One of the top VC's in the world, Fred Wilson of Union Square Ventures, early investor in social media behemoths like Twitter, Foursquare, and Zynga, said the following in his blog about Steemit:
"I think Steem is a really interesting experiment that may turn into a really nice business. The Steem founders are experimenting in multiple dimensions at the same time. They are trying a “paid” model vs a “free” model for curating a content discovery engine. That’s interesting. They are using blockchain technology vs some centralized system to build all of this. That’s interesting. They could finance this business via their users vs VC or something else. That’s interesting. And their users can participate in the value creation, if this turns out to be valuable. And that is interesting.
I am rooting for Steem."
Along with fellow top VC, Marc Andreessen of A16Z, Fred has been an early and vocal supporter of Bitcoin and Blockchain technology, and has invested in companies such as Coinbase and OpenBazaar.