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I worked at Coinbase until very recently and can confirm this is Coinbase They paid upfront for 3 years of usage, and yes they were burning > $20m/year on data

I worked at Coinbase until very recently and can confirm this is Coinbase They paid upfront for 3 years of usage, and yes they were burning > $20m/year on datadog

skippyboxedhero 3y ago
Dear Lord...the commission on that hog. The sales team eating good.
- austhrow743 3y ago
  I was previously in sales and SaaS is considered the pinnacle of industries to be in for sales people. Medical device sales is the only real competitor when it comes to earning potential and my understanding is that's US specific and also comes with atrocious work life balance.
thinkmassive 3y ago
So you’re saying it’s $65 million over three years? The headline seems misleading, like it’s for a single month.
- KaiserPro 3y ago
  yes but 20 million dollars a year. 20 fucking million getting splunk with 1pb a month ingest isnt that expensive.
  - rednerrus 3y ago
    They'll probably throw in SignalFX for free if you ask them nicely.
  - quickthrower2 3y ago
    Please tell me I am allowed to say "you could just use grep and rsync". I must be allowed!
    - KaiserPro 3y ago
      but only if you have "as-a-service" attached to the end of it. or something with chatgpt
- coinbasethrow 3y ago
  Headline is slightly misleading Earnings call said it was an upfront cost
johnvanommen 3y ago
Back in the day I was auditing our support contracts for a place that I worked at. Basically figuring out if we were getting what we were paying for. My favorite "overpriced support contract" was for an Oracle product. The cost of support was seven figures, and in the entire year a single phone call had been placed to support.
- re-thc 3y ago
  Did that end up being a “support” call where they sold you more services?
- Macha 3y ago
  The best bit when I worked at one of those companies that had an expensive Oracle contract was this dynamic: 1. Can we use MySQL for <new product>? No, use Oracle, we have a support contract 2. <oracle related issue occurs> Can we call that support contract in now? No, let's try the inhouse expertise first. 3. <inhouse expertise comes up with barely passable hack> Can we check if they have any better solutions? No, it's "solved" now Like, what were we paying for? I have to assume there's per-engagement costs as well as the ongoing costs, given how hestitant our contract owning team were to let us anywhere near Oracle.
paulddraper 3y ago
> 3 years Okay, it seemed like it was 1 year. So, only insane, not insane^2.

I worked at Coinbase until very recently and can confirm this is Coinbase They paid upfront for 3 years of usage, and yes they were burning > $20m/year on datadog

skippyboxedhero 3y ago

Dear Lord...the commission on that hog. The sales team eating good.

austhrow743 3y ago
I was previously in sales and SaaS is considered the pinnacle of industries to be in for sales people. Medical device sales is the only real competitor when it comes to earning potential and my understanding is that's US specific and also comes with atrocious work life balance.

thinkmassive 3y ago

So you’re saying it’s $65 million over three years? The headline seems misleading, like it’s for a single month.

KaiserPro 3y ago
yes but 20 million dollars a year. 20 fucking million getting splunk with 1pb a month ingest isnt that expensive.
- rednerrus 3y ago
  They'll probably throw in SignalFX for free if you ask them nicely.
- quickthrower2 3y ago
  Please tell me I am allowed to say "you could just use grep and rsync". I must be allowed!
  - KaiserPro 3y ago
    but only if you have "as-a-service" attached to the end of it. or something with chatgpt
coinbasethrow 3y ago
Headline is slightly misleading Earnings call said it was an upfront cost

johnvanommen 3y ago

Back in the day I was auditing our support contracts for a place that I worked at. Basically figuring out if we were getting what we were paying for. My favorite "overpriced support contract" was for an Oracle product. The cost of support was seven figures, and in the entire year a single phone call had been placed to support.

re-thc 3y ago
Did that end up being a “support” call where they sold you more services?
Macha 3y ago
The best bit when I worked at one of those companies that had an expensive Oracle contract was this dynamic: 1. Can we use MySQL for <new product>? No, use Oracle, we have a support contract 2. <oracle related issue occurs> Can we call that support contract in now? No, let's try the inhouse expertise first. 3. <inhouse expertise comes up with barely passable hack> Can we check if they have any better solutions? No, it's "solved" now Like, what were we paying for? I have to assume there's per-engagement costs as well as the ongoing costs, given how hestitant our contract owning team were to let us anywhere near Oracle.

paulddraper 3y ago

> 3 years Okay, it seemed like it was 1 year. So, only insane, not insane^2.