It has been a year since Coinbase announced that they would focus on their business and keep activism out of their corporate culture and it turns out … it was a good business decision. Who could have known?
We have a much more aligned company now, where we can focus on getting work done toward our mission. And it has allowed us to hire some of the best talent from organizations where employees are fed up with politics, infighting, and distraction.
It turns out that there are people from every background who want to work at a mission focused company.
— Brian Armstrong
We kind of need a saying that’s the positive version of “go woke, go broke” because it appears to be equally true. And this should not have surprised anyone: A corporation that focuses on their business rather than the politics-flavour of the day and keeping track of what is acceptable today, must have a better shot at succeeding.
What was amazing was the contrast between the news following my post, and the reaction from employees and people who spoke to me in private.
While the media reports were mostly negative, and it even spawned some retaliatory and intellectually dishonest hit pieces, the reaction both from employees and people I spoke to in private was overwhelmingly positive.
In fact, I would say it was probably the most positive reaction I’ve gotten from any change I’ve made in the history of the company, which is saying something. How could something be so negative in the press, but turn out to be incredibly positive with every stakeholder.
The only sense I can make of it, is that there is a huge mismatch between peoples stated and revealed preferences right now, and we’re operating in an environment of virtue signaling and fear of speaking up.
— Brian Armstrong