for investment. Again this part of the culture is confusing to me. I am not here criticizing or being negative. I am still trying to understand the investment culture of crypto in general and especially Steem.
I think the founders can be incredibility proud they built a platform on a block-chain, attached to 3 types of currency, that has created a clash of cultures, and may be the biggest break out crypto currency ever. (No wonder it can be confusing at times)
It feels like a new frontier, wild, untamed, sometimes not pretty, and completely lacking a map. It is interesting, untapped, and I am excited to participate in the journey. Now is the time to figure out how to mesh, and how to get this project headed for the mainstream. One of the ways we can head in that direction is to start talking about our view points, where they came from, and trying to understand other ways of thinking.
Do you feel the Culture Clash? In what ways?