Coinbase is a mission focused company
There have been a lot of difficult events in the world this year: a global pandemic, shelter in place, social unrest, widespread protests…
Brian Armstrong
117d ago
443
Yet again, @brian_armstrong leads the way. I predict most successful companies will follow Coinbase's lead. If only because those who don't are less likely to succeed.
Super interesting to see Coinbase's stance on clarifying their mission ( see -> blog.coinbase.com/coinbase-is-a-…).
Since this has been an active discussion in many places, setting up a poll on whether people want to see other companies do this.
Impressive!
Starts out invoking Breonna Taylor's name.
Proceeds to call "causes" a distraction.
Ends by saying what type of company "people" want to work for, declaring "causes" banned, and that if you don't like it, you'll be managed out.
My favorite new contrarian Silicon Valley theory is that you can remove politics from your workplace by wishing it in a Medium post
Major props to Coinbase CEO @brian_armstrong. One of the few SV CEO's with courage in these times who declares his company will not engage in any issue discourse unless it is directly related to his business blog.coinbase.com/coinbase-is-a-… pic.twitter.com/IwGMwDmaD6
"We could use our work day debating what to do about various unrelated challenges in the world, but that would not be in service of the company or our own interests as employees and shareholders."
Great post from @brian_armstrong at @coinbase.
Hey @coinbase if you think race discussions are a distraction, all that tells me is you've prioritized white comfort over equal treatment for your Black employees. Be straight just, say that.
Hey everyone who says that they equally scrutinize male leaders for building poor company cultures, where is your coverage of this trash?
Great leadership by @brian_armstrong - Coinbase is a mission focused company | by Brian Armstrong.
Coinbase publishes a "clarification" of its mission, stating it won't take on activism outside of its focus or debate causes or political candidates internally (@brian_armstrong / The Coinbase Blog)
blog.coinbase.com/coinbase-is-a-…
techmeme.com/200928/p26#a20…
An absolutely clownish approach to leadership and teamwork. Keeping your head in the sand over divisions just lets them fester, which *will* eventually break up the team. blog.coinbase.com/coinbase-is-a-… pic.twitter.com/EjgIJYUdHA
Narrowly focusing on "fiduciary duty" to build "value" ignores the fact that companies exist within the scope of a society, and if the world is burning and you're too busy "executing" to help if you think you can, you're failing society.
But you do you.
Veiled threat much?
“But for some employees, working at an activism focused company may be core to what they want, and we want to prompt that conversation with their manager to help them get to a better place.” — @brian_armstrong
0/ Quick thoughts on @brian_armstrong's @coinbase post.
How it showcases the tensions in stakeholder capitalism 👇
People are furious about this but it is so much more honest than this idea that, like, Google or ExxonMobil are supposed to be important vectors for social-justice efforts
Sorry, snowflakes, this is a business.
Massive respect for @brian_armstrong. Well done.
Coinbase is a mission focused company by @brian_armstrong blog.coinbase.com/coinbase-is-a-… // This is very thoughtful.
if you are silent in the face of oppression then you have taken the side of the oppressor.
"I think these efforts are well intentioned, they have the potential to destroy a lot of value at most companies"
Company value is not more important than black lives. Company value is not more important than democracy.
3/ That’s why the new movement that @brian_armstrong has started around mission-focused companies makes so much sense.
I remember when folks from @splcenter came to speak at @lyft. Lyft was directly supporting them.
I wanted to ask about losing a $3M defamation case to @MaajidNawaz. But I didn't because I didn't want to get fired over some confusion.
This is refreshing
Salesforce, a $220B fast growing company has shown that you can be both mission focused AND play a role in societal issues. They don't seem to be distracted.
@bryan_caplan In Silicon Valley you see a minority of firms and investors market to non-leftists.
From a Coinbase's blog
You might not agree with elements (or any) of this, but it's a cogent articulation of how Coinbase wants to operate
Unfortunately, tech twitter is tribal so instead of a thoughtful discussion of this, it's gone immediately to name calling & attacks
The ability to choose a “nonpolitical” path is probably the highest form of privilege
Good for @Coinbase, keeping the company focused on new technology rather than political activism.
Maybe a role model for other companies
