<story><title>Inside Coinbase’s Executive Turmoil: Conflicting Visions</title><url>https://www.theinformation.com/articles/inside-coinbases-executive-turmoil-conflicting-visions?pu=hackernews4fm0af&amp;utm_source=hackernews&amp;utm_medium=unlock</url></story><parent_chain><item><author>Traster</author><text>It sounds like this is a great example of how 1 bad hire can destroy an entire company. It sounds like Brian Armstrong is not suited to be a CEO. If you don&amp;#x27;t have your own clear vision for the company, and instead leave it to your subordinates it&amp;#x27;s only natural that you&amp;#x27;ll end up with multiple people pulling in different directions.</text></item></parent_chain><comment><author>mbesto</author><text>&amp;gt; It sounds like this is a great example of how 1 bad hire can destroy an entire company.&lt;p&gt;It sounds like this is a very myopic view. My favorite quote is quite apt here &amp;quot;Assigning single factor causation to the output of complex adaptive system is a triumph of hope over experience.&amp;quot;&lt;p&gt;Here&amp;#x27;s my theory - Coinbase had explosive growth largely due to tailwind effects of the BTC craze several years ago. Since crypto trading has basically flattened coupled with competitors entering the market, then Coinbase is likely no longer growing and may in fact be doing less revenue than it was previously. Company&amp;#x27;s start to scramble when they cease to grow. Stakeholders double down. Employees start looking elsewhere. Executives make brash decisions based on emotions. etc etc.</text></comment>
<story><title>Inside Coinbase’s Executive Turmoil: Conflicting Visions</title><url>https://www.theinformation.com/articles/inside-coinbases-executive-turmoil-conflicting-visions?pu=hackernews4fm0af&amp;utm_source=hackernews&amp;utm_medium=unlock</url></story><parent_chain><item><author>Traster</author><text>It sounds like this is a great example of how 1 bad hire can destroy an entire company. It sounds like Brian Armstrong is not suited to be a CEO. If you don&amp;#x27;t have your own clear vision for the company, and instead leave it to your subordinates it&amp;#x27;s only natural that you&amp;#x27;ll end up with multiple people pulling in different directions.</text></item></parent_chain><comment><author>repomies691</author><text>Coinbase doesn&amp;#x27;t look anywhere like destroyed to me. It is still the number one place to trade cryptos in many places and has something like 30 million users AFAIK. If you look at the numbers the company is doing amazingly well. You can find like thousand silicon valley startups that are not having similar problems with executives but financially are doing way worse.&lt;p&gt;So, is Armstrong a bad CEO or not? That is very difficult to know. Maybe someone else could deliver even more profit and more products and keep them running. But I would guess the investors are quite happy with coinbase compared to their other investment.</text></comment>