Twitter CEO Jack Dorsey tweeted that he disapproves of Coinbase CEO Brian Armstrong for having such policy decisions that would take his company away from corporate activism, as he is ignoring users’ societal issues.
Armstrong’s Mission to an Apolitical Work Culture
According to an open letter written by Armstrong, he claims that Coinbase had an apolitical culture and the crypto exchange would not engage in "broader societal issues" or “entertain employee discussions about it.”
Policy decisions, non-profit work, broader societal issues, and political causes are amongst the minimal focus terms for Armstrong, which he would like to move away from to have his employees and users stick to the corporate mission. As per his opinion, these issues could potentially destroy a lot of value at most companies, both by being a distraction and by creating internal division.
Jack Dorsey’s Disapproval to Brian Armstrong
Twitter CEO Dorsey responded that by the very act of being a digital currency exchange, Coinbase was already activist by definition and there's no point in showing as if moving away from corporate activism.
After the letter, Armstrong circulated a company-wide memo informing Coinbase employees that if they are dissatisfied with the apolitical policy they could take a generous severance package instead.
The debate between the two comes at a time when tensions in the U.S. are rising over normal levels due to COVID-19, civil unrest, and now a heated U.S presidential election race between incumbent President Donald Trump and former Vice President Joe Biden.