12 ms·

Not seen this much fluff in a while - Coinbase is definitely a profit focused company.

austhrow743 6y ago
I exhaled heavily at this part >We are a for-profit business. When we make profit, we can use that to hire more great people, and build even more. Not what for profit means at all.
- bobsmooth 6y ago
  Isn't expansion the goal of every for-profit business?
  - austhrow743 6y ago
    1. No 2. Plenty of non-profits aim to expand
    - bobsmooth 6y ago
      I'm sorry, I don't understand your derision towards the line you quoted.
      - austhrow743 6y ago
        Only a for profit organisation can siphon off profit out of the organisation and give it to ownership. Either a for profit organisation or a not for profit organisation can reinvest profit to expand operations. In fact given the inability to do the first item, that's pretty much all not for profits ever choose to do with it. Sure they could maintain level of current service and reduce revenue, but none really choose to. Never seen one with a "no longer taking donations, we're good" page up. So given those two things, it's nonsensical to say >We are a for-profit business. When we make profit, we can use that to hire more great people, and build even more. However it gets even more ridiculous given that neither profit status nor expansion were the core topic of the post. The author didn't need to mention nor try to justify the for profit status of the organisation. So they went out of their way to shoehorn this nonsense line in for no reason.
        bobsmooth 6y ago
        I think I see where you're coming from. I don't think the author was trying justify being a for-profit. I read that line as "We are a business. Businesses exist to make money, not for social advocacy" But in more flowery language.
- kevinpet 6y ago
  I believe this is intended to be opposed to "when we make a profit we can start donating to a bunch of causes that we think matter which some people occasionally say.
deleted 6y ago
[deleted]

I exhaled heavily at this part >We are a for-profit business. When we make profit, we can use that to hire more great people, and build even more. Not what for profit means at all.

bobsmooth 6y ago
Isn't expansion the goal of every for-profit business?
- austhrow743 6y ago
  1. No 2. Plenty of non-profits aim to expand
  - bobsmooth 6y ago
    I'm sorry, I don't understand your derision towards the line you quoted.
    - austhrow743 6y ago
      Only a for profit organisation can siphon off profit out of the organisation and give it to ownership. Either a for profit organisation or a not for profit organisation can reinvest profit to expand operations. In fact given the inability to do the first item, that's pretty much all not for profits ever choose to do with it. Sure they could maintain level of current service and reduce revenue, but none really choose to. Never seen one with a "no longer taking donations, we're good" page up. So given those two things, it's nonsensical to say >We are a for-profit business. When we make profit, we can use that to hire more great people, and build even more. However it gets even more ridiculous given that neither profit status nor expansion were the core topic of the post. The author didn't need to mention nor try to justify the for profit status of the organisation. So they went out of their way to shoehorn this nonsense line in for no reason.
      - bobsmooth 6y ago
        I think I see where you're coming from. I don't think the author was trying justify being a for-profit. I read that line as "We are a business. Businesses exist to make money, not for social advocacy" But in more flowery language.
kevinpet 6y ago
I believe this is intended to be opposed to "when we make a profit we can start donating to a bunch of causes that we think matter which some people occasionally say.

deleted 6y ago

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