Today, I made the incredibly difficult decision to lay off 35% of the dYdX core team. We now have the team we need going forwards, but first we say goodbye to those who have left.
Today we said goodbye to many of you. Our friends and teammates. You are the people who have put years, dreams, and yourselves into the company. You have been dedicated teammates through the good and bad. You continued to build dYdX, even when I did not.
Each one of you has excellence, integrity, and authenticity. Thank you to each one of you for what you have given dYdX.
There's much sadness in the end of the large part dYdX has played in each of your lives, and the large part you have played in dYdX. We have created an amazing community where we care about each other as people, not just "coworkers". I'm proud of that more than anything else we've built. That makes these moments of losing not just coworkers, but friends, all the more deeply heartbreaking.
But what we have built is not so easily lost. The friendships, experiences, products, and love will remain. We who continue on will always keep our hearts and doors open to you. I have seen this over and again, and it will continue. What we are building is much larger than just a company, and this you will always be a part of.
The decision to let go was a realization that the company we’ve built is different from the company dYdX must be. We will move forward with clarity and renewed passion. We will create amazing things.
Though there is pain in parting, I know you will do the same. I can’t wait to see what you create with the learnings, inspiration, and relationships you gained from dYdX.
Thank you for the long awaited product launches, memorable team offsites, nights on the beach in the rain, and nervous first interview we shared. Thank you for leaving a part of your self with me and dYdX.
Fly on.