Previous discussion (694pts, 550 comments)
Coinbase lays off around 1,100 employees
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Re: Coinbase lays off around 1,100 employees
#22Earlier quoted context omitted.
Crypto is dead.
Bold claims like this is what make people look like idiots when things turn around. With experience though, you can tell that people who make bold claims like this were always idiots gambling away their credibility, hoping the 50/50 lands in their favour.
There’s no turnaround coming
Re: Coinbase lays off around 1,100 employees
#23Earlier quoted context omitted.
Bold claims like this is what make people look like idiots when things turn around. With experience though, you can tell that people who make bold claims like this were always idiots gambling away their credibility, hoping the 50/50 lands in their favour.
There’s no turnaround coming
An equally as irrational position as, "Crypto is the best thing ever!"
Re: Coinbase lays off around 1,100 employees
#24Would this be the Coinbase whose CEO just spent $133 million on a home? https://www.ibtimes.com/inside-coinbase-ceo-brian-armstrongs... Capitalism is a harsh mistress.
> Capitalism is a harsh mistress.
Not for CEOs, it's not. He already got rich off the IPO.
Re: Coinbase lays off around 1,100 employees
#25I think if employees feel slighted by being fired, they're fooling themselves. The best mindset is that you could be gone tomorrow. It gives you clarity and purpose. It also happens to be the truth. Coinbase was also extremely generous with severance. 12 weeks plus two for every one year at the company, I think. I've had the experience of being let go without notice and without severance. Devs seem a little more griz…
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Re: Coinbase lays off around 1,100 employees
#26Earlier quoted context omitted.
Crypto is dead.
Bold claims like this is what make people look like idiots when things turn around. With experience though, you can tell that people who make bold claims like this were always idiots gambling away their credibility, hoping the 50/50 lands in their favour.
I'm struggling to find a good analogy to these crypto boom/bust cycles, where the market continues to survive/thrive after the busts. The closest I can come up with is real estate, but there is a core underlying value in real estate in that people need space to live/work/shop/whatever -- so when speculative bubbles burst, there is pretty significant underlying demand. I have a hard time drawing that parallel the crypto. Certainly there are valuable use-cases but the main use-case still seems to be as a speculative investment.
Re: Coinbase lays off around 1,100 employees
#27Why they need these many people for an exchange is puzzling. I’m sure there are many things to do, but shouldn’t they grow their headcount organically and slowly?
When you have obscene amounts of money, your perception of what is normal goes out the window.
Re: Coinbase lays off around 1,100 employees
#28I think if employees feel slighted by being fired, they're fooling themselves. The best mindset is that you could be gone tomorrow. It gives you clarity and purpose. It also happens to be the truth. Coinbase was also extremely generous with severance. 12 weeks plus two for every one year at the company, I think. I've had the experience of being let go without notice and without severance. Devs seem a little more griz…
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I do tiktok dances mostly, but weddings are fun too.
The point is, I'm not sure there are any issues. People don't like change and uncertainty. But uncertainty is a fact of life.
It's so much nicer just to accept it and move on. It helps you in the long run too.
Re: Coinbase lays off around 1,100 employees
#29Earlier quoted context omitted.
Crypto is dead.
Bold claims like this is what make people look like idiots when things turn around. With experience though, you can tell that people who make bold claims like this were always idiots gambling away their credibility, hoping the 50/50 lands in their favour.
In case you didn't get the reference, the Coinbase commercial entirely consists of comments saying "Crypto is dead" with various timestamps going back ten years, and then ... "Long live crypto".
Re: Coinbase lays off around 1,100 employees
#30I see they cut off access for staff before telling them. not an atypical move, but I wonder if they were actually able to revoke all access, given there's systems like Kubernetes where some auth. types can't be revoked once granted.
I would expect there to be a VPN in place with revokable login