I agree with you on this one. Investment is a huge part of the ability of a startup like Steemit, Inc to survive. Having a financial war chest is essential. Under Ned's watch, the finances of Steemit must have been badly neglected. A platform with some tens of thousands of weekly active users at best had a market cap of almost two billion dollars at best. Steemit, Inc must have wasted a shitload of money during the bull run. They've been making a lot of progress in the last year and managed to generate enough ad revenue to stop auto-selling for a month this year. What they should've done during the bull market when they were awash with money is to hire the best possible talent to work on the core blockchain software and do their best to prepare for the inevitable bear market. They have got much of the job done by now but now we have to pray that the new bull run we're at an early stage of will save our asses.
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