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Coinbase cuts staff by a further 20%

coinbase.com

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Re: Coinbase cuts staff by a further 20%

#34

Post by jeswin »

irl_chad wrote: post #11

[flagged]

> To me, seeing crypto on a resume means the engineer is a true believer in viability of crypto, and therefore not smart enough to do well in a big boy company.

I don't believe in crypto myself - but your statement sounds a bit egotistic. Should employees work at a crypto company (such as CoinBase) only if they truly believe in crypto and not for say, a good pay? The second statement about smartness too, doesn't seem like a good thing to say.

Re: Coinbase cuts staff by a further 20%

#35

Post by cj »

blitzar wrote: post #10
drstewart wrote: post #5

>accountability rests with me as the CEO There it is. Rings incredibly hollow when the same line was trotted out just a few months ago with zero impact or meaning behind the statement, given it clearly didn't change anything.

> accountability rests with me as the CEO "As the accountability rests with me, I will be taking a 25% cut on my $60 million bonus this year"

For others reading: the $60 million number is his comp from 2020, $57 million in the form of stock options.

I doubt he’s getting anything close to that in 2023.

Re: Coinbase cuts staff by a further 20%

#36

Post by danjac »

irl_chad wrote: post #11

[flagged]

I'm deeply crypto-skeptic but that seems grossly unfair.

I've worked for a number of startups that, in retrospect, had terrible business models. Does that make me a "true believer" in their viability? Maybe, but then I learned better. Or maybe I joined because I needed a paycheck and they had a good offer. Either way, my performance as a developer had nothing to do with the viability of their business model.

Even if you make the argument that "crypto is a terrible idea as a technology, so anyone who engaged with it is stupid", well, again, in a long enough career you maybe make a wrong pick every now and again, especially early on in your career when it's harder to distinguish hype from reality. A good developer would learn from this and be a more valuable employee as a result.

Re: Coinbase cuts staff by a further 20%

#37

Post by irl_chad »

guntherhermann wrote: post #13
irl_chad wrote: post #11

[flagged]

That seems needlessly ideological. If the engineer can do what you want of them what does it matter what their employment history is?

A lot is being demonstrated with it being on your resume:

1) enjoying the technical challenges of crypto is to me like a guilty pleasure. So do I, but I don’t tell the world about it (outside of this HN comment).

2) such a high % of the people involved in crypto are doing something shady or illegal. Personally I would bet that only a slim slim slim monitory of US crypto holders pay their taxes accurately. For any top security clearance jobs in the US, you can’t have any major outstanding debts, because they could be used as leverage against you. In the same way, hiring a cryptobro looks like an unnecessary risk to me.

3) they probably can’t do the job I need them to do. For example, any front end change to our sales funnel requires a sign off from compliance. Can I trust a cryptobro to work in an environment with stricter rules & compliance requirements? Not really.

Re: Coinbase cuts staff by a further 20%

#38

Post by housingisaright »

irl_chad wrote: post #11

[flagged]

is this a serious comment?

Of the tech companies I or acquaintances have worked at, I've personally 'believed in the viability' of maybe 25%. If the tech / pay is good enough I could see myself work at them for sure since its a job. not all jobs require personal investment.

I now see that the username is IRL_CHAD. I feel stupid for falling for a obvious troll

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