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Coinbase lays off around 1,100 employees

coindesk.com

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Re: Coinbase lays off around 1,100 employees

#101

Post by jelliclesfarm »

ipnon wrote: post #84
Johnny555 wrote: post #45

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…

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.

Not to mention little old ladies, 50 year old ex fire fighters and retired unionized school teachers get full generous pensions because of stock market value of companies created by billionaires

Re: Coinbase lays off around 1,100 employees

#102

Post by roflyear »

sillysaurusx wrote: post #15

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…

For context, that is about $44m of severance that they are paying out as a part of these layoffs, if we assume about $150k average salary.

Re: Coinbase lays off around 1,100 employees

#103

Post by shrimpx »

izzydata wrote: post #82
tomcam wrote: post #67

Earlier quoted context omitted.

How much money should people be allowed to have?

There is obviously no exact dollar amount. I don't believe everyone should have the same amount, but there should probably be some lower and upper limit. Maybe it is possible to calculate the difference between the two. Perhaps the upper limit would be 10000x that of the lower limit. Just as an example. There being a lower limit also implies some kind of universal basic income. Theoretically partially supplied by the…

What happens to the excess is what’s interesting. And if it’s in volatile assets, how do you shave off the top? E.g. your stocks go way above the limit in a bubble but then crash by 50% right after you got taxed.

Re: Coinbase lays off around 1,100 employees

#105

Post by foobar2021 »

qbasic_forever wrote: post #76
tomcam wrote: post #62

Earlier quoted context omitted.

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 can put a wealth tax on billionaires without putting taxes on poverty level workers ($500/month in the US). You're making bizarre nonsensical arguments here--slippery slope, strawman, etc.

The top 1% complaining about the top 0.01% while ignoring 99% of the world is a nonsensical argument?

Re: Coinbase lays off around 1,100 employees

#106

Post by kube-system »

djbusby wrote: post #81
tomcam wrote: post #67

Earlier quoted context omitted.

How much money should people be allowed to have?

100x of the average net-worth in the 50km radius of their primary residence.

You have invented maybe the best way to concentrate wealth even further than it already is.

Re: Coinbase lays off around 1,100 employees

#107

Post by ipnon »

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.

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!

Re: Coinbase lays off around 1,100 employees

#108

Post by evanlivingston »

oh_sigh wrote: post #64
Johnny555 wrote: post #45

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?

Yes?

Whether you're receiving the value of the asset or not, you're locking up the value of the asset and preventing a larger group of people from benefiting from the value of the asset, which is sort of the point of a wealth tax.

Re: Coinbase lays off around 1,100 employees

#110

Post by nojito »

sillysaurusx wrote: post #15

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…

Didn't they pay a CPO $600m+?
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