Jed McCaleb's Exit from Ripple Labs: The Plot Thickens

[tokeweed]

Jed McCaleb, the creator of E-Donkey and the founder of one of the largest Bitcoin exchanges, Mt.Gox, dropped out of Ripple Labs (a company that he is also a co-founder) to 'spend his time looking into new things: man-made surf parks and artificial intelligence'. As was written in an article from Wired:  http://www.wired.com/wiredenterprise/2013/09/jed_mccaleb/

But a video recently uploaded in YouTube (http://www.youtube.com/watch?v=uQ2DCKLHaQs&t=461) says otherwise. In the video, he mentioned that he left the company due to 'disagreements with someone brought on to be CEO'.  

So which is it really?  Maybe we will hear Jed McCaleb's side of the story in full in the near future.

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[Walsoraj]

Probably a good thing. Look happened happened to bitcoin after he left MtGox.

[tokeweed]

what will happen to bitcoin after he releases his 'new secret bitcoin project'?  now this is a good thing.

[LiteCoinGuy]

he finally noticed that ripple is dead.

[acoindr]

I'm still trying to figure out how people determine how many Ripples there are in existence.

[Walsoraj]

he finally noticed that ripple is dead.

Just like he noticed bitcoin was dead, selling below $1.00, before leaving Gox.

[cypherdoc]

don't forget Jed's laptop was the one that got hacked revealing the admin pwd leading to the mtgox plunge to $0.001 over a period of about 15 min back in June 2011.

i tried to scrape up the video of that plunge but no success.  i remember being right there when it happened.  one of the most dramatic things i've ever seen realtime.

[tokeweed]

don't forget Jed's laptop was the one that got hacked revealing the admin pwd leading to the mtgox plunge to $0.001 over a period of about 15 min back in June 2011.

i tried to scrape up the video of that plunge but no success.  i remember being right there when it happened.  one of the most dramatic things i've ever seen realtime.

please post if you can find it by chance. thanks.

also, i was wondering more on what this secret bitcoin project be.  i mean it has to something new, but what?

[hellscabane]

The plot thickens indeed.

Disagreements with a "business" usually points to money issues, fundamental issues, or personal issues. Wonder which one it is? Interesting stuff...

[tokeweed]

The plot thickens indeed.

Disagreements with a "business" usually points to money issues, fundamental issues, or personal issues. Wonder which one it is? Interesting stuff...

disagreements on who to bring on as ceo (or cto, audio is not clear). he starts talking about it at around 7:00 in the video.

[Nathonas]

Probably a good thing. Look happened happened to bitcoin after he left MtGox.

Why is your avatar upside down. I hurt my neck looking at that

[hellscabane]

The plot thickens indeed.

Disagreements with a "business" usually points to money issues, fundamental issues, or personal issues. Wonder which one it is? Interesting stuff...

disagreements on who to bring on as ceo (or cto, audio is not clear). he starts talking about it at around 7:00 in the video.

I hear CEO. But I meant, is his beef with the person being taken on a personal level, fundamental level (the direction and that sort of thing), or does it impact his financial share in everything. I'm still unclear on that.

[tokeweed]

The plot thickens indeed.

Disagreements with a "business" usually points to money issues, fundamental issues, or personal issues. Wonder which one it is? Interesting stuff...

disagreements on who to bring on as ceo (or cto, audio is not clear). he starts talking about it at around 7:00 in the video.

I hear CEO. But I meant, is his beef with the person being taken on a personal level, fundamental level (the direction and that sort of thing), or does it impact his financial share in everything. I'm still unclear on that.

i doubt it's money issues. this is what jed said in the interview:

I left in the summer, just June/July,
disagreements with someone brought on to be CEO, and they are kind of...
I don't know; they're lucky, we will see how it goes...

probably a little of both in the fundamental and personal level. jed was probably wanting to take the company one way the other person wanted it to be taken another way. then got personal.

i wouldn't be surprised if this person he was referring to was chris larsen. but who was he referring to when he said 'they' and he mentions 'they're lucky'. sounds like jed felt he got screwed over and then it got personal. and that sucks when the people you trusted stab you in the back.

but do you think there's still a chance of jed returning, granted that he still has allies in the company?  

[hellscabane]

The plot thickens indeed.

Disagreements with a "business" usually points to money issues, fundamental issues, or personal issues. Wonder which one it is? Interesting stuff...

disagreements on who to bring on as ceo (or cto, audio is not clear). he starts talking about it at around 7:00 in the video.

I hear CEO. But I meant, is his beef with the person being taken on a personal level, fundamental level (the direction and that sort of thing), or does it impact his financial share in everything. I'm still unclear on that.

i doubt it's money issues. this is what jed said in the interview:

I left in the summer, just June/July,
disagreements with someone brought on to be CEO, and they are kind of...
I don't know; they're lucky, we will see how it goes...

probably a little of both in the fundamental and personal level. jed was probably wanting to take the company one way the other person wanted it to be taken another way. then got personal.

i wouldn't be surprised if this person he was referring to was chris larsen. but who was he referring to when he said 'they' and he mentions 'they're lucky'. sounds like jed felt he got screwed over and then it got personal. and that sucks when the people you trusted stab you in the back.

but do you think there's still a chance of jed returning, granted that he still has allies in the company?  

Getting stabbed in the back sucks. [Insert personal anecdote...]

I personally don't think he'd bother to return. It feels like this is one that he is going to take on the chin, and he'll move on from.

From what I watched (I only watched like the first 9 minutes), he seems like someone that moves from one thing to the next. Admittedly with the changes that I think he perceives I would doubt that it'd be worthwhile for him on a fulfillment level to put stock back into Ripple (at least in terms of the business strategy). To me that seems like that's going to be the most likely scenario.

Is there a chance? Sure. But odds are against it.

[BittBurger]

Considering Ripple is supposed to be the "Regulated" version of Bitcoin (i know its a stretch but those who know Ripple know what I'm getting at), I am amazed at the utter and complete lack of *any* press about it.  Its almost as if the people running the show are doing *absolutely nothing* to promote it with the various financial institutions, which completely blows me away.  Their price dropped 50% several months ago and it has sat, unchanged at $0.02 ever since.  Not a single news article mentioning it.  Zero progress.  Zero adoption.  Zero marketing.  Nothing. 

-B-

[tokeweed]

Considering Ripple is supposed to be the "Regulated" version of Bitcoin (i know its a stretch but those who know Ripple know what I'm getting at), I am amazed at the utter and complete lack of *any* press about it.  Its almost as if the people running the show are doing *absolutely nothing* to promote it with the various financial institutions, which completely blows me away.  Their price dropped 50% several months ago and it has sat, unchanged at $0.02 ever since.  Not a single news article mentioning it.  Zero progress.  Zero adoption.  Zero marketing.  Nothing. 

-B-

and it seems like ripple labs don't really give a damn about its community. well at least that's how i, and a lot of other people feel. there are well meaning people in the ripple community. it's like they make you feel you're not needed.  tho they may not intend to, people feel it nevertheless.

as for 'I am amazed at the utter and complete lack of *any* press about it.  Its almost as if the people running the show are doing *absolutely nothing* to promote it with the various financial institutions, which completely blows me away. '. i am thinking it would have been better if jed was still around. but who knows... 

[dottom]

But I can't mine XRP... they call it a feature, but mining is what got most adopters into bitcoin, even if ASIC's are killing that side of it.

[BitCoinDream]

I believe this Jed McCaleb is also one suspect of being Satoshi ...right ?

[tokeweed]

I believe this Jed McCaleb is also one suspect of being Satoshi ...right ?

yeah. that rumor that he is satoshi comes back from time to time.

[Agent Provocateur]

don't forget Jed's laptop was the one that got hacked revealing the admin pwd leading to the mtgox plunge to $0.001 over a period of about 15 min back in June 2011.

i tried to scrape up the video of that plunge but no success.  i remember being right there when it happened.  one of the most dramatic things i've ever seen realtime.

please post if you can find it by chance. thanks.

there it is

http://www.youtube.com/watch?v=T1X6qQt9ONg