we're making @blocks smaller today. here's my note to the company.
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today we're making one of the hardest decisions in the history of our company: we're reducing our organization by nearly half, from over 10,000 people to just under 6,000. that means over 4,000 of you are being asked to leave or entering into consultation. i'll be straight about what's happening, why, and what it means for everyone.
first off, if you're one of the people affected, you'll receive your salary for 20 weeks + 1 week per year of tenure, equity vested through the end of may, 6 months of health care, your corporate devices, and $5,000 to put toward whatever you need to help you in this transition (if you’re outside the U.S. you’ll receive similar support but exact details are going to vary based on local requirements). i want you to know that before anything else. everyone will be notified today, whether you're being asked to leave, entering consultation, or asked to stay.
we're not making this decision because we're in trouble. our business is strong. gross profit continues to grow, we continue to serve more and more customers, and profitability is improving. but something has changed. we're already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company. and that's accelerating rapidly.
i had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. i chose the latter. repeated rounds of cuts are destructive to morale, to focus, and to the trust that customers and shareholders place in our ability to lead. i'd rather take a hard, clear action now and build from a position we believe in than manage a slow reduction of people toward the same outcome. a smaller company also gives us the space to grow our business the right way, on our own terms, instead of constantly reacting to market pressures.
a decision at this scale carries risk. but so does standing still. we've done a full review to determine the roles and people we require to reliably grow the business from here, and we've pressure-tested those decisions from multiple angles. i accept that we may have gotten some of them wrong, and we've built in flexibility to account for that, and do the right thing for our customers.
we're not going to just disappear people from slack and email and pretend they were never here. communication channels will stay open through thursday evening (pacific) so everyone can say goodbye properly, and share whatever you wish. i'll also be hosting a live video session to thank everyone at 3:35pm pacific. i know doing it this way might feel awkward. i'd rather it feel awkward and human than efficient and cold.
to those of you leaving…i’m grateful for you, and i’m sorry to put you through this. you built what this company is today. that's a fact that i'll honor forever. this decision is not a reflection of what you contributed. you will be a great contributor to any organization going forward.
to those staying…i made this decision, and i'll own it. what i'm asking of you is to build with me. we're going to build this company with intelligence at the core of everything we do. how we work, how we create, how we serve our customers. our customers will feel this shift too, and we're going to help them navigate it: towards a future where they can build their own features directly, composed of our capabilities and served through our interfaces. that's what i'm focused on now. expect a note from me tomorrow.
jack
If @Ledger, @Phantom, @Rabby, @Trust are UberX, then why the fuck do I need to go to Houdini Swap for Uber Black? I need privacy in my wallets...
@HoudiniSwap
@OfficialTravlad@Ledger@phantom@trust@HoudiniSwap Houdiniswap can't hold a gun to their head to make them do what's good for them and everyone ¯\_(ツ)_/¯ They've been doing privacy for 3 years now, billions of transactions, not a cent lost, not sure what the wallets are waiting for.
I love @phantom , @MetaMask , @Ledger , etc... but I'm tryna send/receive assets privately and need to use Houdini Swap.
Why tf isn't this native within the wallets.
Wen private mode?
After careful review and internal discussion, we have made the decision to discontinue support for Kadena (KDA) across all Koala Wallet products and services. This includes the delisting of KDA from the Koala Wallet app, as well as the discontinuation of our Kadena-related platforms such as kdaexplorer.com and kadenaecosystem.com.
Kadena support will remain available until December 31, 2025. After this date, Kadena services and integrations will be fully retired. To maintain uninterrupted access to your Kadena assets, we recommend that all users export their Kadena private key and import it into a wallet that continues to support the network, such as Linx, Ecko Wallet, or other reputable Kadena-compatible wallets.
You can follow this step-by-step guide to export your Kadena private key from Koala Wallet:
support.koalawallet.io/hc/en-us/artic…
We’re also glad to see a successful, community-run fork of Kadena emerging. If you’re participating in that ecosystem, importing your keys into a supported wallet will ensure you can access those coins as well.
Thank you for your understanding and for being part of the Koala Wallet community. If you have any questions or need assistance during this transition, our support team is here to help.
@koalawallet thanks for your support of the KDA ecosystem past the LLC's ending
sad what happened and totally comprehend why you guys are shutting down.