Please ensure Javascript is enabled for purposes of website accessibility

Coinbase says NO to engaging in any societal issues. Thoughts?

  • Coinbase says NO to engaging in any societal issues. Thoughts?

  • Chris Hoyt

    Organizer
    October 1, 2020 at 11:48 am

    Even on our eXpert Tease call this morning we talked about organizations and leaders who should do the right thing for the right reason with regards to DE&I as opposed to just checking a box here and there. But Coinbase released a pretty controversial memo from CEO Brian Armstrong where he said that the company will NOT engage in any societal issues unrelated to their core mission. (They’re a crypto company, btw.)

    I’d love to hear your thoughts on this pretty bold statement. If you haven’t read it yet, here’s the link…

    https://blog.coinbase.com/coinbase-is-a-mission-focused-company-af882df8804

    0
  • Rachael Flores

    Member
    October 2, 2020 at 7:14 am

    Bold is right. I read that and was immediately turned off – not a company I would engage with. I’d be curious how many other women and POC feel that way, how many are possibly self-selecting out and what their employee demographics look like.

    1
    • Chris Hoyt

      Organizer
      October 2, 2020 at 11:26 am

      There is something to be said for staying on mission and working towards a purpose but I’m not sure what it says about the leadership when you try to pull your organization into a bubble to get work done. Ignoring humanity and empathy and societal issues within the walls of our workspace seemingly in the name of just getting shit done doesn’t exactly sound like a healthy direction for any organization. In my humble opinion, of course.

      0
  • Chris Hoyt

    Organizer
    October 9, 2020 at 9:18 am

    “Google CEO Sundar Pichai and others have continued to wrestle with this issue, as have hundreds of other tech companies faced with similar choices.

    Over at Facebook, CEO Mark Zuckerberg is perpetually plagued by content moderation issues and employees irate over where the company chooses to draw the line.

    Yet no matter where leaders do draw that line, every few months employee and public pressure forces them to draw it again.

    Enter Armstrong, who had clearly had enough.

    His solution, which is both practical and harsh, was to kindly invite those who disagreed with his position to leave. In fact, by offering such generous severance, he flat-out tempted them to.”

    – Jessica Lessin (https://www.theinformation.com/articles/why-coinbase-ceo-brian-armstrong-will-lose)

    Except that it was reported this morning that 60 people took the package and exited Coinbase as of yesterday via Forbes (https://www.forbes.com/sites/rachelsandler/2020/10/08/60-employees-leave-coinbase-over-ceos-pledge-to-be-apolitical/)

    0

Log in to reply.

Original Post
0 of 0 posts June 2018
Now