The CFO only started in August (IIRC), after the opportunity to accumulate some years or runway.

While that is a sad coincidence, the timing of a CFO fits in any regular startup. In fact, Steemit may have recruited one before any usual progress already. A CFO normally comes only in the later stage before B-round, often early after the B-round even.

Most companies don't reach that stage before 3-4 years. The B-round is the most difficult of all to achieve and thus while the title's question is valid... the CFO was there but they only started after the golden opportunity. That was unlucky timing but not a poor decision in itself.

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