[pavlov]

> “Feel free to cite your source.”

You don’t think Coinbase is losing money?

Go to their investor relations page:

https://investor.coinbase.com/home/default.aspx

Open the Q4 2022 shareholder letter. It’s printed right there: a loss of $557M on revenue of $605M.

The loss is nearly as large as their entire revenue! Is that a sign of a healthy business? It’s like selling $5 pancakes that each cost you $10 to make.

[piqi]

You've moved the goal posts from "stealing" funds to highlighting that a business has revenue and costs during a quarter.

> ...a loss of $557M on revenue of $605M.

> It’s like selling $5 pancakes that each cost you $10 to make.

$605m - $557m = $48m (7.9% gain)

$5 - $10 = -$5 (100% loss)

Yup... Exactly the same. More false and irrelevant info. At least you're consistent! Keep the FUD flowing!

[danans]

> $605m - $557m = $48m (7.9% gain)

In the report ($557M) doesn't mean "expenses". It's an overall loss. A $557M loss means they spent all that $605M in revenue and another $557M on top of that.

[piqi]

Thanks for clarifying.

Their previous statement was not clear:

>The loss is nearly as large as their entire revenue

Their initial claim is "Coinbase is piling up losses, it will eventually be bankrupt, and executives will have accumulated billions while customers will lose billions." And saying this is "stealing" from customers.

I haven't been advocating for purchasing the stock. I don't own it.

Regardless, looks like they had positive net income in 2020 & 2021. Coinbase isn't the only business dealing with losses 2022. I still very much disagree with "piling up losses... eventually be bankrupt"

[pavlov]

It’s a good idea not to own a stock if you can’t read the income statement. Fortunately that kind of boring traditional finance stuff is not a problem in crypto.

[piqi]

Me: "I haven't been advocating for purchasing the stock. I don't own it."

You: "It’s a good idea not to own a stock if you can’t read the income statement."

I figured it out! It's your reading comprehension! I was wondering why I had to repeat myself so much in this thread, and why you had been trailing off on tangents away from each point you attempted to pivot around. While ignoring each of your previous statements.

I hope you can sort that out. Wish you the best.

[p0pcult]

>selling $5 pancakes that each cost you $10 to make.

So the Silicon Valley business model?

[Zanfa]

They'll make it up in volume.