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Coinbase’s chief product officer will leave with a $105M payday

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Re: Coinbase’s chief product officer will leave with a $105M payday

#281
post #140

Earlier quoted context omitted.

This philosophy of praising exploitation is actually one of the things I liked least about America and one of the things I found most refreshing when I emigrated. It's pervasive through American society that pulling the wool over the eyes of shadowy entities (large corporations, the government etc...) is a virtue but every time it's done it pulls a lot of money out of the hands of people that could use it more and fu…

In the 90s, my relatives first came to the US. In those days, there were newspaper dispensing machines on the sidewalk, which worked like this: 1. It was a box on the sidewalk with a locked swing-out door facing forward. 2. You put coins into the machine and the door unlocks. 3. Inside are all the newspapers. You put your hand in and take only one. 4. You close the door and it locks. The first thing my relatives aske…

On the one hand, I guess you need a certain level of social trust for newspaper dispensing machines to work. On the other hand, there's very little value to be gained by taking 10 newspapers. I suppose you can hawk them on the street for a discount but the benefit is pretty small.

Re: Coinbase’s chief product officer will leave with a $105M payday

#282
post #77
post #37

Headlines from last week: > It was announced on Jan. 10, 2022 that Coinbase would be slashing its workforce by about 20% (which translates to 950 employees) in an effort to reduce overall operating expenses by 25%. > This is the second round of layoffs for the crypto exchange, as they laid off 18% of the workforce last June as the crypto winter sets in and the space attempts to recover from the disastrous year. why e…

Because he got it as a compensation when they hired him? Now he is just selling his stake after he left.

HN is advocating for crawling back previously agreed compensation if an employee doesn't do their jobs well.

Oh boy. Software engineers would be in shambles.

Re: Coinbase’s chief product officer will leave with a $105M payday

#283
post #171

Earlier quoted context omitted.

Coinbase seems to have from the very beginning overindexed on "resume" hires and not people who actually care about crypto eg Ivy League/Google/TradFi hires.

That the most unique take I've read on this. Any more details or are you just speaking from experience?

Not sure what you mean. Feel free to look at the background of all the big hires they've made. It's lots of Ivy League/Google/LinkedIn/Banking/Consulting people.

Re: Coinbase’s chief product officer will leave with a $105M payday

#284

Earlier quoted context omitted.

This guy was a part of creating that negative sum game in the first place. He shouldn’t be celebrated.

The only people who should be upset are the those who provided the cash that is going into this person's pockets. Otherwise, I don't have a care in the world about this departure compensation. It impacts me in no way.

One is allowed to be upset. Woke

Re: Coinbase’s chief product officer will leave with a $105M payday

#285

Earlier quoted context omitted.

This is like the opposite of hustle. Don't you think you are supporting getting massive compensation for essentially being bad at your job? Do you think it's ok because it happens to a large corporation? I can understand feeling happy at the big corporation's misery but respect isn't what is owed to this dude. Edit: Another thing, at least some of that shareholder money came from retail investors. Even if it's 1% it'…

"hustle" in this case is meant in the informal, pejorative way (a swindle)

Why would you respect a swindle man? That is what the rest of my post is talking about.

Re: Coinbase’s chief product officer will leave with a $105M payday

#286

All I can say is, damn, props to him. Tricking the coinbase execs into giving him one of the highest paying packages for any product exec in history and delivering so little value in return is the kind of heist we should all aspire towards.

By "so little value" are you saying that whatshisface was/is a bad product leader or are you saying that it's impossible for anything to be valuable when it's crypto-adjacent?

Re: Coinbase’s chief product officer will leave with a $105M payday

#287
post #283

Earlier quoted context omitted.

That the most unique take I've read on this. Any more details or are you just speaking from experience?

Not sure what you mean. Feel free to look at the background of all the big hires they've made. It's lots of Ivy League/Google/LinkedIn/Banking/Consulting people.

Yeah but how do you know those were not crypto enthu people? I've seen crypto enthusiasts in all walks of society. I thought there was more detail to what you were saying.

Re: Coinbase’s chief product officer will leave with a $105M payday

#288

Earlier quoted context omitted.

For what it's worth, I think GP was being sarcastic.

Oh I'm not being sarcastic. The lemmings at the top of most tech companies are highly overpaid and continually fuck up Their One Job. The rare person who manages to trick them into paying a lot for little-to-no services has figured out the game and deserves some praise.

In my idiotic idealistic opinion, people who build useful things, deserve praise.

Re: Coinbase’s chief product officer will leave with a $105M payday

#289
post #280

Earlier quoted context omitted.

Yup. Because the way I read it you are saying one thing has value because it's rarer than the other. Maybe I read it wrong?

>so that's what people value. It's not what I value, it's an observation of what others value. I know people couch their own opinions in the views of others a lot, but nowhere did I express personal feelings. It was just trying to dig one layer deeper to contextualize the situation OP was talking about (Americans valorizing confidence games).

Gotcha. I misread and wrote the comment addressing you.

Re: Coinbase’s chief product officer will leave with a $105M payday

#290

Earlier quoted context omitted.

Not quite orphanages, but it's definitely poor people: * Locked out of traditional financial industry, more people of color are turning to cryptocurrency [0] * Why the crypto crash hit black Americans hard [1] [0] https://archive.is/slVPj [1] https://archive.is/KhbuI

Can't anything just be intrinsically bad anymore, for practically everyone? Crypto scams and ubiquitous surveillance would be on my list, for example.

A lot (most?) of the public would say that child exploitative imagery is just such a 1-bit issue: we should always come down on it as hard as possible with whatever powers necessary. But a lot of the more libertarian/free-speech type thinkers that are highly represented on HN think that it is not by any means a black and white/1-bit issue, that it’s actually really nuanced.

On the other hand blockchain and Internet ads and seemingly little else routinely get the 1-bit treatment on HN all the time: GP is going grey at the time of writing for saying roughly that crypto hurts orphans.

I don’t understand this, and since my theories about why tend to be pretty polarizing I’ll leave it at: I’m against 1-bit thinking on HN. I’m guilty of it sometimes, but I try not to be.

Edit: Misread GP with apologies. I think the larger point stands.

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