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Coinbase is rescinding already-accepted job offers

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Re: Coinbase is rescinding already-accepted job offers

#281

Post by SilasX »

hyperman1 wrote: post #195
bigmattystyles wrote: post #152

Earlier quoted context omitted.

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.

Stupid question: I thought in Europe they’d get healthcare regardless of employment status?

Re: Coinbase is rescinding already-accepted job offers

#282

Post by solveit »

maccard wrote: post #263
solveit wrote: post #241

Earlier quoted context omitted.

Email is a decentralized protocol and the fact that you use a centralized provider such as gmail only somewhat defeats the purpose of email being a decentralized protocol instead of Google Messenger.

By that metric banks are decentralised too - my bank only speaks to another bank over a protocol but fundamentally just trusts the other side is good for it

I'm not very familiar with the subject but I don't believe the protocols used in banking are very decentralized. I'd be very surprised if you told me SWIFT was permissionless, for instance.

Re: Coinbase is rescinding already-accepted job offers

#283

Post by scarface74 »

xref wrote: post #254
1270018080 wrote: post #185

Earlier quoted context omitted.

Are there ANY companies that pay well and don't do algorithm interviews?

Thousands upon thousands. There are a lot more companies in the world than FAANGs and SV unicorns.

What is your definition of “pays well”?

Re: Coinbase is rescinding already-accepted job offers

#284

Post by ipaddr »

nxmnxm99 wrote: post #109
teaearlgraycold wrote: post #81

Earlier quoted context omitted.

Take the hit. I worked for a series B startup employing around 100 people at the start of the pandemic. Because of the pandemic the business was entirely shut down for 6 months. And was barely operational for longer still. Not a single person was let go. Now, this requires you to run your business responsibly from the start. If you’re already on the edge of your runway you either cut back or die. But if you have the…

What? If you're cutting, you're not doing it for excess fuck-you cash, it's clearly a runway planning scenario. Giving the example of a company that basically shut down while paying their employees to do nothing isn't helping make your point.

Your missing his point. He used this as an opportunity to increase loyalty, keep a trained functioning team together at decent wages which were able to outperform other companies who laided off, rehired months later at greater costs, no loyalty and starting from ground zero.

Re: Coinbase is rescinding already-accepted job offers

#285

Post by kelnos »

solveit wrote: post #234
gitfan86 wrote: post #226

Earlier quoted context omitted.

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).

Unless you personally know him well and have spoken with him at length about this, I don't think that opinion is based on anything substantial. A post on HN looking for a cofounder tells you only what the person wants you to believe they're thinking and feeling about what they're doing.

Re: Coinbase is rescinding already-accepted job offers

#286

Post by LaurensBER »

fatbird wrote: post #259
oceanplexian wrote: post #229

Earlier quoted context omitted.

> So why are they doing this? My sense is they see what’s coming. I think this vastly overestimates how efficiently corporations are actually run. I've been in meetings with executives at several public companies. When the topic of adjusting HC or spending money comes up, usually those conversations happen in a ratio of 50% politics, 40% wild-ass opinion, and 10% data. And almost always, the "data" are completely che…

Seconding this. I work as a contractor at a Fortune 100, and have been there long enough, and am now highly enough ranked, that I see most of the decision pipeline from the C suite down to the intern I'm helping. The a-rationality of it is shocking. No one two steps above me really understands what our project does or how it makes money, only how it plays into the spreadsheets; and yet decisions come down from above…

Having had the same experience this is why I prefer to invest in small cap companies. The amount of overhead and waste in big companies is insane and overwhelming.

One would think that there's an enormous chance for optimization at companies at this scale, especially because everyone at the bottom know what is/isn't working but for various reasons, companies are very bad at doing this.

Re: Coinbase is rescinding already-accepted job offers

#287

Post by devoutsalsa »

claytonjy wrote: post #172
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 a successful way to advertise jobs? I know it seems like they're all on there, but the last two times I hired, the LI crowd was by far the lowest quality. I got 700 applicants in a couple days (and 1000+ in a week) for a data science posting at a startup in 2019, almost all were entry-level applicants for a senior-level role. I don't blame the applicants, but it was basically impossible to wade through so…

In the future, it’s pretty easy to filter out unqualified applicants merely by describing what you really need & being clear about it.

Re: Coinbase is rescinding already-accepted job offers

#289

Post by scarface74 »

ipaddr wrote: post #272
scarface74 wrote: post #130

Earlier quoted context omitted.

You should always have other options. You shouldn’t wait until you’re about to be laid off. I can honestly say there isn’t a single day since 2008 (I’ve been working a lot longer) that if the company I was working for laid me off that I wouldn’t be prepared to look for another job the same day. That means an updated resume, career document of accomplishments and talking points, an active network and “fuck you money”…

A developer in SF is not in the upper quintile.. they can't even afford a starter house. Big cities add huge costs that start making sense with home ownership but will leave a renter worse off. Good advice on the other points.

The median household income in SF is $92K.

https://sf.curbed.com/2019/2/25/18239828/report-middle-class...

The average software developer in SF makes more then twice that.

https://www.builtinsf.com/salaries/dev-engineer/software-eng...

Re: Coinbase is rescinding already-accepted job offers

#290

Post by scarface74 »

fleetwoodsnack wrote: post #147
weird-eye-issue wrote: post #57

Earlier quoted context omitted.

Yeah this is 2022. Just email me. Saves us both awkward conversations that isn't going to change anything.

Exit interviews are an opportunity for the formerly employed to air and address their grievances too. I think it precludes a (generally) necessary transfer of information when an email is sent en lieu of a substantive discussion. As someone who’s been on both sides of the proverbial desk, I’ve come away frustrated but enlightened in some way almost every time.

We all know the rules about exit interviews. They are the same as resignation letters. It’s best to say something banal and move on.
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