That statement does not inspire confidence considering how ripe crypto is for hackers/scammers, if anything it makes me want to close my Coinbase account.
Very early in the first Bitcoin boom cycle I had a friend who was into it, so I opened a Coinbase account because I thought it'd be funny to pay him the $15 I owed him for lunch or whatever in Bitcoin. I bought the $15 on a credit card, sent it to his wallet, we had our laughs about it, and I moved on. Years later, after it became clear that the only purpose of cryptocurrencies is scams & crime, I went to close my Coinbase account just for some basic digital hygiene. Except I found out that now, they only let you log in if you have an external bank account associated with your Coinbase account. And you can't delete your account without logging in. And there's no way in hell I'm associating my real bank account with a scam & crime agency. So I'm stuck with a Coinbase account I can't close or even log in to. Lol.
There's a law for that. If Coinbase did not require an external bank account to create the coinbase account, by law, they cannot require one to close the account.
At least, that is what I have been led to believe. You could sue.
I have to admit I'm always baffled by these "you could sue over this trivial matter" replies. Do you think lawsuits cost no time or money? Obviously I'm not going to do that.
> So, a manager who's managing 15 people AND expected to ship
Right?? I saw that too. My first thought is that any good managers left will be racing for the exit. You can't fake "managing 15 people" with AI. You have to actually have the 1:1s and do the performance calibrations. How are they going to have time left for IC work??
I assume they will have absurd metrics, like number of commits and token use to,determine how good of an IC you are. So, you start a bunch of agents in the background, merge their PRs without review, while having 1:1 and other meetings with your team. Productivity they call it
"IC work" seems to have evolved at Coinbase to mean "supervise AI changes". Then the question becomes how will managers actually review these changes and not just press accept at 3:50.
The reality is that Coinbase earns on trading volume, and since we are in a crypto bear market, revenue is down. So they have to cut to keep the company profitable (or in line with what the investors expect).
While AI is likely a productivity boost, the underlying reason is not AI.
Yes, I'm not buying this story about layoffs due to AI. It's a convenient excuse, which these companies seem to be getting away with too.
And something else I don't get about these AI related layoff announcements: if AI was a productivity boost wouldn't you hire more engineers and technical staff to capture the value? Or else you're basically saying "we're a tech company that has no idea what to do with more super-engineers".
This is (unironically) what big institutional allocators love to hear. They've been sold the idea that almost every medium-very big tech corp is vastly overstaffed and can become a monster cash cow and stop SBC dilution by cutting headcount + becoming A.I first.
They hear this from the sellside, from activists, from the guys managing their private market allocations etc.
> We’ll also be experimenting with reduced pod sizes, including “one person teams” with engineers, designers, and product managers all in one role.
Experimenting or cost-cutting? Are these one-person "teams" you g to be paid more for having multi-domain roles regardless of how fast AI can churn out pseudo-MVPs?
We're going to see this become a trend beyond Coinbase, IMO. The idea that companies just want employees to be more productive is a farce. The C-suite would prefer to make no profit, have few to no employees, and get personally richer in the process.
Many upper level managers seem to be blind to the fact that the kind of person who can actually excel as a "do it all" is most likely not the kind of person that wants to work in that kind of environment. Those people will do a year or two pulling down a salary while they are also spinning up a side project, and then they'll bolt as soon as they can. It sounds like a recipe for constant employee churn, leaving behind a wake of fragile code.
Well, yeah. As an employee in general one isn't that bothered about profit. As long as one's own job is safe and the jobs of the people one's close to.
> - No pure managers: Every leader at Coinbase must also be a strong and active individual contributor. Managers should be like player-coaches, getting their hands dirty alongside their teams.
Geeks who didn't even stand near professional sports should really shut up about anything sport related, lol.
I would really like to see professional, established coach running around with young prodigies on a peak of their biology.
> - AI-native pods: We’ll be concentrating around AI-native talent who can manage fleets of agents to drive outsized impact. We’ll also be experimenting with reduced pod sizes, including “one person teams” with engineers, designers, and product managers all in one role.
And AI clowns will cheer and applaud this, not seeing that they're now doing the job of 5(!) people with the same salary. Why is nobody talking about this?
Also, I find it really bizarre that those neo feudal lords see their companies as just a life stock to count. They don't even count people, just see them as numbers to reduce/scale up. Modern tsardom, but instead of being tied via official decree you're now tied by your lifestyle and family.
"Some of you may die, but that is a sacrifice I am willing to make"
Publicly traded companies get their stock price punished if they just announce layoffs, whereas if they say it is because of AI, they do not see the same treatment.
If you look at Coinbase in 2020 they had roughly 1,200 employees.
By 2022 they had roughly 4,500 employees.
They over hired and now they are pairing back, this is all it is.
I'll probably get some flack for this, but this is about as good of a layoff email as he could have sent.
* explains the reasons (financials, AI enablement)
* talks about what folks who are leaving get in detail (first) and thanks them
* talks to the folks who are staying
Layoffs are hard, no doubt, and I am not sure he's making the right choice. I see plenty of doubt about some of the actions in other comments that echoes mine. I certainly wouldn't want to have 15 direct reports and also ship production code regularly. But as CEO, it's his job to make these kinds of choices.
The proof is in the pudding as they say. We'll see how Coinbase does with this new orientation in the next year or so and that will determine if this was a wise or foolish move. Is there a flood of talent leaving? Major breaches? Business as usual with better than expected profits?
> this is about as good of a layoff email as he could have sent.
Except for that tone-deaf part at the end, where right after he talks to the people who "will be leaving" (that is, the people getting kicked out), he says that Coinbase will be stronger and healthier for this. Which makes it hard not to draw the conclusion that the people "leaving" are part of the unhealth.
The CEO probably does not even think that, and just wants to reduce costs. But from what was written, the implications are decidecly suboptimal.
"US employees will receive a minimum of 16 weeks base pay (plus 2 weeks per year worked), their next equity vest, and 6 months of COBRA."
4 months basic severance pay + 1 month for 2 years emploument is nice? so total 5 months severance after 2 years of working for them or only 6 months after 4 years
let me guess you are from US if you think this is nice, as European I would say this is fairly standard, nothing to brag about, 3 months should be bare minimum by law
As an American, I’d point out that there are structural reasons the U.S. often outpaces Europe in certain areas of innovation and business, tech and otherwise. Labor regulations in many European countries make it harder to reallocate talent quickly, which can slow down company formation and scaling.
That doesn’t make one model universally better. There are clear tradeoffs on both sides. But it is part of the equation worth considering in response to your point.
Ok I actually like the idea of flatter orgs and player-coaches a lot.
However, do we really need them to AI-wash the fact that as a lot of companies, this company over-hired during ZIRP? Do we really need them to AI-wash the fact that the crypto hype is gone, therefore their business is smaller? “Company as intelligence” and “AI productivity” are just buzzwords so their stock price doesn’t suffer.
Many comments are mocking the "Non-technical teams are now shipping production code" line as an obvious disaster waiting to happen.
I think this will be commonplace in the not too distant future.
Some disasters will happen, just like they did before AI. Skeptics will gleefully point out these failures while more and more non-technical teams ship code.
Will they also do the maintenance, future migrations, and handle prod alerts at 2am? I’m all to empower non technical people but shipping prod code isn’t the way to do it. What will happen is a very large amount of unmaintained services with no coherence, that will accumulate over time. I cannot imagine the monsters we will after a few years of that being normalized
No, because you're misunderstanding how this works.
Technical teams still need to design and build out the infra.
Technical teams still need to think about how to design and secure the backend systems.
The only thing that changes is that non technical people can now build UIs and internal tools on top of your core assuming you have solid APIs, MCPs, docs, and components to build on top of.
If you're allowing non-technical teams deploy mission critical software then you're not doing it right.
No one wakes up the frontend dude at 2am because the JS is doing something weird in the browser... All of the core infra and backend should still belong to technical teams.
I'm sure Coinbase understands this and when they say non-technical people are shipping software they don't mean they're vibe coding terraform infra and deploying full-stack user-facing applications.
I do understand the theory, none of what you mentioned is new to me or contradict my points. I do not believe things will be done right. It’s not only mission critical services that require maintenance and need to handle incidents. Internal services are as important to a company as their public facing ones, and once you get the ball rolling I do not believe we won’t see the same approach used for customer facing services. I also do not expect non technical people to understand differences between MCP servers, rest apis, direct db access, and other resources. If they do they are definitely technical… so it will be up to whatever they let the agent do. Which is the whole problem here, you need to be technical to understand and push back when agents are doing things wrong
Many people say this and they also say (see top comment) it being for financial company. But this being for financial company is an extra layer of risk that I am not willing to take personally.
> Second, AI is changing how we work. Over the past year, I’ve watched engineers use AI to ship in days what used to take a team weeks. Non-technical teams are now shipping production code and many of our workflows are being automated. The pace of what's possible with a small, focused team has changed dramatically, and it's accelerating every day.
As a reward, people driving the productivity have now received a reduction in their colleague pool.
> Coinbase is well-capitalized, has diversified revenue streams, and is well-positioned to weather any storm. Crypto is also on the verge of the next wave of adoption
Crypto is always about to take off. If the company is sitting so well, and is facing imminent growth, then they don't need to do layoffs, they want to. Or the company is not sitting so rosy and they're not too sure about their future.
> Non-technical teams are now shipping production code
This is going to save a lot of money ... until someone loots their vault and they go bankrupt. "Non-technical teams are now shipping production code" is the last thing you want to hear from your bank.
Lol “Non-technical teams are now shipping production code” definitely what I want my financial institution doing.
That statement does not inspire confidence considering how ripe crypto is for hackers/scammers, if anything it makes me want to close my Coinbase account.
Very early in the first Bitcoin boom cycle I had a friend who was into it, so I opened a Coinbase account because I thought it'd be funny to pay him the $15 I owed him for lunch or whatever in Bitcoin. I bought the $15 on a credit card, sent it to his wallet, we had our laughs about it, and I moved on. Years later, after it became clear that the only purpose of cryptocurrencies is scams & crime, I went to close my Coinbase account just for some basic digital hygiene. Except I found out that now, they only let you log in if you have an external bank account associated with your Coinbase account. And you can't delete your account without logging in. And there's no way in hell I'm associating my real bank account with a scam & crime agency. So I'm stuck with a Coinbase account I can't close or even log in to. Lol.
There's a law for that. If Coinbase did not require an external bank account to create the coinbase account, by law, they cannot require one to close the account. At least, that is what I have been led to believe. You could sue.
I have to admit I'm always baffled by these "you could sue over this trivial matter" replies. Do you think lawsuits cost no time or money? Obviously I'm not going to do that.
Given how crypto is the priority target for NK hackers it doesn't fare well for Coinbase to engage in such reckless behavior.
Not like it ever stopped the crypto industry before, if we're being honest
Exactly. That is completely irresponsible of them.
It takes one massive breach and theft from the exchange as a result of this and they are cooked.
Exchanges never recover after billions of dollars get stolen from the exchange.
Depends on what they're shipping. We're doing this with UI work, as long as your backend is secure I don't see what the issue is personally.
Generally engineers are not well placed to be building UIs.
Frontend has plenty of security considerations.
You are a npm import away from having big problems.
You're definitely doing something wrong if that's the case at your company.
Like letting non-technical teams ship production code
But the claude/cursor/kiro/codex said my code was production ready, enterprise grade, and PCI/alphabet soup compliant.
> Rebuilding Coinbase as an intelligence, with humans around the edge aligning it.
Oof. That smacks of hubris and valley-buzzwordism.
> Leaders will own much more, with as many as 15+ direct reports.
> Every leader at Coinbase must also be a strong and active individual contributor.
So, a manager who's managing 15 people AND expected to ship -- that sounds awful for both sides.
> So, a manager who's managing 15 people AND expected to ship
Right?? I saw that too. My first thought is that any good managers left will be racing for the exit. You can't fake "managing 15 people" with AI. You have to actually have the 1:1s and do the performance calibrations. How are they going to have time left for IC work??
I assume they will have absurd metrics, like number of commits and token use to,determine how good of an IC you are. So, you start a bunch of agents in the background, merge their PRs without review, while having 1:1 and other meetings with your team. Productivity they call it
"IC work" seems to have evolved at Coinbase to mean "supervise AI changes". Then the question becomes how will managers actually review these changes and not just press accept at 3:50.
The reality is that Coinbase earns on trading volume, and since we are in a crypto bear market, revenue is down. So they have to cut to keep the company profitable (or in line with what the investors expect).
While AI is likely a productivity boost, the underlying reason is not AI.
Yes, I'm not buying this story about layoffs due to AI. It's a convenient excuse, which these companies seem to be getting away with too.
And something else I don't get about these AI related layoff announcements: if AI was a productivity boost wouldn't you hire more engineers and technical staff to capture the value? Or else you're basically saying "we're a tech company that has no idea what to do with more super-engineers".
> Non-technical teams are now shipping production code and many of our workflows are being automated. T
Is Brian here? Can he speak more to this? What exactly are non technicals shipping to production code?
I've got no position in Coinbase but is that a wise thing to say as a public company? I'd be alarmed if I were a share holder
This is (unironically) what big institutional allocators love to hear. They've been sold the idea that almost every medium-very big tech corp is vastly overstaffed and can become a monster cash cow and stop SBC dilution by cutting headcount + becoming A.I first.
They hear this from the sellside, from activists, from the guys managing their private market allocations etc.
> We’ll also be experimenting with reduced pod sizes, including “one person teams” with engineers, designers, and product managers all in one role.
Experimenting or cost-cutting? Are these one-person "teams" you g to be paid more for having multi-domain roles regardless of how fast AI can churn out pseudo-MVPs?
We're going to see this become a trend beyond Coinbase, IMO. The idea that companies just want employees to be more productive is a farce. The C-suite would prefer to make no profit, have few to no employees, and get personally richer in the process.
Many upper level managers seem to be blind to the fact that the kind of person who can actually excel as a "do it all" is most likely not the kind of person that wants to work in that kind of environment. Those people will do a year or two pulling down a salary while they are also spinning up a side project, and then they'll bolt as soon as they can. It sounds like a recipe for constant employee churn, leaving behind a wake of fragile code.
Seriously. Why is everyone just silently accepting this?
Well, yeah. As an employee in general one isn't that bothered about profit. As long as one's own job is safe and the jobs of the people one's close to.
> - No pure managers: Every leader at Coinbase must also be a strong and active individual contributor. Managers should be like player-coaches, getting their hands dirty alongside their teams.
Geeks who didn't even stand near professional sports should really shut up about anything sport related, lol.
I would really like to see professional, established coach running around with young prodigies on a peak of their biology.
> - AI-native pods: We’ll be concentrating around AI-native talent who can manage fleets of agents to drive outsized impact. We’ll also be experimenting with reduced pod sizes, including “one person teams” with engineers, designers, and product managers all in one role.
And AI clowns will cheer and applaud this, not seeing that they're now doing the job of 5(!) people with the same salary. Why is nobody talking about this?
Also, I find it really bizarre that those neo feudal lords see their companies as just a life stock to count. They don't even count people, just see them as numbers to reduce/scale up. Modern tsardom, but instead of being tied via official decree you're now tied by your lifestyle and family.
"Some of you may die, but that is a sacrifice I am willing to make"
Publicly traded companies get their stock price punished if they just announce layoffs, whereas if they say it is because of AI, they do not see the same treatment.
If you look at Coinbase in 2020 they had roughly 1,200 employees. By 2022 they had roughly 4,500 employees.
They over hired and now they are pairing back, this is all it is.
I'll probably get some flack for this, but this is about as good of a layoff email as he could have sent.
* explains the reasons (financials, AI enablement)
* talks about what folks who are leaving get in detail (first) and thanks them
* talks to the folks who are staying
Layoffs are hard, no doubt, and I am not sure he's making the right choice. I see plenty of doubt about some of the actions in other comments that echoes mine. I certainly wouldn't want to have 15 direct reports and also ship production code regularly. But as CEO, it's his job to make these kinds of choices.
The proof is in the pudding as they say. We'll see how Coinbase does with this new orientation in the next year or so and that will determine if this was a wise or foolish move. Is there a flood of talent leaving? Major breaches? Business as usual with better than expected profits?
Time will tell.
> this is about as good of a layoff email as he could have sent.
Except for that tone-deaf part at the end, where right after he talks to the people who "will be leaving" (that is, the people getting kicked out), he says that Coinbase will be stronger and healthier for this. Which makes it hard not to draw the conclusion that the people "leaving" are part of the unhealth.
The CEO probably does not even think that, and just wants to reduce costs. But from what was written, the implications are decidecly suboptimal.
At least the compensation package sounds nice for those layed off.
What I'm really intrigued by is the non technical staff deploying code to production. Now that's a gamble I want to see in the crypto space.
"US employees will receive a minimum of 16 weeks base pay (plus 2 weeks per year worked), their next equity vest, and 6 months of COBRA."
4 months basic severance pay + 1 month for 2 years emploument is nice? so total 5 months severance after 2 years of working for them or only 6 months after 4 years
let me guess you are from US if you think this is nice, as European I would say this is fairly standard, nothing to brag about, 3 months should be bare minimum by law
As a European you're on a third as much though in the first place.
When I got laid off I got 0. The company I currently work for generally gives 0 severance as well. 5 months is extremely generous
But hey! Guns and bigger salary, or something. And less socialism.
> as European I would say this is fairly standard
I must live in a different Europe then. I'd say this would be EXTREMELY generous for Europe.
As an American, I’d point out that there are structural reasons the U.S. often outpaces Europe in certain areas of innovation and business, tech and otherwise. Labor regulations in many European countries make it harder to reallocate talent quickly, which can slow down company formation and scaling.
That doesn’t make one model universally better. There are clear tradeoffs on both sides. But it is part of the equation worth considering in response to your point.
AI and crypto --- what could go wrong?
This: User just tricked Grok and Bankrbot to send tokens with Morse code
https://www.cryptopolitan.com/user-tricked-grok-bankrbot-to-...
Fun read. Why would grok have access to a wallet? That sounds so absurd
People still unironically use Web3 as a term, that's hilarious.
Ok I actually like the idea of flatter orgs and player-coaches a lot.
However, do we really need them to AI-wash the fact that as a lot of companies, this company over-hired during ZIRP? Do we really need them to AI-wash the fact that the crypto hype is gone, therefore their business is smaller? “Company as intelligence” and “AI productivity” are just buzzwords so their stock price doesn’t suffer.
Many comments are mocking the "Non-technical teams are now shipping production code" line as an obvious disaster waiting to happen.
I think this will be commonplace in the not too distant future.
Some disasters will happen, just like they did before AI. Skeptics will gleefully point out these failures while more and more non-technical teams ship code.
Will they also do the maintenance, future migrations, and handle prod alerts at 2am? I’m all to empower non technical people but shipping prod code isn’t the way to do it. What will happen is a very large amount of unmaintained services with no coherence, that will accumulate over time. I cannot imagine the monsters we will after a few years of that being normalized
No, because you're misunderstanding how this works.
Technical teams still need to design and build out the infra.
Technical teams still need to think about how to design and secure the backend systems.
The only thing that changes is that non technical people can now build UIs and internal tools on top of your core assuming you have solid APIs, MCPs, docs, and components to build on top of.
If you're allowing non-technical teams deploy mission critical software then you're not doing it right.
No one wakes up the frontend dude at 2am because the JS is doing something weird in the browser... All of the core infra and backend should still belong to technical teams.
I'm sure Coinbase understands this and when they say non-technical people are shipping software they don't mean they're vibe coding terraform infra and deploying full-stack user-facing applications.
I do understand the theory, none of what you mentioned is new to me or contradict my points. I do not believe things will be done right. It’s not only mission critical services that require maintenance and need to handle incidents. Internal services are as important to a company as their public facing ones, and once you get the ball rolling I do not believe we won’t see the same approach used for customer facing services. I also do not expect non technical people to understand differences between MCP servers, rest apis, direct db access, and other resources. If they do they are definitely technical… so it will be up to whatever they let the agent do. Which is the whole problem here, you need to be technical to understand and push back when agents are doing things wrong
> I think this will be commonplace in the not too distant future.
And due to this it deserves even more mockery.
Many people say this and they also say (see top comment) it being for financial company. But this being for financial company is an extra layer of risk that I am not willing to take personally.
> Crypto is also on the verge of the next wave of adoption
Since roughly 2018 I reckon, at least.
This REALLY is the year of the Linux Desktop
> Second, AI is changing how we work. Over the past year, I’ve watched engineers use AI to ship in days what used to take a team weeks. Non-technical teams are now shipping production code and many of our workflows are being automated. The pace of what's possible with a small, focused team has changed dramatically, and it's accelerating every day.
As a reward, people driving the productivity have now received a reduction in their colleague pool.
And increase in their workload. Win-win!
> Non-technical teams are now shipping production code and many of our workflows are being automated.
As a security engineer this statements fills me dread.
Over the past year, I’ve watched engineers use AI to ship in days what used to take a team weeks.
And I suspect that over the coming year, we'll be watching the consequences of this unfold.
I d like to know what exactly Coinbase has shipped with this addition to productivity.
"Difficult decision" says billionaire sacking people, many of whom have families, so he can make even more money.
> Leaders will own much more
Heh. This is the kind of phrasing that just begs to be misunderstood.
Coinbase has achieved "AGI" internally.
> Coinbase is well-capitalized, has diversified revenue streams, and is well-positioned to weather any storm. Crypto is also on the verge of the next wave of adoption
Crypto is always about to take off. If the company is sitting so well, and is facing imminent growth, then they don't need to do layoffs, they want to. Or the company is not sitting so rosy and they're not too sure about their future.
> Non-technical teams are now shipping production code
What could go wrong?
Even his post is written by AI. Now that's efficiency!
What is going to be the event that triggers Wall Street to realize a lot of these companies have been lying about their financials?
"Non-technical teams are now shipping production code"
This is going to save a lot of money ... until someone loots their vault and they go bankrupt. "Non-technical teams are now shipping production code" is the last thing you want to hear from your bank.
It is weird to read this considering they should have enough money to employ enough software engineers.
Why would non-programmers need to ship production code in a financial context?
Because it’s faster and cheaper, which are two very important metrics?
I’ve never wondered if BoA is moving fast