Different investors shine in various lines of businesses based on their passion and interests. For Jed McCaleb, he is interested in empowering technology to improve the human condition and their efficiency. Jed innovated the most prominent file sharing system years back, eDonkey. Jed also invented the first Bitcoin exchange; Mt. Gox. He then founded ripple in 2011 and is currently developing Stella.org which he founded in 2014. He is also an advisor at MIRI, a foundation that researches on artificial intelligence.
The presence of Bitcoin inspired the Stellar. However, the organization aims at linking financial conglomerates and enhancing cheaper and convenient was of sending money. Jed explains that this will be very beneficial to the low-income earners who are not banked while sending money.
Jed’s likes to explain his day with two modes. He says he got the focused mode and the reactive mode. The active mode is when he is concentrating on the micro activities in the business. This includes; replying emails and responding to requests. The focused mode is when he concentrates on coding and building.
One trend that excites Jed is the Artificial intelligence. This is why he is a donor and an advisor of Machine Intelligence Research Institute (MIRI). He says that the artificial intelligence is scary and exciting at the same time. According to Jed, 20 years from now, the AI will solve so many issues for humans and make everything easier.
Jed says that one factor that makes him productive is spending a lot of time in planning and strategizing. He says that it is useless and pointless if you are continually putting so much effort moving in the wrong direction. Also, when his building something, he is so careful to see that he doesn’t focus on the detrimental factors. He only focuses on the essentials.
Jed’s advice to the young investors is contradictory from the norm in business but very true. He tells the young investors to stop focusing on the niches and concentrate on new ideas that would impact the world. As much as it sounds harder than finding a niche, he says it has bigger rewards than filling a gap as well.
Listen to Jed McCaleb: https://www.youtube.com/watch?v=GIMOrsPxlZg