[HN Gopher] Coinbase announces it will slow down hiring
       ___________________________________________________________________
        
       Coinbase announces it will slow down hiring
        
       Author : jimmy2020
       Score  : 128 points
       Date   : 2022-05-17 10:23 UTC (12 hours ago)
        
 (HTM) web link (blog.coinbase.com)
 (TXT) w3m dump (blog.coinbase.com)
        
       | superkitty wrote:
       | Looks like pretty much all high tech company's slowing the
       | hiring. That usually indicates that in few months it would not be
       | surprised to see stating the blood bath in tech companies.
        
         | ushakov wrote:
         | blood bath is already happening
         | 
         | interest rates raising, layoffs, entry level role hiring halt,
         | etc.
         | 
         | i'm launching a startup this year fearing it would end up
         | underfunded
        
         | lm28469 wrote:
         | imho it's the blowback of covid + the few years before.
         | 
         | Companies hired based on temporary trends that could mostly be
         | explained by covid. They scaled their team accordingly, now
         | that people start to go out again they get less
         | users/sales/engagement they have to scale back down.
        
           | randomopining wrote:
           | Yeah, I don't see what is unhealthy about the underlying
           | economy
        
         | daxfohl wrote:
         | I wonder if Microsoft will reconsider their pay bumps.
        
           | pavlov wrote:
           | I think it's the opposite thinking at Microsoft: they see
           | here an opportunity to change their reputation as "the
           | forgotten FAANG", not even in the acronym because it doesn't
           | pay as well as the SV companies.
        
             | ProAm wrote:
             | It should already be FAAMG for a year or two now
        
               | black_puppydog wrote:
               | I think you mean MAGMA
        
               | jonny_eh wrote:
               | Facebook is Meta but Google isn't Alphabet?
        
               | black_puppydog wrote:
               | Fine, MAMMA it is then :)
        
               | jonny_eh wrote:
               | Wouldn't it be MAAMA?
        
             | mc32 wrote:
             | The MAAGMATENN ms, aapl, adobe, goog, meta, amzn, twttr,
             | eBay, netflx, nvidia.
             | 
             | Ok that's just forcing it.
        
               | zamadatix wrote:
               | Drop an A for an E and you could have MANAGEMENT,
               | everyone already knows about the great pay there!
        
               | Sohcahtoa82 wrote:
               | I often forget eBay even exists.
        
               | mr90210 wrote:
               | Adobe? Yeah that's forcing for sure.
        
               | [deleted]
        
               | killerdhmo wrote:
               | Look at the five year stock growth, dark horse among the
               | tech companies for sure
        
               | NineStarPoint wrote:
               | The stock is good sure, but I always figured that FAANG
               | was more about their reputation as employers than it was
               | about their reputation as an investment.
        
               | kodah wrote:
               | Personally speaking, I do not go to companies for clout
               | but I'm also not interested in bragging to other
               | engineers in the form of xGoog xUber etc
               | 
               | I go for the stock price because those RSUs are my
               | retirement plan.
        
               | ricardou wrote:
               | I think it's the opposite actually. I remember FAANG
               | being used as a reference to hot stocks.
               | 
               | Investopedia seems to claim the same:
               | https://www.investopedia.com/terms/f/faang-stocks.asp
        
               | [deleted]
        
           | caycep wrote:
           | granted, if I had large amounts of capital in the bank but
           | competitors are laying off talent, I'd snap them up in a
           | jiffy...
        
           | daxfohl wrote:
           | Or knowing Amazon, they'll probably revert theirs.
        
         | kodah wrote:
         | I'm looking for a job right now and honestly the market is _red
         | hot_. Total comp is higher than I 've ever seen and I'm even
         | getting the opportunity to pick my interview style (eg: opting
         | out of leetcode style interviews). I'm really enjoying the
         | change.
        
           | moonshinefe wrote:
           | I'm going to be looking soon, any tips that've been working
           | for you so far? What sites were you looking on? Were you
           | requesting interview type up front or just applying to ones
           | that mention it, etc.?
        
             | kodah wrote:
             | Yes!
             | 
             | - hired.com is good for startups; startups are often
             | matching salary and benefits with top engineering firms
             | _and_ don 't do geopay.
             | 
             | - (as usual) keyword optimize your resume and sync it with
             | LinkedIn. A lot of managers, corporate recruiters, and
             | third party recruiters are using LinkedIn search to find
             | candidates. I use LinkedIn as a medium-quality queue.
             | 
             | There is a strange rash of companies putting their total
             | comp (and base pay) under NDA. I generally let recruiters
             | know that I think it's important to be up front about
             | compensation from the beginning and starting the
             | conversation from a place that makes sense with my
             | experience.
             | 
             | Yes, I let recruiters know that if I have to do a leetcode
             | interview then they go to the back of my queue (I can do
             | them decently well; I'm just exhausted with them and don't
             | see value). If they're project based or where they want to
             | look at my GitHub then they go to the front. One thing that
             | helps them meet in the middle is that I explain that I'm
             | developing a short list of five companies and that I will
             | knock all of those interviews out in one week and promise
             | not to hedge offers against each other.
        
               | bhelkey wrote:
               | > There is a strange rash of companies putting their
               | total comp (and base pay) under NDA.
               | 
               | Which country do you live in? IANAL but I believe this is
               | protected speech in the US [1].
               | 
               | [1] https://money.usnews.com/careers/articles/should-you-
               | tell-yo...
        
               | kodah wrote:
               | I'm a US citizen, honestly, my first thought was that it
               | sounds shady and illegal. I'm not a lawyer nor do I have
               | the time or energy to fight them on it, I just tossed it
               | in the trash because there's a long queue ahead of them
               | anyway.
        
               | Apocryphon wrote:
               | Colorado was the first state to require salary ranges in
               | job listings. More states have since legislated the same,
               | and California might have a draft bill out, I believe.
        
               | kodah wrote:
               | Here's an example:                 Totally understand if
               | not the right time but was keen to see if you'd be
               | interested in discussing a fully remote Site Reliability
               | Engineer position with one of the leading global
               | cryptocurrency exchanges, who are driving the mainstream
               | adoption of blockchain and crypto technologies and have
               | grown from a small scale up to over 1500 people in the
               | last four years?            They attract some awesome
               | people globally and pride themselves on a no-ego team who
               | are brilliant technically, but work together to achieve
               | great things in a complex environment.            I'm
               | under NDA on salaries so can't mention exact figures, but
               | can say total comp can run into the hundreds of thousands
               | on base, bonus and equity. The role is fully remote from
               | anywhere in the US.              The SRE team tend to be
               | 'dev heavy' and are using Rust and Golang currently
               | however are open to candidates with experience in Python
               | or Java too. You'd be introduced to Rust if needed
               | (experience not required) and will have wider
               | responsibility for ensuring reliability processes and the
               | build and upkeep of container environments supporting
               | massive volume live cryptocurrency trading platforms.
               | It would be great to tell you more, would this be of
               | interest?
        
               | moonshinefe wrote:
               | Sweet, thanks for the tips!
        
           | [deleted]
        
         | kwertyoowiyop wrote:
         | The blood bath will be real when companies start filing for
         | chapter 11 or being sold at distressed prices. Right now we are
         | blood bath-adjacent.
        
       | [deleted]
        
       | okokwhatever wrote:
       | Hell is freezing
        
       | jstx1 wrote:
       | > Heading into this year, we planned to triple the size of the
       | company.
       | 
       | I wonder what "slow down" means exactly in this context. Complete
       | hiring freeze? 10-50% growth? Even if there was no market
       | downturn, how were they even planning to integrate 3x the people
       | within the company in such a short period of time.
        
         | bko wrote:
         | They have 3.7k employees, which means by the end of the year
         | two thirds of the employees would have been there less than a
         | year. Did anyone ever go through a similarly extreme hiring
         | period as an employee? I can't imagine how disorienting it must
         | be.
        
         | avrionov wrote:
         | Coinbase revenue increased 514.76% from 2020 to 2021. They were
         | also profitable in 2021. Adding 3x people probably made sense,
         | if they think that that revenue will continue to increase.
         | 
         | https://www.google.com/finance/quote/COIN:NASDAQ
        
           | rvnx wrote:
           | Something maybe more worrying is that you can see in the
           | financial results of Coinbase that they invested into BTC
           | themselves, and there is threshold where they would lose
           | funds and likely have to liquidate BTC aggressively :/ (it's
           | public)
        
             | wmf wrote:
             | If they're profitable why would they panic sell?
        
               | [deleted]
        
         | [deleted]
        
         | prepend wrote:
         | I interpret this as hiring freeze.
         | 
         | When I read corporate emails and "official" messages, I always
         | take the least charitable interpretation. So what's the most
         | unattractive thing that fits their definition of slowing down,
         | that's a hiring freeze.
         | 
         | This uncharitable view is the opposite when I encounter genuine
         | human interaction where I try to view the most charitable.
         | 
         | But if a lawyer has read through it, then the most weaselly
         | interpretation is probably truist.
        
           | taurath wrote:
           | Corporations are sociopaths, and we think this is a good idea
           | for some reason
        
             | prepend wrote:
             | Of course they are. It is good. Corporations, like
             | functions, are sociopaths. They're just rulesets. They
             | aren't real people so they can't be anything but
             | sociopaths, although I don't think that's an accurate term
             | for a non-person. Are deer sociopaths? Or trees? Or virii?
             | Or bags of rice?
             | 
             | I want the emotions to be with the people who make up
             | corporations (and write the functions).
        
               | throwaway_1928 wrote:
               | Except _these_ rulesets are at the top of the food chain
               | within our society.
               | 
               | As for the people who make up the corporations, they turn
               | into sociopaths themselves as their emotion and empathy
               | dissipate the higher they get in the pecking order.
        
       | oxfordmale wrote:
       | This is happening in tech companies across the board. From my
       | network I understand many companies have either stopped hiring or
       | have strongly reduced hiring.
        
         | devoutsalsa wrote:
         | I can't really say. I'm still getting hammered with inquiries.
        
           | oxfordmale wrote:
           | I am wondering if some of these inquiries are from slightly
           | shady recruitment agencies. I know people have still been
           | approached for the positions my company has pulled.
           | 
           | The rut mostly seems to affect the tech sector. There are
           | plenty of sectors that are fine.
        
             | notch656a wrote:
             | I would go far to say as the majority of recruiter
             | inquiries I've received in my life have been for pulled
             | positions, used as bait to start engagement with the
             | recruiter.
        
       | seydor wrote:
       | Binance has ~10 times the trading volume with the same number of
       | employees
        
         | josu wrote:
         | The cost of operating a US company in a highly regulated
         | environment. Binance US, the closest comparable, "only" does
         | 10% of the volume of Coinbase, or 20% if you take into account
         | that half the Coinbase users are not from the US.
         | 
         | https://www.coingecko.com/en/exchanges/binance_us
        
           | dubswithus wrote:
           | GP was referring to Binance and not Binance US, I think?
        
           | anonporridge wrote:
           | Exactly. It's amazing how efficient you can be when you don't
           | have tons of pesky government rules and regulators breathing
           | down your neck.
        
             | [deleted]
        
             | tadfisher wrote:
             | It's also amazing how much damage you can do.
        
               | notch656a wrote:
               | It's also amazing jus how much damage regulators can do,
               | who may occupy a priveleged seat of corruption that is
               | neither beholden to the customer nor the provider of the
               | goods. Often (most) time the regulator is not even
               | sitting in an elected position, with only the loosest
               | accountability to the voter.
        
               | guelo wrote:
               | The regulators are not corrupt. You believe that without
               | evidence because it's part of your political ideology.
        
               | [deleted]
        
               | notch656a wrote:
               | Hours ago you called the court of the land "corrupt
               | hyper-partisan" and now you believe there's no evidence
               | of corruption in the vastness of the regulatory agencies?
               | 
               | Spare me the hypocrisy.
        
               | anonporridge wrote:
               | Some regulars _are_ corrupt. Some are not. Some
               | government officials are corrupt. Some are not. Some
               | business people are corrupt. Some are not.
               | 
               | Any position of power has the potential to fall to
               | corruption, if proper checks and balances aren't put in
               | place to prevent it. GP simply seems to believe that
               | regulators are insufficiently held accountable to avoid
               | corruption from taking root.
               | 
               | Are you sure you yourself don't believe something without
               | evidence ("regulators are not corrupt") because it's part
               | of your political ideology?
        
               | BitwiseFool wrote:
               | Likewise, regulators are not beyond reproach and one's
               | political ideology influences that perception.
        
               | kolbe wrote:
               | > The regulators are not corrupt.
               | 
               | And what would you say the basis for you believing that
               | is?
        
               | tadfisher wrote:
               | So obviously the answer is no regulation, and to let
               | Ponzi schemes and rug-pull scams be a de-facto tax on
               | those who fall for the marketing, with the beneficiaries
               | being the perpetrators.
        
               | notch656a wrote:
               | If you were completely uncreative or speaking in bad
               | faith, you may come to the conclusion that your "obvious"
               | answer of such a false dichotomy.
        
           | [deleted]
        
         | bko wrote:
         | FTX has only 300 (< 1/10th that of Coinbase) with 5x the volume
         | (depending how you measure)
         | 
         | https://ftx.com/volume-monitor
        
         | BLanen wrote:
         | Binance is a bucket shop with faked volume
        
         | dmd wrote:
        
           | boeingUH60 wrote:
           | Stop misrepresenting things. Many users have corrected you,
           | so I won't do the same. But, attitudes like these are really
           | tiring...please, don't seek outrage in everything.
           | 
           | There are many valid things to criticize Binance for, e.g.,
           | enabling reckless crypto gambling and money laundering.
        
           | searchableguy wrote:
           | That's a swastika symbol which is common in Asia (where
           | binance and its founder is from). The nazi symbol is tilted,
           | has an opposite image to it and no dots.
           | 
           | Gas is used for token in that context and is also a common
           | word in crypto referring to transaction fees.
           | 
           | I'm surprised by the connections made.
        
             | Mo3 wrote:
             | I too have difficulty understanding the connection without
             | ulterior bias and lack of knowledge needing to be present.
             | 
             | Taking a single look at the second link referenced, it is
             | glaringly obvious that the tokens' abbreviation is GAS.
             | 
             | The swastika is a completely different symbol and unrelated
             | to the Hakenkreuz. The swastika has never directly been
             | referenced by the Nazis, they projected their own values
             | into the form of the symbol.
        
               | my69thaccount wrote:
               | It's funny how you think being German makes you most
               | qualified to talk about Nazi iconography when in
               | actuality it makes you the least qualified
        
               | Mo3 wrote:
               | I've edited the comment as to not include the reference
               | to my nationality, because this reference was originally
               | meant in the way of "I dont see anything wrong with this
               | either", referring to the original twitter links, but I
               | see how this could be taken in a very different context.
               | 
               | Obviously nationality does not relate to knowledge or
               | expertise in symbols in any way, and that association is
               | a _little_ bit far fetched to be quite honest with you.
               | 
               | I'm not sure why you would project this specific intent
               | into my comment, as I was originally replying to
               | something completely off the topic of symbols and the
               | Swastika or Hakenkreuz.
        
               | chimeracoder wrote:
               | > The swastika is a completely different symbol and
               | unrelated to the Hakenkreuz. The swastika has never been
               | used or considered by the Nazis.
               | 
               | This is not true. "Hakenkreuz" is literally just a German
               | word for swastika, etymologically a descriptive one in
               | German instead of a Sanskrit loan word.
               | 
               | Contrary to popular misconception, there is no inherent
               | difference between a swastika as used in religious
               | imagery and a swastika as used by the Nazis. The
               | difference is _context_.
        
               | Mo3 wrote:
               | Hakenkreuz is not "literally the name for a swastika".
               | Hakenkreuz literally translates to hooked cross. It has
               | nothing to do with a Swastika which is a completely
               | unrelated symbol that has been around for a long time.
               | The swastika is also visually different (the Hakenkreuz
               | is angled 45deg, we could argue about the form itself,
               | but on the other hand its not a very deliberate geometric
               | structure)
               | 
               | Furthermore, "Swastika" has not once been mentioned or
               | used by the Nazis. Hitler in Mein Kampf referred to it as
               | a hooked cross, and while they probably knew about the
               | Swastika itself, assigning a completely new symbolic
               | meaning to a symbol results in a new, unrelated symbol.
               | 
               | In fact, as far as my current knowledge goes, the in the
               | English speaking world wide-spread mistranslation of
               | "Hakenkreuz" to "swastika" was a deliberate
               | mistranslation by a British Christian priest that has
               | propagated into mainstream "knowledge".
        
               | skrtskrt wrote:
               | OK so Hakenkreuz is the German name for the thing that
               | the entire English speaking world calls a swastika?
        
               | Mo3 wrote:
               | No... the Swastika has been around for a long time and
               | has a completely different symbolic meaning. It's also
               | not the same visually.
               | 
               | I'm not responsible for lack of education and mainstream
               | misconceptions, I can only tell you facts.
        
               | skrtskrt wrote:
               | https://www.merriam-webster.com/dictionary/Hakenkreuz
               | 
               | https://www.thefreedictionary.com/Hakenkreuz
        
               | Mo3 wrote:
               | Again, this stems from a deliberate mistranslation of a
               | British Christian priest.
        
               | skrtskrt wrote:
               | It's not a mistranslation.
               | 
               | The symbol is the same symbol.
               | 
               | One is just "what the Nazis called that symbol".
               | 
               | The other is "what everyone else calls that symbol".
               | 
               | https://en.wikipedia.org/wiki/Swastika
               | 
               | Also translation is not an exact science where the most
               | literal translation like "hooked cross" wins. It's much
               | more often about conveying the meaning to the audience
               | (who all correctly call that symbol a swastika).
        
               | Mo3 wrote:
               | The article you linked literally says you are not
               | correct.
               | 
               | > The swastika symbol, Wan  or Wan , is an ancient
               | religious symbol in various Eurasian cultures, now also
               | widely recognized for its appropriation by the Nazi Party
               | and by neo-Nazis.[1] It continues to be used as a symbol
               | of divinity and spirituality in Indic religions,
               | including Hinduism, Buddhism and Jainism.
               | 
               | Appropriation and following complete perversion of the
               | original symbolic meaning does not make the resulting
               | output interchangeable with the original symbol.
               | 
               | Even Hitler himself in his book Mein Kampf states;
               | 
               | > "I myself, meanwhile, after innumerable attempts, had
               | laid down a final form; a flag with a red background, a
               | white disk, and a black hooked cross in the middle. After
               | long trials I also found a definite proportion between
               | the size of the flag and the size of the white disk, as
               | well as the shape and thickness of the hooked cross."
               | 
               | Nowhere, ever, was the Swastika and its symbolic meaning
               | mentioned as a direct inspiration for the Hakenkreuz.
               | Instead, the Nazis attributed their own ideology to the
               | symbol, but not even to the Swastika itself, but to its
               | form, and furthermore that doesn't change anything about
               | the Swastika itself.
               | 
               | It is not the same symbol.
               | 
               | If we're going to argue about the visual aspect of the
               | symbol, please look at this image and tell me if these
               | two symbols look like the same to you.
               | 
               | https://i.imgur.com/kK6aBK0.png
        
               | skrtskrt wrote:
               | You're cherry-picking, poorly, from the Wikipedia
               | article.
               | 
               | How does your selected sentence help your point?
               | 
               | > The swastika symbol, Wan  or Wan , is an ancient
               | religious symbol in various Eurasian cultures, _now also
               | widely recognized for its appropriation by the Nazi
               | Party_
               | 
               | Also you tried to pick the two visual representations
               | that are the most different, but the first image in the
               | article[1] has the subtitle "The swastika is a symbol
               | with many styles and meanings and can be found in many
               | cultures."
               | 
               | The second image's subtitle says "The adoption of the
               | swastika by the Nazis and neo-Nazis is the most
               | recognisable modern use of the symbol in the Western
               | world."
               | 
               | [1] https://upload.wikimedia.org/wikipedia/commons/thumb/
               | 2/21/Fo...
               | 
               | I have to say I find it odd when people choose to die on
               | a hill of being obviously, provably wrong about something
               | Nazi-related.
        
               | schroeding wrote:
               | Yes it is, the swastikas of buddhist temples are
               | Hakenkreuze - they just have a different meaning. The
               | Japanese call them Manji - is it also a different symbol?
               | No, it's just a different name.
               | 
               | Take a look at this book from the 19th century, about the
               | religious symbol, notice the name: https://books.google.d
               | e/books?id=VbkNkkgHvYgC&pg=PA1&printse...
               | 
               | The orientation does not matter, take a look at the
               | Zeppelintribune of the Nurnberger Reichsparteitagsgelande
               | - it had a _gigantic_ Hakenkreuz on top, in a non-angled
               | configuration.
        
               | Mo3 wrote:
               | It may very well be the same geometric structure. It is a
               | COMPLETELY different symbol (as in, speaking about
               | symbolic meaning)
               | 
               | The man himself in his book Mein Kampf wrote,
               | 
               | > "I myself, meanwhile, after innumerable attempts, had
               | laid down a final form; a flag with a red background, a
               | white disk, and a black hooked cross in the middle. After
               | long trials I also found a definite proportion between
               | the size of the flag and the size of the white disk, as
               | well as the shape and thickness of the hooked cross."
               | 
               | > "As National Socialists, we see our program in our
               | flag. In red, we see the social idea of the movement; in
               | white, the nationalistic idea; in the hooked cross, the
               | mission of the struggle for the victory of the Aryan man,
               | and, by the same token, the victory of the idea of
               | creative work."
               | 
               | Correct me if I'm wrong, but assigning new symbolic
               | meaning to a symbol results in a new, unrelated symbol.
        
               | schroeding wrote:
               | You wrote
               | 
               | > Hakenkreuz is not "literally the name for a swastika".
               | Hakenkreuz literally translates to hooked cross.
               | 
               | But it literally is the translation for swastika. There
               | are books from the 19th century talking about the
               | Hakenkreuze in buddhist temples. And yeah, you can
               | translate it to hooked cross. But English is not the
               | authoritative language on this topic, German is, as the
               | Nazis did not speak english (as their native language).
               | 
               | (Original Nazi sources ahead)
               | 
               | Take a look at this edition of "Volk and Rasse": https://
               | www.google.de/books/edition/Volk_und_Rasse/n9sZAAAAM...
               | On Page 465, there is a description of a "racial school"
               | in Berlin with the name "Swastika". Because it's the same
               | symbol. This Book was published by the Rassehauptamt of
               | the NSDAP, directly by the Nazis.
               | 
               | The Hakenkreuz as a religious swastika is also being
               | mentioned in this book: https://www.google.de/books/editi
               | on/Der_S_A_F%C3%BChrer/wdU7... Published for the SA, also
               | directly by the Nazis. They directly reference it as
               | "also a swastika, like our swastika".
        
               | Mo3 wrote:
               | > But it literally is the translation for swastika.
               | 
               | No, it is not. Even Hakenkreuz, in German, does not
               | translate to Swastika.
               | 
               | Hakenkreuz is, as typical for German, made up of two
               | distinct words - Haken, hook, and Kreuz, cross.
               | 
               | It is very likely that "Hakenkreuz" had simply at some
               | point developed upon seeing a Swastika and trying to
               | visually describe it in German, which would make it a
               | pointer/reference. A lot of German words have exactly
               | this mechanism of origin.
               | 
               | Now, I'm not trying to argue with you that a Hakenkreuz
               | simply used to be a reference/pointer to a Swastika, BUT
               | it was only until the original reference was appropriated
               | and perverted by the Nazi regime, making the resulting
               | output most definitely a new and distinct symbol with a
               | new, distinct symbolic meaning.
        
               | schroeding wrote:
               | I fail to see where you disagree with me, on the
               | ethmological part. Yeah, Hakenkreuz describes the
               | swastika, a "Kreuz" mit "Haken" on the ends, but then...
               | it still is just the German word for swastika, no? Like
               | "Hakaristi" is in suomi / finnish. "Eisenbahn" still is
               | just the word for railroad and not for "iron track", even
               | though it's technically correct :D
               | 
               | "This tempel has a big, golden swastika" could be
               | translated as: "Dieser Tempel hat ein grosses goldenes
               | Hakenkreuz" or "Dieser Tempel hat eine grosse goldene
               | Swastika", neither of them is wrong, even today.
        
               | chimeracoder wrote:
               | > Hakenkreuz is not "literally the name for a swastika".
               | Hakenkreuz literally translates to hooked cross. It has
               | nothing to do with a Swastika and the Swastika was not
               | the blueprint or inspiration for the Hakenkreuz.
               | 
               | This is mind-boggling revisionism. The swastika was a
               | well-known symbol even in Europe by the beginning of the
               | 20th century, recognized as an Eastern ("Oriental")
               | symbol, and Europeans even had a general, albeit
               | bastardized, understanding of its meaning. In fact, you
               | can still see examples of pre-Nazi swastika use in parts
               | of Europe today, in older buildings and designs, although
               | those have been getting replaced over the years. Most
               | recently, Finland's air force dropped the swastika from
               | their imagery. They had adopted the symbol in 1918, by
               | which point the swastika was a popular symbol in
               | Europe[0].
               | 
               | It's wild to claim that the Nazis were somehow completely
               | unaware of the symbol they were using, especially because
               | the Nazis themselves were so open about their
               | (revisionist and ahistorical) beliefs regarding the
               | "Aryan master race".
               | 
               | You're trying to draw a distinction between the word
               | "Hakenkreuz" and "swastika", and that distinction simply
               | does not exist. "Swastika" is the original, Sanksrit name
               | for a symbol that was (and is) used in religious imagery,
               | and which was later appropriated for political purposes
               | by far-right authoritarians in Germany. Those Germans
               | used a German descriptor for that symbol, but there is no
               | question about where they got that symbol from, because
               | they made zero efforts to hide it.
               | 
               | [0] https://www.bbc.com/news/world-europe-53249645
        
               | Mo3 wrote:
               | I am not quite sure what you're trying to argue about.
               | The Swastika has been around for a long time, the
               | Hakenkreuz may or may not be inspired by it, however the
               | Nazis not once used the term Swastika, or referred to it.
               | The common mistranslation of Hakenkreuz to Swastika in
               | the English speaking world is a deliberate mistranslation
               | propagated by a British Christian priest.
        
               | skrtskrt wrote:
               | So you're simultaneously saying that
               | 
               | 1. the Swastika symbol has been around a long time, been
               | used by many cultures and countries, is basically
               | universally recognized
               | 
               | 2. but when the Nazis used it, it's not Swastika, because
               | they called it something different, so there's no way to
               | know if they were influenced by the identical symbol that
               | everyone already knew about
        
               | Mo3 wrote:
               | 1) Yes
               | 
               | 2) No, it might have been influenced in some way, but
               | it's still not the same symbol. Neither symbolic nor
               | visually.
        
               | chimeracoder wrote:
               | > 2) No, it might have been influenced in some way
               | 
               | Again, just to be clear, it's not that "it might have
               | been influenced in some way". It's that Adolf Hitler
               | specifically talked about his reasons for using the
               | swastika in his manifesto.
               | 
               | > Neither symbolic nor visually.
               | 
               | As explained at length elsewhere in this thread, the two
               | symbols are not visually distinguishable without
               | additional context. You can easily find religious uses of
               | a swastika which are literally visually identical to Nazi
               | uses of a swastika.
        
               | chimeracoder wrote:
               | > The Swastika has been around for a long time, the
               | Hakenkreuz may or may not be inspired by it
               | 
               | Adolf Hitler literally explains his use of the symbol,
               | and its origins, in _Mein Kampf_. There is no  "may or
               | may not", unless you are somehow trying to argue that
               | Adolf Hitler is not an authoritative primary source on
               | Nazism.
               | 
               | > the Nazis not once used the term Swastika
               | 
               | I don't know if this is true (and I'm disinclined to take
               | this claim at face value), but even if it is, it's
               | besides the point. The fact that the Nazis openly took a
               | symbol from another source, admitted that they did so
               | _because of the connection to that other source_ , and
               | then appropriated it for a different purpose is what's
               | relevant, not the fact that they chose a German
               | descriptor when talking about that symbol instead of
               | using a loanword.
        
               | Mo3 wrote:
               | You mean this part in Mein Kampf?
               | 
               | > "I myself, meanwhile, after innumerable attempts, had
               | laid down a final form; a flag with a red background, a
               | white disk, and a black hooked cross in the middle. After
               | long trials I also found a definite proportion between
               | the size of the flag and the size of the white disk, as
               | well as the shape and thickness of the hooked cross."
               | 
               | > "As National Socialists, we see our program in our
               | flag. In red, we see the social idea of the movement; in
               | white, the nationalistic idea; in the hooked cross, the
               | mission of the struggle for the victory of the Aryan man,
               | and, by the same token, the victory of the idea of
               | creative work."
               | 
               | Nowhere, in the whole book, is the Swastika and its
               | symbolic meaning mentioned as a direct inspiration for
               | the Hakenkreuz. Instead, the Nazis attributed their own
               | ideology to the symbol, but not even to the Swastika
               | itself, but to it's form, and furthermore that doesn't
               | change anything about the Swastika itself.
               | 
               | Wikipedia states;
               | 
               | > The swastika was also understood as "the symbol of the
               | creating, effecting life" and as "race emblem of
               | Germanism"
               | 
               | You know what, I'm going to attribute huge penises to the
               | McDonalds symbol, so any big penis is from now on Ronald
               | McDonald.
        
               | E4YomzYIN5YEBKe wrote:
               | Hakenkreuz is not the German word for swastika anymore
               | than swastika is the Sanskrit word for Hakenkreuz.
        
               | chimeracoder wrote:
               | > Hakenkreuz is not the German word for swastika anymore
               | than swastika is the Sanskrit word for Hakenkreuz.
               | 
               | In the sense that a dictionary translates one to the
               | other and vice versa, sure, you're correct.
        
               | schroeding wrote:
               | You're right, and it's easily provable by looking at old
               | literature. The word "Hakenkreuz" is ancient and was used
               | in the 19th century[1], decades before the national-
               | socialism.
               | 
               | I have a hard time understanding why so many people
               | _want_ them to be two different symbols. The symbol is
               | not the problem, but the meaning it conveys, right? The
               | context matters, see the difference between Germany and
               | Finland - both used the Hakenkreuz, but they are not the
               | same, as the context is different, isn 't it?
               | 
               | Context is everything. The German Army still uses a
               | version of the Iron Cross, but the context is different -
               | using the same symbol on a flag from the German Empire
               | has a vastly different meaning.
               | 
               | [1] For example: https://books.google.de/books?id=VbkNkkg
               | HvYgC&pg=PA1&printse...
        
               | Mo3 wrote:
               | > The symbol is not the problem, but the meaning it
               | conveys, right?
               | 
               | Correct me if I'm wrong, but if you take a symbol, rip
               | out its symbolic meaning, replace the symbolic meaning
               | with a completely new symbolic meaning, in my opinion you
               | end up with a new symbol that may share some visual
               | aspects, but has nothing to do with the other symbol in
               | terms of what a symbol actually is - conveying symbolic
               | meaning. It's still going to be a new symbol with
               | different context, and calling a Hakenkreuz (as used by
               | the Nazi regime) a Swastika is more likely incorrect than
               | correct.
               | 
               | Appropriation and following complete perversion of the
               | original symbolic meaning does not make the resulting
               | output interchangeable with the original symbol.
        
               | schroeding wrote:
               | I searched for the original text in Mein Kampf in German,
               | he wrote:
               | 
               | "Ich selbst hatte unterdes nach unzahligen Versuchen eine
               | endgultige Form niedergelegt; eine Fahne aus rotem
               | Grundtuch mit einer weissen Scheibe und in deren Mitte
               | ein schwarzes Hakenkreuz"
               | 
               | As established[1], the word Hakenkreuz was already used
               | at that point to describe the swastika, including in the
               | original religious meaning. So he wrote "a black
               | swastika". Translating it as "hooked cross" is IMO like
               | translating "kindergarten" to "child garden", technically
               | correct, but weird.
               | 
               | > Correct me if I'm wrong, but assigning new symbolic
               | meaning to a symbol results in a new, unrelated symbol.
               | 
               | Does it? The German Bundeswehr still uses the Iron Cross.
               | It's the same symbol, it has the same name, the same
               | origin. But doesn't the meaning differ, whether you see
               | it on a German tank now or on a tank of the Imperial Army
               | in WW1 or the neck of a german officer in WW2?
               | 
               | I'm not sure whether or not there is a definition of
               | symbol. If you define a symbol as a character or icon
               | paired with a certain meaning, then you're right. But
               | that would imply that e.g. the weird S[2] everyone draw
               | at school was a different symbol every time. Would you
               | agree with that?
               | 
               | [1] see my link to the old book, or just search on Google
               | Books for "Hakenkreuz" in the 19th century [2]
               | https://en.wikipedia.org/wiki/Cool_S
        
               | Mo3 wrote:
               | > But that would imply that e.g. the weird S[2] everyone
               | draw at school was a different symbol every time.
               | 
               | I'm not sure, this symbol is not known in Germany or at
               | least has not been when I went to school there, but if
               | the general context, meaning or reference of all of these
               | S symbols is the same, and no matter the exact visual
               | representation the intent behind it was the same, then
               | yes. It's probably the same symbol, but again I'm not an
               | expert on symbols.
               | 
               | > Does it? The German Bundeswehr still uses the Iron
               | Cross. It's the same symbol, it has the same name, the
               | same origin. But doesn't the meaning differ, whether you
               | see it on a German tank now or on a tank of the Imperial
               | Army in WW1 or the neck of a german officer in WW2?
               | 
               | Yes, the intent behind displaying the symbol is
               | different. I believe it could be regarded as a new
               | iteration of this symbol.
        
               | schroeding wrote:
               | Ok, fair enough, then we just have different definitons
               | of symbols, and there apparently is no hard definition.
               | :D
               | 
               | > I'm not sure, this symbol is not known in Germany or at
               | least has not been when I went to school there
               | 
               | Interesting, it was when I went to school! Maybe it's not
               | as universal as the internet thinks it is. But the
               | meaning surely was different, in my class it was used by
               | the class clown as a personal symbol of approval :D
        
               | chimeracoder wrote:
               | > I have a hard time understanding why so many people
               | want them to be two different symbols.
               | 
               | Neo-Nazis have spent years spreading misinformation about
               | this, because (ironically) conflating the two allows them
               | to use Nazi imagery more openly and with a greater degree
               | of plausible deniability[0]. Unfortunately, that means
               | that the vast majority of people who don't know any
               | better[1] end up falling for the propaganda, because it
               | _sounds_ believable.
               | 
               | [0] You'll see a low-effort verison of this on places
               | like Twitter or other Internet forums, where people will
               | write U+5350 in their display name or signature, and when
               | called out on it, will immediately claim that "it's
               | religious and you can tell by the direction it's
               | pointing" (which is wrong). Of course, actual Neo-Nazis
               | will openly use that exact character (U+5350) as a Nazi
               | symbol with no concern for the direction or orientation -
               | because, again, it's not about distinguishing the two;
               | it's about creating plausible deniability through
               | confusion.
               | 
               | [1] eg, people who are not Hindu (and therefore would be
               | familiar with its religous use) or Neo-Nazis (and
               | therefore would be familiar with its Nazi use)
        
               | mise_en_place wrote:
               | > Contrary to popular misconception, there is no inherent
               | difference between a swastika as used in religious
               | imagery and a swastika as used by the Nazis.
               | 
               | This is just plain wrong, I'm not sure what the
               | counterfactual is here. The Nazi symbol is rotated by 45
               | degrees, the other one isn't. Context doesn't matter one
               | bit, they're two distinct sigils. You could make the
               | argument that the swastika heavily influenced the
               | creation of Hakenkreuz, but they are two distinct
               | symbols.
        
               | chimeracoder wrote:
               | > This is just plain wrong, I'm not sure what the
               | counterfactual is here. The Nazi symbol is rotated by 45
               | degrees, the other one isn't.
               | 
               | No, you are incorrect. The Nazi one is often "rotated",
               | but it is not always. It's quite easy to find photos
               | where it is not, such as this from Nuremberg in 1937.
               | https://www.gettyimages.com/detail/news-photo/nuremberg-
               | rall...
               | 
               | The religious swastika does not have inherent
               | directionality; its orientation depends on the context in
               | which it is used.
        
             | lm28469 wrote:
             | > I'm surprised by the connections made.
             | 
             | Increasingly more people see the world through a very
             | limited set of prisms. Lots of people online tend to see
             | everything through racism/sexism/whateverism and will make
             | connections where there are none. It's an easy way to
             | discredit the people you're talking with by inferring
             | meaning.
             | 
             | Critic Zelensky on a specific topic: you're pro Putin
             | 
             | Critic a woman politician: you're sexist
             | 
             | Use a company that used the word "gas", you're obviously
             | antisemitic
             | 
             | Once it's out there on twitter &co nobody will even attempt
             | to verify the facts (in this case the two obvious
             | explanations you provided) and will just parrot the thing
             | ad infinitum
        
               | hintymad wrote:
               | I view it as a failure of education. Education should
               | produce well-rounded people who are happy, tolerant, and
               | calm. Yet the US, for whatever reasons, has been
               | producing these kind of angry, impulsive, and less
               | tolerant students. Ironically, they are also the bunch
               | who are easily subject to hoaxes and can't tell
               | information from opinion.
        
               | llanowarelves wrote:
               | The most intolerant (despite calling themselves the most
               | tolerant) win.
               | 
               | https://medium.com/incerto/the-most-intolerant-wins-the-
               | dict...
        
               | noirbot wrote:
               | Some of it is also just the difficulty of differentiating
               | between an intentionally sneaky bit of whatever-ism and
               | an accident. A finance institution using a star of david
               | is borderline enough that any savvy marketing person
               | wouldn't have let that go out. The use of "gas" on top of
               | it is just silly.
               | 
               | There's certainly some amount of what you're pointing
               | out, but given how much of modern politics and
               | communication is done in dog whistles, with people making
               | this level of borderline content and then going "how dare
               | you think I'm intending anything by this accident" when
               | they make an "accident" weekly, it's becoming more
               | important to at least be suspicious of "innocent
               | mistakes" by people who should know better.
               | 
               | A company with this much money and international reach is
               | crazy to do a major branding move and then be shocked
               | that people misinterpret it. It's unfortunate that people
               | assume the worst, but at this point, personally and in
               | business PR, you have to understand that people will
               | assume the worst, so to release something like these
               | anyways is either an intentional choice or negligence.
        
             | chimeracoder wrote:
             | > That's a swastika symbol which is common in Asia (where
             | binance and its founder is from). The nazi symbol is tilted
             | and has an opposite image to it.
             | 
             | I'll probably get hammered for saying this, but: no, that's
             | not true.
             | 
             | There are many variations of the swastika, and it's not as
             | simple as "look which way it's facing" or "see if it's
             | tilted". That's a common meme often repeated on the
             | Internet, but it's not true and it's trivially falsifiable,
             | because it's quite easy to see religious uses of the
             | swastika with various different orientations and
             | directions. It's also not hard to find examples of Nazi
             | imagery - both from the 20th century and contemporary -
             | which uses an untilted swastika. Context is what
             | differentiates them, not the direction or angle.
             | 
             | > I'm surprised by the connections made.
             | 
             | As someone who works in incident response, I'm more
             | surprised by their statement, because it really falls short
             | on every level, _even if_ we take it at face value.
             | 
             | I'm more surprised that nobody on the team managed to
             | notice the obvious Star of David in that image. Even
             | without the text, it's an astoundingly bad look for a
             | company in the financial space to use that imagery, and if
             | their claim is that nobody involved in the design spotted
             | the issue, that's itself quite concerning and raises even
             | more questions.
             | 
             | I'm also surprised that an account that currently has _8
             | million followers_ is trying to blame this on an intern.
             | Intern projects don 't just happen to get publicly
             | presented like that on a whim. Even for small companies,
             | but especially for ones verified Twitter accounts and which
             | are trying to be taken seriously, brand presence is very
             | actively managed and a lot of effort goes into every post.
             | 
             | "Blaming the intern" is a tactic that people used a decade
             | ago, but you see it much less these days because it stopped
             | being plausible. And if we're expected to believe it here,
             | then that just raises more questions about how they managed
             | to provide an intern with unfettered access like this to
             | announce a product with (apparently) zero oversight at any
             | point.
        
               | stickyricky wrote:
               | Do you believe then that Binance is a neo-nazi
               | organization?
        
           | [deleted]
        
           | meerita wrote:
           | OMG, seriously.
        
           | 99_00 wrote:
           | Those symbols don't have the same meaning in non-western
           | contexts.
           | 
           | You are being extremely Eurocentric and colonial in your
           | attempt to strip others of their non-white culture.
        
             | llanowarelves wrote:
             | Americans are more obsessed with Nazis and the Holocaust
             | etc. than the countries where it actually happened.
        
           | cuteboy19 wrote:
           | Four dot + non-rotated swastika is an asian religious symbol.
           | 
           | Accusing CZ of being a Nazi is .... Interesting. Though I
           | guess it is in Vogue considering a Jewish president is also
           | being accused of being a Nazi
        
             | ipaddr wrote:
             | Which becomes true if supporting neo-nazi groups fighting
             | in Mariupol against Russia is included.
             | 
             | There are very few saints in war.
        
           | hintymad wrote:
           | It's a shame that someone who frequented HN is not aware of
           | chirality.
        
             | djbusby wrote:
             | I'm here pretty often and have never heard that word. For
             | other like me (from a quick search):
             | 
             | Chirality is simply a geometric property which dictates
             | that the mirror transformation of an object is a non-
             | identity operation, i.e. the object and its mirror image
             | are non-superimposable by any translation or rotation.
        
               | hintymad wrote:
               | I didn't mean the term itself but the geometric property
               | in the context of different swatika symbols.
        
               | gilleain wrote:
               | Indeed, anyone who has two hands should be awate of
               | chirality.
        
       | nytesky wrote:
       | Facebook, Coinbase, all these companies publicly announcing
       | hiring freezes. There should be plenty of other tech companies
       | and non tech hiring, but will this soften wages?
        
         | ripper1138 wrote:
         | All those crazy 500k+ offers going around over the last 6
         | months are already softer thanks to RSU value dropping. Some
         | people are already getting 30% less then they thought they were
         | getting (at least for now).
        
           | ldjkfkdsjnv wrote:
           | The big secret is those companies knew a sell off was
           | imminent and that their stock was overvalued. The 500k offers
           | were really 350k offers in disguise.
        
             | ripper1138 wrote:
             | Totally agree
        
             | jstx1 wrote:
             | I really doubt this. Why do you think they knew a sell off
             | was imminent?
        
               | fullshark wrote:
               | Just they went public
        
               | peyton wrote:
               | At the $1T+ scale, their CFOs are constantly road-
               | tripping to find new institutional buyers. It stands to
               | reason they'd perhaps know which way the wind was blowing
               | based on those interactions.
        
               | buzzthro wrote:
               | Why would they need to go woo institutional buyers? At 1T
               | they're already probably part of S&P 500 and other
               | standard investment indexes. All the mutual funds, ETFs,
               | pension plans are bought into them.
        
               | rbinv wrote:
               | Honest question: what does a public company have to gain
               | by convincing institutional buyers to buy its stock? I
               | can't imagine that to have any lasting effect on the
               | stock price.
        
               | cwmoreiras wrote:
               | Because they have financial analysts working for them.
        
               | somebodythere wrote:
               | If hedge funds can't reliably predict a market crash, why
               | do you think a team of accountants at an Amazon office
               | can? And if they could, why don't they exit their core
               | business and get into trading stocks?
        
               | wbsss4412 wrote:
               | The difference is between a reliable prediction and a
               | precise and timely prediction.
        
               | jmopp wrote:
               | The accountants at Amazon have material non-public
               | information that they can't act on for obvious reasons,
               | but if they know beforehand - for instance - that sales
               | aren't growing as fast as they used to, or that luxury
               | purchases are trending downward, they can forecast that
               | their own price might slump in the next few months.
        
               | mateo411 wrote:
               | They can still buy and sell their own company, but they
               | have to respect the black out dates.
        
               | colinmhayes wrote:
               | It's all about timing.
        
               | nowherebeen wrote:
               | > hedge funds can't reliably predict a market crash
               | 
               | Hedges can predict a recession is coming, just not the
               | timing. They have been saying it for the last 12 months.
               | 
               | > a team of accountants at an Amazon
               | 
               | Amazon hires ex-bankers to work for them. They aren't a
               | team of accountants. It's a cushy corproate job that many
               | bankers take. It's good to do when you don't want to
               | hustle long hours anymore.
               | 
               | > And if they could, why don't they exit their core
               | business and get into trading stocks?
               | 
               | What?!
        
               | ushakov wrote:
               | for me personally it was rate-hike rumors/announcement by
               | the Fed
               | 
               | in high-rate environment high-risk high-growth stocks are
               | unattractive, so investors pull the money out and invest
               | it into "safer" assets
               | 
               | don't forget that many investors are leveraged too and a
               | sale of one big investor might trigger a selloff chain
               | reaction
        
               | hypomanic wrote:
               | it's easy to predict the past
               | 
               | did you short?
        
               | ushakov wrote:
               | i don't short, but i buy more at lower price
               | 
               | it's well-known economic fact that after a crisis there's
               | always recovery
        
               | iamacyborg wrote:
               | How'd that work out for Enron?
        
               | jakear wrote:
               | Insider trading is illegal for a reason.
        
         | mywittyname wrote:
         | Well, there are two categories of wages for tech workers:
         | FAANGs and everyone else.
         | 
         | If the tech stock bloodbath continues, that certainly will
         | impact wages on the FAANG side. People might start leaving for
         | places that offer more cash comp, or FAANGs might increase RSUs
         | to compensate.
         | 
         | It seems like a lot of the recent wage growth is at the lower-
         | mid tiers, which make up the bulk of the industry. So, if
         | companies that pay in the $80-120 range start cutting back on
         | hiring, we might see a softening of wages for normal
         | developers. I have not seen this happening...yet.
        
           | buzzthro wrote:
           | Not necessarily. The FAANG stock prices are low right now due
           | the overall market slump (except may be FB or NFLX). They
           | will highly likely bounce back along with the rest of the
           | market in a while. So getting a fat count of RSUs from a
           | FAANG company at a bargain price (usually based on price
           | on/around starting date) may likely have a huge payoff in a
           | few years.
        
             | laluser wrote:
             | I agree, but you are still betting on a lottery ticket
             | here. Likely, a lot of companies might not recover and just
             | slowly grow (Netflix?) and not make too much movement.
        
         | tedivm wrote:
         | I've gone through several jobs over the last year (I managed to
         | join a company that got acquired by a company I wasn't happy
         | with).
         | 
         | Smaller and medium companies are offering great salaries right
         | now. I took an offer for over $300k just on salary. I know
         | others who are jumping ship from the big companies to smaller
         | ones while still getting a big bump in salary. Even with this
         | market slump there are far more open positions than there are
         | people to fill them, which means those people can demand quite
         | a bit.
        
           | bogomipz wrote:
           | Can I ask what space you work in where they are offering 300K
           | base at a smaller or medium company? Is this in
           | Finance/Fintech ?
        
             | tedivm wrote:
             | I've avoided fintech in my career- I currently work for a
             | company called Aptible (currently hiring, and with great
             | revenue so we're not dependent on investment) that manages
             | infrastructure for companies that need HIPAA compliance.
             | 
             | That said I interviewed for a bunch of companies, and with
             | the exception of a small few all of the salaries were above
             | $250k. This is for principal level roles.
        
           | laluser wrote:
           | Demand is still huge for tech jobs. Even outside of tech,
           | there are more jobs than there are people to fill them.
        
         | laluser wrote:
         | Facebook and Coinbase are unique cases. Coinbase was fueled by
         | cheap money and crypto craze. Facebook is ceding way to TikTok
         | and due to huge investments in VR tech. Companies with profits
         | should tighten the hatches and come out fine after 12-18
         | months.
        
       | linuxftw wrote:
       | Previously they had announced expanding their NFT offerings.
       | Hopefully the executives realized that was a fruitless endeavor.
        
       | dominotw wrote:
       | why do they post this public blogpost. Companies change their
       | hiring patterns all the time. I don't understand why they need to
       | make a blog post about it.
        
         | otterley wrote:
         | Possibly because they think investors need to know about it -
         | since they are a publicly-traded company - and want to avoid
         | running afoul of SEC regulations. (Note: I am not a securities
         | lawyer; this is admittedly a guess.)
        
           | thebean11 wrote:
           | A blog post to not run afoul of SEC regulations? I don't
           | think so..they could easily bring this up at earnings.
        
             | otterley wrote:
             | I'm not a securities lawyer but I can imagine that some
             | material information might need to be disclosed
             | immediately. I'd love a more knowledgeable person to chime
             | in.
        
               | benmanns wrote:
               | Coinbase did make an SEC filing copy of the blog post: ht
               | tps://www.sec.gov/Archives/edgar/data/0001679788/00011046
               | 5...
               | 
               | > _On May 16, 2022, Coinbase Global, Inc. ("Coinbase" or
               | the "Company") issued a blog post (the "Blog Post")
               | relating to its hiring plans. In connection with the Blog
               | Post, Coinbase affirmed its expense outlook for the
               | second quarter of 2022 and full year 2022 that the
               | Company provided on May 10, 2022 in a letter to its
               | shareholders announcing its financial results for the
               | quarter ended March 31, 2022. A copy of the Blog Post is
               | furnished as Exhibit 99.1 to this Current Report on Form
               | 8-K._
               | 
               | > _Coinbase announces material information to its
               | investors using filings with the Securities and Exchange
               | Commission, the Company's website at www.coinbase.com and
               | blog.coinbase.com, as well as press releases, public
               | conference calls, public webcasts, its Twitter feed
               | (@coinbase), its Facebook page, its LinkedIn page, its
               | YouTube channel, and Brian Armstrong's Twitter feed
               | (@brian_armstrong). Therefore, Coinbase encourages
               | investors, the media and others interested in the Company
               | to review the information it makes public in these
               | locations, as such information could be deemed to be
               | material information._
               | 
               | > _The information in Item 7.01 of this Current Report on
               | Form 8-K, including Exhibit 99.1, is being furnished and
               | shall not be deemed "filed" for the purposes of Section
               | 18 of the Securities Exchange Act of 1934, as amended
               | (the "Exchange Act"), or otherwise subject to the
               | liability of such section or incorporated by reference in
               | any filing under the Securities Act of 1933, as amended,
               | or the Exchange Act, except as shall be expressly set
               | forth by specific reference in such a filing._
               | 
               | So whether or not they were _required_ to communicate the
               | slowdown, they did at least consider the post to be
               | material information that needed to be communicated with
               | investors.
        
               | vmception wrote:
               | Nice, they covered their ass
        
               | ectospheno wrote:
               | If someone employed there wants to trade then they have
               | to announce or risk insider trading. When the trade can't
               | wait until the usual information release then you will
               | see sudden announcements like this.
        
             | CydeWeys wrote:
             | Earnings only happen quarterly. There's lots of events that
             | need to be communicated more urgently than that. And
             | there's no way you could keep a lid on something like this
             | for up to potentially 90 days. People (internally and
             | externally) are going to notice that no one is being hired
             | there anymore.
        
               | CydeWeys wrote:
               | And it's worth pointing out that large companies are
               | _constantly_ posting disclosures, sometimes as frequently
               | as daily. Here 's one example (Google):
               | https://sec.report/Ticker/GOOG
               | 
               | The bar for disclosure is quite low, and is not dependent
               | on quarterly cycles.
        
         | mike10921 wrote:
         | The point is for outside investors to ensure them that money is
         | well spent and the company is on path to success. Common for
         | public companies to do this.
        
           | hef19898 wrote:
           | For those depending on investor money to survive, aka the
           | cash-flow-after-funding crowd. For others not so much, those
           | only communicate head count reductions most of the time.
        
         | Vladimof wrote:
         | I think they are trying to get the price of crypto to drop....
         | to be able to buy back .... I dropped Coinbase long ago, they
         | manipulate the market too much (I.E.: You can't sell if price
         | drastically go up, etc)
        
         | next_xibalba wrote:
         | Coinbase has seen their stock price plummet by 80% in the last
         | 6 months. For comparison, the NASDAQ is down 25% and the
         | Russell 3000 is down 16% over that same period. In other words,
         | Coinbase has performed much worse than most other equities.
         | 
         | This decline in stock price was exacerbated by the recent crash
         | in crypto prices and a large net income loss in Coinbase's most
         | recent quarterly results.
         | 
         | All of this to say, investors' confidence in Coinbase has been
         | absolutely rattled. An announcement of a hiring slowdown/freeze
         | or layoffs could accelerate the Coinbase sell off if it is
         | misinterpreted as evidence of a meltdown of the business. So
         | Coinbase is trying to get out in front of and own the message
         | around their change in hiring patterns. "We are acting as good
         | stewards of your investment, and no reason to panic."
         | 
         | This post surely addresses many stakeholder groups, but
         | investors seem to be the primary constituency that is being
         | reassured.
        
           | MomoXenosaga wrote:
           | If crypto is mostly a "get rich quick" scheme and shortcut to
           | riches plummeting prices will cool down the hype fast.
           | There's no such thing as a money printing machine that
           | doesn't backfire.
        
             | duped wrote:
             | It's not a get rich quick scheme, it's a Ponzi scheme. o
             | Once you can't convince new suckers to buy in the system
             | collapses and the one left holding the bag loses
             | everything.
        
               | maerF0x0 wrote:
               | if that's a ponzi scheme then so is the USD.
        
               | burntoutfire wrote:
               | The USD has intrinsic value - the US government insists
               | on receiveing its taxes in USD, and only in USD. This
               | alone creates trillions of dollars per year of real
               | demand for USD. Crypto doesn't have anything like it.
        
       | agentultra wrote:
       | Why not just shut down now and give everyone a nice package
       | instead of dragging it out and laying folks off with nothing/the-
       | minimum-legally-required?
       | 
       | Has anyone thought of doing that with a business or is the
       | default instinct to fight it out until the bitter end?
        
       | etaioinshrdlu wrote:
       | I heard rumors that they are actually planning layoffs.
        
         | ripper1138 wrote:
         | The amount of hiring in the past 12 months is insane.
        
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