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26 Nov, 16 tweets, 3 min read
1) Building a team
2) We tend to think about teams differently from many companies.

For instance, here's our dev team, lead by Gopher (bottom), about 15 minutes before our company shoes up to Thanksgiving Dinner. Image
3) But more seriously -- two things we think about very differently than most places: headcount, and titles.
4) We have grown a lot in the last year--more than 100%!

And, to us, our headcount feels Large right now. We're nearing 200 people.

That also likely makes us one of the smallest companies with $1b+ of annual revenue.
5) One of the subtle advantages to having a smaller team is the impact it has on responsibility and culture.

We try to foster a sense of responsibility in every employee--that there are huge numbers of important things to do, and we should all feel empowered to help do them.
6) And as employees look around, they see people all over doing exactly that.

And by having way more to do than we have capacity to do it, we gain another benefit: there isn't really competition internally to get the "important" roles.

We have important roles growing on trees.
7) And if there's a problem to fix or opportunity to grow, and you have an idea for it, the default behavior isn't to email a report asking them to do it.

The default behavior is to do it: to take responsibility.

Even our "managers" are > 50% individual contributors.
8) And this leads into our philosophy on titles.

A title isn't an invitation to do important things, because everyone can do important things, and is expected to.

A title is a burden: the responsibility to _make sure_ important things happen.
9) If you have a title, that doesn't mean you get credit if your team does something cool--they do.

Having a title means you are held accountable if something important _doesn't_ get done, no matter who was "supposed" to do it.
10) "But this was Bill's job" is not a relevant excuse for someone with a fancy title.

Our job is to make sure the right things get done, whatever it takes.

And ultimately, _my_ job is to make sure the right things happen.
11) Everything, in the end, is my fault, if it goes poorly. That's what it means to be CEO.

It doesn't matter if it's Thanksgiving; those blocks won't chain themselves. Image
12) (Though, to be fair, I'm not much of a dev -- all credit goes to the actual devs. And Gopher.)
13) My real job is to make sure the important things happen. Often that means championing exciting new features; unfortunately, right now that's not which duty calls highest. Right now, the things that are most important for FTX and industry are happening under the radar.
14) More on that later.

But for now, a huge thank you:

To the few friends crazy enough to jump on a plane from Boston based on a delirious late night chat.

To the group who showed up in a small coworking space in Causeway Bay to press the "on" button for the first time.
15) To the thirty people who tried to figure out how to pop a champaign bottle the night of our first listing.

The hundred people who powered through the bear market of spring 2020.

The two hundred who came to work Thanksgiving week to push forward long term projects.
16) And to the thousands, or maybe just hundreds, who will be with us through the next stage of our adventure.

And, to gopher, who is trying his hardest not to bark every time a new colleague shows up for Thanksgiving dinner. Image

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More from @SBF_FTX

9 Nov
1) Some notes from @coinbase's Q3 earnings!…
2) First, how have they (and others!) done recently?

Well, they're the yellow line. They had a mediocre Q3, but they're probably in line for a good Q4!
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Well, they made $1.2b of revenue and $600m of EBITDA.

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8 Nov
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1) Filing taxes isn't fun. As it turns out, for many people, it's also a bit of an odd exercise.…
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Asking you to tell the IRS what it already knows.
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Filing taxes is basically the government issuing you a test, judging how well you do, as it is actually collecting new information.
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Why is this????
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