Hchanni (u/Hchanni) - Readit News

Hchanni commented on Ask HN: Will Coinbase Last (from an oncoming intern)? · Posted by u/Hchanni

Get your cash this summer. Even if you take a return offer, you should quit 2-3yrs in anyways and go elsewhere. Best advice I ever got in college is that a job's lifetime is about that long. Especially starting out.

Hchanni · 3 years ago

That was my plan, lol I want the company to last for like 2-4 years so I can get my fast promotions and leave haha

Posted by u/Hchanni 3 years ago

Ask HN: Will Coinbase Last (from an oncoming intern)?

Hchanni commented on Coinbase Burn Rate 1.5 Bil? Will This Company Last? · Posted by u/Hchanni

Zetaphor · 3 years ago

I take it this is your first market cycle?

Hchanni · 3 years ago

It is, I'm 20 :P

Hchanni commented on Coinbase Burn Rate 1.5 Bil? Will This Company Last? · Posted by u/Hchanni

drexlspivey · 3 years ago

Afaik they remained breakeven/profitable during the last crypto winter following the 2017 bubble with BTC in the 3k-5k range, I don't see why they can't do the same now

Hchanni · 3 years ago

They seem like in a "growth phase" and they went from like 1400 employees in 2021 to around 6k up until start of layoffs, and the amount of users + amount of transactions has dipped.

Hchanni commented on Coinbase Burn Rate 1.5 Bil? Will This Company Last? · Posted by u/Hchanni

swatcoder · 3 years ago

They're obligated to announce a strategy or attitude that sounds reassuring, but you can bet that most of the execs, board, and investors are at least as worried as you are.

Nobody honest leverages as much they have without believing the diaster scenarios are either a long shot or are far out. You don't win over today-money with presentations like "well, we'll probably hit a -80% crypto winter next year but can weather our way through 5 flat years if you give us oodles of capital now"

Hchanni · 3 years ago

Yeah honestly, I feel like it has been handled the best with the public perception, and the way the twitter fiasco has been handled. However, I really feel the CPO (Chief Product Officer) really needs to get through some more concrete expectations and roadmaps. With the amount he's being paid his general perception around the company doesn't seem to be too hot.

Hchanni commented on Coinbase Burn Rate 1.5 Bil? Will This Company Last? · Posted by u/Hchanni

wollsmoth · 3 years ago

Where did you hear 1.5B?

They lost .5B last quarter I think. Not sure if that's going up or down since they're shedding costs. I have no idea if retail trading is up or down this quarter but it sounds like their NFT marketplace isn't going great?

Idk man. I would come up with some serious questions to ask them before signing on.

Hchanni · 3 years ago

Yeah I actually read their shareholders letter, it seems that their Net loss is ~400mil. Which to be fair doesn't seem to be alarming since they were still in their hyper growth phase in Q1. I'd assume their revenue will go down from 1bil to like 650mil at the worst, and their general costs will probably go down too, to around 1bil maybe a bit less too but who knows.

Hchanni commented on Coinbase Burn Rate 1.5 Bil? Will This Company Last? · Posted by u/Hchanni

Hchanni · 3 years ago

I thought I'd add, I'm personally really into Crypto and want to see Coinbase last, and so this worries me a bit lol

Posted by u/Hchanni 3 years ago

Coinbase Burn Rate 1.5 Bil? Will This Company Last?

u/Hchanni

KarmaCake day54June 17, 2022View Original