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Not necessarily. If your market evaporates, you can't really blame it on product.
by jnwatson 4y ago
Not necessarily. If your market evaporates, you can't really blame it on product.
- Forgeties79 4y ago>If your market evaporates, you can't really blame it on product. Come again?
- jstx1 4y agoIt means that nobody could have prevented the crypto market collapse from the position of a Coinbase Chief Product Officer.
- Forgeties79 4y agoI mean...we've seen these massive boom and bust cycles over and over again. So yeah I do sort of expect the Chief Product Officer to have some clue how to handle them. It's not like it was out of the blue.
- _Algernon_ 4y agoHandling them is not the same as preventing them.
- Forgeties79 4y agoFair enough. Don't personally agree but seems I've kicked a hornet's nest here.
- Retric 4y agoHandling them means preventing the company from being harmed by them. To simplify, if you depend on market X then hedging your bet means also profiting if market X collapses.
- _Algernon_ 4y agoThere are plenty of situations where that is impossible, and the best you can do is minimizing harm.
- TomSwirly 4y ago1. He tried to sell a product 2. This product turns out to be a scam 3. His fault for trying to sell a scam That this crook extracts $100 million for this is a symptom of a broken society.
- jstx1 4y agoCoinbase is not a scam - the service they provide is the buying and selling of cryptocurrency which they do just fine. I don't like crypto either but calling everything related to it a scam is just intellectually lazy.
- Forgeties79 4y agoThe marketplace for a scam is still participating in the scam. A bank knowingly laundering money for a criminal organization is still an accomplice.
- newswasboring 4y agoI think that's the best place to prevent collapse. They were industry leaders, for some time at least. They funded a bunch of things which turned out to be scams, biggest one being FTX. If internet collapses, I think google will be a bit to blame, no?
- insane_dreamer 4y ago> you can't really blame it on product indeed you can
- Invictus0 4y agoIf there's no more gold in the gold mines, you would blame that on the shovel manufacturer?
- 1270018080 4y agoThe shovel manufacturer made a bad product decision to not pivot when the mines were becoming empty.
- Invictus0 4y agoShould Charles Schwab start selling dildos every time there's a recession?
- munk-a 4y agoI don't know what your point here is but if they're lucrative in economic downturns then, yea, sure they should.
- 1270018080 4y agoIf that's the only choice when the other option is going out of business, sure?
- deleted 4y ago[deleted]
- defen 4y agoAt the same time, if you're the leader of a product that's going to succeed no matter what, maybe you shouldn't get paid $105 million.
- munk-a 4y agoMaybe, and this might be a controversial take, nobody should be paid $105 million - because maybe nobody is actually generating that much value on their own.
- dmoy 4y agoOr if they are paid, $105 million, it should be taxed at like a 90%+ rate and have that go towards the 30 million+ hungry people in the US.
- __alexs 4y agoIf it is extremely hard to attribute outcomes to individual contribution, maybe no one should get the $105m?
- mensetmanusman 4y agoCoinbase didn’t do enough to thwart the massive fraud and youtube-deepfake-powered-heists going on. Lots of sheep lost lots of money and look where we are now. The crypto winter will last 50 years.
- xbar 4y ago"Crypto winter" as a term of art assumes that any other season is reasonable.
- newswasboring 4y agoIt's not about reasonable, it's about reality, right? Like crypto in it's short history has seen summers and winters.
- newswasboring 4y agoYeah but that's not what Coinbase was. It was a industry leader. I think we can blame industry leaders if the industry evaporates like this.
- melenaboija 4y agoThis is like saying banks should not manage risk. I am sure that if you put your bucks in a bank account you want to seem them there when you check your balances otherwise you know who you will be blaming. Also, ask CEOs and Chief Risk Officers from financial institutions if they worry about evaporations. I am not surprised though about him walking away with the money and your comment in the crypto world.