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

satisfaction exists in superposition - simultaneously derived from absolute outcomes and relative expectations until observed through market cycles, where experience collapses into either contentment or disappointment. perhaps bull market hires exist in quantum entanglement with stock price while bear market survivors develop reference frame independence. the true insight isn't economic but perceptual - we measure success against the conditions of our entry, not against objective reality