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So, I know next to nothing about the DAO and Ether, but could some please explain this to me? The way I read this is that someone just proved that all code has bugs and if you use code as a contract, people will inevitably find ways to exploit its bugs and take your money (or, whatever, ether).

Is that what just happened?

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Yeah. And it proves that ether is valuable. And that it is important to debug and beta test in small scale.

How does it prove any value?

If ether had no value there would be no talk of undoing the transaction. That's my guess at least.

Yes. And the fact that people are trying to steal them.

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