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Re:Coinbase is rescinding already-accepted job offers by toddmorey on Saturday June 04, 2022 @12:02PM (#31621949)
"While we did not make this decision lightly..." Yes but you aren't doing it humanely, either.

I've been through the dot com crash and several hard economic downturns. It really puts your company's humanity on full display. It's the real test.

Preserving cash flow is important. But you also have to do things carefully, openly, and with genuine care for the people who've believed in your vision.

People will respect the hard decisions but not sloppy or careless execution.

Re:Coinbase is rescinding already-accepted job offers by kodah on Saturday June 04, 2022 @01:10PM (#31622815)
The worst part is that Coinbase's interviews are difficult. If I'd spent months studying, rejecting other (good faith) offers, and then had this happen I'd not only be in a bad spot (without a job entering a recession) but I'd be furious at the inequality of input and output.

I've been interviewing for the past month and I made a rule that I won't be doing any algorithm interviews. I didn't have time to study; some friends questioned whether this was a good idea or not. I ended up submitting code samples when recruiters or managers would try to go through that kind of phone screening. Not only am I interviewing at better quality firms, but it's not nearly as stressful.

Anecdotally there is a high correlation between firms that tell me they're freezing hiring, etc and algorithm interviews.

Re:Coinbase is rescinding already-accepted job offers by scottLobster on Saturday June 04, 2022 @01:23PM (#31622943)
A decade and a half of easy money leads to a lot of bullshit. I imagine many of those firms are your typical SV startup or wannabe SV startup that only exists due to easy money and doesn't yet have to make actual profit to survive. So they can tell themselves leetcode performance matters and get high on their own supply.

In my experience the higher quality non-FAANG firms who aren't wildly popular places to work and also need to turn a profit to survive tend to be more appreciative of qualified applicants and waste less time getting them started

Re:Coinbase is rescinding already-accepted job offers by mattbuilds on Saturday June 04, 2022 @05:05PM (#31625058)
Does a good way of finding these place exist? I would guess word of mouth and your network are best. As someone not super plugged into the VC world, and who is mostly interest in good sold work and interesting problems, and not the hype around “being a startup” I would be interested in knowing.
Re:Coinbase is rescinding already-accepted job offers by nso95 on Saturday June 04, 2022 @09:52PM (#31627160)
Avoid SV or just apply at non-tech companies
Re:Coinbase is rescinding already-accepted job offers by pavlov on Saturday June 04, 2022 @01:20PM (#31622918)
> ”Anecdotally there is a high correlation between firms that tell me they're freezing hiring, etc and algorithm interviews.”

Both are signs of companies that treat employees as ammunition rather than assets.

Re:Coinbase is rescinding already-accepted job offers by bluedevil2k on Saturday June 04, 2022 @04:00PM (#31624476)
I went through the whole Coinbase interview process at the Staff level a few months back - I thought all their interviews were fair and represented what I would have been doing there as my job. There weren’t any LC questions and the algorithm questions were all based around doing crypto related things.
Re:Coinbase is rescinding already-accepted job offers by kodah on Saturday June 04, 2022 @07:09PM (#31626039)
Same, mine was Staff level as well. I had to build a filesystem. I finished it, but I was left wondering if I was actually going to be working on an OS there.
Re:Coinbase is rescinding already-accepted job offers by jlund-molfese on Saturday June 04, 2022 @01:20PM (#31622924)
How do you find the better-quality companies you apply to? Are you able to decline to answer algorithm questions when they're asked, and instead convince companies to accept code samples?

There is https://github.com/poteto/hiring-without-whiteboards , but there aren't many larger companies on the list

Re:Coinbase is rescinding already-accepted job offers by granshaw on Saturday June 04, 2022 @02:04PM (#31623381)
Yeah avoiding LC interviews typically means missing out on most of the high paying companies, for some it’s worth it
Re:Coinbase is rescinding already-accepted job offers by kodah on Saturday June 04, 2022 @07:25PM (#31626187)
For context, I will actually be making substantially more - at least one order of magnitude - wherever I land.
Re:Coinbase is rescinding already-accepted job offers by top_kekeroni_m8 on Monday June 06, 2022 @03:44AM (#31638119)
Probably just means you are currently underpaid
Re:Coinbase is rescinding already-accepted job offers by bingohbangoh on Saturday June 04, 2022 @02:13PM (#31623487)
This sentiment seems common on Hacker News but I'm not sure its wise.

Companies that have high standards are far more interesting places to work at and with more interesting colleagues. They all require whiteboards and leet code.

It's definitely true that not all companies that use these algorithm interviews are worth working for. But, at least in my experience, companies that don't require them at all are pretty awful places to work. It demonstrates that management doesn't care who they hire.

Re:Coinbase is rescinding already-accepted job offers by lrvick on Saturday June 04, 2022 @02:41PM (#31623759)
I have advised, consulted for, or worked full time at 20+ companies, interviewed at too many to think about counting, and conducted technical interviews at 10+.

Without exception the companies that weighted academic algorithm skills over practical architecture skill and implementation experience had some of the most confident and brazen mistakes in security or scalability and some of the poorest work-life balance.

Re:Coinbase is rescinding already-accepted job offers by xpe on Saturday June 04, 2022 @04:12PM (#31624576)
This is easy to say, but it is harder to convince others without showing us your data. Even a small table with anonymized company names and a few columns assessing their security foibles and work life balance would go a long way.

I understand most people will say "this is too much work". The problem is that it is all too easy for someone to say "in my experience, X is correlated with Y" ... but that isn't very believable if the observer didn't even write things down.

I don't like asking for everything to be quantified, but it does seem in this case you probably have the data in your head and just need a nudge to write it down.

Re:Coinbase is rescinding already-accepted job offers by FireBeyond on Saturday June 04, 2022 @04:17PM (#31624629)
And yet the person he was replying to had just as little data, full of "in my experience, X, Y".

But it was his comment you chose to "suggest he show the work".

Re:Coinbase is rescinding already-accepted job offers by xpe on Sunday June 05, 2022 @01:39AM (#31628343)
Fair point. Everyone, show us your data! :)

Also, I didn't say it didn't apply. I'm not a perfectly consistent machine you know.

Re:Coinbase is rescinding already-accepted job offers by FireBeyond on Sunday June 05, 2022 @05:39PM (#31635076)
Agreed! :)
Re:Coinbase is rescinding already-accepted job offers by krainboltgreene on Saturday June 04, 2022 @05:41PM (#31625371)
This has been my experience as well after 15 years and ~13 companies.
Re:Coinbase is rescinding already-accepted job offers by jbyers on Saturday June 04, 2022 @03:11PM (#31624050)
Without exception?
Re:Coinbase is rescinding already-accepted job offers by lrvick on Sunday June 05, 2022 @07:34AM (#31630003)
Not that I can recall, though I admit I am very biased against academic CS theory dominant interviews in general for a number of reasons and it is possible this somewhat tints my memory.
Re:Coinbase is rescinding already-accepted job offers by Apocryphon on Saturday June 04, 2022 @03:22PM (#31624157)
> Companies that have high standards are far more interesting places to work at and with more interesting colleagues. They all require whiteboards and leet code.

The industry is at a point where there are plenty of clueless cookie cutter companies cargo culting Leetcode just because those interesting companies engage in it.

As far as interesting companies that don't require that, there's at least Stripe, famously, and surely more from this list:

https://github.com/poteto/hiring-without-whiteboards

Re:Coinbase is rescinding already-accepted job offers by bingohbangoh on Sunday June 05, 2022 @12:53PM (#31632697)
Within that link under Stripe:

> Programming/debugging phone screen + on site with your own laptop/setup and full access to internet, systems design discussion and talk with hiring manager about team alignment.

That seems to me to be a technical interview. I'm not sure what makes this different from a Facebook or Google.

Re:Coinbase is rescinding already-accepted job offers by beej71 on Saturday June 04, 2022 @05:40PM (#31625364)
> Companies that have high standards are far more interesting places to work at and with more interesting colleagues.

I have quite high standards when I hire, which is why I don't use leetcode to assess. :)

I can get much better data more quickly without it. And, indeed, the best places I've ever worked with the smartest people I've ever known have not used these types of problems in the interview.

I've personally solved hundreds of them for the problem-solving challenge, but it's a horrible way to determine if someone is a good fit for a job. It's like interviewing a mechanic for your auto shop by seeing how well they can change a tire using only a screwdriver.

Re:Coinbase is rescinding already-accepted job offers by bingohbangoh on Sunday June 05, 2022 @12:52PM (#31632678)
> I have quite high standards when I hire, which is why I don't use leetcode to assess. :)

How would you go about checking if somebody is qualified in an interview?

Using his past experience may help but too often it can be embellished or flat out lied about. That's why these algorithm interviews became popular in the first place, to my knowledge.

Re:Coinbase is rescinding already-accepted job offers by beej71 on Monday June 06, 2022 @03:42PM (#31645102)
> How would you go about checking if somebody is qualified in an interview?

It depends on the job, but for coding I've had great luck asking them to bring some code they were proud of in to the interview. Language doesn't matter, subject doesn't matter.

And then in the interview I ask them to teach me how it works. It becomes apparent in no time if they don't know what they're doing (or stole it). And if they can tell me about it, I learn how well they understand their own system--do they only understand it well enough to code it, or do they understand it well enough to teach it? I also learn if they're a good communicator. And if they're a good culture fit. And if they're enthusiastic about coding. I can also ask probing questions about design decisions and shortcomings.

That covers the "how well do they code" part, but falls a little short on the problem-solving part. But I can come up with on-the-fly questions (often about the code they brought in) that exercise those muscles. "What would you do if this data weren't available?" "What if you needed more guaranteed uptime?" "What if you needed to process 1000x more data in the same timeframe?" These are more relevant questions.

I'm after someone who learns fast. I'll take someone who knows a little and learns fast over someone who knows a lot and learns slow 9/10 times.

(Once I had someone bring in a device driver written in C for a JavaScript gig. They were hired. Another time we hired a dev with zero experience in the platform, language, or framework. Worked out great.)

If they ace leetcode-style challenges, I know they're good at _that_, but I don't trust it as a proxy for the other things I want to know, above.

Re:Coinbase is rescinding already-accepted job offers by akhmatova on Saturday June 04, 2022 @03:37PM (#31624266)
Companies that have high standards

The parent commenter wasn't saying we shouldn't have "high standards"; just that filtering for maximal prowess at leet code grinding does not serve as a useful instance of such, in their book.

Further, this distinction seems basically quite obvious -- there's no other way to read their text, actually.

Re:Coinbase is rescinding already-accepted job offers by sarchertech on Saturday June 04, 2022 @02:29PM (#31623642)
Alternatives like take homes, pair programming etc… don’t demonstrate that a company doesn’t care who they hire. I mean sure it could, but it could also demonstrate they don’t cargo cult interview practices.

Other industries don’t hire this way for anyone but fresh grads, and most don’t even do this for them.

Re:Coinbase is rescinding already-accepted job offers by throwaway6734 on Saturday June 04, 2022 @04:36PM (#31624794)
High standards != Leetcode
Re:Coinbase is rescinding already-accepted job offers by jackblemming on Saturday June 04, 2022 @02:23PM (#31623580)
How many companies have you worked for?
Re:Coinbase is rescinding already-accepted job offers by humaniania on Saturday June 04, 2022 @01:22PM (#31622936)
The cryptocurrency pyramid scam bubble popping is not indicative of a recession.
Re:Coinbase is rescinding already-accepted job offers by davidgerard on Saturday June 04, 2022 @03:08PM (#31624023)
It's the other way round. When NASDAQ sneezes, crypto catches a cold. I think because there's some tech investors who put a few percent into crypto, and when the market heads south you sell your frivolous rubbish (the crypto) first. And it takes very little actual-dollar volume to tank crypto

Same thing happened in March 2020, when investors panicked over COVID-19 and flew to US treasuries. Stocks went down, crypto went through the floor.

Re:Coinbase is rescinding already-accepted job offers by cableshaft on Saturday June 04, 2022 @04:53PM (#31624946)
> Same thing happened in March 2020

I wish it were the same as March 2020. You had a big drop and then almost an immediate reversal that lead to an explosive bull run to many new all-time-highs until April 2021.

Instead this time it's had the big drop and been very anemic for months since, with no clear end in sight. Could easily drop more. Starting to look more and more like the two year crypto winter back in 2014. Course if I was buying a coin a month that entire time it was $200 a coin I would have been retired by now. Or at least semi-retired.

Re:Coinbase is rescinding already-accepted job offers by baq on Saturday June 04, 2022 @04:28PM (#31624717)
ponzi schemes only blow up when money dries up - and money drying up is a hallmark of economic slowdown. recession may be pushing it... for now.
Re:Coinbase is rescinding already-accepted job offers by solveit on Saturday June 04, 2022 @02:32PM (#31623674)
Of course it is. Money flows.
Re:Coinbase is rescinding already-accepted job offers by exdsq on Saturday June 04, 2022 @01:42PM (#31623154)
Are you suggesting we’re not entering a recession?
Re:Coinbase is rescinding already-accepted job offers by doktorhladnjak on Saturday June 04, 2022 @01:59PM (#31623336)
We are probably already in one. Q1 GDP already shrank.
Re:Coinbase is rescinding already-accepted job offers by arthurcolle on Saturday June 04, 2022 @04:00PM (#31624471)
Recessions are definitionally 2 quarters of consecutive shrinking GDP growth so 1 quarter of shrink can not qualify as a recession
Re:Coinbase is rescinding already-accepted job offers by ako on Saturday June 04, 2022 @04:23PM (#31624682)
If Q2 GDP also shrinks then Q1 will have been part of a recession.
Re:Coinbase is rescinding already-accepted job offers by fny on Saturday June 04, 2022 @04:24PM (#31624685)
Base effects are also an issue.
Re:Coinbase is rescinding already-accepted job offers by A4ET8a8uTh0 on Saturday June 04, 2022 @02:29PM (#31623644)
I can confirm Coinbase interviews are difficult. I went in relatively confident and still failed.

Looking back, it would appear I got lucky since we all know new blood is the first to be dropped come a downturn. Well, maybe potentially not lucky since I recently jumped ship anyway, but it is not crypto or startup so risk level is lower.

To your point, I agree. As an applicant, I would be really aggravated if I passed on an offer, because I received and accepted offer from another place ( and that another placed rescinded offer afterwards ). Can I assume there will be some lawsuits over this ( in that case there seems to be an incurred loss )?

Re:Coinbase is rescinding already-accepted job offers by asah on Saturday June 04, 2022 @04:35PM (#31624782)
Seriously ?

So let me get this straight: now, we're not allowed to ask people if they can perform an __essential function of the job__, without being labeled "inhumane" ?

You interview for sanitation work, I want to know that you can sling a heavy bag of hot garbage.

You interview for SWE, I want to know that you can throw a sling a heavy bag of hot garbage!!!

Re:Coinbase is rescinding already-accepted job offers by onion2k on Saturday June 04, 2022 @04:55PM (#31624974)
So let me get this straight: now, we're not allowed to ask people if they can perform an __essential function of the job__, without being labeled "inhumane"?

I think there's a simple solution to the problem of algorithm testing and Leetcode problems in hiring: every company should run their hiring technical test on their current staff, at random, on a regular basis. If the current staff can pass then the test is a valid one. If they can't then it isn't, and they should update it to be a more realistic task that the current staff can do.

Re:Coinbase is rescinding already-accepted job offers by aaronchall on Saturday June 04, 2022 @05:23PM (#31625232)
So a company isn't allowed to raise the bar?
Re:Coinbase is rescinding already-accepted job offers by kodah on Saturday June 04, 2022 @07:15PM (#31626086)
There's a healthy way to raise the bar and there's lots of unhealthy ones.

A healthy way would be bringing your current talent pool up to a higher level through training, even if that's maths (if that's what your current problem is).

An unhealthy way is introducing a bunch of new talent that is tested on one niche domain of software engineering and pretending everyone needs to do that while also trying to improve fundamental skills that help them with their day to day job.

Re:Coinbase is rescinding already-accepted job offers by asah on Sunday June 05, 2022 @02:58AM (#31628687)
In startups...

- you've got people working crazy hours and learned on the job. Are they supposed to spend extra time on this stuff when they're barely keeping up?

- the existing people have developed all sorts of niche skills of their own. I'm not trying the new folks on that stuff because... we don't need more of it right now.

Re:Coinbase is rescinding already-accepted job offers by onion2k on Sunday June 05, 2022 @05:23AM (#31629300)
The point is that most of the time you're not actually hiring for specific niche skills that the rest of the team don't have. You just need more capacity to do what the team is already doing. In those cases if your tech test is some Leetcode algorithms question that the team can't pass themselves then asking that of a new hire is silly. You'll be ruling out candidates who could do the job well, just because they can't pass a test you don't need them to pass.

All I suggested is using the team's existing skillset as the measure to hire new people for the team, rather than some sort of arbitrary test that doesn't reflect the work they do.

Re:Coinbase is rescinding already-accepted job offers by scarface74 on Sunday June 05, 2022 @09:18AM (#31630710)
Yes, and the typical startup

“we need someone who can help us write our yet another SaaS CRUD app using an MVC framework. But to get the job you have to reverse a binary tree while riding a unicycle on a tightrope juggling bowling balls. We also offer below average pay and make up the difference in statistically worthless ‘equity’ and only want 10x developers who are willing to work for 60 hours a week”

Re:Coinbase is rescinding already-accepted job offers by onion2k on Sunday June 05, 2022 @02:56AM (#31628681)
Using a test that you don't have the knowledge to assess is unlikely to raise the bar. It's much more likely to just mean you hire the wrong person.

If you really need to hire someone you can't assess internally then you should seek help with hiring them. This is one reason why networking and mentors are so helpful. Other people can help with this sort of problem.

Re:Coinbase is rescinding already-accepted job offers by a_chris on Saturday June 04, 2022 @04:54PM (#31624965)
Yeah, because we spend the whole day reversing a linked list in your real-life SWE job, right? It's ridiculous that we have to study all those algorithms that we will never use it in your life, it's just too much.
Re:Coinbase is rescinding already-accepted job offers by throwawaymaths on Saturday June 04, 2022 @05:22PM (#31625221)
I had an interview once that wanted me to do A-star "find fastest routing of internet packets between sites" and when I presented a brute force path finder and he complained about the big O, I told him that his problem as framed only featured tens of graphs and his business domain as framed (as a function of the company's domain) would never have more than 20 sites, and anyways a sneakernet (ship ssds) would be faster (which he conceded).

I didn't get the job.

Re:Coinbase is rescinding already-accepted job offers by scarface74 on Sunday June 05, 2022 @09:22AM (#31630750)
Them: “Write a method to parse an address”

Me: “This is a domain I’m familiar with because I spent 9 years working in the bill payment industry. Here all of the corner cases you have to deal with. You’re much better off using these USPS certified CASS solutions instead of writing it internally for these reasons and went on to explain all of the drawbacks of writing software that didn’t give you a competitive advantage.”

The middle level developer interviewing me wasn’t impressed. The director was and I got the job and soon became the lead.

Re:Coinbase is rescinding already-accepted job offers by jjav on Saturday June 04, 2022 @08:58PM (#31626833)
> now, we're not allowed to ask people if they can perform an __essential function of the job__, without being labeled "inhumane" ?

Please tell me of companies which ask about essential functions of the job? That's become infinitesmially rare.

Instead, interview are about memorizing algorithms and perfecting a theatrical delivery where you pretend to discover the fruits of years of research in 45 minutes.

In order words, things you will never ever do in the actual day to day job after getting hired.

Re:Coinbase is rescinding already-accepted job offers by scarface74 on Sunday June 05, 2022 @09:14AM (#31630688)
I’ve been working professionally as a developer for 25 years. What is now called leetcode was part of my day job on and off from 1996-2012 as I wrote low level cross platform C code, a little assembly, maintained a proprietary Windows CE compiler tool chain (long ugly story).

But DS&A style interviews don’t come anywhere near testing the type of work that most developers will be doing day to day in 2022.

Re:Coinbase is rescinding already-accepted job offers by mattbuilds on Saturday June 04, 2022 @04:53PM (#31624954)
You’re allowed to do whatever you want, and the person being interviewed can reject for any reason.

If someone has code samples, years of experience building things and can make it clear to companies that they can do the job, I don’t see the problem.

It’s a two way street about finding a good fit, I think a lot of employers don’t see it that way. Maybe they should.

Re:Coinbase is rescinding already-accepted job offers by turdnagel on Saturday June 04, 2022 @02:40PM (#31623754)
What position did you interview for at Coinbase? I made it to offer stage and did not have to do any algorithms.
Re:Coinbase is rescinding already-accepted job offers by distrill on Saturday June 04, 2022 @03:17PM (#31624112)
what position did you interview for? they are very definitely an algorithm interview company for technical roles.
Re:Coinbase is rescinding already-accepted job offers by 1270018080 on Saturday June 04, 2022 @01:43PM (#31623159)
Are there ANY companies that pay well and don't do algorithm interviews?
Re:Coinbase is rescinding already-accepted job offers by xref on Saturday June 04, 2022 @02:56PM (#31623915)
Thousands upon thousands. There are a lot more companies in the world than FAANGs and SV unicorns.
Re:Coinbase is rescinding already-accepted job offers by 1270018080 on Saturday June 04, 2022 @07:35PM (#31626274)
I am guessing but I bet there are less than 5 worldwide. "Pay well" to me means $200k+ for mid level.
Re:Coinbase is rescinding already-accepted job offers by scarface74 on Saturday June 04, 2022 @03:24PM (#31624162)
What is your definition of “pays well”?
Re:Coinbase is rescinding already-accepted job offers by krainboltgreene on Saturday June 04, 2022 @05:43PM (#31625391)
Why don't you ask the parent of the parent?
Re:Coinbase is rescinding already-accepted job offers by scarface74 on Saturday June 04, 2022 @08:08PM (#31626528)
He said at least $200K. Which companies pay software developers over $200K and don’t require DS&A interviews? I doubt there are “thousands”
Re:Coinbase is rescinding already-accepted job offers by kodah on Saturday June 04, 2022 @09:13PM (#31626915)
I live in the Bay Area, I'm looking above $200 base. There's at least ten, because that's what I started my search with. I'm down to three.
Re:Coinbase is rescinding already-accepted job offers by scarface74 on Sunday June 05, 2022 @09:25AM (#31630773)
$200K and living in the Bay Area would not come near peaking my interest. I would have been better off staying at my enterprise CRUD job in a medium cost of living area with my big house in the burbs making in the mid $100s.

I’m making in the $200s now. But I found a job at $BigTech that was permanently remote.

Re:Coinbase is rescinding already-accepted job offers by TulliusCicero on Saturday June 04, 2022 @03:39PM (#31624286)
Depends on your definition of "pays well", really. I think it's unlikely you're gonna find many companies paying Amazon or Google-tier salaries without these kinds of interviews, especially for junior or mid level.
Re:Coinbase is rescinding already-accepted job offers by kodah on Saturday June 04, 2022 @07:18PM (#31626113)
Two of the companies were featured on HN, I think I'd probably out my account if I said their names.
Re:Coinbase is rescinding already-accepted job offers by neilv on Saturday June 04, 2022 @04:31PM (#31624746)
> I'd be furious at the inequality

They needn't get furious. They need to get a lawyer.

Re:Coinbase is rescinding already-accepted job offers by jes on Saturday June 04, 2022 @01:50PM (#31623229)
> I'd be furious at the inequality of input and output

Stranger here. Just want to suggest that getting furious over things outside of your control, or the world not being as you would like it to be, is optional.

If you don't like being enraged, you can quit that pattern with some practice in learning to notice your emotions as they come and go, and then learning to interrupt the chain of events that leads to the state of being furious and brooding.

Re:Coinbase is rescinding already-accepted job offers by bathtub365 on Saturday June 04, 2022 @02:10PM (#31623450)
It’s ok to be mad at a company if they fuck you over by rescinding a signed offer.
Re:Coinbase is rescinding already-accepted job offers by jes on Saturday June 04, 2022 @02:34PM (#31623701)
Of course. If someone wants to be angry, that's their choice.

Yet a lot of people get angry easily, and being an easily-triggered person works against a person's life. No one wants to constantly have to walk on eggshells around another person in order to be their friend, partner, child, etc.

Personally, I don't enjoy the emotion of being angry. If you do, more power to you.

Re:Coinbase is rescinding already-accepted job offers by ss2003 on Saturday June 04, 2022 @03:21PM (#31624144)
It's nice to be able to afford to not get angry. That's not an option for everyone.
Re:Coinbase is rescinding already-accepted job offers by jes on Saturday June 04, 2022 @03:35PM (#31624252)
With respect, it's not a matter of money or resources.

Getting angry is optional. With some practice (largely, mindfulness) people can learn to notice their emotions and not become strongly identified with whatever is happening in the moment, and choose to do something more productive than simply stewing or ruminating in the unfairness of life.

Thanks for engaging.

Re:Coinbase is rescinding already-accepted job offers by tonguez on Saturday June 04, 2022 @02:43PM (#31623788)
“Personally, I don't enjoy the emotion of being angry.”

no one cares

Re:Coinbase is rescinding already-accepted job offers by kodah on Saturday June 04, 2022 @07:23PM (#31626160)
I practice stoicism in my day to day life, or try to stick to it best I can. That said, stoicism only helps me with actions I choose to take, it doesn't override the fact that internally I would be furious. I'd end up channeling that furor into something healthy. I also think it's healthy to convey to other people how you feel, especially if you are someone practicing moderation with reactions.
Re:Coinbase is rescinding already-accepted job offers by baby on Saturday June 04, 2022 @12:26PM (#31622275)
How do you do it humanly? If it were me I’d rather get an email
Re:Coinbase is rescinding already-accepted job offers by lordnacho on Saturday June 04, 2022 @12:49PM (#31622566)
When I was an underboss in a firm that was going down, I just told people. Informally, in person. I wasn't supposed to, but they were putting two and two together themselves, and it would have been wrong to leave them with an inaccurate idea of how the firm was doing.

Don't hire me if you need me to lie to your staff.

Re:Coinbase is rescinding already-accepted job offers by hallway_monitor on Saturday June 04, 2022 @12:54PM (#31622625)
This is literally my only request from management. If you know I'm going to lose my job don't wait until my last day to tell me. Give me some time to set up other options.
Re:Coinbase is rescinding already-accepted job offers by scarface74 on Saturday June 04, 2022 @01:03PM (#31622731)
You should always have other options. You shouldn’t wait until you’re about to be laid off. I can honestly say there isn’t a single day since 2008 (I’ve been working a lot longer) that if the company I was working for laid me off that I wouldn’t be prepared to look for another job the same day.

That means an updated resume, career document of accomplishments and talking points, an active network and “fuck you money” in the bank. If you live in any major city in the US, and are a software developer with experience, you should be making in the upper quintile of income for your area. There is usually no excuse not to have savings.

Re:Coinbase is rescinding already-accepted job offers by ipaddr on Saturday June 04, 2022 @03:15PM (#31624085)
A developer in SF is not in the upper quintile.. they can't even afford a starter house. Big cities add huge costs that start making sense with home ownership but will leave a renter worse off.

Good advice on the other points.

Re:Coinbase is rescinding already-accepted job offers by scarface74 on Saturday June 04, 2022 @03:27PM (#31624199)
The median household income in SF is $92K.

https://sf.curbed.com/2019/2/25/18239828/report-middle-class...

The average software developer in SF makes more then twice that.

https://www.builtinsf.com/salaries/dev-engineer/software-eng...

Re:Coinbase is rescinding already-accepted job offers by staticman2 on Saturday June 04, 2022 @07:26PM (#31626202)
It's $119,136 not 92k:

https://www.census.gov/quickfacts/fact/table/sanfranciscocit...

And that's of 2020 so out of date.

Re:Coinbase is rescinding already-accepted job offers by scarface74 on Saturday June 04, 2022 @07:56PM (#31626430)
Yes because I’m sure two year old data is grossly out of date and the median income has gone up greatly enough so that a software engineer in SF is no longer in the top quintile.
Re:Coinbase is rescinding already-accepted job offers by Hydraulix989 on Saturday June 04, 2022 @04:11PM (#31624571)
That just doesn't make any sense. You can't even rent an apartment for less than $3,000 in SF, let along think about buying the average $2M house. What is the discrepancy? Maybe these folks all ended up buying their houses 30 years ago?
Re:Coinbase is rescinding already-accepted job offers by scarface74 on Saturday June 04, 2022 @04:28PM (#31624718)
Yet somehow half the people seem to be surviving in SF making that and less.
Re:Coinbase is rescinding already-accepted job offers by HFguy on Sunday June 05, 2022 @02:06PM (#31633398)
The number doesn't jive for me either. You would have to go through how the median income number is formulated. It may not be how you think. I can't tell you the number of times I've seen this with broad statistics.
Re:Coinbase is rescinding already-accepted job offers by scarface74 on Monday June 06, 2022 @02:53PM (#31644258)
Just maybe in your bubble you think everyone is making a lot in SF?

These are the numbers from the census bureau. It still says $119K

https://www.census.gov/quickfacts/sanfranciscocitycalifornia

Median isn’t some obscure statistic that’s hard to calculate.

Re:Coinbase is rescinding already-accepted job offers by bigmattystyles on Saturday June 04, 2022 @01:17PM (#31622891)
It’s so tough though - with large layoffs, you want to avoid revenge actions from people who are being let go. Immediate termination / cutoff of access is really the only way to do it. But I agree, it’s not humane. Don’t ever buy companies that talk about being a family. They want you to treat them like family but they will turn around and do what they deem necessary to self-preserve.
Re:Coinbase is rescinding already-accepted job offers by cortesoft on Saturday June 04, 2022 @01:38PM (#31623098)
If you think your employees will take revenge action after being let go, you need to do a lot better job at hiring people.

I can't imagine many professionals would do something damaging to their employer on the way out. Facing legal troubles right when you are looking for a new job seems very shortsighted.

Also, if you treat the people you are letting go as humans, they will be less likely to retaliate. Ironically, trying to prevent retaliation by treating them like they will retaliate is more likely to cause them to do so.

Re:Coinbase is rescinding already-accepted job offers by ryan93 on Saturday June 04, 2022 @04:04PM (#31624510)
Delusional. 99% of professionals can come across as nice and respectful in interviews, and have no criminal record. How could you possibly anticipate "a willingness to take revenge".
Re:Coinbase is rescinding already-accepted job offers by cortesoft on Saturday June 04, 2022 @09:37PM (#31627060)
I’m assuming people you are laying off have worked with you long enough to get an idea of their character. If you are firing someone for cause, that is one thing; you are firing them because they aren’t what they originally seemed, so it makes sense to take precautions.

However, if you are laying someone off simply because the business if struggling, you presumably think they are trustworthy enough to employ. If you trusted them enough to give them the power before letting them go, you obviously trust them. If you are worried getting laid off will make them abuse that trust and use their access to cause damage, how could you trust them before you laid them off?

Re:Coinbase is rescinding already-accepted job offers by hyperman1 on Saturday June 04, 2022 @01:50PM (#31623239)
In Europe, we have layoff terms measured in months. Revenge action is nevertheless very rare.

If your personel has an exit period of a few months, they can take their time to process what happened, grieve, and find a new job, without losing the house or healthcare. There simply isn't that much of a reason for revenge.

Re:Coinbase is rescinding already-accepted job offers by SilasX on Saturday June 04, 2022 @03:22PM (#31624158)
Stupid question: I thought in Europe they’d get healthcare regardless of employment status?
Re:Coinbase is rescinding already-accepted job offers by hyperman1 on Saturday June 04, 2022 @05:17PM (#31625168)
True and false. There is a basic package that's good enough to get you trough life. This is one extra reason why being let go is less likely to cause stress for you and damage for your boss.

But bigger organisations give extra insurance. This covers e.g. avprivate or 2 person hospital room instead of multi person rooms. Or private care without waitung lists

Also, as healthcare is getting more expensive, the core package gets smaller. E.g. dental care was a victim in my country, preventative care is still covered but restorative probably not.

Re:Coinbase is rescinding already-accepted job offers by deckeraa on Saturday June 04, 2022 @01:31PM (#31623021)
The best way for a company to handle layoffs in the case where immediate termination is needed for security reasons is for the company to pay 2-6 additional weeks of salary beyond the termination date -- that way the employee has time to find new work without having a sudden, unexpected gap in income.
Re:Coinbase is rescinding already-accepted job offers by saiya-jin on Saturday June 04, 2022 @01:35PM (#31623072)
This is how ie banking works. Nobody smart/experienced enough even pretends its about more than next paycheck.

Sounds soulless, and for some it is, but there is no place for drama when the day comes.

Being good hearted will eventually backfire - that one employee who feels its very unfair to him, with right access can do so much damage to already faltering company it can even bring it down.

So its a precaution, because 1 (or 5) percent of people are vengeful assholes, and you often find out only when right buttons are pressed.

Severance package is always generous, ie my bank gives in such case 1 salary for every year worked, on top of mandatory 3 ones mandated by Swiss laws.

Re:Coinbase is rescinding already-accepted job offers by lupire on Saturday June 04, 2022 @03:58PM (#31624457)
That's what a severance package is. Good companies pay severance and don't make you come into work.
Re:Coinbase is rescinding already-accepted job offers by doktorhladnjak on Saturday June 04, 2022 @02:06PM (#31623401)
This can create its own chaos. Having been through layoffs where the news got out early and others where management mostly kept a lid on it, the outcome wasn’t better when some people knew early.

Those who were connected to the right bosses knew more than others. There were a couple leaders who already had new jobs lined up when the news became public while others were stuck scrambling. There was a lot of anger and resentment compared to other layoffs I’d been through.

On the other hand, there were layoffs more of the form of directors making “objective” decisions without the bottom two layers of management knowing much of anything beyond that layoffs were probably going to happen. There was more shock. People had a bad time still but there wasn’t the same toxicity to it.

Re:Coinbase is rescinding already-accepted job offers by IncRnd on Saturday June 04, 2022 @01:29PM (#31622996)
> When I was an underboss in a firm that was going down, I just told people.

Other than in the mafia, what is an underboss? [1]

[1] https://en.wikipedia.org/wiki/Underboss

Re:Coinbase is rescinding already-accepted job offers by Hydraulix989 on Saturday June 04, 2022 @04:13PM (#31624587)
It's not difficult to infer what OP metaphorically meant from the tree diagram in your linked article.
Re:Coinbase is rescinding already-accepted job offers by IncRnd on Monday June 06, 2022 @05:25PM (#31646498)
Why should one need to read an unrelated page posted by a 3rd party in order to infer what someone meant?

It is not-improbable that the GP intended a mafia reference for how the layoffs were handled. Your choosing to infer instead of learning produces incorrect results. i.e. It's best not to assume.

Re:Coinbase is rescinding already-accepted job offers by the_only_law on Saturday June 04, 2022 @01:02PM (#31622724)
I’ve been surprised at the times companies have wanted me to lie about something, not the lies themselves, but more just how blatant are.

Whatever I don’t usually expect business to be honorable or empathic, but don’t be surprised if I start lying to you too.

Re:Coinbase is rescinding already-accepted job offers by teaearlgraycold on Saturday June 04, 2022 @12:39PM (#31622455)
Take the hit. I worked for a series B startup employing around 100 people at the start of the pandemic. Because of the pandemic the business was entirely shut down for 6 months. And was barely operational for longer still. Not a single person was let go.

Now, this requires you to run your business responsibly from the start. If you’re already on the edge of your runway you either cut back or die. But if you have the cash in the bank you’re a better person for spending it on the employees than doubling down on your war chest.

Re:Coinbase is rescinding already-accepted job offers by nxmnxm99 on Saturday June 04, 2022 @12:56PM (#31622652)
What? If you're cutting, you're not doing it for excess fuck-you cash, it's clearly a runway planning scenario. Giving the example of a company that basically shut down while paying their employees to do nothing isn't helping make your point.
Re:Coinbase is rescinding already-accepted job offers by ipaddr on Saturday June 04, 2022 @03:24PM (#31624164)
Your missing his point. He used this as an opportunity to increase loyalty, keep a trained functioning team together at decent wages which were able to outperform other companies who laided off, rehired months later at greater costs, no loyalty and starting from ground zero.
Re:Coinbase is rescinding already-accepted job offers by Sparyjerry on Saturday June 04, 2022 @02:08PM (#31623421)
The pandemic had "paycheck protection program" or PPP and a second round of this called PPP2 also. This program payed out billions to employers to keep employees, rather than let them go on unemployment, which would have been less productive to the country and maybe even cost the government more in those $600 per week in unemployment, per person. I seriously doubt any startup could otherwise have kept their employees thanks to their 'war chest.' Normally startups don't have a war chest at all.
Re:Coinbase is rescinding already-accepted job offers by teaearlgraycold on Saturday June 04, 2022 @05:06PM (#31625076)
This startup had a 2 year runway after factoring in their office lease. Dropping the lease (since no one was coming in anyway) would have extended that. But you're right about PPP. They got PPP money a few months after the pandemic started.
Re:Coinbase is rescinding already-accepted job offers by DonHopkins on Saturday June 04, 2022 @01:00PM (#31622698)
How about an email from the executives who made the mistake of driving the company into the ground, who are humanely (or even humanly) resigning, so that you could be paid your salary that they'd promised you?

All the stock that the executives dumped could easily pay the salaries of all the people they screwed. And by resigning, they would open up some nice corner offices for all the people who they hired while fully knowing they were going to need to fire a lot of people soon.

https://cointelegraph.com/news/coinbase-insiders-dump-nearly...

>Coinbase insiders dump nearly $5 billion in COIN stock shortly after listing

>After an edict to remain "mission focused," Coinbase executives have succeeded in making themselves a fortune.

>Insider activity reports for Coinbase’s COIN stock indicate that multiple early investors and executives sold billions in equity shortly after COIN’s direct listing. While the filings initially indicated that multiple executives sold a high percentage of their stake in the company, a representative for Coinbase told Cointelegraph that the sellers maintain strong ownership positions.

>Data from Capital Market Laboratories and confirmed by filings on Coinbase’s Investor Relations website shows a total of 12,965,079 shares were sold by insiders, worth over $4.6 billion at COIN’s $344.38 per share Friday close.

>Notable transactions include Coinbase CFO Alesia Haas selling some 255,500 shares at a price of $388.73 (though her Form 4 states that she retains options), while CEO Brian Armstrong sold 749,999 shares in three transactions at various prices, netting a total of $291,827,966.

>According to his Form 4 disclosure, after the sale Armstrong retains 300,001 shares worth over $1 billion. In a filing prior to the direct listing however, he was reported to have 36,851,833 shares, indicating that he sold just over 2% of his stake in the company.

Re:Coinbase is rescinding already-accepted job offers by HFguy on Sunday June 05, 2022 @02:10PM (#31633435)
I'm always surprised by how high SBC is for executives these days at some of these firms. When I was starting out after college, was at successful start-up. Two differences (1) The CEO and Founders made money but nothing like today, maybe $50-75M and they just held the stock for years and (2) The secretaries from the early days actually made $2-3M when the firm went public. Not sure that happens today.
Re:Coinbase is rescinding already-accepted job offers by weird-eye-issue on Saturday June 04, 2022 @12:27PM (#31622292)
Yeah this is 2022. Just email me. Saves us both awkward conversations that isn't going to change anything.
Re:Coinbase is rescinding already-accepted job offers by fleetwoodsnack on Saturday June 04, 2022 @01:13PM (#31622840)
Exit interviews are an opportunity for the formerly employed to air and address their grievances too. I think it precludes a (generally) necessary transfer of information when an email is sent en lieu of a substantive discussion.

As someone who’s been on both sides of the proverbial desk, I’ve come away frustrated but enlightened in some way almost every time.

Re:Coinbase is rescinding already-accepted job offers by scarface74 on Saturday June 04, 2022 @03:29PM (#31624208)
We all know the rules about exit interviews. They are the same as resignation letters. It’s best to say something banal and move on.
Re:Coinbase is rescinding already-accepted job offers by baq on Saturday June 04, 2022 @04:36PM (#31624790)
there's literally zero upside for the employee to say the truth - or anything at all - in an exit interview and basically unlimited downside. maybe you got lucky?
Re:Coinbase is rescinding already-accepted job offers by weird-eye-issue on Sunday June 05, 2022 @11:21PM (#31637000)
An exit interview for a rescinded job offer?
Re:Coinbase is rescinding already-accepted job offers by gazby on Saturday June 04, 2022 @12:42PM (#31622474)
It's not just about the method of communication, it's also about being made whole. These people should be getting severance. Also in America your healthcare is almost inextricably tied to your employer.
Re:Coinbase is rescinding already-accepted job offers by calvano915 on Saturday June 04, 2022 @12:46PM (#31622526)
Perhaps this is a moment where those that would get a severance at all with a job loss acknowledge that workers rights matter, for everyone. You think that a majority of the restaurant workers during the lockdowns got severances? Perhaps it's time we separate healthcare from our workplace. If it wasn't crypto, maybe I'd be more sympathetic. Bad bets made all around in this case.
Re:Coinbase is rescinding already-accepted job offers by dwwoelfel on Saturday June 04, 2022 @12:50PM (#31622574)
According to the article, they likely are getting severance.

Those affected will gain access to the company’s “generous severance philosophy” and “a talent hub to allow them to opt-in to receive additional support services.” (The details surrounding the severance package are unclear, but some affected workers on Blind alleged they would receive two months worth of base pay; a representative from Coinbase did not provide further comment.)

Re:Coinbase is rescinding already-accepted job offers by lupire on Saturday June 04, 2022 @04:02PM (#31624485)
I don't want a severance philosophy, I want a package.
Re:Coinbase is rescinding already-accepted job offers by dwwoelfel on Saturday June 04, 2022 @04:37PM (#31624809)
They are getting a severance package.
Re:Coinbase is rescinding already-accepted job offers by lupire on Saturday June 04, 2022 @03:58PM (#31624453)
Nobody joins a blockchain company for the humanity. The whole point of the blockchain economy is to the remove the human element.
Re:Coinbase is rescinding already-accepted job offers by duxup on Saturday June 04, 2022 @01:01PM (#31622713)
It sounds like they are offering severance and etc.

That’s more than most jobs.

Re:Coinbase is rescinding already-accepted job offers by pclmulqdq on Saturday June 04, 2022 @02:06PM (#31623400)
This is honestly a minimum to avoid getting sued. Otherwise an enterprising lawyer might be ready with some arguments about promissory estoppel.
Re:Coinbase is rescinding already-accepted job offers by duxup on Saturday June 04, 2022 @03:07PM (#31624012)
What is the severance offered?

I don’t know how you can determine what the minimum is without knowing the severance and etc.

Re:Coinbase is rescinding already-accepted job offers by ls612 on Saturday June 04, 2022 @03:30PM (#31624223)
I’ve read two months pay in a CNBC article, which for most of these folks is tens of thousands of dollars. They won’t be starving by any means while they search for a new job.
Re:Coinbase is rescinding already-accepted job offers by duxup on Saturday June 04, 2022 @08:19PM (#31626598)
Yeah that’s not bad.
Re:Coinbase is rescinding already-accepted job offers by bdcravens on Saturday June 04, 2022 @01:04PM (#31622753)
> not sloppy or careless execution

Isn't hiring excessively sloppy? In tech when times are good, everyone's desperately throwing warm bodies in chairs. I'm sure many have thought to themselves, "I'm glad I'm getting paid, but is my job really that necessary? Do we need a six-person Button Component Team?"

Re:Coinbase is rescinding already-accepted job offers by tempsy on Saturday June 04, 2022 @12:51PM (#31622584)
can’t find the tweet right now but saw one where a candidate showed an email where a recruiter or hiring manager literally promised a few weeks earlier to not rescind their offer before rescinding it
Re:Coinbase is rescinding already-accepted job offers by mlindner on Saturday June 04, 2022 @04:05PM (#31624521)
> Preserving cash flow is important. But you also have to do things carefully, openly, and with genuine care for the people who've believed in your vision.

So firing people who have actively worked on the vision is better than firing people who haven't started working yet? You seem to be taking things backwards.

This option is quite a lot better than the alternative.

Re:Coinbase is rescinding already-accepted job offers by darawk on Saturday June 04, 2022 @12:38PM (#31622440)
What would you have preferred they do here?
Re:Coinbase is rescinding already-accepted job offers by mavelikara on Saturday June 04, 2022 @06:54PM (#31625919)
> It really puts your company's humanity on full display. It's the real test.

Which are the companies from the dot com crash you remember doing this very well, and very wrong?

Re:Coinbase is rescinding already-accepted job offers by MangoCoffee on Saturday June 04, 2022 @01:00PM (#31622696)
>you aren't doing it humanely

not sure how you can do it humanely. what does "humanely" got to do with business decision?

Re:Coinbase is rescinding already-accepted job offers by BrainInAJar on Saturday June 04, 2022 @12:55PM (#31622637)
The people who are going to be screwed the most are immigrants who now have to find another visa sponsor & fast
Re:Coinbase is rescinding already-accepted job offers by jstummbillig on Saturday June 04, 2022 @01:25PM (#31622959)
Ominous, grandiose, hard to object to, impossible to act upon.
Re:Coinbase is rescinding already-accepted job offers by ecocentrik on Saturday June 04, 2022 @08:51PM (#31626800)
Humanistic business practices from fintech?
Re:Coinbase is rescinding already-accepted job offers by aaronbrethorst on Saturday June 04, 2022 @02:33PM (#31623696)
This feels very much in keeping with a between-the-lines reading of the CEO's "mission-focused company" memo in 2020.

https://blog.coinbase.com/coinbase-is-a-mission-focused-comp...

Re:Coinbase is rescinding already-accepted job offers by lupire on Saturday June 04, 2022 @04:03PM (#31624505)
"mission-focused" is anti-political-activism position, not a financial health position.