In a blog post, Coinbase co-founder and CEO Brian Armstrong has asked that employees who value activism to feel free to leave the company. The cryptocurrency company boss revealed that he wants Coinbase to be laser focused. Thus leaving no room for it to ‘take on activism outside’ of its core mission at work.
Armstrong said that the lengthy statement became important due to the political unstable situation of the US. He mentioned events regarding Breonna Taylor as well as; the widespread protests and riots, pandemic, wildfires and the upcoming US election.
“Everyone is asking the question about how companies should engage in broader societal issues during these difficult times, while keeping their teams united and focused on the mission. Coinbase has had its own challenges here, including employee walkouts. I decided to share publicly how I’m addressing this in case it helps others navigate a path through these challenging times,” Brian Armstrong wrote.
He said that Coinbase will be putting the company’s goal first ahead of any particular team or individual goals. Also, he said that the company will focus on what unites and not what divides. To maintain high performance, the company will change team members when needed instead of including everyone regardless of performance.
Still, Armstrong assures the public that Coinbase welcomes everyone who can do their best work. This, without minding their background, s****l orientation, race, gender, age, etc.
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“We don’t advocate for any particular causes or candidates internally that are unrelated to our mission, because it is a distraction from our mission. Even if we all agree something is a problem, we may not all agree on the solution,” Coinbase CEO further wrote.
Brian Armstrong says that while he understands the good intention of some Silicon Valley companies to engage in social activism; “They have the potential to destroy a lot of value at most companies, both by being a distraction, and by creating internal division,” he explained.
He even name-dropped Google and Facebook as having internal issues and reduced productivity. However, he acknowledges that many employees at Coinbase may have different viewpoints. “This is where there is a blurry line between moral statements and politics,” Armstrong wrote.
Thus, he gave employees who may feel uncomfortable working in this kind of environment the opportunity to leave the company. “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. Life is too short to work somewhere that you aren’t excited about, and we’re happy to make that a win-win conversation,” he said.
Coinbase CEO Brian Armstrong statement drew a lot of ire on social media. It also drew commendations as well with many saying the CEO is doing what is best for the company.
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