Bottom line, crypto winter is coming, it will prob last 4 years like in westheros.
Coinbase is rescinding already-accepted job offers
451–460 of 461 posts
Re: Coinbase is rescinding already-accepted job offers
#452Earlier quoted context omitted.
Oh I’m sure all great fortunes were built by people who believe stocks and baseball cards are equivalent investment vehicles.
> equivalent investment vehicles This is borderline arguing in bad faith. You’ll need to demonstrate a good faith argument to continue this conversation. All value is psychological. Money is a behavioral coordination system. Believing gold has an intrinsic value that justifies trading at $1.8k an oz is sufficient for gold to trade at that value - regardless of gold’s real utility to any holder of gold. It’s the belie…
You are right that psychological value is all that matters, you just need to take your logic one step further.
When the Dole company buys a banana plantation, it is because they believe that consumers will want to buy bananas in the future. That future may or may not become "real". This is where your logic ends. You have proven that perceived value is all that matters and have stopped.
You need to understand that a year later millions of bananas will be ready to harvest. And grocery stores will be placing or not placing orders to have those bananas delivered. So that perceived value is now hitting reality. The crypto people have done a pretty good job kicking the can down the road and avoiding reality hitting their perceived value, but it is hard to keep that up forever.
Re: Coinbase is rescinding already-accepted job offers
#453Earlier quoted context omitted.
Yet somehow half the people seem to be surviving in SF making that and less.
The number doesn't jive for me either. You would have to go through how the median income number is formulated. It may not be how you think. I can't tell you the number of times I've seen this with broad statistics.
Just maybe in your bubble you think everyone is making a lot in SF?
These are the numbers from the census bureau. It still says $119K
https://www.census.gov/quickfacts/sanfranciscocitycalifornia
Median isn’t some obscure statistic that’s hard to calculate.
Re: Coinbase is rescinding already-accepted job offers
#454Earlier quoted context omitted.
> Companies that have high standards are far more interesting places to work at and with more interesting colleagues. I have quite high standards when I hire, which is why I don't use leetcode to assess. :) I can get much better data more quickly without it. And, indeed, the best places I've ever worked with the smartest people I've ever known have not used these types of problems in the interview. I've personally so…
> I have quite high standards when I hire, which is why I don't use leetcode to assess. :) How would you go about checking if somebody is qualified in an interview? Using his past experience may help but too often it can be embellished or flat out lied about. That's why these algorithm interviews became popular in the first place, to my knowledge.
> How would you go about checking if somebody is qualified in an interview?
It depends on the job, but for coding I've had great luck asking them to bring some code they were proud of in to the interview. Language doesn't matter, subject doesn't matter.
And then in the interview I ask them to teach me how it works. It becomes apparent in no time if they don't know what they're doing (or stole it). And if they can tell me about it, I learn how well they understand their own system--do they only understand it well enough to code it, or do they understand it well enough to teach it? I also learn if they're a good communicator. And if they're a good culture fit. And if they're enthusiastic about coding. I can also ask probing questions about design decisions and shortcomings.
That covers the "how well do they code" part, but falls a little short on the problem-solving part. But I can come up with on-the-fly questions (often about the code they brought in) that exercise those muscles. "What would you do if this data weren't available?" "What if you needed more guaranteed uptime?" "What if you needed to process 1000x more data in the same timeframe?" These are more relevant questions.
I'm after someone who learns fast. I'll take someone who knows a little and learns fast over someone who knows a lot and learns slow 9/10 times.
(Once I had someone bring in a device driver written in C for a JavaScript gig. They were hired. Another time we hired a dev with zero experience in the platform, language, or framework. Worked out great.)
If they ace leetcode-style challenges, I know they're good at _that_, but I don't trust it as a proxy for the other things I want to know, above.
Re: Coinbase is rescinding already-accepted job offers
#455Earlier quoted context omitted.
Oh I’m sure all great fortunes were built by people who believe stocks and baseball cards are equivalent investment vehicles.
> equivalent investment vehicles This is borderline arguing in bad faith. You’ll need to demonstrate a good faith argument to continue this conversation. All value is psychological. Money is a behavioral coordination system. Believing gold has an intrinsic value that justifies trading at $1.8k an oz is sufficient for gold to trade at that value - regardless of gold’s real utility to any holder of gold. It’s the belie…
What, seriously, what are you talking about with the bad faith? We’re responding to your comment which said baseball cards and stocks worked the same way.
It’s bad faith to point out how wrong what you said was? Sorry about that, guess we can’t talk anymore.
Re: Coinbase is rescinding already-accepted job offers
#456Earlier quoted context omitted.
> When I was an underboss in a firm that was going down, I just told people. Other than in the mafia, what is an underboss? [1] [1] https://en.wikipedia.org/wiki/Underboss
It's not difficult to infer what OP metaphorically meant from the tree diagram in your linked article.
Why should one need to read an unrelated page posted by a 3rd party in order to infer what someone meant?
It is not-improbable that the GP intended a mafia reference for how the layoffs were handled. Your choosing to infer instead of learning produces incorrect results. i.e. It's best not to assume.
Re: Coinbase is rescinding already-accepted job offers
#457Earlier quoted context omitted.
You are not describing investing but speculating. Yes there is a difference.
Arguably retail investors aren't actually investors either, but savers, speculating on whatever assets they buy having value when they need their dollar value.
See the second sentence.
Re: Coinbase is rescinding already-accepted job offers
#458Earlier quoted context omitted.
> And yet that adoption process took around 300 years. People used ledgers right after they were created, by definition, and long enough to go through all these years without that practice disappearing and without speculation to prop them up. So they brought value from the very beginning. Speculation prevents this logic from applying to blockchains (the value is making money by extracting it from gullible users). > t…
>>Which trend? 1. Uniswap now has deeper liquidity on several major trading pairs than the leading centralized crypto exchanges, including Coinbase and Binance: https://uniswap.org/blog/uniswap-v3-dominance 2. The volume of stablecoins on the blockchain is growing rapidly, notwithstanding the recent collapse of LUNA/UST: https://www.statista.com/statistics/1255835/stablecoin-marke...
> notwithstanding the recent collapse of LUNA/UST
If anything, that's an invitation to wait the next financial crisis to see what really is left of the "trend".
Re: Coinbase is rescinding already-accepted job offers
#459Earlier quoted context omitted.
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.
Agree with the sibling that people make insane gambles all the time.
But beyond that, I don't think your premise holds true. People do often start companies because they believe in (or even have a passion for) the thing their company will be doing. But people often just start companies because they believe those companies can make them money. That doesn't mean that the thing the company does is going to be good and sustainable over the longer term. Just that there's some money to be made, even if it's on the backs of speculators and gamblers that don't provide much value to the ecosystem.
Re: Coinbase is rescinding already-accepted job offers
#460Earlier quoted context omitted.
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.
Guilty until proven innocent.
Not really. Just you don't know what you don't know. You're not going to get a reliable feel for someone's motivations unless you actually know them and spend a bit of time talking to them about what they're doing. A "cofounder wanted" post on HN doesn't remotely cut it.