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Coinbase lays off around 1,100 employees

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Re: Coinbase lays off around 1,100 employees

#691

Post by Johnny555 »

hervature wrote: post #687
Johnny555 wrote: post #620

Earlier quoted context omitted.

Controlling a company requires shares, and shares are networth, it is good that companies are controlled by people who most understand them, and those are the people who started/built them. Voting shares don't have to have monetary value. Rememeber Google's IPO where the founders had stock with 10 votes per share, or Berkshire Hathaway's Class B stock with 1/10000th the voting rights as class A? So a founder could re…

> Voting shares don't have to have monetary value. :facepalm: If you control a company worth $1T, someone is going to be willing to buy your share. If you're implying that voting shares don't have to be transferable, the question becomes how do you pick the next leader? The current owner gets to appoint the next in line? That's basically monarchy. The history I was taught says that only those at the top thrive under…

How is that different than the current situation? If I own a controlling share of a company, I don't have to sell my shares to the highest bidder, I can decide to transfer them to my grandmother. Why does it matter if money is exchanged or not?

Re: Coinbase lays off around 1,100 employees

#692

Post by stevenjgarner »

kelp wrote: post #644
stevenjgarner wrote: post #613

Earlier quoted context omitted.

Depending on the jurisdiction, property taxes are usually a function of the property valuation. So at least if the property value goes down, theoretically so do your annual property taxes. The problem with a theoretical wealth tax, is that when the asset value goes down, too late you've already paid your wealth tax.

I'm actually in this situation on my property taxes. In San Francisco there is a 2.5 month window to appeal your property tax assessment. I did that for 2020, and was successful (the hearing was like a year+ later) and they gave me a refund. I failed to do it for 2021, because I was under the mistaken assumption that they'd they'd also adjust my 2021 assessment after my appeal. They didn't. I guess that's on me? I ju…

I thought things are capped in California, that Under Proposition 13, the annual real estate tax on a parcel of property is limited to 1% of its assessed value. This "assessed value" may be increased only by a maximum of 2% per year until, and unless, the property has a change of ownership? No such joy in Texas (yet).

Re: Coinbase lays off around 1,100 employees

#693

Post by rglullis »

pkulak wrote: post #641
rglullis wrote: post #368

Earlier quoted context omitted.

True, but my argument is that this is the wrong metric to be regulated. I don't care that there are people richer than me, I care that there are people with too much power on their hands.

I'm okay with a poor, powerful person. That means they have their power through some means other than wealth accumulation; popular election or something. People who are powerful because of money usually didn't even get the money themselves. It's the new hereditary monarchy. Get rid of all the money, and you get rid of the undue power as well.

> Get rid of all the money, and you get rid of the undue power as well.

That's philosophically, historically and biologically incorrect. Not to mention that it is incredibly naive.

Fights for power happen everywhere in nature. Occasional imbalances are not the problem. The problem is when a certain group or individual manages to concentrate so much power that they get control over groups.

> That means they have their power through some means other than wealth accumulation; popular election or something.

Although I could challenge you on this idea (quick, tell me one "poor" politician who was elected and continued poor after taking office), this is not the type of "power" that we are talking about, is it? In any reasonable democracy, the only "power" from an elected officer is the one vested by the people, for the people. Any elected officer that abuses their position for their own personal gain should be removed from office.

The "power" we are talking about here is the power to do things uncontested, or to get other people to act in ways that are against their own interests and values. This is more visible with rich businessmen like Bezos and Musk, but it also happens via conglomerates like Disney that use their media and news properties to openly mold society in ways that serve them, or the Union leader who puts any of their opponents on a no-work list.

Re: Coinbase lays off around 1,100 employees

#694

Post by tbrownaw »

idiotsecant wrote: post #640
stevenjgarner wrote: post #604

Earlier quoted context omitted.

A wealth tax implies a tax on unrealized appreciated assets, which is beyond bizarre IMHO. So you buy a house for $500k somewhere. It surges in value to $1.2 million. You therefore have an unrealized capital gain of $700k. You are NEVER going to get that money until you sell it, and when you do you are going to pay a whopping amount of capital gain tax. But a wealth tax implies you pay that capital gain tax now. Okay…

Yes, I see your point. 'Wealth' is what rich people have, in which case taxes on it's value don't make sense! That's ludicrous! 'Property', on the other hand, is what normal people have. The value of property must be taxed, for the good of us all! Anything else would be silly.

The argument you're resorting to attempted mockery to oppose is not the argument that the comment you're responding to made.

Re: Coinbase lays off around 1,100 employees

#695

Post by 0xLaMDA »

cute_boi wrote: post #226
ipnon wrote: post #107

Earlier quoted context omitted.

My claim is that if these companies weren't useful than they wouldn't exist. People hate Bezos but they spend their money at Amazon. Methinks they doth protest too much!

People spend money on Amazon because it is convenient? However, I don't consider it to be net positive in current society. In many countries like India, many mom & pop stores are closed due to Amazon. They are destroyed thousands of business. Amazon is funneling money into its company which would have been distributed to multiple people. Seeing this drastic implications even CCP tried to clamp services like Amazon, A…

No post body was provided.

Re: Coinbase lays off around 1,100 employees

#696

Post by synicalx »

tomcam wrote: post #67
izzydata wrote: post #57

Earlier quoted context omitted.

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?

Less than billions

Re: Coinbase lays off around 1,100 employees

#697

Post by akoncius »

jcampbell1 wrote: post #670
mkr-hn wrote: post #615

Earlier quoted context omitted.

It's not working. Jeff Bezos said he can't think of anything to do with his money other than build rockets while people die in his warehouses. Too much money makes people out of touch. I don't think billionaires are evil, I just think they don't know what life is like for people who still have a concept of "cost of living."

I know a few people that like working at Amazon and the pay and benefits are good. Do you know people who died there? Are your friends cursed?

it is poor argument. you cant see wifi but it exists.

if your friends are fine does not mean that there are no issues there. plenty of news articles were published about inhumane working conditions where people cannot go to toilet even.

Re: Coinbase lays off around 1,100 employees

#698

Post by rescripting »

jcampbell1 wrote: post #670
mkr-hn wrote: post #615

Earlier quoted context omitted.

It's not working. Jeff Bezos said he can't think of anything to do with his money other than build rockets while people die in his warehouses. Too much money makes people out of touch. I don't think billionaires are evil, I just think they don't know what life is like for people who still have a concept of "cost of living."

I know a few people that like working at Amazon and the pay and benefits are good. Do you know people who died there? Are your friends cursed?

A quick search turns up tons of stories like https://amp.theguardian.com/technology/2019/oct/17/amazon-wa...

We’re not talking about improving the break rooms for corporate SWEs.

Re: Coinbase lays off around 1,100 employees

#699

Post by synicalx »

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.

A company like that would 100% outsource their customer service to the lowest bidder

Re: Coinbase lays off around 1,100 employees

#700

Post by cultofmetatron »

john_yaya wrote: post #93
ipnon wrote: post #84

Earlier quoted context omitted.

Billionaires are highly correlated with millionaires, which don't seem to be beyond the pale for critics of wealth inequality. Countries with billionaires rank much higher on quality of life than those without. It hurts to see Bezos and Musk in yachts but the side effect of their wealth is companies like Amazon and Tesla that have a net positive effect on society in terms of products and employment.

“companies like Amazon and Tesla that have a net positive effect on society” Citation needed.

I do love that we have viable electric cars and that I can order something on amazon and have it at my door in 2 days. Seriously, try living in a developing country and have ANYTHING delivered...
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