(IJCH) Steemit lays off close to 70 percent of its staff!
(IJCH) Steemit lays off close to 70 percent of its staff!
IJCH - Inside JaiChai's Head (Meaning: My Warped, Personal Opinions and Musings)
From the Author:
Salutations.
I am JaiChai.
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Steemit lays off close to 70 percent of its staff!
Blockchain startup citing the prolonged bear market for cryptocurrency.
In a video address posted to YouTube Thursday, Steemit CEO and founder Ned Scott said:
“While we were building out our team over the last many months we have been relying on projections of basically a higher bottom for the market and since that’s no longer there, we’ve been forced to lay off more than 70 percent of our organization and begin a restructuring.”
See this video:
"Steemit Update"
I'm still in shock.
How are you guys doin'?
By JaiChai
Really Appreciate You Stopping By.
Truly hope to see you again!
And if you liked my post, kindly Upvote, Comment, Follow, and ReSteem.
About the Author
Believing that school was too boring, he dropped out of High School early; only to earn an AA, BS and MBA in less than 4 years much later in life – while working full-time as a Navy/Marine Corps Medic.
In spite of a fear of heights and deep water, he performed high altitude, free-fall parachute jumps and hazardous diving ops in deep, open ocean water.
After 24 years of active duty, he retired in Asia.
Since then, he's been a full-time, single papa and actively pursuing his varied passions (Writing, Disruptive Technology, Computer Science and Cryptocurrency - plus more hobbies too boring or bizarre for most folk).
He lives on an island paradise with his teenage daughter, longtime girlfriend and three dogs.
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I am going to buy on the 1st. That is all that ment to me with the layoff
Just bought more...
Namaste, JaiChai
Every next December is even more depressive.... (by design)
I still do believe in Miracles and in true, honest love, that people can give to each other every single day! ;)
In the legacy markets, this IS THE TIME to buy Steem and SBD!
Why?
If a venture survives fine when the fat is let go, the entity becomes more vaulable - in spades!
Namaste, JaiChai
As a business owner, you should always consider that the price could drop. They should have forseen this
Feel bad about delayed SMTs. But I'm pretty fine because STEEM has too much going for it to become a failure. If anything, I'd say buy more STEEM.
I just did!
This is like a major bargain.
Namaste, JaiChai
Oh very bad news
On the contrary, if you believe in it, it may be wise to buy more.
Why?
The fat has been trimmed.
Namaste, JaiChai
It's stunning, but it's kind of like owning a stock. It can go up. It can go down. You either have the stomach for it or you don't. For the first time last week I bought Steem, with actual currency. And I'm going back today. I love the platform and I think there's a good chance Steem will appreciate in value. Putting my money on it. But only money I can afford to lose.
Hey there @jaichai :) I did see that, but what a perfect opportunity to buy buy buy :)
This isn't surprising. The entire crypto ecosystem has gone way down more than expected. We're still not sure if we've found the bottom. There has been way too much optimism based on a blip of a bull market last year. A huge blip, but a blip nonetheless.
Markets go up and down. Ebbs and flows. These are natural currents. The companies that ride this wave successfully stand a better chance of coming out on the other side stronger and more valuable. We can hope that Steem, and Steemit, is one of them.
Crypto price high the fat get thick, laziness sets in, we get no progress. Probably good.
Ya this was a bummer to hear but I get it not being able to earn a sell steem for very much isn't going to allow you to pay people