ShapeShift, a digital asset global trading platform company founded in 2014, with the chief executive officer, Erik Voorhees, lays off a total of 37 employees as the CEO suggested that the company had lost its focus and was not a team anymore rather than a bunch of employees working aimlessly. The crypto analyst, Joseph Young jumps into the mix advising Voorhees to assess the situation cautiously and carefully and plan accordingly. There are several examples adding up to 99% of total ventures to date, which have in some place and somewhere made errors but their success was when they sorted these errors. ShapeShift as per Voorhees needs to have a sole focus over which every member of the team agrees and performs accordingly. A lost vision is a no vision at all and is worth throwing manpower and financial resources over. BlockPublisher took to the task of extracting some valuable remarks from Young about the Swiss company’s (run out of Denver) temporary fall.
Though laying off 37 employees is a serious fallback for a major company, there i nothing short of little failures in order to avert the ultimate disaster which is only possible in case you take something out of the failure. About 99% of firms have made same mistakes including ConsenSys & Bitmain. ShapeShift needs to re-evaluate its previous tactics, refocus and dedicate efforts to the core products.
The sound of the public had some other views about the crypto company. Crypto enthusiasts emerged out in the scene to state their thoughts about the minute fall in ShapeShift’s success charts. A crypto fan suggested that ShapeShift bit more than the company could ever chew as they attempted to tackled bitcoin in the crypto game. Bitcoin is the standard bearer in the crypto community and is considered a deity. Competing with the massive experience that bitcoin had led ShapeShift to its temporary demise or should we call it hibernation.
They waged a war on Bitcoin and they lost. They pumped useless no product tokens. I’d say there was no focus.