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…
Coinbase cuts staff by a further 20%
161–170 of 533 posts
Re: Coinbase cuts staff by a further 20%
#162[flagged]
This is such an odd and close minded way to discriminate against people... I guess people such as yourself always find a way to justify such things
Discrimination based on life choices is called consequences. The Unabomber, while a genius mathematician, will never be offered a position in my company.
Re: Coinbase cuts staff by a further 20%
#163Earlier quoted context omitted.
Why would you need someone with decades of experience to hire an intern or a new grad? It's customary for a lot of companies to have an interviewer which is above or _at_ the level that you are recruiting. Therefore someone with a year or two of experience is perfectly able to hire an intern or someone that will be hired at the same level as them. Looking at Amazon for example, "Hire and Develop the Best" is one of t…
Inexperienced engineers simply don’t have the experience to make good hiring decisions. Having them being involved in the process is fine, but they should be shadowing someone more senior.
Well, most FAANGs would like to disagree. But they must all be wrong.
Re: Coinbase cuts staff by a further 20%
#164Coinbase 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…
This is no different to other tech companies and startups that have over hired during the low interest hype and have aggressively raised money. It is essentially the VC hype cycle and are meant to dump their holdings on retail once the stock is publicly listed.
We're all just see how tech startups and other companies are getting slaughtered over market conditions and NOW need to cut costs, spend less, hire less and turn a profit rather than continued losses.
The era of "Lose money for decades just like Amazon did and so can we" is over.
Re: Coinbase cuts staff by a further 20%
#165Re: Coinbase cuts staff by a further 20%
#166Coinbase 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…
>Coinbase loses $1 for every $1 of revenue.
Huh, I would call that ~$2 lost for every $1 of revenue.
Re: Coinbase cuts staff by a further 20%
#167Coinbase 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…
If any startups want to put me on payroll just to increase their headcount for the purpose of raising more funding I'll happily take the money.
You missed the boat on that by a year.
What we should all be asking ourselves is “am I on payroll at my current job to act as ballast?”
Re: Coinbase cuts staff by a further 20%
#168Anyone 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…
that is extremely toxic and misleading. how the fuck is that allowed?
Re: Coinbase cuts staff by a further 20%
#169I try to keep my calm but it’s a stretch on these topics.
There is nothing ethically superior about any financial manipulation. @sama just raised a multi-billion round on OpenAI. “Open” “AI”. Loopt sold to Greenpoint with thumbs on the scales from both pg and Conway, which is why he’s in a position to do that.
Parsing the details about how wealthy people with the right parents extract wealth is an exercise in parsing minutia.
The chosen get richer. The militant guardians of freedom fight for Drepper’s ideology (he works for Goldman Sachs).
And I’m pretty comfortable with all this: it’s the same as it always was.
Most crypto is a fucking scam. But it’s the same amount of cynical and worse connected than YC.
Re: Coinbase cuts staff by a further 20%
#170Earlier quoted context omitted.
If any startups want to put me on payroll just to increase their headcount for the purpose of raising more funding I'll happily take the money.
You missed the boat on that by a year. What we should all be asking ourselves is “am I on payroll at my current job to act as ballast?”
What does it mean to act as a ballast? What are some signs? Is there a general terminology for this? Are you talking about "meat-shield headcounts"