How Jed McCaleb Approaches Entrepreneurship

Jed McCaleb is a leader in the tech industry. One of his sayings is that if you’re working towards the wrong goal than your productivity doesn’t really matter. That’s why he likes to stop and assess what he’s doing so that he stays focused on the right goals, both professionally and personally.

A lot of his professional career has been about building technology that will help people attain higher levels of efficiency. One of his earliest creations was eDonkey which became the most widely used file-sharing networks of its era, for example. He’s also been in the world of blockchain technology for a number of years now. He founded Mt. Gox which was the world’s first Bitcoin exchange. Jed McCaleb also established another cryptocurrency, Ripple.

It was in 2014 that Jed McCaleb established his present organization which is a nonprofit, Stellar.org. This organization was developed due to his belief that the current global financial network is fundamentally not working for the majority of the world’s inhabitants which is something that he aims to change.

Jed McCaleb says that his creation of Stellar is meant to assure in an era where people can easily and inexpensively move value between two parties. Stellar can link different financial institutions as well as cryptocurrencies, like Bitcoin, together which hasn’t been possible before.

Another interest he has is in artificial intelligence. He says that while AI is highly promising researchers need to take extreme caution that they don’t end up creating something very dangerous. In order to do his part regarding safe AI, Jed McCaleb has donated to Machine Intelligence Research Institute and also offers them his consulting services. This is a nonprofit that is creating formal tools so that researchers will have a framework to develop AI that can be safely operated.

Jed McCaleb says that while he’s had his share of successes as an entrepreneur he’s also had plenty of failures. He says the key is to overcome them and don’t be afraid of failure. He says that being an innovator and entrepreneur means you’re going to suffer setbacks on a regular basis but you should never let it discourage you from trying again.

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