Live data from Hacker News

Coinbase is a decentralized company, with no headquarters

blog.coinbase.com

171–180 of 203 posts

Re: Coinbase is a decentralized company, with no headquarters

#171

Earlier quoted context omitted.

This greatly oversimplifies how it actually works to be a foreign Corp in many states. You might be able to get away with this for a year or two but you will eventually be in a world of hurt. Once you have an employee in a state and you are making sales on that state, the tax and regulatory bodies will come after you. Your customers and partners will be reporting you, your payroll provider will make mistakes, and dis…

??? This is literally how most multi-state businesses operate: 1 company, registered as a "foreign business" in other states, with a single multistate payroll provider like ADP handling the payroll function. (Yes, the company will be subject to tax and legal service in any state in which it has an employee, which is why generally when I was still at a firm I generally advised clients against remote employee arrangeme…

I read your basic point though that there are complications/expenses associated with having remote employees in other states ("I generally advised clients against remote employee arrangements"). I've worked for very small firms that did this so it couldn't have been too onerous. But it does serve to highlight that, especially small, companies aren't indifferent to where employees move to even if they're remote (and may prohibit certain moves).

Re: Coinbase is a decentralized company, with no headquarters

#172
post #145
post #101

Earlier quoted context omitted.

Well that’s offset by the fact you no longer have to get a small one bedroom near a large city downtown. Without the commute suburbs or smaller cities offer much bigger and better spaces for less. Why pay $4.5k for that one bedroom in SOMA when you can get a 4 bedroom home in Sacramento for the same price.

I can't help but feel that this is going backwards. Cities are effective engines for value generation. Being in a city is valuable due to network effects, density, and overall efficiency that suburbs lack. Increased urbanization has gone hand-in-hand with increased prosperity for centuries. People don't pay $4.5k for a one bedroom in SOMA (just) to be close to the office. It's too early too say if the historic value…

SV isn't a city; it's mostly suburban sprawl. In most metro areas, you can get to reasonable property prices while still being in the gravitational well of a city even if you wouldn't want to commute into the downtown every day day.

Re: Coinbase is a decentralized company, with no headquarters

#173
post #146

Well, I guess I won’t be working for Coinbase then. I am probably of the rare breed, who actually likes to go to office (not everyday). I can’t imagine staying home all day everyday basically hopping zoom calls. I hope other companies use office presence as a competitive advantage at this point

> I can’t imagine staying home all day everyday

I can imagine it, because I've been doing it every day for the past year. It sucks. It sucks a lot.

I can't even count the number of people in my tech circle who went from (pre-covid) "ugh, so-and-so works from home at an all-remote company, that sounds fantastic" to (early-covid) "wow, working from home is fantastic, I can start a bit later, no boring commute, this is amazing" to (late-covid) "holy crap fuck working from home, i never want to do this again, I'm over it, get me back into an office".

COVID itself had something to do with this, in the sense that never leaving your home, for work or play, is exhausting, and makes work-from-home worse.

But, I don't think most people will disentangle that from the reality of how they feel. I think many, many people want to get back to the normalcy of a commute and office life. And, a few years from now, we'll all be tired of it again. And that's fine.

This whole "remote-first" wave we're seeing is almost entirely isolated to tech jobs in tier-1 tech cities (SF, Seattle, NY). That's definitely a situation where, many many people wanted to get out of the city pre-COVID, due to rising costs, and COVID-fueled remote work became the excuse they needed. Then, companies corroborated by going all-remote because corporate real estate is expensive, and if its what employees (and especially c-suite) want, lets do it.

I fundamentally believe that its not the wide-spread movement that's so easy to conclude it to be. First, because many people want to go back to an office, especially outside of tier-1 metro areas. Second, because going remote is fucking hard on your business, and executives generally aren't dumb, they know its hard. Collaborating asynchronously? No one can do it. Human beings don't have the patience. Scheduling a 60 minute meeting because a topic isn't resolved in ten minutes of Slack chat? So fun, much asynchronous. Documenting everything? Ha. Nope. We can hire anyone! I mean, in our timezone, maybe +/-1, because timezones and latency are a fundamental, physical, law of nature bitch and a half. Sorry, my microphone was muted, and my dog is barking (and if you think we're going to "solve" online video chat in our lifetimes, go buy a printer and realize we haven't even solved that).

Also, to some degree I hold the controversial opinion that many of these "pioneering" remote-first companies (Gitlab, Coinbase, Spotify (to a lesser degree), etc) are generally involved in product domains which require, lets say, less creativity. I love their products; they're absolutely fantastic, and I don't mean that disparagingly in the slightest. I simply mean that their biggest problems are generally operational in nature, or have relatively well-defined edges. If you're at a company where you can't even imagine what your product/project will look like in 12 months, where you need zero latency high creative output from your team, remote is even harder.

I have a friend who works on Azure, and she said they were seriously considering full remote. Its like, duh, that'll work great for Azure, because they're highly operational and a ton of their product development is just "what did AWS do last year". It works for some companies, and it definitely won't work for others, but maybe they need to go through the pain to realize it.

Re: Coinbase is a decentralized company, with no headquarters

#174
post #106

Earlier quoted context omitted.

Nothing keeps you from doing that, but Coinbase can easily detect that after the fact, and then ban you from using their service.

I mean, I can understand the basic reason if the goal is to avoid money laundering (if this goal runs counter to crypto's intended purpose of anonymity then I have frankly not much sympathy with crypto here). But I find it interesting that they do this even though they technically can't know if the intermediate address was really under your control. Wouldn't this make any transaction out of Coinbase inherently risky?…

I didn't say they did do this, only that they can.

The goal doesn't seem to be simply to avoid "money laundering." Of the small sample of people I know who've been banned from Coinbase, all of them have been simply for transacting with gambling sites.

Re: Coinbase is a decentralized company, with no headquarters

#175
post #154

Should probably qualify this as "geographically decentralized". As long as there are C-level executives, VPs, and the usual corporate heirarchy, they're not really decentralized in the sense that cryptocurrency itself is fully consensus-driven.

Also, Coinbase isn't legally decentralized. If someone wanted to subpony them or serve them a court summons they still have a listed agent for service of process. A truly decentralized company, in the ideological sense, would have none of that.

I think the word is "subpoena"? Subpony is quite fun though.

Re: Coinbase is a decentralized company, with no headquarters

#176

Industries that rely heavily on business travel are basically fucked. Airlines (first and business class), hotels, ridesharings, car rentals and etc.

I don't see how business travel goes away. You just can't effectively build relationships over zoom, phone calls, and email. It's just not possible. Ask anyone who's been in a long distance relationship.

As someone who's been in working and failing long distance relationships, I'm not sure they are a good comparison.

The issue in LDRs is mostly lack of intimacy these days, since you can easily be connected all the time.

I'm not sure you would need this from someone in sales from company X.

As you say the problem would be _building_ relationships, which is different from _maintaining_ them.

People have been leaving their parents' place for a very long time, but this rarely means become estranged, because the relationship is already there, and it's not that hard to maintain.

Re: Coinbase is a decentralized company, with no headquarters

#177
post #173
post #146

Well, I guess I won’t be working for Coinbase then. I am probably of the rare breed, who actually likes to go to office (not everyday). I can’t imagine staying home all day everyday basically hopping zoom calls. I hope other companies use office presence as a competitive advantage at this point

> I can’t imagine staying home all day everyday I can imagine it, because I've been doing it every day for the past year. It sucks. It sucks a lot. I can't even count the number of people in my tech circle who went from (pre-covid) "ugh, so-and-so works from home at an all-remote company, that sounds fantastic" to (early-covid) "wow, working from home is fantastic, I can start a bit later, no boring commute, this is…

I have to know what you do for a living that building and running one of the largest clouds in the world is "highly operational".

Re: Coinbase is a decentralized company, with no headquarters

#178

Should probably qualify this as "geographically decentralized". As long as there are C-level executives, VPs, and the usual corporate heirarchy, they're not really decentralized in the sense that cryptocurrency itself is fully consensus-driven.

> Should probably qualify this as "geographically decentralized".

What a loose use of the definition, which is oddly very much like Armstrong to attach his name and Coinbase to Bitcoin's virtues. And this is despite him actively helping push Bcash during USAF.

> As long as there are C-level executives, VPs, and the usual corporate heirarchy, they're not really decentralized in the sense that cryptocurrency itself is fully consensus-driven.

Also recall that these guys are ex Goldman Sachs with deep ties to VC, which includes YC and is definitely not decentralized in anyway. Why this is on the front page is showing it's ties to YC because otherwise the focus should be on how they keep shutting down during ATH, and price dips.

Re: Coinbase is a decentralized company, with no headquarters

#179

Industries that rely heavily on business travel are basically fucked. Airlines (first and business class), hotels, ridesharings, car rentals and etc.

I don't see how business travel goes away. You just can't effectively build relationships over zoom, phone calls, and email. It's just not possible. Ask anyone who's been in a long distance relationship.

Long-distance is not impossible, it's just known to be objectively inferior to in-person interaction. I think it is silly that mainstream tech is flirting with this idea of "remote 100% forever". The best people want to be in the same room as the best people. This is human nature. The only people promoting "remote 100% forever" are the people working in big tech that stand to gain from forced-remote.

People don't want to sit at home all day in zoom calls. You can try to prevent people from being able to see each other in person, but those attempts will always eventually fail.

Re: Coinbase is a decentralized company, with no headquarters

#180

Bay Area tech scene jumped shark in 2016. Was a fun time to be there but that time has passed.

Honestly it was perfectly fine before the shutdown. Bay area will rebound almost completely 12-18 months after the government lets people live again.
Post reply on HN