Coinbase: By the grace of bitcoin Armstrong, billionaire

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Brian Armstrong, Coinbase Co-Founder and CEO, in December 2017.Michael Short / Bloomberg

Brian Armstrong, founder and CEO of Coinbase, A digital wallet to store bitcoins, He is not just the latest newcomer to the Billionaires Club – he is also a rising tech star. Armstrong (38 years) gives Markey Zuckerberg a breeze: a bearded and visionary image of young prodigy with a mission that goes beyond business and enters the Customs Revolution. Like Facebook’s chief executive, he is willing to radically change a habitual habit, using money in his case, giving it a still unfathomable dimension.

Coinbase, the largest San Francisco-based cryptocurrency trading platform to be known to the public, And Armstrong will be among the biggest beneficiaries: the value of their participation is estimated at between 7,000 and 15,000 million dollars (between 5,800 and 12,450 million euros), depending on the level of virtual currency sales, upwards.

A meteorological career for the company, was created in 2012, and for its co-founder, a Bachelor of Economics from Specialized Rice University who is leading a revolution in a field, of cryptocurrency, still suspected by many Seen with, but for whom they include more and more people from American congressmen to big companies like Tesla.

No data of his life

Armstrong has developed powerful leadership in record time. Little is known about his life, except for his previous route via AirBnB, not even your thoughts on your birthplace or the world around you. Because outside of bitcoin and, above all, your company, nothing seems to attract your attention. Therefore, it is not surprising that one of the arguments from employees working with them is that they focus on the company’s goals — and create a buzz on the network to contain any social concerns. Huh. Where will your sermons develop, if not in them.

Last September, in an exceptionally politically one-year hiatus – when protests against racial injustice had barely ended, and on the eve of a decisive presidential election – Armstrong published a post that appeared in a messenger manifesto. Was also and a roadmap for its 1,420 employees. .

The slogan was unacceptable: nothing to support political or social causes; Whoever disagrees, better leave the ship. About 60 workers accepted the incentive, with salaries equal to four to six months’ pay, based on seniority, and signed the settlement. “Life is too short to work in a company where you don’t feel comfortable,” he personally encouraged her by email.

In a publication that created an uproar and in a message that he later addressed to employees, Armstrong aligned with activism in Silicon Valley majors for sexual advances (Google), almost progressive references against racial discrimination (Facebook) Formed in form. Or other compelling reasons.

Against social participation

Therefore, unlike many other companies, who encourage and even invite their workers to active participation – for example, the great business leaders in New York, who voted for about 100,000 employees in the next mayoral elections Encouraged for – Any interest outside the business hinders success efforts, keeping in mind all social concerns that Armstrong has. Although I believe that these efforts [el apoyo a causas sociales] They are well-intentioned, “he wrote to heal in health,” that they have the ability to destroy a lot of value in most companies, because they are distracted and because of their divisive nature.

Armsong’s social resentment appears to have its origins in an embarrassing incident in June, during a company conference when the chief executive of Coinbase would have refused to publicly pronounce in favor of the Black Lives Matter movement of employees. According, anonymously, the Business Portal’s business cited by (other sources, however, indicated their unequivocal support on Twitter for mobilization).

Last October, tennis player and investor Serena Williams removed all mentions about Coinbase from the website of her venture capital firm Serena Ventures, according to the portal above.

So, while some Armstrongs added their noses to finance, a management model that was destined to set a precedent, for Silicon Valley — an example of greater generosity, at least ideological — with him being a prudent leader- Also clumsy and myopic in his efforts. Ignore the myriad demands in progress. But that Armstrong School will do, no doubt, both in management and theory. That some of his employees consider going back to the Holocaust.