Responded here https://twitter.com/brian_armstrong/status/15353049437284147...
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Coinbase employees petition to remove execs
341–350 of 488 posts
Re: Coinbase employees petition to remove execs
#342Responded here https://twitter.com/brian_armstrong/status/15353049437284147...
Brian, you have legitimate points. Here are my edits to your tweets to help people receive them better (i've tried to not change the message, just the tone):
""" I’m deeply troubled by this, but not for the reasons you might imagine: https://news.ycombinator.com/item?id=31690452
2/ First of all, if you want to do a vote of no confidence, you should do it on me and not blame the execs. I was a little offended not to be included :)
3/ Second, let’s separate the problems that you perceive to stem from a few execs, and those that you believe are core to the company's mission. If you don’t like the mission, your decision is easy: you should leave. If a few unpopular execs, my decision is hard.
4/ Third, making suggestions on how to improve the company is a great idea (in fact, we expect everyone to be a part of that). But our culture is to praise in public, and criticize in private.
5/ Fourth, our culture is to retaliate against whistleblowers. Instead of negotiating with you, if you get caught you will be fired. """
The rest was really good!
Re: Coinbase employees petition to remove execs
#343Responded here https://twitter.com/brian_armstrong/status/15353049437284147...
No post body was provided.
Re: Coinbase employees petition to remove execs
#344Responded here https://twitter.com/brian_armstrong/status/15353049437284147...
Brian, you have legitimate points. Here are my edits to your tweets to help people receive them better (i've tried to not change the message, just the tone): """ I’m deeply troubled by this, but not for the reasons you might imagine: https://news.ycombinator.com/item?id=31690452 2/ First of all, if you want to do a vote of no confidence, you should do it on me and not blame the execs. I was a little offended not to b…
>Brian, you have legitimate points. Here are my edits to your tweets to help people receive them better (i've tried to not change the message, just the tone):
>5/ Fourth, our culture is to retaliate against whistleblowers. Instead of negotiating with you, if you get caught you will be fired.
That's just terrible advice - whistleblower retaliation is illegal, and you're suggesting he retaliate publicly? I'd argue that your post could best be condensed to, "Speak with your legal team before you publicly respond to something like this."
Re: Coinbase employees petition to remove execs
#345Earlier quoted context omitted.
Was Bezos an engineer? I thought he was a hedge fund guy before founding Amazon.
He studied Physics at Princeton and had a technical background from what I understand.
His degree was in Electrical Engineering and Computer science. He was offered jobs at Intel and Bell Labs, some of the highest technical companies at the time in 1986. He worked at Fitel, a fintech startup for 2 years programming financial networks. Then he went into management.
Re: Coinbase employees petition to remove execs
#346Initiatives like the Dot Collector and the Performance review system that has led to a toxic workplace culture I was curious about that "Dot Collector": Dot collector was an application invented by Ray Dalio’s hedge fund and Bridgewater Associates. The application has set its foot in Coinbase since the start of the year and has been in use by the HR and IT teams of the company. The user interface of the app is quite…
It's not as simple as this rating system, there's a lot more principles and frameworks that they used in their culture at Bridgewater outside of just this dot collector piece. You can find deeper material on this in Ray Dalio's Principles book.
But yeah that alone sounds like hell.
Also, Bridgewater associates were being paid ridiculous amounts (I think, haven't run specific nubmers on this) by someone widely regarded as a visionary, so they were much more incentivized to stay and deal with this stuff. I suspect that there wasn't a comparable job opportunity for them at the time, whereas with Coinbase in a market downturn...
Re: Coinbase employees petition to remove execs
#347Responded here https://twitter.com/brian_armstrong/status/15353049437284147...
>Second, if you have no confidence in the execs or CEO of a company then why are you working at that company? Quit and find a company to work at that you believe in! This comment is really, really tone-deaf. People can believe strongly in the vision and mission of a company while also feeling strongly that upper leadership is steering it in the wrong direction and/or making decisions that negatively impact the compan…
Exactly. I remember when ponytail became the CEO at Sun. Most of Sun employees loved Sun to a level that hasn't been experienced anywhere else, while hating the new CEO.
Re: Coinbase employees petition to remove execs
#348I have been watching this unfold ever since I bought my very first crypto on Coinbase many years ago. I can not believe that Brian Armstrong does not ever do a moral accounting and deep dive inside himself. If he was not such a narcissist, he could have the best CEX, going away. But, he continues to shoot himself in both feet at every turn. I feel sorry for such a self-UNaware person who thinks he is better than everybody because he's a billionaire. Believe me, I know what I am talking about. No, I am not a billionaire. I am a retired teacher and mental healthcare psych technician. I can only hope that he will see that if he changed his ways and attitudes toward ALL people, he would be much richer and happier, as would we all. I hope he gets help, or the board replaces him. Or both. Brian, you are out of touch with reality, ensnared in a gigantic trap of epic denial.
Re: Coinbase employees petition to remove execs
#349Oh for heaven's sake, just quit. Vote with your feet and walk them out the door to another job. The market is good (for now), best do it before that changes. When the people who do the actual work leave and they can't hire anyone due to their poor reputation because of the previously rescinded offers, they'll reap their own rewards.
Why shouldn't the execs be kicked out if they are not performing to standards? Why should regular employees leave for problems in their heirarchy?
It's not really their problem, it's the shareholders problem.
Re: Coinbase employees petition to remove execs
#350Earlier quoted context omitted.
Yikes. Insulting your employees is not a good look. > We praise in public and criticize in private But you’re criticizing employees in public right now? As the CEO and founder I think you need to be receptive to criticism and take it on the chin. This tweet reads as if it was written in a frustrated, spontaneous episode. That’s also not a really inspiring look for outsiders or investors. Best of luck, I’m moving over…
Brian has an exceptionally long history of holding himself to a dramatically lower standard than he holds his employees. It is hard to imagine a reason that he would change.
I've met him. One of the biggest jerks I've encountered among Bay-area founders.