Posted 8 months ago | by Ben Armstrong
McAfee to Dump Ghost Project – Sees no Future for Platform
John McAfee has pulled his support from the Ghost project, and told the world that due to poor management, the project has no future.
“I am abandoning the Ghost project. Management is incapable of making a success of the project. It will, without a doubt fail.”
The antivirus millionaire went on to describe how management dropped the ball, and placed blame for the failure of the project squarely with the man in charge.
“Josh controlled the project. He was killing it...Josh is an idiot...I added Ghost to my Ghost ecosystem because I had his assurance that he would be 100% focused on ghost. He never fulfilled that promise. I could no longer support a project managed by someone working on Clearpoll, Ethershare etc.”
While the Ghost project is apparently toast (according to McAfee), he still sees his Ghost Phone project going forward. McAfee wants to build a privacy focused ecosystem, which makes sense for a man who has gathered so much attention for a wild lifestyle.
Startups Are Risky
Any small company faces an uphill battle to become profitable. In the case of Ghost, McAfee thinks that management didn't care about making money.
“If you had told me, from the beginning, that making money for you, myself and everyone involved in Ghost, was of no interest to you and you merely wanted a piss around with worthless projects, like Ethershare, from your past that never made you, nor anyone else a dime, then I would never have given you legal control over ghost.”
When management is unfocused, or unable to take viable ideas to market, it is likely that the company will face total losses. Markets appear to share this view, as the Ghost token has fallen by more than 50% since McAfee took to Twitter.
Lots of Losers – and a Few Winners
There are so many crypto projects out there right now, and as more interest enters the marketplace over the coming years, we are likely to see more come into the marketplace.
Sadly, most of them won't amount to much, especially as new investors back tokens that have redundant ideas, or no funding to see the development process to fruition.
It is worth remembering that the financial markets in general are risky, and in the crypto space, the lack of widespread interest (although that is changing) makes the startup process even more risky.
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