221–230 of 616 posts
Earlier quoted context omitted.
This is absolutely untrue. In Europe we work several days/weeks after the layoff notice. You can fire people from the night to the morning only in US
In Europe you have to keep paying the person, but it's not uncommon for them to be told not to come in anymore.
Earlier quoted context omitted.
> Crypto is a zero sum game How come? The same network effects that work for social networks work here, as more people and businesses use crypto, it's value proposition raises quadratically.
Nobody's using crypto for its intended purpose - its value proposition when it comes to payments is just as dubious as it ever was. The vast majority of the attention for crypto has been for its speculative aspect.
It’s been pretty interesting watching YC backed Coinbase get absolutely crushed by FTX, which has a higher % of crypto trading volume despite having less than 10% of the headcount. Crypto is a zero sum game, and the old Paul Graham essays and other tired VC dogmas really only work in positive sum games. FTX was founded by traders which is valuable when the ultimate purpose of the crypto industry is to separate uninfo…
I have never heard of FTX until reading your comment just now. Is it really crushing Coinbase?
Earlier quoted context omitted.
This is absolutely untrue. In Europe we work several days/weeks after the layoff notice. You can fire people from the night to the morning only in US
Did you see the severance the ex-employees are getting? It’s super generous and amounts to months of work. Id rather that than face the humiliation of having to come in for weeks to a company that has fired me. Flexible labor laws are also a major reason Americans are paid considerably more than euros.
I wonder how many cryptoexchanges stop withdrawavals "for technical reasons".
The question is, which ones catch up and resume... and which ones actually ran off with the coins long ago.
Maybe someone should make a betting / prediction-market site for this. Traded in boring USD please :-)
If we follow the weekly updates: 1. First a hiring "slowdown". 2. Hiring freeze and rescinded offers. 3. 18% layoffs. What's the reason behind announcing it in stages? Don't they receive much more negative publicity this way? Or are they really making decisions from one week for the next?
Earlier quoted context omitted.
Isn't this practice pretty common in Finance? I've heard of people who when they resigned (or fired) immediately got their access revoked and were escorted out the door by security (or if they were lucky, swing by their desk to pick up their stuff).
It's very common in Finance or anywhere where employees have "potentially unreasonable access". Often you get perp-walked or called to the boss's office, and someone boxes up everything in your desk for you, and you'll be escorted offsite afterwards. Most will pay you your two weeks or whatever in cash, the risk of an employee using their access to do harm is considered too great. For many other types of jobs, includ…
Really? I assume you're in the USA, and in finance that could be several thousand dollars of cash you're handed.
Everywhere I've worked (UK/EU) would pay you in the same way as they were already paying you, i.e. electronically, or decades ago by cheque. Isn't this much easier?
> If you are affected, you will receive this notification in your personal email, because we made the decision to cut access to Coinbase systems for affected employees. I realize that removal of access will feel sudden and unexpected, and this is not the experience I wanted for you. Given the number of employees who have access to sensitive customer information, it was unfortunately the only practical choice, to ensu…
Asking as a layman to macroeconomics, if you think that the current rash of crypto companies collapsing heralds a greater economic catastrophe, do you have any advice on how to best survive another dot-com style crash?
4 months of COBRA? I thought 18 months was required by federal law?
Earlier quoted context omitted.
Coinbase has survived something like 4 downturns before, the previous ones on the same strategy that they are employing now. So not sure what lessons they are not applying, that others are?
Coinbase has not, however, been through a bear market. Nor has crypto