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Why did Jed McCaleb leave Ripple to start Stellar


invest2lose
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14 minutes ago, kenrino said:

Now let's stellar and ripple reunite? That would be something!

Btw, I don't see any post from Jed on this quora, maybe the website is not up-to-date for me or am I missing somehting?

did you click on "all" below David's response?

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1 hour ago, GiddyUp said:

An interesting read, I'll have finish it later, tho, very lengthy...

http://observer.com/2015/02/the-race-to-replace-bitcoin/

May be a great article but:

Quote

[Jed McCaleb] is precisely the sort of ‘surfer-dude man-child’ coders regard as a demigod.

As a coder, I do not regard any sort of 'man-child' as an object of worship and this way of writing about the industry stinks. 

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18 minutes ago, invest2lose said:

did you click on "all" below David's response?

no, nothing I guess the cms cloud (or whatever it is called) is not up to date in my region.

Anyway I agree about the title of the topic it's not a war, I wish they work all together finally. They're doing the exact same thing, just let the egos behind.

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I'm not sure about the accuracy of the article, but it does give an insight to the initial problems for Ripple and the personalities involved. Accurate or not, this is going to be the basis for the  perception that many will have and now I have a better understanding of perhaps why the FI's are finding it difficult to embrace the new technology - not just doubt about the tech, but huge doubts about the stability of some of the key people involved. I will read this again. Ripple must have had a mountain to climb to gain some semblance of legitimacy after such a wobbly start, and all I can see is that they have done a great job. I still don't know how Stellar is having the impact with the FI's - McCaleb must indeed be a charismatic genius

ps Why reunite when you know that behind the genius lies such instability, let alone a reputation that does not seem to stand up to scrutiny. That will be the signal for me to get out of XRP

Edited by mistatee2000
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2 hours ago, GiddyUp said:

An interesting read, I'll have finish it later, tho, very lengthy...

http://observer.com/2015/02/the-race-to-replace-bitcoin/

That article starts out saying that they want top replace both Bitcoin and the Dollar, neither are true.

Jed seems to have a decent sized internet support group for whatever reason, not sure if he is, or stellar is, hyping hime for whatever reason.

There is a video on youtube where the host babbles about how great Jed is, saying that everything he does is good, and somehow they manage to spin his connect to MT Gox as a good thing.  At some point and time, the crypto, banking, and IT world will realize his true colors.

 

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@JoelKatz

Money and control is a funny thing. Funny for the investors and funny for the companies employees.

By funny... I mean, people/humans behave very differently. Investors may play games with the co-founders, and with the tech people who have defacto control over the companies' products. The implications for the technical co-founder may be to... "knife the baby". This is seen by everyone in the company and by the investors as a terrible thing. However, the technical co-founder may see this as a control issue. Meaning that the employees and the investors should/could have behaved differently with regard to the technical co-founder that is being/ seen to be disadvantaged. Did 'they' really think the technical people would roll over?

The issue is control... founders believe that they know where they are going and believe that the employees and investors should follow the founder. This is at odds with investors' goals to seek more control. The money guys can always influence the equation to the disadvantage of the technical co-founder, as the tech founder is not motivated by money. Employees, executives and investors - are - by definition, solely motivated by the money.

--

So, the proper thing for Ripple would have been to:

  • be upfront and honest with their methods of achieving control, and
  • If there were differences in strategic direction, Ripple should have spun Jed and some number of employees out into a separate company, thus avoiding the attendant downstream drama.

I am consistently critical of Ripple management.

--

I have not followed the details of Ripple and Jed, but the way Ripple managed the situation was not helpful then, and is not helpful today. It is still possible that Stellar can eat all, or some of Ripple's lunch. IBM is very strategic in the banking sector. Ripple without a Microsoft partner is now vulnerable. Ripple is not nimble, as it must be committed to Ripple existing products for existing reasons. Ripple can no longer pivot.

Recall, that Ripple is :

  • a closed system... think Ripple cloud and all the x-Product instances... closed
  • no Eco-system... Ripple is on its own
  • no wallet... gee how can that be?? The only crypto with no wallet.
  • no real tech partners
  • no research connections, and 
  • Ripple has baggage in the crypto space, and
  • Ripple could be acquired.

Ripple senior management and specifically Larson did not handle this well. Ripple needs to partner with Microsoft, else it will become irrelevant.

--

I am reminded of Steve Job's running up a pirate flag on a small campus building, and then developing products that would change the world, while John Sculley fiddled away the company... with the existing investors... in control.

Interesting times...

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