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Topic: Sixty Coinbase employees take buyout offer after no politics at work rule (Read 425 times)

legendary
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The easiest analogy is if more than 50% of any given company leaned one way in politics and someone who leaned the other way kept getting turned down for promotions, that user could make a case for bias in the work place for not getting promoted.
hero member
Activity: 2632
Merit: 833
Latest from the Coinbase drama
It's not really surprising. When it comes to their customers, Coinbase have always been about invading their privacy, controlling their spending, freezing (censoring) their coins if they do not like where they came from or where they are going to. It's not exactly surprising that such an ethos would spill over on to their employees as well.

Yeah, in other words, controlling freak, that's the way they wanted to do with their employees right now.

The most surprising thing about all of this is just how much of the community is quite happy to lap up Coinbase's completely transparent attempt at an excuse for this, which is entirely to do with their own profits and has absolutely nothing to do with the wider good.

But there could be some on the opposite side of the spectrum, it looks like Coinbase has truly shown their skin, and I'm not surprised that #DeleteCoinbase will be hot again, specially after acquiring Neutrino that angry majority of us, because it spells against the very core value of crypto, which is privacy. Although they may have done some damage control, it's too late and then this. They might be losing customers already.
sr. member
Activity: 632
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http://scientificcoin.com/
Politcs could make any job worse. Sometimes its better to avoid it at all
legendary
Activity: 2268
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Latest from the Coinbase drama
It's not really surprising. When it comes to their customers, Coinbase have always been about invading their privacy, controlling their spending, freezing (censoring) their coins if they do not like where they came from or where they are going to. It's not exactly surprising that such an ethos would spill over on to their employees as well.

The most surprising thing about all of this is just how much of the community is quite happy to lap up Coinbase's completely transparent attempt at an excuse for this, which is entirely to do with their own profits and has absolutely nothing to do with the wider good.
hero member
Activity: 2660
Merit: 551
I would do the same if I became the CEO of a company, talking about politics at work will only make the atmosphere uncomfortable.
Sometimes without realizing it, political debates will only create noise, and will definitely have an impact on work productivity.
So what the CEO of Coinbase is doing should be copied by the CEOs of other companies. Because talking about politics at work will not
give any benefit to the company. So being professional at work must be done, because we get a salary not to talk about politics.

I have worked with different American companies and we even have political debates inside and outside of the office space, but it doesn't affect our work productivity. Perhaps people now are really into politics, but if your employer, in this case Coinbase has personally ask you to delete a slack post? I would say wait a minute, that's my personal view and it has nothing to do with our company. I think this is just the start of purging inside Coinbase itself so I wouldn't be surprised if more employees opted out in the next coming months.
full member
Activity: 1190
Merit: 117
I would do the same if I became the CEO of a company, talking about politics at work will only make the atmosphere uncomfortable.
Sometimes without realizing it, political debates will only create noise, and will definitely have an impact on work productivity.
So what the CEO of Coinbase is doing should be copied by the CEOs of other companies. Because talking about politics at work will not
give any benefit to the company. So being professional at work must be done, because we get a salary not to talk about politics.
hero member
Activity: 2632
Merit: 833
Latest from the Coinbase drama:

Coinbase’s New ‘Direction’ Is Censorship, Leaked Audio Reveals

Quote
During the meeting, Armstrong claimed there is a “silent majority” at Coinbase that agreed with his decision but feared reprisal from colleagues. Armstrong and Coinbase leadership, however, failed to soothe fears that this policy would police employees if they voiced opinions that did not align with Armstrong or this “silent majority.”

One former Coinbase employee who left the company after the AMA and to whom Motherboard provided anonymity due to fear of industry reprisal said that these assurances were insufficient and workers feared surveillance and censorship.

These fears are not unfounded. Emile Choi, Coinbase's chief operating officer, explained that at least two employees were asked to delete Slack posts, and that HR head L.J. Brock “proactively reached out to employees to explain why their posts would be taken down. He had a very productive conversation with both of them and they understood the context,” she said.

https://www.vice.com/en/article/5dpmp8/coinbases-new-direction-is-censorship-leaked-audio-reveals

Is Coinbase getting out of boundaries here by requesting their employees to remove their Slack posts? And this could really be mean censorship or at least employees freedom are suppress with this actions from them?
legendary
Activity: 3080
Merit: 1500
So a few weeks ago Brian Armstrong, CEO of CoinBase put out a "no politics at work memo"
If you did not like it you could take a 4 to 6 month buyout and leave. As of now it looks like 60+ people or 5% +/- a bit of their workforce took it.

I think it's good. Work is for work, politics is for the bar after work so to speak.

But, it's a slippery slope. After no politics do you ban the Star Wars vs. Star Trek discussions. Ford vs Dodge? IPA vs Dark Beer?

Some articles:
https://www.coindesk.com/coinbase-dan-yoo
https://arstechnica.com/cars/2020/10/sixty-coinbase-employees-take-buyout-offer-over-no-politics-rule/

-Dave

Excellent step by Coinbase! Even though it wouldn't ensure that the polictics at work will end, but the people will be more cautious about it! Politics at work really ruins the work culture of a company. I have faced similar situations quite a few time in my 10 years of professional career. Welcoming change from the perspective of corporate culture! I hope coinbase will do better as a company!
legendary
Activity: 3948
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Leave no FUD unchallenged
I would imagine there are a few staff in the 60 who simply saw this as a nice time to take a paid sabbatical.

Exactly.  Or, if you're lucky enough to have a new job lined up quickly, you effectively get a nice big bonus.  I'm sure the timing worked out very fortuitous for some of them.
full member
Activity: 365
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Some things works just fine or even better without politics. Financical startups its a good example
newbie
Activity: 27
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Typical bullpoop. Companies do not need a social identity. They are for profit business and any social cause they do is all for show. Also who wants to work in an office or job that people just blast you with what ever political poo they want to talk about. I mean a causal joke among peers is fine but thinking that Mac Cheeseburger actually cares about any cause is shortsighted.
legendary
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hero member
Activity: 3234
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There is toxicity inside the working place just because of politics. In social media, this often happens when two people don't agree with each other's political views. They tend to ignore each other and just forget the friendship that they've built.
And the same in workplaces, it will affect their productivity and their connection as colleagues. Brian understands this and he doesn't want that to happen under his radar.
hero member
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I understand Armstrong created the new coinbase policy in other avoid distraction or internal division within the company and i was unable to read the policy but I read that it was about some employees promoting anti-racist and gender causes. However, i think there more to the reason why Armstrong create the buyoff strategy.
legendary
Activity: 2268
Merit: 18775
But on the other hand elections are really close right now, so maybe this was the cause of it?
As I understand, Brain Armstrong (CEO) was asked on an employee conference call why Coinbase hadn't come out in support of Black Lives Matter and gave a very vague and non-committal answer, which resulted in a bunch of employees immediately logging off the call in protest.

But either way, for whatever reason this rule is installed now, it can be used as I described in the future, and I think the chance of it isn't that low, considering how immoral Coinbase has always been.
Exactly. Speak up about Coinbase aiding agencies who wage war, who suppress rights, who torture, who murder? Now you can be terminated immediately with zero protections.
sr. member
Activity: 1246
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Leading Crypto Sports Betting & Casino Platform
So a few weeks ago Brian Armstrong, CEO of CoinBase put out a "no politics at work memo"
If you did not like it you could take a 4 to 6 month buyout and leave. As of now it looks like 60+ people or 5% +/- a bit of their workforce took it.

I think it's good. Work is for work, politics is for the bar after work so to speak.

But, it's a slippery slope. After no politics do you ban the Star Wars vs. Star Trek discussions. Ford vs Dodge? IPA vs Dark Beer?

Some articles:
https://www.coindesk.com/coinbase-dan-yoo
https://arstechnica.com/cars/2020/10/sixty-coinbase-employees-take-buyout-offer-over-no-politics-rule/

-Dave
I think that banning discussions is a violation of freedom of speech. Politics matters to many people, and they have a right to talk about it with their colleagues, just like about anything else they find appropriate. Not to mention that politics is a very broad notion. Talking about parties and definitely politics. But how about human rights violations? Or discrimination? Or even about certain values like tolerance? Some might argue that supporting cryptos due to appreciating decentralization is also politics (and it is, truly, grounded on some political ideas). So the rule will not be easy to enforce, I'm sure there'll be disputed cases. And I'm not surprised some chose to leave.
This is true, it is people's democracy to have the freedom of speech and freedom to express his views. Whether it goes into heated arguments, then surely it has the chance of leading to violence. This will be a disturbance to the workplace. Most of the time political debates come out of work pressure, and the mind needs relaxation. By this time people who like politics and have social responsibility try to put forth their views to feel relaxed. This at times leads to heated arguments and might end up with fights. Here the responsibility needs to be taken by the management and letting people have healthy discussion to make changes in the social life.
legendary
Activity: 3038
Merit: 2162
Absolutely. I would imagine there are a fair few people who are interested for working for crypto companies for the same reason a fair few people here are interested in bitcoin in the first place - being sick of the failure of traditional monetary systems, and how they only work to enrich themselves at the expense of everybody else. Perhaps they saw a career in crypto as an opportunity to help address injustice and inequality. And then they see Coinbase partner with Hacker Team (who have already been selling their software to dictators and war criminals), and working with the US government, and leasing their products to the FBI/CIA/DEA/IRS, and so on. And they see Coinbase slowly turn in to the very thing they got a career in crypto to try to help combat.

Not surprised 5% of their workforce have taken the opportunity to leave. I imagine that if unemployment wasn't at its highest in 80 years, that 5% figure would be far higher.

That incident is what I kept in mind when I was writing my post, and if this policy was created shortly after that, it would be pretty easy to draw connections. But on the other hand elections are really close right now, so maybe this was the cause of it? But either way, for whatever reason this rule is installed now, it can be used as I described in the future, and I think the chance of it isn't that low, considering how immoral Coinbase has always been.
legendary
Activity: 3332
Merit: 1404
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So a few weeks ago Brian Armstrong, CEO of CoinBase put out a "no politics at work memo"
If you did not like it you could take a 4 to 6 month buyout and leave. As of now it looks like 60+ people or 5% +/- a bit of their workforce took it.

I think it's good. Work is for work, politics is for the bar after work so to speak.

But, it's a slippery slope. After no politics do you ban the Star Wars vs. Star Trek discussions. Ford vs Dodge? IPA vs Dark Beer?

Some articles:
https://www.coindesk.com/coinbase-dan-yoo
https://arstechnica.com/cars/2020/10/sixty-coinbase-employees-take-buyout-offer-over-no-politics-rule/

-Dave
I think that banning discussions is a violation of freedom of speech. Politics matters to many people, and they have a right to talk about it with their colleagues, just like about anything else they find appropriate. Not to mention that politics is a very broad notion. Talking about parties and definitely politics. But how about human rights violations? Or discrimination? Or even about certain values like tolerance? Some might argue that supporting cryptos due to appreciating decentralization is also politics (and it is, truly, grounded on some political ideas). So the rule will not be easy to enforce, I'm sure there'll be disputed cases. And I'm not surprised some chose to leave.
legendary
Activity: 2548
Merit: 1234
Frankly, we don't know the exact situation at Coinbase and what caused this decision. It's one thing if there's a lot of political debates that distract employees from work and cause tension, but this could have also be done to silence any criticism and disagreement over the company's actions. If in the future Coinbase will get caught providing their services to some dictators, rogue nations, war criminals, etc. - this no-politics rule can be used to prevent employees from protesting.
I tend to agree!

No politics at work memo isn't a bad idea since people come to work for the job that they applied for, but is it really possible to stop the employees from any political discussion whereas small talks whether political or any topics could help the employees avoid boredom and it also build a friendly relationship with coworkers.

It's also possible that it could bring divisions and misunderstanding to each employee but in the end, they would still realize that misunderstanding because of political beliefs is somehow a childhood behavior so they will tend to forget it and become friends again after all if we always want camaraderie in the workplace and political discussion at work is too shallow to lose friends and coworkers for an adult.

Besides, this company's action will have a benefits for all coinbase staff to make their service better and good.
legendary
Activity: 2268
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If in the future Coinbase will get caught providing their services to some dictators, rogue nations, war criminals, etc. - this no-politics rule can be used to prevent employees from protesting.
Absolutely. I would imagine there are a fair few people who are interested for working for crypto companies for the same reason a fair few people here are interested in bitcoin in the first place - being sick of the failure of traditional monetary systems, and how they only work to enrich themselves at the expense of everybody else. Perhaps they saw a career in crypto as an opportunity to help address injustice and inequality. And then they see Coinbase partner with Hacker Team (who have already been selling their software to dictators and war criminals), and working with the US government, and leasing their products to the FBI/CIA/DEA/IRS, and so on. And they see Coinbase slowly turn in to the very thing they got a career in crypto to try to help combat.

Not surprised 5% of their workforce have taken the opportunity to leave. I imagine that if unemployment wasn't at its highest in 80 years, that 5% figure would be far higher.
legendary
Activity: 3038
Merit: 2162
Frankly, we don't know the exact situation at Coinbase and what caused this decision. It's one thing if there's a lot of political debates that distract employees from work and cause tension, but this could have also be done to silence any criticism and disagreement over the company's actions. If in the future Coinbase will get caught providing their services to some dictators, rogue nations, war criminals, etc. - this no-politics rule can be used to prevent employees from protesting.
hero member
Activity: 2702
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Nothing lasts forever
So a few weeks ago Brian Armstrong, CEO of CoinBase put out a "no politics at work memo"
If you did not like it you could take a 4 to 6 month buyout and leave. As of now it looks like 60+ people or 5% +/- a bit of their workforce took it.

I think it's good. Work is for work, politics is for the bar after work so to speak.

But, it's a slippery slope. After no politics do you ban the Star Wars vs. Star Trek discussions. Ford vs Dodge? IPA vs Dark Beer?

Some articles:
https://www.coindesk.com/coinbase-dan-yoo
https://arstechnica.com/cars/2020/10/sixty-coinbase-employees-take-buyout-offer-over-no-politics-rule/

-Dave

Wooh , so people are actually accepting that they would rather prefer talking about politics while at work.
This is new to me. I have seen people talking about politics while at work but if such a situation would occur then they would rather keep shut and work.
People come to work so that they could earn money and fulfill their expense to have a good living but these people seem to have a different perspective I guess.
It's a good thing that coinbase did and this shows that their company believes more towards productiveness.
full member
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That was a very good idea! I agree that memo politics should stay away from the workplace, especially in a country that was divided by politics But I think some Americans don't buy that idea because Americans are always exercising their freedom in all aspects, thats why I believe it's a big issue to them politics is already hot in the U.S and the division between the American voters are widening so I think thats the reason.
legendary
Activity: 2268
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At least the company is honest, what the company wants is just unity, no politics could promote a harmonious working environment as everyone agrees with each other's opinion
I can think of no more boring environment than one in where everyone agrees with everyone else all the time. What's the point of discussing anything if everyone is always in complete agreement? Disagreement is the only reason that anything changes, develops, or moves forward.

And don't be fooled in to thinking this is Coinbase trying to promote a "harmonious work environment" or whatever other nonsense slogan they've paid the guys in PR to spin up. This is Coinbase wanting to remain neutral because if they take a political stance, then it may alienate all the people on the opposite side of that political stance, and then they will look for a different exchange to use. Coinbase care about one thing and one thing only - their profits.

An interesting way for a company to get rid of those who don't want to play as a team - or in this case it might be better to say those who don't share the same political opinions.
It goes the other way as well. Employees who are getting fed up of Coinbase's very dubious ethics and wanted to move on have just been handed a perfect reason to quit - 6 months full pay.
legendary
Activity: 2814
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If those employees resigned because of the new rule, they weren't right for the company in the first place. I don't think the firm will miss them at all. I'm surprised though that so many of them took action.
Personally I wouldn't talk politics especially at work anyway. It's just not the right place for imposing your views.

Maybe they were thinking of leaving and this gave them the opportunity to get paid for a few months forward and be able to look for a new job. It's not allways have to be about politics. If you knew there's some change coming in your life like you were planning to take a trip or move abroad, your CEO just gave you a green light plus some money for the road.
newbie
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Coinbase staff under 3 years got 4 months notice, over 3 years they got 6 months pay. Coinbase also gave 6 months healthcare and allowed them to maintain the 7 years to exercise share options (nice as they are looking to list, probably on Nasdaq). I would imagine there are a few staff in the 60 who simply saw this as a nice time to take a paid sabbatical.
legendary
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An interesting way for a company to get rid of those who don't want to play as a team - or in this case it might be better to say those who don't share the same political opinions. No matter how they want to position themselves as a company, the fact is that if they want to stay on top and thrive, then they have to choose this or that political option - can one even be neutral in a world where politics ultimately makes all the important moves?

I don't know what the monthly income is at Coinbase, but it doesn't make much sense to me that someone chooses to lose their job at a time when the unemployment rate is almost 8%, but it will probably be much higher during the winter months. For these people, politics is obviously very important as a daily topic in conversations, and they also think that they will find a new job very easily, preferably where they will be able to talk about politics without bothering the employer.
hero member
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If those employees resigned because of the new rule, they weren't right for the company in the first place. I don't think the firm will miss them at all. I'm surprised though that so many of them took action.
At least the company is honest, what the company wants is just unity, no politics could promote a harmonious working environment as everyone agrees with each other's opinion and the only rule to follow is the rules and guidelines of the company.

Personally I wouldn't talk politics especially at work anyway. It's just not the right place for imposing your views.
That's not prohibited in our work, we talk a lot about that, it's not really a bid deal but probably in USA where this site is located could be a big deal and could potentially hard employees relationship.
legendary
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If those employees resigned because of the new rule, they weren't right for the company in the first place. I don't think the firm will miss them at all. I'm surprised though that so many of them took action.
Personally I wouldn't talk politics especially at work anyway. It's just not the right place for imposing your views.
legendary
Activity: 3542
Merit: 1352
The 6 months payout for separation in relation to the "no politics at work" memo is very generous. Some other companies would impose the memo harshly, and would not even think of issuing such a neat package for their employees if they are caught disobeying it. Also, a 6-month payout would be sufficient for an employee to adjust and look for work, without having to think of what to eat for the coming weeks. It's a good imposition of rules honestly, and whichever path employees take they know they are well-compensated and are in good hands.

But the rule "no politics" is quite vague and there's no clear limit what could be categorized as politics. Does discussing politics group from fiction works (e.g. movie or book) also covered by the rule?

Could be, though I guess this is mainly for contemporary politics and the events of the US presidential elections, as the left and the right seem to be going pretty hard at each other no matter the societal setting.
hero member
Activity: 2926
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It was expected that not all of their support team will give them a favor. I believe it was the best decision to take and to avoid conflicts.
Politics is not their job, they can work it outside and talk to it but not make the company get involved.

What CEO did is a fair play for everybody. Let their people choose what is best for them and what could be beneficial. Coinbase can easily make a replacement for these people, and they don't have to worry about these numbers.
jr. member
Activity: 42
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I think that people should be able to talk about what they want to at work, but I also understand the reasoning for making the decision. A 6 month payout is also a pretty good offer and gives a lot of time to find additional employment.
hero member
Activity: 1344
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Yes, I have created this thread about a week ago, Coinbase offers exit package for employees not comfortable with its mission.

So it seems that some Coinbase employees decided to take the exit package after Brian Armstrong announcement earlier. I wonder though what positions are voided, because those who employees who mostly voices their opinion hold a management position. So it's time for Brian to quickly find replacements. And for those employees who decided to move out, probably find another position in crypto exchange. The world they're moving is just small, so I wouldn't be surprised for those ex-Coinbase to find work on some competitor.
sr. member
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I do not think that Fanbase vs. Fanbase is not the same as politics. In my opinion, it is not a slippery slope because banning political discussion will not result to other bans. OP said it best, Politics is for the bar and I do believe because slapping someone in the face with your political beliefs when sober is not the best course of action.
sr. member
Activity: 1554
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It's a good move. There are people who cannot contain their emotion when they start debating and takes matters personally. There are many cases where friends stopped being friends when they supported opposite political camps. Imagine if that's going to happen with workmates?

....But, it's a slippery slope. After no politics do you ban the Star Wars vs. Star Trek discussions. Ford vs Dodge? IPA vs Dark Beer?
I'm more interested what would happen if there are employees who decided to stay but still talks politics in their workplace secretly.

jr. member
Activity: 52
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I was wondering if that would happen. It does seem to be you can leave politics at home and not bring it to work but what do I know!
legendary
Activity: 2576
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Most often, what starts as casual political discussions end up as heated debates and arguments. Politics to me is so divisive. So I don't think it will do more good than harm in the workplace. The workplace is not a place for all these political talks. Moreover, it may decrease productivity. A company and its officers and staff are always better off sharing the same path and mission.

But it is a fair play for Coinbase to offer severance package alongside the memo on its apolitical mission. That's a lot better than just releasing a new directive for everyone to follow.
legendary
Activity: 3500
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So a few weeks ago Brian Armstrong, CEO of CoinBase put out a "no politics at work memo"
If you did not like it you could take a 4 to 6 month buyout and leave. As of now it looks like 60+ people or 5% +/- a bit of their workforce took it.

I think it's good. Work is for work, politics is for the bar after work so to speak.

But, it's a slippery slope. After no politics do you ban the Star Wars vs. Star Trek discussions. Ford vs Dodge? IPA vs Dark Beer?

Some articles:
https://www.coindesk.com/coinbase-dan-yoo
https://arstechnica.com/cars/2020/10/sixty-coinbase-employees-take-buyout-offer-over-no-politics-rule/

-Dave
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