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What makes you say the value of their contribution is minor? Is there some public basis for that sort of claim to be found elsewhere?

flashgordon 4y ago
Umm have your seen what their financial performance? At least somewhat fair that you know Coinbase's product has some impact on stock price!
qeternity 4y ago
Coinbase is down 88% from all time highs, and slightly less from its IPO. Coinbase has an $11.6b market cap which means he extracted a little under 1% of the entire company’s value in two years.
- onlyrealcuzzo 4y ago
  > Coinbase is down 88% from all time highs, and slightly less from its IPO. This has nothing to do with "product", though. Memestocks are down ~80%. Crypto prices down ~70%. Volumes are down even more in many segments... >97% for NFTs. Just because Coinbase was at one time valued almost 10x what it is now, doesn't mean that was the correct value - and "product" ruined it.
  - newswasboring 4y ago
    Yeah, but isn't it the chief product officers job to figure out how to isolate their company from this?
- justinbaker84 4y ago
  Yes but if you look at the balance sheet they have about 6 billion in net assets (assets minus liabilities) so the value of the company itself is really more like 5.6 billion. This is a little tricky because company valuation in many cases is a combination of the value of owned assets and the expected value of the actual operations of the company. So he really extracted more like 2% of the value of the operations of company itself.
phillipcarter 4y ago
https://twitter.com/Carnage4Life/status/1522046933258293248 https://twitter.com/Carnage4Life/status/1522046933258293248 This is his legacy
- jxramos 4y ago
  excellent context, thank you
dahdum 4y ago
> What makes you say the value of their contribution is minor? Excluding the stock performance entirely, they've released no particularly successful or even interesting products under his tenure. He comes from Google where he worked on ads and shopping, so honestly that tracks pretty well. Google (not Alphabet) hasn't done anything interesting or innovative in a long time now either.

flashgordon 4y ago

Umm have your seen what their financial performance? At least somewhat fair that you know Coinbase's product has some impact on stock price!

qeternity 4y ago

Coinbase is down 88% from all time highs, and slightly less from its IPO. Coinbase has an $11.6b market cap which means he extracted a little under 1% of the entire company’s value in two years.

onlyrealcuzzo 4y ago
> Coinbase is down 88% from all time highs, and slightly less from its IPO. This has nothing to do with "product", though. Memestocks are down ~80%. Crypto prices down ~70%. Volumes are down even more in many segments... >97% for NFTs. Just because Coinbase was at one time valued almost 10x what it is now, doesn't mean that was the correct value - and "product" ruined it.
- newswasboring 4y ago
  Yeah, but isn't it the chief product officers job to figure out how to isolate their company from this?
justinbaker84 4y ago
Yes but if you look at the balance sheet they have about 6 billion in net assets (assets minus liabilities) so the value of the company itself is really more like 5.6 billion. This is a little tricky because company valuation in many cases is a combination of the value of owned assets and the expected value of the actual operations of the company. So he really extracted more like 2% of the value of the operations of company itself.

phillipcarter 4y ago

https://twitter.com/Carnage4Life/status/1522046933258293248 https://twitter.com/Carnage4Life/status/1522046933258293248 This is his legacy

jxramos 4y ago
excellent context, thank you

dahdum 4y ago

> What makes you say the value of their contribution is minor? Excluding the stock performance entirely, they've released no particularly successful or even interesting products under his tenure. He comes from Google where he worked on ads and shopping, so honestly that tracks pretty well. Google (not Alphabet) hasn't done anything interesting or innovative in a long time now either.