LIVE: Ripple CEO Brad Garlinghouse is Holding a XRP AMA at 6pm EST
Ripple CEO Brad Garlinghouse is Holding an AMA at 6pm EST
During the Ask Me Anything (AMA) session, Brad will be answering “tough questions” mailed in from the audience. The conversation will also be moderated by Ripple’s Chief Marketing Strategist, Cory Johnson.
There are some obvious problems with this AMA.
First, the AMA is not being held on Reddit, where it’s tough for a company to dodge tough questions. Reddit is where AMAs first became “a thing”. Second, the AMA is being moderated by the company’s head of marketing. That head of marketing will ask the CEO pre-selected questions.
Yes, Ripple claims the questions will be “tough questions” sent from members of the community. In reality, it seems unlikely that Garlinghouse will answer anything too controversial – like how connected XRP and Ripple actually are or what will happen if XRP is labeled a security.
That’s a problem: it defeats the point of an Ask Me Anything session. At which point does an AMA just become a televised interview between company employees?
In any case, the news was tweeted by the official Ripple (@Ripple) account yesterday. You can tune into the AMA live at ripple.com/insights. The AMA will debut at 6pm EST or 3pm PST.
What Kind of Tough Questions Should Ripple Answer?
Ripple is promising to ask its CEO “tough questions” about the company and the future of XRP.
In reality, that seems unlikely. However, Messari founder TwoBitIdiot, a noted critic of Ripple, has suggested some tough questions that Garlinghouse should answer, including:
(1) What percentage of Ripple Inc’s revenues come from its gradual liquidation of XRP? The company seems to be uniquely positioned to “rebate” XRP to enterprise customers while liquidating its broader reserve to exchanges that can resell XRP to retail. My back of the napkin has XRP revs at 80–90% of Ripple’s revenues (if not higher). Am I overestimating?
In December 2017, we knew that Ripple held 55 billion XRP tokens in escrow in order to create certainty of XRP supply at any given time. Ripple’s Q2 revenues were $75 million. If these numbers are true, then Ripple’s long-term sustainability seems to be in question. They can only liquidate so many tokens to keep their revenue growing.
(2) Did Ripple Inc pay for the design and branding behind XRP’s new logo? Previous references to XRP included references to Ripple Inc. and a shared logo between the currency and company.
In days gone by, XRP tokens shared Ripple’s name and fidget spinner logo. Now, Ripple is trying to distance itself from the digital token. They don’t want XRP to be declared a security – although Ripple may have the highest chance to be labeled a security out of all of the other major cryptocurrencies. XRP’s value arguably rises and falls with the value of Ripple, and the company continues to hold a surprisingly high portion of XRP.
Ultimately, tune into Ripple.com/insights for the AMA later today – but don’t get too excited about seeing tough questions.