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Two things:

Pg. 2 of the Schiff memo claims that the FBI only became aware of the contents of the Steele dossier in September 2016. That appears to be a lie. My understanding is that Steele was feeding this info to the FBI as he produced it. The FBI was aware of elements of what eventually became the dossier from June/July 2016.

The Schiff memo has one piece of real news: again on pg. 2 the memo claims that by September 2016, the FBI had “...opened sub-inquiries into [redacted] individuals linked to the Trump campaign: [redacted - but apparently naming those individuals]...and Carter Page.”

If the FBI was spying on multiple members of the Trump campaign, the FBI needs to name those people and explain why.

Pg. 2 of the Schiff memo claims that the FBI only became aware of the contents of the Steele dossier in September 2016.

Actually, it says the "closely-held investigative team" didn't become aware until September. The implication being that other parts of the FBI may have been aware.

In Erik Prince's testimony before Congress' HPSCI in November of 2016 he claimed to have been illegally surveilled and unmasked and the information from that surveillance and unmasking was illegally leaked to the Washington Post, where a personally damaging article was written. It would appear such surveillance was undertaken because he appeared at Trump Tower during campaign season, even though he was in no way affiliated with the campaign.

The SIGINT was verified by active duty IC personnel as spying on and unmasking him without a FISC warrant.

We can carp about what the FBI's use of the Steele dossier did to damage Trump, but another untold part of the story is how far and wide the net of associations was cast (six degrees of Carter Page), how many times inappropriate unmaskings were done and to how many undeserving or not-clearance-qualified recipients of such data there were.