On: Coinbase’s chief product officer will leave with a...

[qeternity]

Coinbase is down 88% from all time highs, and slightly less from its IPO. Coinbase has an $11.6b market cap which means he extracted a little under 1% of the entire company’s value in two years.

[onlyrealcuzzo → qeternity]

> Coinbase is down 88% from all time highs, and slightly less from its IPO.

This has nothing to do with "product", though.

Memestocks are down ~80%. Crypto prices down ~70%. Volumes are down even more in many segments... >97% for NFTs.

Just because Coinbase was at one time valued almost 10x what it is now, doesn't mean that was the correct value - and "product" ruined it.

[newswasboring → onlyrealcuzzo]

Yeah, but isn't it the chief product officers job to figure out how to isolate their company from this?

[justinbaker84 → qeternity]

Yes but if you look at the balance sheet they have about 6 billion in net assets (assets minus liabilities) so the value of the company itself is really more like 5.6 billion. This is a little tricky because company valuation in many cases is a combination of the value of owned assets and the expected value of the actual operations of the company.

So he really extracted more like 2% of the value of the operations of company itself.