build failed when I run "gulp", how to fix it?

[ohJohanZ]

[21:13:00] Version: webpack 1.14.0

ERROR in ./src/js/entry/vendor.js
Module build failed: ReferenceError: [BABEL] /Users/johan/my_ripple_experiment/ripple-client-desktop/src/js/entry/vendor.js: Unknown option: /Users/johan/my_ripple_experiment/package.json.presets
at Logger.error (/Users/johan/my_ripple_experiment/ripple-client-desktop/node_modules/babel-core/lib/transformation/file/logger.js:58:11)
at OptionManager.mergeOptions (/Users/johan/my_ripple_experiment/ripple-client-desktop/node_modules/babel-core/lib/transformation/file/options/option-manager.js:126:29)
at OptionManager.addConfig (/Users/johan/my_ripple_experiment/ripple-client-desktop/node_modules/babel-core/lib/transformation/file/options/option-manager.js:107:10)
at OptionManager.findConfigs (/Users/johan/my_ripple_experiment/ripple-client-desktop/node_modules/babel-core/lib/transformation/file/options/option-manager.js:171:32)
at OptionManager.init (/Users/johan/my_ripple_experiment/ripple-client-desktop/node_modules/babel-core/lib/transformation/file/options/option-manager.js:229:12)
at File.initOptions (/Users/johan/my_ripple_experiment/ripple-client-desktop/node_modules/babel-core/lib/transformation/file/index.js:147:75)
at new File (/Users/johan/my_ripple_experiment/ripple-client-desktop/node_modules/babel-core/lib/transformation/file/index.js:137:22)
at Pipeline.transform (/Users/johan/my_ripple_experiment/ripple-client-desktop/node_modules/babel-core/lib/transformation/pipeline.js:164:16)
at transpile (/Users/johan/my_ripple_experiment/ripple-client-desktop/node_modules/babel-loader/index.js:12:22)
at Object.module.exports (/Users/johan/my_ripple_experiment/ripple-client-desktop/node_modules/babel-loader/index.js:71:12)