Great publicity! Fred Wilson has posted some cool stuff before. I'm subscribed to his blog.

At the heart of Steem is a tipping system, called Steem Power, based on a crypto-currency called Steem. All of this runs on the Steem Blockchain.

Readers can buy Steem Power with Bitcoin and then they can tip posters who receive Steem Power.

He calls Steem a tipping platform, and implies that one has to buy Steem Power with BTC and then tip people. That's totally inaccurate.

Steem Power can be converted into Steem through a mechanism I don’t really understand to be honest.

Although, he admits to not understanding the details. Fair enough. I respect people more when they just go ahead and admit it when they don't understand. :)

So if you like the idea of Steem, and want to back this company, all you have to do is buy some Steem, some of which you might be buying from the Company. And if you change your mind, you can sell your Steem and move on.

Yes, unless you change your mind because you wake up one day and the value of Steem has crashed...