Live data from Hacker News

Today I've made the difficult decision to reduce the size of Coinbase by ~14%

twitter.com

441–450 of 842 posts

Re: Today I've made the difficult decision to reduce the size of Coinbase by ~14%

#441
post #334

> - No pure managers: Every leader at Coinbase must also be a strong and active individual contributor. Managers should be like player-coaches, getting their hands dirty alongside their teams. Geeks who didn't even stand near professional sports should really shut up about anything sport related, lol. I would really like to see professional, established coach running around with young prodigies on a peak of their bio…

You have to look past literally everything their leadership is saying and at the heart of the matter: This is a dying company, and they physically will not have the capital to pay paychecks if they don't do this. Everything else is window dressing to try to keep investors on-board, but they aren't buying it, and neither should you. The crypto market winter that started in Q4 last year led to Coinbase's ~worst quarter…

Almost every "AI washing", except for the firms that are spending massively on data center capex (Microsoft, Meta), is coming from a company that is hurting.

The macro is not great right now. The world economy is on a razor's edge. If things unwind, we could all be in for a world of economic hurt. There aren't many levers to pull us out this time around, either.

Crypto is in an even worse state. Investors want liquidity for the uncertainty. Plus there's the looming Q-day that keeps getting pushed earlier and earlier by the experts while we're also inching nearer and nearer on the clock.

Re: Today I've made the difficult decision to reduce the size of Coinbase by ~14%

#442

> - No pure managers: Every leader at Coinbase must also be a strong and active individual contributor. Managers should be like player-coaches, getting their hands dirty alongside their teams. Geeks who didn't even stand near professional sports should really shut up about anything sport related, lol. I would really like to see professional, established coach running around with young prodigies on a peak of their bio…

The player-coach analogy is very common in role definitions, and it is real concept in sports: https://en.wikipedia.org/wiki/Player-coach

I mean it doesn't really help the analogy when most of the examples in the Wikipedia link mention how it's either not done anymore for that sport or very rare nowadays.

Re: Today I've made the difficult decision to reduce the size of Coinbase by ~14%

#443
post #310

> Over the past year, I’ve watched engineers use AI to ship in days what used to take a team weeks. No, you didn't. You watched engineers use AI to ship in days something that looks like what used to take a team weeks. After enough rounds of feature evolution, you'll realise that what they actually shipped isn't at all the same. Anthropic's C compiler, which also seemed like a good start that would have taken people…

I am an engineer. I hire other engineers. I run a company that ships usable software for small businesses. We do this every day. I'm sorry to say, we are indeed shipping in days what used to take weeks.

What you are shipping is not the same as what Coinbase is shipping. These are vastly different things. Making a shiny app with AI is great, I'm doing it as I type this. But I am under no delusion that what I make can sustain a multi-million dollar or even billion dollar business in the case of Coinbase. That's plain silly.

Re: Today I've made the difficult decision to reduce the size of Coinbase by ~14%

#444

> Leaders will own much more, with as many as 15+ direct reports. As someone who did have 15 direct reports for a while, it’s a joke. You basically are their manager in name only. Your time is so split you can’t give any one direct reports the attention they deserve. Quarterly and annual reviews are a farce because you genuinely don’t really know how people are doing except the signals you can receive when you’re not…

> As someone who did have 15 direct reports for a while, it’s a joke.

> You basically are their manager in name only. Your time is so split you can’t give any one direct reports the attention they deserve. Quarterly and annual reviews are a farce because you genuinely don’t really know how people are doing except the signals you can receive when you’re not in a meeting with one of your 15 reports.

Don't forget "No pure managers". So, it's 15+ direct reports while also being "a strong and active individual contributor".

Re: Today I've made the difficult decision to reduce the size of Coinbase by ~14%

#445
Guys I'm from Texas and I want to share something with you all, my friends I've made here on the internet from my heart.

I think all of us are a bit sad now that AI has essentially removed what it means to be a coder.

There will never again be the time like we had, the golden age of being a nerd. We nerds had it all, and then we destroyed it by making something too smart!

As a Texan, it's kind of like cowboys. Coders were wrangling the computer, but now we have been replaced by industry and mechanics.

Having read the twitter post, it was raw and honest, and I want to share some ideas about life that I feel are relevant.

The first one is that when you work, you should always do something you believe in, because nobody can take that away from you.

If you worked for the money, or because someone told you you could be a part of a cool team, your whole world falls apart when you get let go.

But if you work because you truly believe your work is worthwhile, you will always be glad you did it.

I feel that people on here continually complain about capitalism and how bad corporations are. I challenge all you all to check yourself and ask what are you doing to be a part of the system. If you go accept employment at a 9-5, you are part of the system and making it stronger.

I have always refused to have a job. At age 32, I have only ever worked at one company as an employee, and that only for a short time, and the person was a genuine friend of mine.

I ask each person here to quit working at a company. I think all of us should choose to only ever work at a nonprofit.

Fundamentally Capitalism can't be defeated if we complain and then try to negotiate the biggest salary or benefits.

It's logically stupid for us to be saying they are evil, when we do the exact same thing with a salary.

Instead, each of us should work at a nonprofit, and we should NEVER accept a salary but instead ask them to give to us when they have something left over.

Ultimately, friends, I chose to tell my boss one day (the guy I ended up being an employee at his small company for for a bit), that I didn't want a salary, just donate if you want.

Ever since then, I have been happy.

I hated life when I worked for money. But now, I love it. I have gotten to code on many fun projects, but for the first time I felt alive.

It was terrifying with a wife, a kid and a mortgage to say that. But I am a true believer that the universe, or God has a plan for everyone, and that if you stop worrying and doing what you are told, and just go out and love people, it will all work out.

What I found is that the pay you get working for free is better than the pay you could ever get with money.

You can finally live with yourself when you just love everybody, every day.

If you pay me, and I did great work, you will never know if I love you. But if I did it for free, for all of eternity, you will know that you know that I care about you. And that, to me, is worth more than all the money in the world.

That's why I never accept a salary when I work. I just let people give as they feel fit.

Yes, it is hard, and it doesn't always feel fun. But it is 1000X worth it.

Thank you for reading, God bless you and have a great day!

Re: Today I've made the difficult decision to reduce the size of Coinbase by ~14%

#446
post #87

Earlier quoted context omitted.

> Geeks who didn't even stand near professional sports should really shut up about anything sport related, lol. I would really like to see professional, established coach running around with young prodigies on a peak of their biology. Player-coach used to be a thing in professional sports a long, long time ago. There's a reason you don't have it anymore. A coach can't be expected to take the long-term view while also…

Your comment reminded me that this still happens in the NBA. At 43 years old, Udonis Haslem seldom played minutes towards the end of his 20 year career with the Heat. But they kept him on as a “player-coach,” in that he was a mentor to the younger players and assisted in their coaching. Kyle Lowry is another current example of this “player-coach” role, currently on the Sixers.

[deleted]

Re: Today I've made the difficult decision to reduce the size of Coinbase by ~14%

#447

Earlier quoted context omitted.

As a software engineer who also hires other software engineers, I’m curious about the disconnect in our experiences. I do systems programming. Before AI feature development roughly went like, design, implement, test, review with some back edges and a lot of time spent in test and review. AI has made the implementation part much faster, at the cost of even more time spent testing and reviewing, though still an improve…

Not the OP, but it might be that AI isn't as good at systems programming as it is at other domains, or it might be that you're using it differently than I am. I don't know which one it is (maybe AI just isn't good at writing the language you work with). For things like web frontents/backends, though, it works beautifully. I ship things in days that would take me weeks to write by hand, and I'm very fast at writing th…

In my experience ai has had far far more bugs than most of what i call senior engineers but far fewer than juniors.

The boost is for what are glorified crud apps which it 1000x the tedious work. However, the choices it makes along the way quickly blows up without cleaning. Seniors know how to keep their workstation clean or they should.

Re: Today I've made the difficult decision to reduce the size of Coinbase by ~14%

#448
post #257

Earlier quoted context omitted.

So you are accusing them of fraud without any evidence.

The level of unwitting irony here is off the charts. Just one rebuttal ago, it was explained why it was okay to freeze customer funds without providing any evidence. Now we are Jekyll and Hyde'ing back to getting upset about an accusation without evidence. That was a crux of my entire case! I am being damned, for allegedly, using the same standard of evidence as my accuser (though I dispute I am presenting as little…

Wow

Re: Today I've made the difficult decision to reduce the size of Coinbase by ~14%

#449
post #334

> - No pure managers: Every leader at Coinbase must also be a strong and active individual contributor. Managers should be like player-coaches, getting their hands dirty alongside their teams. Geeks who didn't even stand near professional sports should really shut up about anything sport related, lol. I would really like to see professional, established coach running around with young prodigies on a peak of their bio…

You have to look past literally everything their leadership is saying and at the heart of the matter: This is a dying company, and they physically will not have the capital to pay paychecks if they don't do this. Everything else is window dressing to try to keep investors on-board, but they aren't buying it, and neither should you. The crypto market winter that started in Q4 last year led to Coinbase's ~worst quarter…

The thing is that the former crypto gamblers have moved on to gamble in the prediction markets like Polymarket now. Not sure if COIN is coming back from this.
Post reply on HN