Hiring Freeze? 🧊

Given the recent concerns about the market turning bearish and the DAO’s effectiveness vis-a-vis it’s spend, I am considering what it would look like if we tightened our belts over at Gitcoin Holdings.

I am going to be proposing a Hiring Freeze to Gitcoin Holdings’ Leadership team on Monday.

A little Gitcoin History: During the Great Bear, Gitcoin was 12 people. We survived + ran Grants rounds for over 2 years at this team size. So I know it’s possible to operate with a bit more of a scarcity mindset.

Of course, that was 0 to 1 Gitcoin, and we are now pursuing 1 to 10 Gitcoin. Gitcoin has ballooned to 100+ contributors, and we’ve grown very quickly - Some people have turned around from being hired themselves to hiring 1-4 people themselves during the next several months of joining. Of course, it is hard to scale culture this way - as the values the team starts with (in 2018-2020, leanness, a focus on shipping product - among other things) are likely to get inflated away.

It is my opinion that we’ve jumped from 0 to 1 straight to 10 to 100 without actually hitting the milestones that the 1 to 10 phase would imply (growing GMV, retiring 1.0 / shipping the 2.0 version of the Dapp + getting traction). I think it’s time to pump the brakes.

The reasons to consider a hiring freeze are:

  1. Extend runway.
  2. Lower the chances that a RIF is needed for the DAO to survive.
  3. Focus on creating the conditions for more lean operations & high ROI operations.
  4. Stop expecting that we can hire our way out of our problems / to our goals.
  5. Turn the team to those who are the right fit for this stage of the thread.

Of course, Gitcoin Holdings is not GitcoinDAO. I may be the CEO of the Holdings company, and be able to make a call at the Holdings Co, but I am just one node in the GitcoinDAO network. The DAO has no CEO. It is up to workstream leads & DAO leadership whether it wants to tighten it’s belts.

So consider this an FYI. I am posting this thread to overcommunicate in case other workstreams want to do the same as Gitcoin Holdings.


found this interesting thread about how coingecko is preparing for a potential bear market

and here is a great article from YC about how their portfolio companies are preparing for the bear (startups are not 1:1 with DAOs but there still may be some good thoughts):