4 ms·

>accountability rests with me as the CEO There it is. Rings incredibly hollow when the same line was trotted out just a few months ago with zero impact or mean

>accountability rests with me as the CEO There it is. Rings incredibly hollow when the same line was trotted out just a few months ago with zero impact or meaning behind the statement, given it clearly didn't change anything.

blitzar 4y ago
> accountability rests with me as the CEO "As the accountability rests with me, I will be taking a 25% cut on my $60 million bonus this year"
- cj 4y ago
  For others reading: the $60 million number is his comp from 2020, $57 million in the form of stock options. I doubt he’s getting anything close to that in 2023.
  - blitzar 4y ago
    I hope he took puts for the options.
- imcreativhner 4y ago
  [dead]
senttoschool 4y ago
Yep. Also, Coinbase sells unregistered securities.
- m00dy 4y ago
  Thank you Gary.
jesuscript 4y ago
Unless he resigns along with the people he lets go, there is no accountability.
- cj 4y ago
  Would that really be desirable for the 80% who remain? More than likely, any career CEO who would be brought in to replace him would likely continue staffing cuts, not reverse them.
  - etchalon 4y ago
    Generally speaking, if the current pilot has ran your plane into a mountain twice, you probably want a new pilot.
    - cj 4y ago
      (Genuinely curious) how did he fly Coinbase into a mountain? (Other than the layoffs which are happening across the board at nearly all big tech)
      - bushbaba 4y ago
        That way over hired. The company missed the nft wave. And their expenses went out of control. A good ceo would have recognized during the first round of layoffs a deeper cut was necessary to bring the company to profitability.
  - somenewaccount1 4y ago
    He could forgoe 75% of his compensation though, and I doubt he will, because not actually accountable.
    - saalweachter 4y ago
      Hell, he could drop down to the 2x employee salary ratio from the 1960s.
a13o 4y ago
I don't get why every CEO is cargo culting this line in layoff announcements. It plays extremely poorly because it's clear there's no accountability.
- aliqot 4y ago
  because there is no consequence other than us rolling our eyes.
- deleted 4y ago
  [deleted]

blitzar 4y ago

> accountability rests with me as the CEO "As the accountability rests with me, I will be taking a 25% cut on my $60 million bonus this year"

cj 4y ago
For others reading: the $60 million number is his comp from 2020, $57 million in the form of stock options. I doubt he’s getting anything close to that in 2023.
- blitzar 4y ago
  I hope he took puts for the options.
imcreativhner 4y ago
[dead]

senttoschool 4y ago

Yep. Also, Coinbase sells unregistered securities.

m00dy 4y ago
Thank you Gary.

jesuscript 4y ago

Unless he resigns along with the people he lets go, there is no accountability.

cj 4y ago
Would that really be desirable for the 80% who remain? More than likely, any career CEO who would be brought in to replace him would likely continue staffing cuts, not reverse them.
- etchalon 4y ago
  Generally speaking, if the current pilot has ran your plane into a mountain twice, you probably want a new pilot.
  - cj 4y ago
    (Genuinely curious) how did he fly Coinbase into a mountain? (Other than the layoffs which are happening across the board at nearly all big tech)
    - bushbaba 4y ago
      That way over hired. The company missed the nft wave. And their expenses went out of control. A good ceo would have recognized during the first round of layoffs a deeper cut was necessary to bring the company to profitability.
- somenewaccount1 4y ago
  He could forgoe 75% of his compensation though, and I doubt he will, because not actually accountable.
  - saalweachter 4y ago
    Hell, he could drop down to the 2x employee salary ratio from the 1960s.

a13o 4y ago

I don't get why every CEO is cargo culting this line in layoff announcements. It plays extremely poorly because it's clear there's no accountability.

aliqot 4y ago
because there is no consequence other than us rolling our eyes.
deleted 4y ago
[deleted]