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Not long after ConsenSys' founder and CEO, Joseph Lubin, told BREAKER about his "reorganization" plans, the company focused on Ethereum has materialized on redundancies. According to what was announced Thursday, ConsenSys will reduce the "mesh" (the collective name for its employees) by 13%. With approximately 1,200 employees, this is about 156 people without work.
This has given rise to many reactions, many of which reflect on Ethereum, the network that ConsenSys has worked hard to make itself synonymous with. (In a November interview at BREAKER, Amanda Gutterman, ConsenSys, said: "Okay, you should confuse them," when I slipped up and called ConsenSys "Ethereum".) Lubin has long talked about a great game on why there is no reason to worry about the sustainability of ConsenSys, but Forbes has recently estimated that most of its companies have spent more money than they have done, an estimate that seems accurate based on yesterday's layoffs.
The answer is, always, the egg. The eggs existed long before the chickens. But if the chicken is trying to be the egg, then all the bets are off.
Someone commented (jokingly?) Directing the people ConsenSys has entrusted to Ripple, who is apparently assuming. The market capitalization of XRP now exceeds that of Ethereum of over $ 3 billion, representing the current state of the most durable "rippening" (when XRP exceeds the market capitalization of the ether) to date.
It is a sort of "chicken or egg" question. ConsenSys (the "chicken" in this non-tortured analogy) contributes to the decline in the price of the ether, or the falling price of the ether is causing the firing of the ConsenSys? The answer is, always, the egg. The eggs existed long before the chickens. But if the chicken is trying to be the egg, then all the bets are off.
Others are taking back the bet that Lubin had made with the bitcoin maximalist Jimmy Song in May 2018. Lubin bet "any amount of bitcoin" that five years after, there would have been about five different decentralized applications with significant numbers of users (in addition to bitcoin).
In large part, though, people are watching to see if anyone has invested in the Ethereum blockchain, not just in ConsenSys, they are sweating. Someone even wrote a rap inspired by Eminem that, in addition to Lubin, refers to Vitalik Buterin and Coinbase's CEO Brian Armstrong.
Meanwhile, ConsenSys is making a brave face. His average post on Thursday reminds readers that "the price is not the whole story", indicating all kinds of promising numbers, such as the increase of 240 million transactions across the Ethereum network since June. C & # 39; was "relative" [price] stability "(prices have been reliably lower compared to the beginning of the year, it is true), and now there are almost 49 million unique addresses on the blockchain, ConsenSys writes." This is the spirit – and a show that Lubin has not lost the bet on Song yet.
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