Coinbase is rescinding already-accepted job offers • Hacker News Board

Re: Coinbase is rescinding already-accepted job offers

#151

Post by mlyle » Sat, Jun 04, 2022, 5:16 PM UTC

paraph1n wrote: post #94

mlyle wrote: post #42

Earlier quoted context omitted.

Yah. I think distributed ledgers are here to stay, as are some tokens of stored value. But I don't think the insane bidding up of many tokens will ever happen again.

> I think distributed ledgers are here to stay What exactly makes you think that? As far as I can tell, it's still unclear if distributed ledgers are really effective tools for much of anything. What real problems have they solved?

Non-repudiation is an important problem. Some things we can rely upon trusted third parties, but all kinds of things we rely on imperfect systems with notaries and trusted third parties can be more effectively solved with ledgers.

A whole lot of the interesting applications are non-monetary-- proving that a record was produced and made available before a certain time and has not been tampered with since.

As a world economy, we spend like $100B/year on notarizing things and related kinds of non-repudiation record keeping. If it was really cheap, we'd do much more. And a big fraction of this could be done cheaper and with a higher agree of assurance by distributed ledgers than notaries.

Re: Coinbase is rescinding already-accepted job offers

#152

Post by bigmattystyles » Sat, Jun 04, 2022, 5:17 PM UTC

hallway_monitor wrote: post #107

lordnacho wrote: post #97

Earlier quoted context omitted.

When I was an underboss in a firm that was going down, I just told people. Informally, in person. I wasn't supposed to, but they were putting two and two together themselves, and it would have been wrong to leave them with an inaccurate idea of how the firm was doing. Don't hire me if you need me to lie to your staff.

This is literally my only request from management. If you know I'm going to lose my job don't wait until my last day to tell me. Give me some time to set up other options.

It’s so tough though - with large layoffs, you want to avoid revenge actions from people who are being let go. Immediate termination / cutoff of access is really the only way to do it. But I agree, it’s not humane. Don’t ever buy companies that talk about being a family. They want you to treat them like family but they will turn around and do what they deem necessary to self-preserve.

Re: Coinbase is rescinding already-accepted job offers

#153

Post by iLoveOncall » Sat, Jun 04, 2022, 5:17 PM UTC

erehweb wrote: post #89

LinkedIn should set up a code of practice that bans this. Rescind offers? Then you can't advertise on LinkedIn for the next 5 years, and we won't host your job posts either. That would change the calculations at these companies and make the jobs marketplace better, at little cost to LinkedIn.

As awful as it is, letting people go is something that happens when doing business.

If you have to choose between resciding offers and leading your company to its death by running out of funds, the only sensible decision is the first one.

I also don't get why LinkedIn should be the HR police of 2022, this is nonsense.

Re: Coinbase is rescinding already-accepted job offers

#154

Post by dragonwriter » Sat, Jun 04, 2022, 5:19 PM UTC

redisman wrote: post #133

gdulli wrote: post #69

Earlier quoted context omitted.

It's less nice and more that they're paying people to sign away their right to sue. Imagine you've left your job, you probably don't want to go back there. You have to start a new job search. You're likely out more than one month's salary. Plus the intangibles of a job search while unemployed vs. employed. Imagine you declined COBRA, or even with COBRA, you might end up with a period of being responsible for your own…

COBRA is actually a terrible deal if you had a nice plan. You could pay a third to get a decent marketplace plan in most places

> COBRA is actually a terrible deal if you had a nice plan. You could pay a third to get a decent marketplace plan in most places

Unless you qualify for marketplace subsidies, marketplace plans aren't a better deal like for like, than the best deals on employer group plans. If you had a good employer plan, a minimal marketplace plan will be far cheaper, but switching insurers can have a nonfinancial transitional cost associated with networks changes that you may not want to deal with when transitioning to job hunting, and while for the average consumer a cheaper plan will usually also be lower cost, you may not be the average consumer; a cheaper plan that covers less may, as well as being a transitional headache, increase your total insurance + out of pocket cost.

Re: Coinbase is rescinding already-accepted job offers

#155

Post by pavlov » Sat, Jun 04, 2022, 5:20 PM UTC

kodah wrote: post #139

toddmorey wrote: post #17

"While we did not make this decision lightly..." Yes but you aren't doing it humanely, either. I've been through the dot com crash and several hard economic downturns. It really puts your company's humanity on full display. It's the real test. Preserving cash flow is important. But you also have to do things carefully, openly, and with genuine care for the people who've believed in your vision. People will respect th…

The worst part is that Coinbase's interviews are difficult. If I'd spent months studying, rejecting other (good faith) offers, and then had this happen I'd not only be in a bad spot (without a job entering a recession) but I'd be furious at the inequality of input and output. I've been interviewing for the past month and I made a rule that I won't be doing any algorithm interviews. I didn't have time to study; some f…

> ”Anecdotally there is a high correlation between firms that tell me they're freezing hiring, etc and algorithm interviews.”

Both are signs of companies that treat employees as ammunition rather than assets.

Re: Coinbase is rescinding already-accepted job offers

#156

Post by iLoveOncall » Sat, Jun 04, 2022, 5:20 PM UTC

chromejs10 wrote: post #91

Companies that are rescinding offers are just terribly managed companies. If you're in that bad of shape, then you should have done a hiring freeze months ago and there shouldn't have been any offers left to rescind (sure, there are odd ones where maybe they accepted 3 months early).

3 months ago the stock market was at or near an all time high, I don't see how they could anticipate the current economic downturn.

Re: Coinbase is rescinding already-accepted job offers

#157

Post by jlund-molfese » Sat, Jun 04, 2022, 5:20 PM UTC

kodah wrote: post #139

toddmorey wrote: post #17

"While we did not make this decision lightly..." Yes but you aren't doing it humanely, either. I've been through the dot com crash and several hard economic downturns. It really puts your company's humanity on full display. It's the real test. Preserving cash flow is important. But you also have to do things carefully, openly, and with genuine care for the people who've believed in your vision. People will respect th…

The worst part is that Coinbase's interviews are difficult. If I'd spent months studying, rejecting other (good faith) offers, and then had this happen I'd not only be in a bad spot (without a job entering a recession) but I'd be furious at the inequality of input and output. I've been interviewing for the past month and I made a rule that I won't be doing any algorithm interviews. I didn't have time to study; some f…

How do you find the better-quality companies you apply to? Are you able to decline to answer algorithm questions when they're asked, and instead convince companies to accept code samples?

There is https://github.com/poteto/hiring-without-whiteboards , but there aren't many larger companies on the list

Re: Coinbase is rescinding already-accepted job offers

#158

Post by mlyle » Sat, Jun 04, 2022, 5:21 PM UTC

DonHopkins wrote: post #146

mlyle wrote: post #42

Earlier quoted context omitted.

Yah. I think distributed ledgers are here to stay, as are some tokens of stored value. But I don't think the insane bidding up of many tokens will ever happen again.

Paperclips are here to stay, but would you invest in a company that only makes paperclip maximizers? https://www.lesswrong.com/tag/paperclip-maximizer

Nowhere did I suggest investing in crypto (indeed, I have a track record of the opposite, and I was mostly agreeing with someone who was suggesting the opposite), so your comment is unhelpful.

Re: Coinbase is rescinding already-accepted job offers

#159

Post by humaniania » Sat, Jun 04, 2022, 5:22 PM UTC

kodah wrote: post #139

toddmorey wrote: post #17

"While we did not make this decision lightly..." Yes but you aren't doing it humanely, either. I've been through the dot com crash and several hard economic downturns. It really puts your company's humanity on full display. It's the real test. Preserving cash flow is important. But you also have to do things carefully, openly, and with genuine care for the people who've believed in your vision. People will respect th…

The worst part is that Coinbase's interviews are difficult. If I'd spent months studying, rejecting other (good faith) offers, and then had this happen I'd not only be in a bad spot (without a job entering a recession) but I'd be furious at the inequality of input and output. I've been interviewing for the past month and I made a rule that I won't be doing any algorithm interviews. I didn't have time to study; some f…

The cryptocurrency pyramid scam bubble popping is not indicative of a recession.

Re: Coinbase is rescinding already-accepted job offers

#160

Post by tarellel » Sat, Jun 04, 2022, 5:22 PM UTC

was_a_dev wrote: post #99

erehweb wrote: post #89

LinkedIn should set up a code of practice that bans this. Rescind offers? Then you can't advertise on LinkedIn for the next 5 years, and we won't host your job posts either. That would change the calculations at these companies and make the jobs marketplace better, at little cost to LinkedIn.

Is LinkedIn really that large of a recruitment source? They certainly don't have a monopoly on it

I'd think so, I get dozens of recruiters reaching out every week. My current position I started a few months ago from a recruiter show reached out to me through LinkedIn as well.