comment: >
  
  Tech companies (which are overrepresented in the reddit hivemind), which overexpanded based on access to cheap credit and people being at home and not being able to spend their money on IRL stuff. Those times have ended, and so the companies are all cutting back. But other areas that got reduced during the pandemic are expanding still (leisure and hospitality, healthcare, construction, education). . The US added 225,000 more jobs last month.
context: Thumbnail appropriately looks like stonks guy >
  
  Strike those tax exemptions Coinbase wanted. >
  
  Remember when they withdrew a bunch of offers as part of a hiring freeze after people had already accepted and resigned their current jobs? I do. >
  
  On the other hand, I feel like, if you think a job in crypto is for you, you're a fukkin idiot and this is probably the least of the bad decisions you've made. >
  
  The compensation is great because the risk is so damn high. He's saying it's a bad gamble. >
  
  Thank you FTX, Luna, Logan Paul, the crypto isle team and everybody else who turned crypto into the predictable shit show that it is and for proving why regulation and centralization are not bad things to have, especially when it comes to investments and finances. >
  
  Every time one of these exchanges goes belly up there are cryptobros unironically asking for government investigations and bailouts, from the government whose regulatory regime they are explicitly operating outside of.
  Right now, we're at the "lender of last resort" chapter of learning why the financial system is the way it is, except the lender of last resort in this case isn't the US Treasury, it's some shady exchange whose "reserves" are just illiquid shitcoins. >
  
  It's because crypto sucks for petty cash, and the only people who want to move large amounts of money around without the security of government regulation are criminals. Even if someone says otherwise when it's their cash in jeopardy they find their beliefs have a spending limit. >
  
  It started that way. It will end that way. I still remember when the only thing I could buy with bitcoins was weed, sex slaves, and assassins. >
  
  Actually IIRC the first public Bitcoin exchange was a pizza.
  Back in the early days of Bitcoin (before it was $1) someone paid 20 BTC to someone else to order them a pizza. >
  
  It was 10,000 BTC on two pizzas. This was when btc was a fraction of a penny. >
  
  Yeah, I was tracking Bitcoin back in those Digg days.  Wish I'd mined some then.
  But the whole concept seemed stupid at the time.  It still seems stupid. >
  
  TL;DR:
  
  Coinbase is cutting about a fifth of its workforce as it looks to preserve cash during the crypto market downturn.
  The exchange plans to cut 950 jobs, according to a blog post published Tuesday morning. Coinbase, which had roughly 4,700 employees as of the end of September, already slashed 18% of its workforce in June citing a need to manage costs and growing “too quickly” during the bull market. >
  
  Want to know how well Crypto is going?  All the Crypto companies are letting people go and collapsing.  That well.   
  Take your money out while you can. >
  
  ETH is up 10% in 7 days >
  
  down almost 75%+ from all time high also >
  
  ETH is 1300. If you bought 1k worth five years ago you'd have a house. >
  
  On January 19, 2018 ETH was at $1,150. As I post this comment it's at $1,330. If you bought $1,000 worth five years ago you'd have a nice steak dinner. >
  
  You could smush the mashed potatoes into the shape of a house though >
  
  A Coinbase recruiter reached out to me around this time last year about an opportunity that was basically the same type of role as what I had been doing for a couple of years and it interested me because it was tech/crypto and I was tired of insurance. 
  Had an amazing compensation package. He said it would be $150k all in, with a base salary of $135k + bonus, with an addition of stock options. I got deep into the interview process but I ultimately didn't get the job. In hindsight, I'm glad I didn't because I absolutely would have taken it if they gave me an offer. 
  They've done nothing but slash jobs since then. And the crypto market is more turbulent now than its ever been >
  
  I know a guy that quit his $200k job to take offer at this place for $300k+. I advised against it, but he took it. got laid off in like 6 months after he joined. 
  it was clear from looking at their finanaces that they were spending $$$ like drunken sailors last yr. very weak balance sheet, very weak business model. exactly type of company that can go bust in a downturn. 
  as a job seeker, it is on you to do proper due diligence. it is a horrible idea to jump ship from gig to gig for pay increase alone. you are bound to get burned doing that. >
  
  So he was making 300k+ for 6 months. Let's say he is unemployed for 3 months, then lands another 200k job for the remaining 3 months.
  So 
  $300k * 6/12 = $150k
  $0 * 3/12 = $0k
  $200k * 3/12 = $50k
  So in this scenario, he clears 200k for the year anyway.
  I doubt he got 0 severance. And he probably can find another gig in less than 3 months. I'd make the same decision as your friend tbh. High risk, high reward. >
  
  He's going to be making money from unemployment over those 3 months from the state. >
  
  Is it me or are tons of companies laying off tons of workers lately?
  "Nobody wants to work!" Fuck off with that bullshit
  Nobody wants to hire. Nobody wants to pay their workers. Nobody wants to give their workers respect. 
  That is the truth.