Top competitors in a scam. Just like NFTs. And boys like pg are into this (both Coinbase and some NFT company that I forgot its name). And you are defending them. And you don't see any problem. And that is the problem.
No values was created here. Just moving value around. Usually into the pockets of some already very rich people.
Sort of, it's all very abstracted but at the end of the day the investments generally represent value being produced. Goods being created, services being rendered. Crypto, for the most part, is proof that someone, somewhere had a computer that did a thing.
You confuse personal opinions about crypto with business success.
Coinbase is a massive success. It has a 100 million users and is the best known crypto exchange for retail. They did pick the winner.
This layoff creates a lot of emotional attention but doesn't mean that much in business terms. They were overhiring anyway and all of tech is massively down. It's a small undoing of growing too fast.
Coinbase operates under the protectionist policy of the US and still only has 1/10th of the volume that Binance has (with the same amount of employees). I never got what the fuss is about Coinbase compared to all exchanges, except for the "silicon valley bro" angle
When you posted anything negative and mentioned YC in the headline, the mods edited the headline. When Coinbase went dark during the first crypto winter (or was it the second?), asking for some/any help here was ridiculed by the YC powers that be (i.e pg)
I would really like one of those "insightful" posts from pg telling us how to pick winners right about now.