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“Today is a hard day for OpenSea, as we’re letting go of ~20% of our team.”
- johnfn 4y ago> We build this company with the cyclicality of crypto in mind How on earth can you say that in a layoff message? You hired these people anticipating you would then shortly fire them?
- Gigachad 4y agoYes, that’s quite obviously what they meant. It’s on demand flexibility that the free market loves. Although it’s not that they intended to fire them shortly, but at the point things went down which they didn’t know yet.
- colesantiago 4y agoGood. The OpenSea ship is sinking and the rats are getting pushed off to keep the NFT scamming boat afloat. I see this as a good thing after Celsius filed for bankrupcy [0], hopefully the entire crypto market should be all full of layoffs and shutdowns. [0] https://www.theguardian.com/technology/2022/jul/14/celsius-networks-cryptocurrency-lender-files-for-bankruptcy https://www.theguardian.com/technology/2022/jul/14/celsius-n...
- spaceman_2020 4y agoReminder that VCs invested in January 2022, right at the peak of the NFT bubble Volume has dropped 90% since then and a bunch of cheaper competitors have eaten into its marketshare. I should really get a job at a VC firm. I think I’m stupid enough
- bitxbitxbitcoin 4y agoYou know what they say, hindsight is spaceman_2020. Go get that job :).
- ethanbond 4y agoThe NFT stuff was obviously dumb well before it reached fever pitch. Let’s not act like everyone or even most people or even a lot of people were taken in by NFTs. The whole thing was a small number of people with huge amounts of money and very loud marketing.
- spaceman_2020 4y agoItt was practically all house money. People who bought ETH for under $10 or made 30-100x returns in crypto using their gains to flip jpegs. They managed to lure in a few suckers from retail but most of it was just money rotation between existing players. Any retail-focused play failed hard - like the Coinbase NFT marketplace.
- strikelaserclaw 4y agowell, if your an investor during the growth phase of the last 10-15 years, you must think yourself like you got mad skills.
- boxmonster 4y agoNo doubt a16z is making out like bandits
- faefox 4y agoAt least you could plant the tulips.
- Imnimo 4y agoThe "cartoon cat with a purple mohawk" NFT profile picture really fits perfectly here.
- vyrotek 4y agoSo they must have plenty of cash to provide those benefits, but the long-term outlook must be really grim. I don't think this is a "cut-once and deep" strategy. I expect a lot more later too.
- t_mann 4y agoTbf, that probably puts them just above the median of tech layoffs featured on HN over the last week.
- weare138 4y agoa lotta yall still dont get it. ape holders can use multiple slurp juices on a single ape. so if you have 1 astro ape and 3 slurp juices you can create 3 new apes.
- glitchcrab 4y agoBored ape is the perfect example of hype around an utterly pointless concept. The sooner this nonsense dies, the better.
- bluelightning2k 4y agoOpenSea and NFTs always struck me as the most absurd concept. I doubt anyone is remotely surprised. There is no comeback coming. Not sure frankly how a Craigslist for "ownership" of jpegs needs so many employees. Literally what are they doing. Having said that I do give them props for the generous severance and keeping healthcare going way longer than they have to. That's surprised me. Ironically the only positive thought I've ever had about that company is the way it executed a layoff.
- Gigachad 4y agoIt’s easy to see now that NFTs were a scam, but it was also quite easy to see that at the start as well.
- seydor 4y agowhat took so long
- floatinglotus 4y agoGary V: “Make the termination letters NFTs and people will want to buy and sell them.”