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Compare and contrast CB’s hiring with that of FTX[1] Coinbase “ We have now exceeded the limit of how many new employees we can integrate while growing our pr
by vishnugupta 4y ago
Compare and contrast CB’s hiring with that of FTX[1]
Coinbase
“ We have now exceeded the limit of how many new employees we can integrate while growing our productivity. For the past few months, adding new employees has made us less efficient, not more. We have seen ourselves slow down considerably due to coordination headwinds, and difficulty fully integrating new team members.”
FTX
“ It’s a race–between how quickly new employees understand the company's culture, and how quickly people are hired. The faster you hire, the harder it is to keep everyone on the same page.…. we wanted to make sure we could actually integrate everyone we hired into FTX's working culture.”
[1] https://twitter.com/sbf_ftx/status/1533946713366568962 https://twitter.com/sbf_ftx/status/1533946713366568962
- UncleMeat 4y agoThe FTX quote applies in so many circumstances. Tons of companies, organizations, and even teams have boom/bust hiring. No headcount for ages and then BOOM suddenly piles of headcount. This makes culture and knowledge sharing almost impossible.
- kolbe 4y agoFTX is interested in being a real business. I think a lot of people the past several years have failed to try to become a real sustainable business, and instead have been pawns in Benchmark's and Tiger Global's schemes to flip companies into the S&P or into a F500 acquisition. CEOs in the former build responsibly. CEOs in the latter build fast to scare the incumbents into an acquisition or co-investment to push the price high enough to get it into the S&P.