Opening notes by Brian Armstrong show that he is a tall man.
“A lot of tough events have happened in the world this year,” Coinbase’s president said, saying that the largest cryptocurrency exchange in the US will immediately try to ignore it.
According to a recently published blog by Armstrong, Coinbase’s mission is to “create an open financial system for the world”. He deleted the second part of the company’s mission statement, which is the section on being “the world’s leading brand that helps people convert digital currency into local currency and vice versa,” which does not clearly convey the nobility of its goal, but rather indicates the source of profit.
And that’s really the part we’re going to focus on, not the “economic freedom” it describes as fundamental to Coinbase’s goals. Because Armstrong does not talk about financial freedom in his letter. It does not discuss why it is important, why it is necessary, or who suffers from it.
Armstrong’s “message oriented” message, which obligates the company not to politicize, ignores the fact that economic freedom is a political and humanitarian problem. Blocked activities on Coinbase now include discussion of “political causes or candidates within the company” and “activation outside of our primary business mission.”
Combined with an email he then sent to employees, he offered an end-of-service bonus of four to six months for those who agreed that “life is too short to work in a company you don’t care about,” says Armstrong. Does opposition seem like more than just a love letter to interested parties in a potential IPO, complete with a rich dowry – removing opposition from Coinbase’s body policy.
Coinbase’s $ 8 billion direct listing has been the subject of industry speculation, and it was also the vehicle that chose Palantir to “seal billionaire fortunes” for co-founder Peter Thiel and CEO Alexander Karp. With direct listing, shareholders sell directly to buyers and avoid blocking. How is the encryption?
It is no coincidence that the emails Armstrong sent to employees were written just weeks after Karp told investors prior to their IPO that if they wanted to change their customer base or culture, they would “choose another company.”
Karp, by the way, also stated that “the engineering elite in Silicon Valley … may know more than most others about software development. But they don’t know more about how society is organized and what justice requires.”
It’s almost as if Armstrong was reading the Palantir IPO Rules.
Microsoft President Brad Smith officially stated this year, “I don’t think our employees are gullible. Sometimes they seem to me to be perfect. I think the world needs a mixture of idealism and pragmatism.” But he’s one of the few tech managers who seem to like the idea that employees won’t test their faith at an entrance Complex or garden.
Earlier this year, Google fired four employees that it said had “committed willful and repeated violations of its long-standing data security policy.” All four inadvertently denounced the company’s treatment of its employees and were unhappy with the company’s relationship with some government clients.
Salesforce employees challenged the company’s relationship with Immigration and Customs. Amazon employees opposed selling police facial recognition software. Even Google has backed employees’ objections to the use of AI technology in the drone attack project.
Obviously, despite the unusually directed nature of US labor law to the employer – which primarily provides employers with absolute mandate to fire someone at any time for any reason other than discrimination – Big Tech faces an internal and external account.
And it is precisely this ambiguity that Armstrong sneaked into, giving him a long-standing commitment to creating a quiet workplace without political rhetoric that would undoubtedly pique the interest of potential Coinbase investors who are unwilling to continue.
There was a time when Google’s motto was “Don’t be evil.” It was simple and elegant advice that helped adapt the company to the motivations and beliefs of its employees, customers, and even investors. Evil cannot be defined, but it was part of the beauty of the feeling. This indicates a sense of fairness that exists in each of us choosing to work in a “message oriented” organization.
Today the slogan “Do it right”. Suppose there are no double standards: “We decide what’s right, and you can party together.”