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What will be the challenges that Steemit Inc will face they decided to move their HQ out of US?
There are a lot of suggestions that was brought up about Ned's post about Steemit Inc's reduction of employees, one of which is relocation. Should Steemit Inc consider this move?

I suppose a question before the one posed above might be: What would be the advantages of moving Steemit headquarters out of the U.S.?

If we're looking just at cost reductions, then there would need to be some kind of cost benefit analysis done to determine whether moving out of the U.S. is actually that good an idea or not.

The fact is, Steemit Inc. already moved its base of operations from New York to Texas, in large part, I would assume, doe to higher expenses, taxes and fees incurred in New York relative to Texas. In general, the cost of living in Texas is considerably less, as well as the fact that there are no corporate or individual income taxes in Texas.

So, would moving out of the country reduce overhead expenses even further? And what other expenses, such as taxes, might increase if they moved? My understanding is, even if everyone moved to the new country, the U.S. would tax anyone who was a citizen, even if they're working abroad, along with any corporate taxation that might occur. Depending on where Steemit Inc relocated, there could be more taxes to pay to the local, regional and national taxing authorities, too.

The next thing would be the cost of the move. There's going to need to be similar or better infrastructure wherever they go, and if they don't plan to pack up and ship existing furniture, office supplies, etc., all of that will need to be liquidated and then repurchased.

And then, last but not least, how will that impact the remaining staff members? Do they have families? Will they all want to move? Will Steemit Inc pay for relocating? It's not out of an ordinary for a company to do that, but if they don't, then that would put the burden on the employees. If some decided they didn't want to leave the country, then that would require hiring more employees. Some are more replaceable than others, and I would guess, even though it's been around for a while now, that blockchain engineers, particularly ones versed in STEEM, are harder to find.

So, you've got a talent resource pool to consider, too.

In reality, before moving oversees, I would examine the needs of having everyone occupying the same space, versus working out of their homes, and then reimbursing for certain things or bumping up salaries to cover it. I'd even look at changing workers from full-time employee status, with benefits, to contracted labor, to further caught costs. Again, a bump in salary might be incentive enough to keep staff on while still substantially offsetting some pretty hefty costs.

There is always going to be a baseline cost of doing business that you really can't go below before the quality of the product or service begins to suffer. Before Steemit Inc leaves the country, they should continue to look at the cost savings they can incur where they're at, or if needs be, within Texas, and then actually look at sources of revenue that make sense, which could be reliably expected and projected. Moving out of the country should be much farther down the list of things to do.


I don't see tremendous challenges moving Steem Inc headquarter out of US.

In fact, I don't see why a physical headquarter is needed. Most cryptocurrency firms like Steem Inc can be decentralized.


They may have a headache when they discover what fast internet is.