Not to be confused with Kragen Auto Parts that was bought by O'Reilly Auto Parts.
Kraken lays off 30% of staff
191–200 of 238 posts
Re: Kraken lays off 30% of staff
#192Earlier quoted context omitted.
People who don't understand what ponzi schemes are love calling crypto a ponzi scheme.
People who profit from Ponzi schemes love pretending that their returns represent real value from the economy.
Well said. This is what I was trying to say and failing to.
Re: Kraken lays off 30% of staff
#193Earlier quoted context omitted.
Why would one conman’s association with an ideology condemn the entire ideology? Because he said he was using it as a ruse? Why are you still selectively believing the conman?
Practically nobody in the mainstream had ever really heard of the ideology before said conman adopted it and tried to make it popular. Who are the most influential backers of it right now? Convince me it's worth doing some searching on and I will, but if you tell anyone outside of small circles that you are affiliated with the movement, you are going to be on the defensive side for the foreseeable future.
(disclaimer: no idea what effective altruism is about)
You seem to believe that "truly good" causes have a requirement to have "influential backers" behind them in order for you to consider doing them. That seems like a pretty silly way to decide what things are good/bad to do -- People did the same thing with FTX when Matt Damon's commercial aired, and look how that ended up for them. Maybe just research concepts for yourself and decide what's a good idea rather than waiting for a celebrity or rich person to tell you it's worth doing. Chances are, things celebrities tell you to do are the things LEAST worth doing.
Re: Kraken lays off 30% of staff
#194> Since the start of this year, macroeconomic and geopolitical factors have weighed on financial markets. This is an incredible couching of the last 9 months of cryptocurrency market behavior. Does anybody actually operate on their belief that "geopolitical factors," rather than astonishing amounts of fraud , are responsible for the current downturn?
Every tulip bubble is full of fraud. Those markets are chalk full of people looking to get rich quick, and many people looking to get rich quick are willing to do it in a less than scrupulous way.
Re: Kraken lays off 30% of staff
#195> Since the start of this year, macroeconomic and geopolitical factors have weighed on financial markets. This is an incredible couching of the last 9 months of cryptocurrency market behavior. Does anybody actually operate on their belief that "geopolitical factors," rather than astonishing amounts of fraud , are responsible for the current downturn?
For the life of me I cannot understand how every single layoff notice talks about "macroeconomic factors." Inflation and interest rates are up - okay. But real GDP growth (in the US at least) has been positive. Why is everybody acting like unemployment is at 8%, GDP growth is sharply negative, and consumer spending is way down? At least with crypto stuff it makes sense that these companies are losing shitloads of mon…
It's just a standard thing to point at, isn't it? Like a greeting at the start of a letter? Simply what one says?
Re: Kraken lays off 30% of staff
#196Earlier quoted context omitted.
Sure if you are being pedantic you got me. I was just trying to make the point that there are very risky positions you can hold in traditional finance as well and you can be down thousands of percent.
> Crypto is performing far worse than even the riskiest decile of the stock market. Which should surprise nobody. > This is not true. The riskiest stocks are down thousands of %. I mean, sure looks like you were trying to argue that crypto isn't performing worse than the riskiest decile of the stock market, which just isn't true at all.
It is though. There are plenty of growth stocks down 80%. Many of which were being pushed heavily by the Youtube finance crowd. The same ones peddling FTX (cough)...
Re: Kraken lays off 30% of staff
#197Earlier quoted context omitted.
People who don't understand what ponzi schemes are love calling crypto a ponzi scheme.
Lol. Tons of crap coins, fake stable coins, grifters launching ICOs, SBF, bridges getting hacked, being able to print a coin and then get randoms to buy it. Coins named after dogs that mean or reference nothing. Some 20 years? in and what value has the blockchain provided? What is it being used in that has changed the world? Crypto bulls are all the same: Hayek acolytes hell bent on currency that isn’t fiat. It is a…
I regret to inform you that none of those things are ponzi schemes. Many of em are certainly fraud, but a ponzi scheme they are not.
Your incorrect definition of ponzi scheme is essentially 'basic market dynamics in an inflationary economy' and would include the vast majority of financial products in the world, including the ones your probably trust.
Stocks only work if you can find another putz to buy it.
People who are early in any stock take money from later investors.
Also, anyone who purchased bitcoin in the first 12 of the 14 years it has existed is in the green. I think "only early investors" is a pretty superlative way of expressing that.
Re: Kraken lays off 30% of staff
#198At least they're handling it responsibly and generously: From their blog: Separation pay: We will pay 16 weeks of base pay for all departing Krakenites inclusive of the paid leave period. Performance bonus: For those eligible, we will pay each departing Krakenite their bonus as determined by their manager. Benefits: We will offer eligible Krakenites 4 months of healthcare continuation coverage inclusive of the paid l…
Krakenites eh? I was hoping they called themselves Krackheads
Yeah, I was also thought that Stripe may have called themselves 'Strippers' after 14% were 'stripped' of their employment. From the top comment if I was to replace it: [0]
* Severance pay. We will pay 14 weeks of severance for all departing 'Strippers', and more for those with longer tenure. That is, those departing will be paid until at least February 21st 2023.
* Bonus. We will pay our 2022 annual bonus for all departing 'Strippers', regardless of their departure date. (It will be prorated for people hired in 2022.)
* PTO. We’ll pay for all unused PTO time (including in regions where that’s not legally required).
* Healthcare. We’ll pay the cash equivalent of 6 months of existing healthcare premiums or healthcare continuation.
* RSU vesting. We’ll accelerate everyone who has already reached their one-year vesting cliff to the February 2023 vesting date (or longer, depending on departure date). For those who haven’t reached their vesting cliffs, we'll waive the cliff.
Re: Kraken lays off 30% of staff
#199Earlier quoted context omitted.
Is anyone actually defending effective altruism right now? SBF has effectively flushed it down the drain along with the investors he scammed.
Me. The movement and ideas are good even if the most famous person connected to it is bad. You don't hear about the vast majority of EAs who just quietly try and improve girl's education in Indian or distribute malaria nets (to mention two I know personally).
This is like "communism is good, it was just badly implemented".
For a movement that prides itself on being evidence-based, there is a lot of evidence EA is willing to ignore.
Re: Kraken lays off 30% of staff
#200Earlier quoted context omitted.
Practically nobody in the mainstream had ever really heard of the ideology before said conman adopted it and tried to make it popular. Who are the most influential backers of it right now? Convince me it's worth doing some searching on and I will, but if you tell anyone outside of small circles that you are affiliated with the movement, you are going to be on the defensive side for the foreseeable future.
(disclaimer: no idea what effective altruism is about) You seem to believe that "truly good" causes have a requirement to have "influential backers" behind them in order for you to consider doing them. That seems like a pretty silly way to decide what things are good/bad to do -- People did the same thing with FTX when Matt Damon's commercial aired, and look how that ended up for them. Maybe just research concepts fo…
It's not that "truly good" causes need an "influential backer," it's that I don't want to have to get into an argument with someone in real life who decides I am some kind of scammer due to being affiliated with a movement that has been getting nothing but bad press thanks to one individual. Time is precious, just like I can't spend time researching every single tool that gets posted on HN for production viability, I can't spend time researching every relatively obscure social movement out there to adopt for myself. I ignored the crypto craze due to listening to the right people, just like I can ignore EA by listening to the same ones.