>If your market evaporates, you can't really blame it on product. Come again?

jstx1 · on Jan 25, 2023

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

TomSwirly · on Jan 25, 2023

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.

jstx1 · on Jan 25, 2023

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.

BolexNOLA · on Jan 26, 2023

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

newswasboring · on Jan 25, 2023

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?

BolexNOLA · on Jan 25, 2023

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.

_Algernon_ · on Jan 25, 2023

Handling them is not the same as preventing them.

Retric · on Jan 25, 2023

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.

_Algernon_ · on Jan 25, 2023

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

BolexNOLA · on Jan 25, 2023

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