"The only conclusion I can make is that warnings were not heeded."

I'm an accountant and CPA, and I so agree with you on this one remark. Not only were they not heeded, they were not even known or anticipated. I am not one to get involved with numbers when it is "not my job" and the numbers are not to be found here in any case.

But this revelation by @ned after so much silence has me very worried for the future of this place. I have never been sure of it, this recent communication makes me feel much worse.

Back in accounting school, a prof stated that when the focus changes from growth to cost cutting, look for the business to fail soon after. I then saw that exact process in many places I worked over the years as well as at least 5 other social media platforms that have failed while I was on them over the last 8 years.

I hope steemit bucks the trend, but I don't feel hope. For now I just keep posting and trying to stay active with my other platforms.