Perhaps because the company lost half a billion dollars last quarter and is in a controversial space facing regulatory scrutiny?
>That number (or higher) has been the norm at a huge swath of stable and profitable tech companies for a decade+.
Yeah, stable and profitable.
So what? Last year COIN made $3.62B earnings. They may need to shift at some point, but I think it's incorrect to act like 1-2 bad quarters means a company should completely shift their plan. If anything, it's more important than ever to hire top people - which requires a decent salary.
These are not "top people", they are average people. This isn't Lake Wobegon, where all the kids are above average.
>So what? Last year COIN made $3.62B earnings.
Only in Silicon Valley do people say "so what" to profits and quote revenue numbers. We're literally talking about high costs. Selling dimes for a nickel is simple, but not sustainable.
2021 Fiscal Year https://finance.yahoo.com/quote/COIN/key-statistics?p=COIN
Of course past results are not indicative of the future, but in 2020 and 2021 COIN had positive earnings.
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001679788/8e5e050...
COIN had a bad quarter and expects to have another. Are we seeing a shift away from crypto and tech or repricing which things will continue again? I think it's too soon to tell, hence my so what. COIN needs tighten up and plan for what's next. It doesn't mean they need to assume crypto is going to zero and the company is over - yet.
Wouldn't you expect people to be paid more for working in a risky space? Also, please not Coinbase just announced a hiring freeze.
https://blog.coinbase.com/employee-note-an-update-on-hiring-...