spending should be mandatory, the only decision is what to spend on.
This is the only one I disagree with. Why should spending be mandatory? Once a service captures a niche it should focus less on growth/features and more on efficiency.
(aside: I upvoted your post but see a red downvote?? is my vote on the blockchain up or down?)
In the case of Steem, there is a constant need for new content because old content decays in value very quickly. Here we assume that new content is worth 10% of the market cap per year.
(aside: that issue will be fixed soon, don't worry it counted as an upvote).
Sure, content is a cost of business for Steem, but I interpreted it like you were promoting forced R&D spending.
Which could still work if you see Amazon as a prime example...
Should have been an upvote...