Coinbase ran a recruiting / retention analysis a while back and they found out among all the things they could do to retain talent: offsites, more bonuses / promos, etc. the number one driver of recruiting + retaining successfully was price activity

Back in 2015 we noticed that employee satisfaction was highly correlated with price if you joined the company in a bull market, and uncorrelated if your start date was in a bear market.

Technowatermelon. Elder Millenial. Building Farcaster. 

nf.td/varun

The number of people making the jump ‘into Web3’ in the last 2020 run up were opportunists and never cared about what was being built.

Everyone took them on as they scaled, removing the old guard on the vague notion it would pay off as an IPO