My hypothesis about coinbase and companies like them is that their hiring process is bad. Like they arent hiring the talent they think they are, and the higher ups have no clue what theyre doing when hiring talent. Leetcode interviews bring memorizers and career strivers in the door, not innovators. Facebook is famous for not creating any new products, and copying literally everything. Theyre also famous for a SWE interview process that emphasizes literal memorization of algorithms. Ofcourse tightening monetary policy has had a huge effect, but where are the innovative products from coinbase? What are they doing with all those people?<p>I argue that a company like Amazon, that actually focusses on behavioral questions brings in far better job candidates.