It means that nobody could have prevented the crypto market collapse from the position of a Coinbase Chief Product Officer.

I 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?

1. 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.

Coinbase 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.

The marketplace for a scam is still participating in the scam. A bank knowingly laundering money for a criminal organization is still an accomplice.

I 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.

Handling them is not the same as preventing them.

Handling 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.

There are plenty of situations where that is impossible, and the best you can do is minimizing harm.

Fair enough. Don't personally agree but seems I've kicked a hornet's nest here.