Coinbase is laying off 700 people. They have approximately 4950 people working for them currently. And check this out. This is Brian Armstrong’s words. Today I’ve made the difficult decision to reduce the size of Coinbase by 14%. I want to walk you through why we’re doing this now, what it means for those affected, and how it positions us. So, this is what he says right now. This is what’s going on. There’s two forces converging at the same time that we need to be front footed to respond to both. First, the market. Coinbase is well capitalized, has diversified revenue streams, and is well positioned to weather any storm.

Crypto’s on the verge of the next wave of adoption. This is what I’m referring to. We’re in a lull during a bull market run. And what’s happening right now is that there are less people trading crypto because they don’t understand crypto. The time where most people should be buying crypto during a lull, during a pullback, is actually right now. And this is, do not confuse this with buy the dip on a downward trend. Now, I’m going to make something very clear. I believe we’re actually going to see a little bit of strength in the next week in crypto.

And I think we’re going to see continued weakness in crypto, like a sharp drop due to geopolitical conflicts, a stock market downturn, and all of that stuff. Excuse me. And then we’re going to swing higher when the Clarity Act comes out and stuff like that. But in the meantime, Coinbase and all kinds of exchanges around the world are seeing lower trading volumes, meaning they’re bringing in less money. And that’s what he talks about. Second, he says, AI is changing how we work over the past year. I’ve watched engineers use AI to ship in days what used to take a team weeks.

Non-technical teams are now shipping production code, and many of our workflows are being automated. The pace of what is possible with a small focus team has changed dramatically, and it’s accelerating every day. This is exactly why I put out a bunch of AI products, how to learn AI. And I told people, I said, if you don’t know this, if you’re an employee and you don’t know AI, the cutting edge latest stuff. And I put people through like here, here’s a subscription every month. Here’s the latest and greatest in how to use it. You’re going to lose your job.

And this is going to affect people worldwide. I know it sounds crazy, except for in the smallest service businesses where you’re completing a task, a physical task that a robot can’t do yet, you’re good. But for a lot of people, you’re going to be laid off. And if you’re not wowing your middle management or your CEO with every week, it seems like you know something new, they’re going to lay you off. And when it comes to Coinbase and crypto, here, this is one of the largest exchanges on earth, and they’re laying off more than 10% of their workforce.

Every time we report on a new company that’s laying people off, I just want you to realize that’s that many more people. And I see it everywhere. I talk to people from Facebook that are laid off, even the robotics fields that are getting laid off. It’s crazy how many people are struggling. Those people do not have money now, next month, because they probably didn’t save a lot of money to pay their car payments, pay their home payments. And this is akin, but it’s on a bigger scale than what happened in 2007, as layoffs started picking up all around the country.

I think the AI narrative combined with hey, fuel costs are surging like crazy in quarter three, they’re going to talk about this from the quarter two results is going to cause some very serious disruptions in the stock market, some serious volatility. And I believe that’s going to affect all kinds of asset prices from crypto to gold and silver, everything. So please be aware of what’s going on. Hey, I want to remind you that we’re doing the sale. It’s pre-filming sale for the crypto sniper course. If you want to learn how to buy and sell crypto in a whole different way.

It’s a mindset shift. I built an entire system with documents to fill out and all this stuff to where you have a system that will take the emotion out of trading. Links down below that sales going for a couple days. Okay, I can’t guarantee when we’re going to end it because I’m about 85% done with the course. All right, that being said, the economic ninja is out. [tr:trw].

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