{"id":13243,"date":"2022-07-15T04:40:50","date_gmt":"2022-07-15T04:40:50","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coinbase-is-still-adjusting-to-crazy-employee-growth-ceo\/"},"modified":"2022-07-15T04:40:50","modified_gmt":"2022-07-15T04:40:50","slug":"coinbase-is-still-adjusting-to-crazy-employee-growth-ceo","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coinbase-is-still-adjusting-to-crazy-employee-growth-ceo\/","title":{"rendered":"Coinbase is still adjusting to &#8216;crazy&#8217; employee growth: CEO"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<ul>\n<li>\n<p dir=\"ltr\"><em><strong>Coinbase added to its headcount by 200% year-over-year as crypto saw massive growth.<\/strong><\/em><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\"><em><strong>The risks of that is what informed the decision to thin out the employee numbers in June.<\/strong><\/em><\/p>\n<\/li>\n<li>\n<p dir=\"ltr\"><em><strong>Now the focus on \u201cdriving efficiency\u201d with scaling in mind to better serve customers.<\/strong><\/em><\/p>\n<\/li>\n<\/ul>\n<p dir=\"ltr\">Coinbase is looking at ways to ensure efficiency at all of its operations during these lean crypto times, Brian Armstrong, the CEO of the top crypto exchange said in a<a href=\"https:\/\/blog.coinbase.com\/operating-efficiently-at-scale-e6e2378d3d4\" rel=\"noopener noreferrer\" target=\"_blank\">\u00a0<u>blog post<\/u><\/a>.<\/p>\n<p dir=\"ltr\">Commenting on the company\u2019s massive employee growth over the past eighteen months, Armstrong noted that it was a \u201cton\u201d of growth. However, even as they adjust to that, it\u2019s time to focus on \u201cdriving more efficiency.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Coinbase grew a ton in 2021 and we&#8217;re still adjusting to that growth. One of the crazy parts about our industry is that in any given year we might be growing 300-500% or -50%. It makes it incredibly challenging to plan and culturally to absorb so many people during up periods.<\/p>\n<p>\u2014 Brian Armstrong \u2013 barmstrong.eth (@brian_armstrong) <a href=\"https:\/\/twitter.com\/brian_armstrong\/status\/1546903041214799872?ref_src=twsrc%5Etfw\">July 12, 2022<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">According to the Coinbase boss, unchecked workforce growth may see a company slow down and become less efficient.\u00a0<\/p>\n<p dir=\"ltr\">When this happens, most largely to massive scaling, getting off the wrong turn often eats up \u201cmore dollars, more people and more time\u201d just to get things going. In the meantime;<\/p>\n<p dir=\"ltr\">\u201c<em>Coordination headwinds increase, vetocracies emerge, risk tolerance fades, and teams become inwardly focused instead of staying focused on their customers,<\/em>\u201d he added, pointing to the risks of unchecked headcount growth.<\/p>\n<h2>What great companies do<\/h2>\n<p dir=\"ltr\">Armstrong, whose company is among those to lay off employees amid the crypto winter, said that the outcome (layoffs) was what any great company would do.<\/p>\n<p dir=\"ltr\">\u201c<em>Every great company, from Amazon to Meta to Tesla, found ways to retain their founding energy in conjunction with appropriate controls, even as they scaled to be much larger than Coinbase is today<\/em>,\u201d he wrote.<\/p>\n<p dir=\"ltr\">He explained that in most cases, the so-called great companies always find ways to \u201cmaintain their insurgent mindset,\u201d doing so to avoid careening into complacency and turning into an \u201cirrelevant\u201d at a later date.<\/p>\n<p dir=\"ltr\">\u201c<em>That\u2019s why we\u2019re focusing on driving more efficiency at Coinbase. After 18 months of ~200% y\/y employee growth, many of our internal tools and organizing principles have started to strain or break. So we\u2019ve been digging in to identify the set of changes we need to make to help us succeed at this new scale,<\/em>\u201d he added.<\/p>\n<p dir=\"ltr\">One of the steps towards achieving this was to<a href=\"https:\/\/blog.coinbase.com\/a-message-from-coinbase-ceo-and-cofounder-brian-armstrong-578d76eedb12\" rel=\"noopener noreferrer\" target=\"_blank\">\u00a0<u>cut their headcount<\/u><\/a> as was done in June.\u00a0<\/p>\n<p dir=\"ltr\">The exchange will also continue to find novel ways to add more efficiency to its services, with the objective being to return to that \u201cmindset and approach\u201d by which the company saw much success.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/coinbase-grew-a-ton-in-2021-and-is-still-adjusting-ceo-says\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Coinbase added to its headcount by 200% year-over-year as crypto saw massive growth. The risks of that is what informed the decision to thin out the employee numbers in June. Now the focus on \u201cdriving efficiency\u201d with scaling in mind to better serve [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":13244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13243"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=13243"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/13244"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=13243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=13243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=13243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}