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Coinbase cuts staff by a further 20%

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Re: Coinbase cuts staff by a further 20%

#461

Post by robertlagrant »

danielheath wrote: post #142
robertlagrant wrote: post #19

Earlier quoted context omitted.

They don't see the difference in mechanisms. Getting rich through pump and dump vs getting rich through making or doing something people find valuable.

To be fair, it's a little bit harder to see the difference between pump & dump vs getting born rich.

That's neither fair nor obvious.

Inheritance makes providing value worth doing past the point of one's own comfort. Many people's work becomes most valuable in their latter years, and so we would want them to keep working and pass on wealth, as opposed to either stopping working or just splashing their money out on nonsense.

The principle of being able to own things and work to one's own good, and the good of those whom one choosing to transfer it to, is the fundamental basis on which we now exist in the most advanced societies the world has ever seen, and the most rapidly advancing societies. It's not perfect, but every authoritarian attempt to make things better by centralising power in the name of fairness has gone terribly.

Pump and dump schemes are just nothing like that.

Re: Coinbase cuts staff by a further 20%

#462

Post by throwaway5959 »

_fat_santa wrote: post #188
jesuscript wrote: post #105

Earlier quoted context omitted.

My best guess is that raising funding helps raise the valuation, especially as they approach IPO. So raise money for the sake of raising the valuation. You don’t really need the money, but you got it. What are you going to do with it to appease the investors? Well you gotta act like you are doing something with it, especially something that shows growth. Hire more. Hire more because we imagine more. Keep imagining un…

I interviewed with them last year and while I didn't get the job, looking back now I'm kind of thankful it turned out how it did. From my limited perspective interviewing there, it seems like they started branching out into all things crypto. One manager I interviewed with explained that they wanted to become the "Amazon of Crypto" where any service related to crypto such as wallets, NFT's, etc are all on Coinbase. I…

I feel the same way about interviewing with OpenDoor. The hiring manager was so condescending and when I didn’t get an offer I was bummed, but their stock is down like 90% since then so… yeah. “Sorry about your RSUs bro”.

Re: Coinbase cuts staff by a further 20%

#463

Post by tempsy »

SilverBirch wrote: post #87

Coinbase is a weird company, because it's got such an obvious comparable: CME Group. CME Group has about 3500 employees, did 1.2bn in revenue last quarter with 680m net income. Then you have coinbase now trimmming to about the same number 3500, 590m revenue and a net income loss of 550m. That's right, as far as I can see, Coinbase loses $1 for every $1 of revenue. Firstly, I don't see how Coinbase needs as many peopl…

how is CME a good comparison? they aren’t a retail consumer facing company

a company like Coinbase needs hundreds if not thousands of support staff like a retail bank would that scales with the total active customer base.

the total number of employees doesn’t tell you how many are in a support function.

Re: Coinbase cuts staff by a further 20%

#464

Post by SunlightEdge »

SunlightEdge wrote: post #46

I lost a little bit of money investing in crypto on Coinbase (I put about £500 in which shrank to £200 - over the course of past 2 years and for past year I mostly have just had money in sterling - the market looked terrible) I finally decided yesterday to cash out of coinbase yesterday - they charged me £3 to withdraw my money!! In the scheme of things I didn't lose that much money - not really. But personally I can…

Just to clarify - if I were to buy crypto again, I would buy from Coinbase.

I am not positive about the future of crypto though. And I said before it's also telling that I had to use a spreadsheet to look at how much I put in, fees, money lost etc. On Coinbase. Again I suspect it's because a lot of people are losing money and the owners want that information hidden.

Re: Coinbase cuts staff by a further 20%

#466

Post by RestlessMind »

pjc50 wrote: post #293
danuker wrote: post #215

Earlier quoted context omitted.

If there's less crypto being issued than fiat, and demand were constant as a % of people's wealth (which I admit is a big if), then crypto is bound to go up. There is no end date to government currency debasement.

The supply of crypto isn't limited because people can just mint new chains. And of course, the more the number goes up on a chain the less attractive it is to actual users as opposed to holders.

> The supply of crypto isn't limited because people can just mint new chains.

It is silly to lump all crypto coins in a single bucket. BTC is very different than DOGE or SHIB. I guess your parent post was about BTC supply being limited.

Re: Coinbase cuts staff by a further 20%

#467

Post by dwighttk »

zeven7 wrote: post #429
dwighttk wrote: post #161

Anyone else notice that Coinbase changed its price trend in your assets from “beginning of time period to now” to “lowest point to now”? I haven’t been able to find a view that shows a downward trend since…

I'm looking around the web app and don't see anything like this. Is this something in the mobile app? On the web app I see options for viewing performance over reasonable periods like 1d, 5d, 1w, 1y, all

I’m going to those views but the x”past year” and x”past day” and x”past week” numbers are not showing the change over the period stated

Re: Coinbase cuts staff by a further 20%

#468

Post by deadbeeves »

hgsgm wrote: post #456
deadbeeves wrote: post #354

Earlier quoted context omitted.

Right. In a situation where people may die, the leader must risk his own life to protect the lives of those under him. In a situation where people may lose their livelihoods, the leader should risk his own livelihood to protect the livelihoods of those under him. How is this analogy inappropriate?

Did you know that the military commander-in-chief and generals do not put their own lives in the fromt of the battle?

Perhaps they should.

Re: Coinbase cuts staff by a further 20%

#469

Post by [deleted] »

jesuscript wrote: post #105
SilverBirch wrote: post #87

Coinbase is a weird company, because it's got such an obvious comparable: CME Group. CME Group has about 3500 employees, did 1.2bn in revenue last quarter with 680m net income. Then you have coinbase now trimmming to about the same number 3500, 590m revenue and a net income loss of 550m. That's right, as far as I can see, Coinbase loses $1 for every $1 of revenue. Firstly, I don't see how Coinbase needs as many peopl…

My best guess is that raising funding helps raise the valuation, especially as they approach IPO. So raise money for the sake of raising the valuation. You don’t really need the money, but you got it. What are you going to do with it to appease the investors? Well you gotta act like you are doing something with it, especially something that shows growth. Hire more. Hire more because we imagine more. Keep imagining un…

[deleted]
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