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Coinbase is rescinding already-accepted job offers

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Re: Coinbase is rescinding already-accepted job offers

#231

Post by sarchertech »

bingohbangoh wrote: post #221
kodah wrote: post #139

Earlier quoted context omitted.

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…

This sentiment seems common on Hacker News but I'm not sure its wise. Companies that have high standards are far more interesting places to work at and with more interesting colleagues. They all require whiteboards and leet code. It's definitely true that not all companies that use these algorithm interviews are worth working for. But, at least in my experience, companies that don't require them at all are pretty awf…

Alternatives like take homes, pair programming etc… don’t demonstrate that a company doesn’t care who they hire. I mean sure it could, but it could also demonstrate they don’t cargo cult interview practices.

Other industries don’t hire this way for anyone but fresh grads, and most don’t even do this for them.

Re: Coinbase is rescinding already-accepted job offers

#232

Post by A4ET8a8uTh0 »

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 can confirm Coinbase interviews are difficult. I went in relatively confident and still failed.

Looking back, it would appear I got lucky since we all know new blood is the first to be dropped come a downturn. Well, maybe potentially not lucky since I recently jumped ship anyway, but it is not crypto or startup so risk level is lower.

To your point, I agree. As an applicant, I would be really aggravated if I passed on an offer, because I received and accepted offer from another place ( and that another placed rescinded offer afterwards ). Can I assume there will be some lawsuits over this ( in that case there seems to be an incurred loss )?

Re: Coinbase is rescinding already-accepted job offers

#233

Post by dilyevsky »

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.

It’s june already so no it wasn’t. The writing was on the wall in November and Fed had clearly telegraphed their intent that this is going to happen

Re: Coinbase is rescinding already-accepted job offers

#234

Post by solveit »

gitfan86 wrote: post #226
yossarian1408 wrote: post #214

Earlier quoted context omitted.

A flawed ideal maybe, but you can't say it's a scam.

The only reason you cannot say Coinbase is isn't a scam is because it is impossible to prove that the people involved were lying in regards to the viability of crypto not being effectively a Ponzi scheme.

It is very difficult to believe Brian Armstrong was cynically cashing in on what he perceived as a Ponzi ten years ago when he founded Coinbase (he posted an ad for a co-founder here on HN).

Re: Coinbase is rescinding already-accepted job offers

#235

Post by fosk »

gitfan86 wrote: post #226
yossarian1408 wrote: post #214

Earlier quoted context omitted.

A flawed ideal maybe, but you can't say it's a scam.

The only reason you cannot say Coinbase is isn't a scam is because it is impossible to prove that the people involved were lying in regards to the viability of crypto not being effectively a Ponzi scheme.

There is value in a global blockchain with the level of participation of crypto. And sure there are scams, there are scams in the real economy too.

Ponzi is not an acronym for “I don’t understand its value therefore it’s a Ponzi scheme”.

Re: Coinbase is rescinding already-accepted job offers

#237

Post by solveit »

humaniania wrote: post #159
kodah wrote: post #139

Earlier quoted context omitted.

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.

Of course it is. Money flows.

Re: Coinbase is rescinding already-accepted job offers

#238

Post by thehappypm »

codegeek wrote: post #196
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.

It lowers the barrier of entry for retail buyers

Re: Coinbase is rescinding already-accepted job offers

#239

Post by aaronbrethorst »

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…

This feels very much in keeping with a between-the-lines reading of the CEO's "mission-focused company" memo in 2020.

https://blog.coinbase.com/coinbase-is-a-mission-focused-comp...

Re: Coinbase is rescinding already-accepted job offers

#240

Post by jes »

bathtub365 wrote: post #217
jes wrote: post #194

Earlier quoted context omitted.

> 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 sta…

It’s ok to be mad at a company if they fuck you over by rescinding a signed offer.

Of course. If someone wants to be angry, that's their choice.

Yet a lot of people get angry easily, and being an easily-triggered person works against a person's life. No one wants to constantly have to walk on eggshells around another person in order to be their friend, partner, child, etc.

Personally, I don't enjoy the emotion of being angry. If you do, more power to you.

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