Ryan Adams
👤 SpeakerAppearances Over Time
Podcast Appearances
At the same time, we have two pretty large multi-billion dollar VC raises.
Tell us about this.
I don't think this was AI, though.
I mean, I think it was like... I think AI is a useful scapegoat.
It makes everything more tolerable.
Yeah, and I don't even know if it's a scapegoat.
Goat, really?
He didn't say that this was the reason necessarily.
He just said, we're going to take this opportunity for efficiencies, right?
But to your point, they've done this every single cycle.
There have been 1,200 layoffs in crypto in the past five months.
So Coinbase 700- Coinbase being the big one.
Yeah, that's the big one.
And to your point, fun fact, these layoffs previously from Coinbase have marked the bottom.
So June 2022, 18% of the workforce, they laid off.
It wasn't quite the bottom, but pretty close.
Yeah, pretty close, pretty close.
So this happens.
I agree.
I agree.