If there is a manager in your life, there is a good chance that they are miserable right now.
They are miserable for the reasons everyone is miserable: the pandemic; quarantine; the challenges of working from home while raising children; the steady erosion of American democracy. But unlike us working stiffs, managers are miserable for another reason: their employees are miserable, too — and worse, they expect the managers to do something about it.
This is particularly true because the US government has become staggeringly unresponsive to its citizenry — unable to provide for their basic safety and economic security during a historic crisis. Meanwhile, corporations — particularly big US tech corporations — tend to be very responsive to their workforces, courting their feedback regularly and using it to improve the operations of the company. And so the worse that the government performs, the more that workers ask of their employers.
Other managers, though, are taking a look at all of these dynamics and saying the hell with it. Take it away, Coinbase CEO Brian Armstrong (emphasis his):
It has become common for Silicon Valley companies to engage in a wide variety of social activism, even those unrelated to what the company does, and there are certainly employees who really want this in the company they work for. So why have we decided to take a different approach?
The reason is that while I think these efforts are well intentioned, they have the potential to destroy a lot of value at most companies, both by being a distraction, and by creating internal division. We’ve seen what internal strife at companies like Google and Facebook can do to productivity, and there are many smaller companies who have had their own challenges here. I believe most employees don’t want to work in these divisive environments. They want to work on a winning team that is united and making progress toward an important mission. They want to be respected at work, have a welcoming environment where they can contribute, and have growth opportunities. They want the workplace to be a refuge from the division that is increasingly present in the world.
As a result, Armstrong said, Coinbase would not take positions on broader societal issues, advocate for political causes or candidates, or commit more than a minimal amount of time or resources to nonprofit work. “We are an intense culture and we are an apolitical culture,” he wrote.
Armstrong’s post resonated with some prominent members of the managerial class, who showered it with more than 5,000 Medium claps. “Yet again, Brian Armstrong leads the way,” tweeted Y Combinator founder Paul Graham. “I predict most successful companies will follow Coinbase’s lead. If only because those who don’t are less likely to succeed.”
As more people read Armstrong’s post, my timelines began to light up with takes. The tweets, which more often come from rank-and-file workers, expressed skepticism that an organization whose mission is “to use cryptocurrency to bring economic freedom to people all over the world” could also manage to be apolitical. Meanwhile, my direct messages lit up with takes from managers, who argued that a less political company is the kind that most people want to work at. If you’re an underrepresented minority and find yourself regularly confronted with internal posts that you regard as hostile, you’ll probably want to work elsewhere.
And sure, a person who is regularly posting hostile or borderline-hostile messages internally might deserve to be fired. But certain beliefs are protected — you can’t be fired for your views on religion, for example. And so, like basically everything we cover here at The Interface, the question of what employees should be allowed to say — and what they should be allowed to demand from their employers — becomes a question of content moderation.
Given how difficult content moderation is, it’s no surprise that some companies are trying to limit discussion of these issues at all. Coinbase made headlines for it this week, but earlier this month it was Facebook in a similar spot. Here’s Salvador Rodriguez at CNBC:
Under the new set of principles, Zuckerberg said, Facebook will ensure all employees feel supported at work, especially the company’s Black community, by strengthening the company’s harassment policy with more protections for underrepresented employees.
The company will also be more specific about which parts of Workplace can be used to discuss social and political issues. This change will be so that employees do not have to confront social issues during their day-to-day work.
If the past year has seen a surge of employee activism in the workplace, it seems, the next will see managers attempt to swing the pendulum back in the other direction. In addition to the moves announced this week, for example, Coinbase also removed two Slack channels that employees were once able to use to ask questions. (Like Facebook, the company now asks employees to submit questions in advance, with Armstrong and other executives answering only the questions with the most votes.)
Talking with current and former Coinbase employees over the past day, I found mixed reviews of Armstrong’s post. (The company itself declined to comment when I asked.)
“Most people disagree with the stance and don’t see a clear-cut separation of the company’s mission and societal issues,” one employee told me. “Others may agree with the spirit of what Brian’s suggesting, knowing how he personally thinks about mainstream issues, but don’t agree with the tone or the approach.”
Whatever you think about Armstrong’s move, I suspect that on some level we will ultimately look back on it as an act of wishful thinking. Armstrong is not alone in wishing that the polarized politics of 2020 would recede into the background long enough to let us concentrate on work. But nothing now unfolding in the world around us suggests that anything of the sort is about to happen. On the contrary, the next several weeks promise to inject politics into everyday life in frequent and possibly unsettling new ways.
It may be that your friendly neighborhood cryptocurrency exchange has nothing of consequence to add to these events. But it seems more than a little odd to declare that to be so in advance, and by fiat. Politics are not vampires — they do not need to be invited in to enter your home.
One last point: it was reported last night on Twitter by Erica Joy, and confirmed by my own sources, that Coinbase engineers walked out on the job in June after Armstrong declined to issue a public statement affirming that Black lives matter. (He later did so in a Twitter thread.) Inside the company, it is widely believed that Armstrong’s post this week is his response to the walkout — an effort to remind employees who is in charge.
And if that’s the case, it’s worth saying that much of what we have been discussing this summer has not been “politics” so much it has been human rights. Breonna Taylor was shot dead by police in the middle of the night; Armstrong’s post referred to the killing only as “recent events regarding Breonna Taylor,” before the coldness of the language was mocked on Twitter and he deleted any reference to her.
There are many issues on which I can easily accept that a cryptocurrency exchange, or really any company, has no opinions. But during an election year in which democracy itself is at stake, and state-backed violence against protesters continues unchecked, racial justice can’t be one of them. By lashing out at employees who dared to challenge him, the CEO’s worldview became crystal clear. Coinbase won’t be apolitical so much as it will be as political as he wants it to be, and those politics will be whatever Brian Armstrong says they are.
The Ratio
Today in news that could affect public perception of the big tech platforms.
Michael Borrus, the founding general partner of XSeed Capital, said CFIUS scrutiny is causing investors and companies to think twice about deals.
“We’ve had Chinese VCs or Chinese families who have been interested in putting money in” to some companies where XSeed Capital is a shareholder, Borrus said. “In the current environment, we’ve decided it’s too complicated.” […]
CFIUS is particularly focused on companies and apps that collect sensitive personal information on users, such as location or financial data, and on companies involved in technology seen as critical for national security, such as certain types of battery technology and biotechnology, lawyers said, requesting anonymity to discuss sensitive matters. The committee is mostly inquiring about Chinese investment, but on a few occasions has asked about Russian investors.
The technology could also show up in Whole Foods stores, with Amazon hinting in a press release that it will introduce palm payments in the coming months at its other stores beyond its Amazon Go locations. Kumar wouldn’t comment on a potential Whole Foods implementation, though the New York Post reported a year ago that such a plan was in the works.
OTTAWA – Prime Minister Justin Trudeau says the NDP is caving to political pressure from Conservative Leader Pierre Poilievre when it comes to their stance on the consumer carbon price.
Trudeau says he believes Jagmeet Singh and the NDP care about the environment, but it’s “increasingly obvious” that they have “no idea” what to do about climate change.
On Thursday, Singh said the NDP is working on a plan that wouldn’t put the burden of fighting climate change on the backs of workers, but wouldn’t say if that plan would include a consumer carbon price.
Singh’s noncommittal position comes as the NDP tries to frame itself as a credible alternative to the Conservatives in the next federal election.
Poilievre responded to that by releasing a video, pointing out that the NDP has voted time and again in favour of the Liberals’ carbon price.
British Columbia Premier David Eby also changed his tune on Thursday, promising that a re-elected NDP government would scrap the long-standing carbon tax and shift the burden to “big polluters,” if the federal government dropped its requirements.
This report by The Canadian Press was first published Sept. 13, 2024.
Simon Jolin-Barrette, minister responsible for consumer protection, has tabled a bill to force merchants to calculate tips based on the price before tax.
That means on a restaurant bill of $100, suggested tips would be calculated based on $100, not on $114.98 after provincial and federal sales taxes are added.
The bill would also increase the rebate offered to consumers when the price of an item at the cash register is higher than the shelf price, to $15 from $10.
And it would force grocery stores offering a discounted price for several items to clearly list the unit price as well.
Businesses would also have to indicate whether taxes will be added to the price of food products.
This report by The Canadian Press was first published Sept. 12, 2024.
Quebec legislature member Youri Chassin has announced he’s leaving the Coalition Avenir Québec government to sit as an Independent.
He announced the decision shortly after writing an open letter criticizing Premier François Legault’s government for abandoning its principles of smaller government.
In the letter published in Le Journal de Montréal and Le Journal de Québec, Chassin accused the party of falling back on what he called the old formula of throwing money at problems instead of looking to do things differently.
Chassin says public services are more fragile than ever, despite rising spending that pushed the province to a record $11-billion deficit projected in the last budget.
He is the second CAQ member to leave the party in a little more than one week, after economy and energy minister Pierre Fitzgibbon announced Sept. 4 he would leave because he lost motivation to do his job.
Chassin says he has no intention of joining another party and will instead sit as an Independent until the end of his term.
He has represented the Saint-Jérôme riding since the CAQ rose to power in 2018, but has not served in cabinet.
This report by The Canadian Press was first published Sept. 12, 2024.