Regardless of having Joe Lubin’s billions at its again, and regardless of having 1,200 staff to construct apparently something they needed within the Ethereum ecosystem, ConsenSys has completed little or no and has little income — so it is lastly going through the music and shedding 13% of its staff. Jeff Kauflin, workers author at Forbes, who wrote an excellent story on how ConsenSys is flailing, discusses how the corporate bought to this place. (Trace: asteroid mining and faculty diplomas on a blockchain are a part of the reply.) We speak about whether or not any ConsenSys tasks even have some traction, how a lot of the brand new focus has to do with the downturn within the crypto markets — notably bitcoin and ether, that are rumored to comprise most of Lubin’s wealth — and what ConsenSys’s difficulties imply for Ethereum.
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Episode Hyperlinks:
Jeff Kauflin’s tales on Forbes: https://www.forbes.com/websites/jeffkauflin/#6083b54463ae
On Twitter: https://twitter.com/JeffKauflin
Jeff’s story on ConsenSys: https://www.forbes.com/websites/jeffkauflin/2018/12/05/cryptopia-in-crisis-billionaire-joe-lubins-ethereum-experiment-is-a-mess-how-long-will-he-prop-it-up/#c3354702f0a6
Letter from Joe asserting new give attention to effectivity and income: https://breakermag.com/exclusive-consensys-letter-to-staff-details-major-strategy-shift/
CoinDesk article reporting layoffs at ConsenSys: https://www.coindesk.com/consensys-confirms-layoffs-projecting-13-of-staff-at-startups-to-be-cut
Joe Lubin’s estimated private wealth as of early 2018: https://www.forbes.com/websites/laurashin/2018/02/07/joseph-lubin-ethereum-ether-consensys-crypto-cryptocurrency/#58d513863575
