71–80 of 1001 posts
Genuine question: At what point do we actually declare that we are in recession. Do we wait for GDP figures out these signs are enough to assume we are in bear markets now.
Would 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.
Also, its $133M, but let's be honest it's really like $110M for the land and then a $20M mansion on it.
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There's nothing wrong with people collectively giving someone money.
With the context of what wealth inequality is doing to society and what political power raw money brings to people, I posit there is a line where it is wrong.
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…
Probably the best advice you can give someone in the tech industry. Even when I'm happy and content in a position, I'm still constantly looking and interviewing.
I got burned pretty bad at two startups in a row where the founders were pitching rainbows and unicorns and one company just went bust and I showed up one day and they sent everybody home - no severance, no reference, nothing. The other scenario, one of the founders fled the country with the money and left everybody high and dry.
Both were eye opening enough where now I have multiple backup plans, I network like crazy, I listen to what people are saying, I watch and see who's leaving the company. If you see higher executives leaving en masse, its a lot different then a few low level sales people. In both of the above situations, I missed a lot of red flags I would've caught today.
Being an employee in a high risk field like crypto is a tough business. You are everyday one day away from a massive market crash or crypto heist to be let go. (Yes, conventional companies too, but not to this extent)
On the other hand they could've been growing much more modestly, and then there wouldn't be any layoffs. Not much different to other IPOing companies, many are doing layoffs now. Crypto has little to do with it.
This isn’t a McDonald’s or Walmart hiring unskilled labour at low rates, knowing full well that people are replaceable.
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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?
You're making bizarre nonsensical arguments here--slippery slope, strawman, etc.
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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.
Coinbase had over 5k employees?!!! WTF. What were they all doing?
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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?
Earlier quoted context omitted.
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?