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Coinbase is rescinding already-accepted job offers

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Re: Coinbase is rescinding already-accepted job offers

#391

Post by staticman2 »

scarface74 wrote: post #289
ipaddr wrote: post #272

Earlier quoted context omitted.

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...

It's $119,136 not 92k:

https://www.census.gov/quickfacts/fact/table/sanfranciscocit...

And that's of 2020 so out of date.

Re: Coinbase is rescinding already-accepted job offers

#392

Post by encryptluks2 »

xpe wrote: post #334
encryptluks2 wrote: post #305

Earlier quoted context omitted.

I mean in all honesty it these prospective employees can hold out and get good counsel they may end up with 5+ years of salary in settlement negotiations.

5 years? Why? What has your experience shown you?

It really depends, but 5 years salary for wrongful termination isn't far fetched. The fact that they sent an email saying this wouldn't happen and then it did does indicate breach of contract. They could be held responsible for compensatory damages to make up lost wages and punitive damages.

Re: Coinbase is rescinding already-accepted job offers

#393

Post by 1270018080 »

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.

I am guessing but I bet there are less than 5 worldwide. "Pay well" to me means $200k+ for mid level.

Re: Coinbase is rescinding already-accepted job offers

#394

Post by scarface74 »

staticman2 wrote: post #391
scarface74 wrote: post #289

Earlier quoted context omitted.

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...

It's $119,136 not 92k: https://www.census.gov/quickfacts/fact/table/sanfranciscocit... And that's of 2020 so out of date.

Yes because I’m sure two year old data is grossly out of date and the median income has gone up greatly enough so that a software engineer in SF is no longer in the top quintile.

Re: Coinbase is rescinding already-accepted job offers

#395

Post by scarface74 »

krainboltgreene wrote: post #376
scarface74 wrote: post #283

Earlier quoted context omitted.

What is your definition of “pays well”?

Why don't you ask the parent of the parent?

He said at least $200K. Which companies pay software developers over $200K and don’t require DS&A interviews? I doubt there are “thousands”

Re: Coinbase is rescinding already-accepted job offers

#396

Post by randomopining »

alphakilo wrote: post #251
formercoder wrote: post #136

I spoke with Coinbase at a time where I was trying to get away from a job where I worked 70-100 hour weeks. I would always tell recruiters I was seeking better WLB as I didn’t want a company that would have a problem with that attitude. I was told by multiple people that late nights should be expected and Coinbase was not a 40 hour per week company. Further - there are 4 weeks a year where the company shuts down and…

FWIW the 1 week every 4 months is on top of your vacation, not "encouraged vacation", but rather a company wide recharge week I agree those who started in the 6 months after IPO got the short end of a stick. The current packages are based on 90 day moving average IIRC. At least the grants being yearly helps in this case

So how down is a typical comp of a senior engineer at CB?

Re: Coinbase is rescinding already-accepted job offers

#397

Post by ProjectArcturis »

anonporridge wrote: post #191
BonoboIO wrote: post #72

Earlier quoted context omitted.

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…

"merchants really did engage in a frantic tulip trade, and they paid incredibly high prices for some bulbs. And when a number of buyers announced they couldn’t pay the high price previously agreed upon, the market did fall apart and cause a small crisis—but only because it undermined social expectations."

Re: Coinbase is rescinding already-accepted job offers

#398

Post by duxup »

ls612 wrote: post #293
duxup wrote: post #258

Earlier quoted context omitted.

What is the severance offered? I don’t know how you can determine what the minimum is without knowing the severance and etc.

I’ve read two months pay in a CNBC article, which for most of these folks is tens of thousands of dollars. They won’t be starving by any means while they search for a new job.

Yeah that’s not bad.

Re: Coinbase is rescinding already-accepted job offers

#399

Post by solveit »

kelnos wrote: post #285
solveit wrote: post #234

Earlier quoted context omitted.

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.

My opinion is based on it being completely insane to stake multiple years of your life on starting a cryptocurrency exchange in 2012 unless you had a sincere belief in the promise of blockchain technology. Crypto circa 2012 didn't look anything like what it is now.

Re: Coinbase is rescinding already-accepted job offers

#400

Post by aahortwwy »

darkteflon wrote: post #374
smeeding wrote: post #367

Earlier quoted context omitted.

Cryptos have value because their investors all agree that they do. That’s where it ends. If those investors stopped believing that, their value would drop to zero because there’s no underlying material value supporting it’s market value. They’re shared delusions, and arguably self-perpetuating high-control groups. What I’m calling “real material value” are things like physical assets and profit generation capacity. C…

What I’m actually trying - and apparently failing - to do is get you to reassess your misplaced confidence. You have a toy-like, airbrushed conception of value that is doing you an analytical disservice. If you’re in finance and interested in value, find a great textbook and get to reading. It’s a fascinating topic. I’ll leave you with Goethe: “Doubt grows with knowledge.”

This comment implies a great sense of knowledge, authority, and superiority on your part. But it doesn't demonstrate any of that. You couldn't even recommend specific reading. Just "a great textbook".

A pretty frustrating comment, honestly.

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