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Coinbase is rescinding already-accepted job offers

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Re: Coinbase is rescinding already-accepted job offers

#191

Post by anonporridge »

BonoboIO wrote: post #72
AviationAtom wrote: post #32

Earlier quoted context omitted.

Crypto has boom and bust cycles. It will be back again, and mania will happen again.

Like tulips. Still waiting for the bull market there. https://en.wikipedia.org/wiki/Tulip_mania

Fun fact, Tulip mania is mostly a myth.

https://www.smithsonianmag.com/history/there-never-was-real-...

> So if tulipmania wasn’t actually a calamity, why was it made out to be one? We have tetchy Christian moralists to blame for that. With great wealth comes great social anxiety, or as historian Simon Schama writes in The Embarrassment of Riches: An Interpretation of Dutch Culture in the Golden Age, “The prodigious quality of their success went to their heads, but it also made them a bit queasy.” All the outlandish stories of economic ruin, of an innocent sailor thrown in prison for eating a tulip bulb, of chimney sweeps wading into the market in hopes of striking it rich—those come from propaganda pamphlets published by Dutch Calvinists worried that the tulip-propelled consumerism boom would lead to societal decay. Their insistence that such great wealth was ungodly has even stayed with us to this day.

Re: Coinbase is rescinding already-accepted job offers

#192

Post by eigenvalue »

epgui wrote: post #123
serf wrote: post #78

Earlier quoted context omitted.

investment is a pretty strong term for what a lot of us did to make money at btc. I made quite a bit of money by throwing my ex-gaming 4870x2 radeon machine into a closet for a year. my investment was a few bucks in energy, and an old computer that was going to become e-waste, and a few minutes time. I got lucky that at the time this was a feasible strategy before ASIC domination -- but this 'investment' wasn't anyth…

Growing tulips isn’t any more of an “investment” than buying tulips… Regardless of whether or not it’s profitable, it’s a speculative endeavour.

Tell that to the Dutch companies currently making tens of millions of years growing and selling tulips of all colors!

See https://scitechdaily.com/dutch-tulip-fields-come-into-bloom-...

Re: Coinbase is rescinding already-accepted job offers

#194

Post by jes »

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…

> I'd be furious at the inequality of input and output

Stranger here. Just want to suggest that getting furious over things outside of your control, or the world not being as you would like it to be, is optional.

If you don't like being enraged, you can quit that pattern with some practice in learning to notice your emotions as they come and go, and then learning to interrupt the chain of events that leads to the state of being furious and brooding.

Re: Coinbase is rescinding already-accepted job offers

#195

Post by hyperman1 »

bigmattystyles wrote: post #152
hallway_monitor wrote: post #107

Earlier quoted context omitted.

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.

In Europe, we have layoff terms measured in months. Revenge action is nevertheless very rare.

If your personel has an exit period of a few months, they can take their time to process what happened, grieve, and find a new job, without losing the house or healthcare. There simply isn't that much of a reason for revenge.

Re: Coinbase is rescinding already-accepted job offers

#196

Post by codegeek »

carlivar wrote: post #7

Coinbase tried to recruit me last summer. I politely told the recruiter that I felt it was all bubble speculation mania. Also the amount of equity sold by the CFO at the public listing indicated little confidence in the long term prospects. I guess I was right? Not trying to brag or anything. Just a tip to everyone job hunting I guess. Watch what executives do (not what they say). Well, and human history of speculati…

I honestly don't get the point of Coinbase. Isn't it a centralized system to manage what is supposed to be decentralized and that kinda defeats the purpose? I may be dumb.

Re: Coinbase is rescinding already-accepted job offers

#197

Post by haltingproblem »

swingbrother wrote: post #166
smilebot wrote: post #114

Probably an unpopular opinion here but I think they handled it in a classy way. Severance and assistance with your job search? That’s very nice of them. Other companies like Meta rescinded too, I’m not sure if they offered severance. Maybe just a generic email?

Meta did not really rescind in general. It was only a couple of very specific cases, such as not winning the H1B lottery they did rescind the offer.

I would nor even count that as rescinding the offer. All offers including at firms actively hiring are contingent on candidate receiving work visas.

Re: Coinbase is rescinding already-accepted job offers

#198

Post by cratermoon »

iLoveOncall wrote: post #156
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.

"No one could have predicted a thing that happens regularly in the current economic system"!

Re: Coinbase is rescinding already-accepted job offers

#199

Post by coffeefirst »

smilebot wrote: post #114

Probably an unpopular opinion here but I think they handled it in a classy way. Severance and assistance with your job search? That’s very nice of them. Other companies like Meta rescinded too, I’m not sure if they offered severance. Maybe just a generic email?

I mean, they may intend it as kindness, but it's also cheaper and easier to put that option up front than to deal with lawyers from each person who had a signed offer rescinded.

Re: Coinbase is rescinding already-accepted job offers

#200

Post by tasn »

blibble wrote: post #188
smilebot wrote: post #114

Probably an unpopular opinion here but I think they handled it in a classy way. Severance and assistance with your job search? That’s very nice of them. Other companies like Meta rescinded too, I’m not sure if they offered severance. Maybe just a generic email?

if you had a signed contract don't they have to pay their way out of the notice period regardless?

There is usually no notice period (or mandated severance in the US).
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