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Coinbase lays off around 1,100 employees

coindesk.com

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Re: Coinbase lays off around 1,100 employees

#61

Post by jstanley »

Johnny555 wrote: post #45
sillysaurusx wrote: post #15

I 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…

People keep pointing to Armstrong's $110M house like it's some sort of injustice. If you think billionaires should exist at all, then that's one of the least-bad injustices imaginable Ok, I'll admit it, billionaires should not exist at all, there should be a heavy wealth tax that makes it hard to become a billionaire. Will a CEO work less hard if he (and his peers) can only ever gain $100M in net worth before a wealt…

> Will a CEO work less hard if he (and his peers) can only ever gain $100M in net worth before a wealth tax on assets kicks in?

He'll certainly work a lot less hard after the wealth tax kicks in.

Re: Coinbase lays off around 1,100 employees

#62

Post by tomcam »

Johnny555 wrote: post #45
sillysaurusx wrote: post #15

I 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…

People keep pointing to Armstrong's $110M house like it's some sort of injustice. If you think billionaires should exist at all, then that's one of the least-bad injustices imaginable Ok, I'll admit it, billionaires should not exist at all, there should be a heavy wealth tax that makes it hard to become a billionaire. Will a CEO work less hard if he (and his peers) can only ever gain $100M in net worth before a wealt…

There are plenty of people in the world who would think that anything over $500/month is way more than enough for one person. Should your compensation be reduced to that amount?

Does someone earning more than you hurt you?

Also… do billionaires employ people? Do you want their employees to have their jobs seized from them when the johny555 tax goes into effect?

Re: Coinbase lays off around 1,100 employees

#63

Post by DoubleDerper »

Geee wrote: post #50
joshmarinacci wrote: post #40

Coinbase had over 5k employees?!!! WTF. What were they all doing?

Probably customer service. They have about 100 million customers, so 1 employee per 20000 customers.

Coinbase is notoriously poor at customer service, so this doesn't make sense.

https://news.ycombinator.com/item?id=27653022

Re: Coinbase lays off around 1,100 employees

#64

Post by oh_sigh »

Johnny555 wrote: post #45
sillysaurusx wrote: post #15

I 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…

People keep pointing to Armstrong's $110M house like it's some sort of injustice. If you think billionaires should exist at all, then that's one of the least-bad injustices imaginable Ok, I'll admit it, billionaires should not exist at all, there should be a heavy wealth tax that makes it hard to become a billionaire. Will a CEO work less hard if he (and his peers) can only ever gain $100M in net worth before a wealt…

I'm just a run of the mill average joe, who has a rock that has been in my family for generations. Turns out some weird little cult likes my rock and wants to buy it for $1B.

Should I be forced to sell my rock, because I'm getting a $500M tax bill from the government because some weird little cult said they would pay $1B for it - regardless of whether I want to sell my rock?

Re: Coinbase lays off around 1,100 employees

#65

Post by ralston3 »

sillysaurusx wrote: post #15

I 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…

True.

But I don't think it's so much the firing, as it is the Coinbase telling new hires "Offers won't be revoked". But then, not only revoking said offers, but then additionally firing 1,000+ people.

They're experiencing a bit of a PR relations nightmare ATM. Curious to see if this might hurt them with hiring going forward.

Re: Coinbase lays off around 1,100 employees

#67

Post by tomcam »

izzydata wrote: post #57
sillysaurusx wrote: post #15

I 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…

I don't think billionaires should exist, but I also don't think these employees have been wronged. That is a pretty generous severance package.

How much money should people be allowed to have?

Re: Coinbase lays off around 1,100 employees

#68

Post by qbasic_forever »

sillysaurusx wrote: post #15

I 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…

I think workers should organize and bargain collectively with their employer on their working conditions and policies for layoffs.

Re: Coinbase lays off around 1,100 employees

#69

Post by halfmatthalfcat »

Johnny555 wrote: post #45
sillysaurusx wrote: post #15

I 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…

People keep pointing to Armstrong's $110M house like it's some sort of injustice. If you think billionaires should exist at all, then that's one of the least-bad injustices imaginable Ok, I'll admit it, billionaires should not exist at all, there should be a heavy wealth tax that makes it hard to become a billionaire. Will a CEO work less hard if he (and his peers) can only ever gain $100M in net worth before a wealt…

Why stop at $100M? Why can't $1M be the most?

Re: Coinbase lays off around 1,100 employees

#70

Post by oh_sigh »

DoubleDerper wrote: post #63
Geee wrote: post #50

Earlier quoted context omitted.

Probably customer service. They have about 100 million customers, so 1 employee per 20000 customers.

Coinbase is notoriously poor at customer service, so this doesn't make sense. https://news.ycombinator.com/item?id=27653022

1 employee per 2000 customers seems like it makes perfect sense as to why customer service would be bad.
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