Silicon Valley’s Horrible Bosses
In the time between me scheduling this newsletter and its publication, Coinbase:
- Laid off 18 percent of its workforce. Fired employees were given no notice and woke up locked out of their email.
- Ran an ad during the NBA finals mocking tweets saying that crypto is dead. (Bitcoin has fallen 25.32 percent in the past five days.)
If you're a current or former Coinbase employee and you want to get in touch, you can email me at galaxybrain@theatlantic.com or DM me on Twitter for my Signal number.
On Friday, Coinbase CEO Brian Armstrong tweeted through a crisis in his workplace. He was reacting to an , supposedly from Coinbase employees, asking for a vote of no confidence and removal of the cryptocurrency exchange’s chief operating officer, chief product officer, and chief people officer. The petition accused those three leaders of “executing plans and ideas that have led to questionable results and negative value” and laid out eight examples of their bad decision making, including: “The ”; hiring unsustainably while also messily ; poor communication; and instituting a controversial “rate your coworker”
