Coinbase Controversy: How to Stay Mission Focused in Times of Turmoil | Ep. 93

CG_Ep_93_YT

Social unrest, widespread protests and riots, and a global pandemic. These are just a few of the crises that we are dealing with at present. When everything seems to be in a state of total unrest, what are the steps to take to maintain the equilibrium within your business?

Today’s podcast explores the stance of Coinbase, an online platform that buys, sells, and trades crypto currency. I will point out how Coinbase has maintained a mission-focused outlook despite the current situation of the society. 

Specifically, we will go over a blog post from Brian Armstrong, the co-founder and CEO of Coinbase and use it to answer the question: How should companies engage in broader societal issues while keeping their teams united and focused on the issue?

If you or those around you are struggling to maintain a sturdy footing during these times, this podcast is perfect for you. 

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What’s Discussed in This Episode:

  1. Starting from the roots: Determining the purpose of a business [03:26]
  2. Responsibilities of the business to its stakeholders [06:06]
    • Benefits for the customers [06:24]
    • What the employees are entitled to [06:54]
    • Responsibilities towards the industry and society [07:07]
  3. Foundations of a sturdy business [08:30]
    • Compelling and clear mission [08:47]
    • Cultivate a unique company culture [09:38]
  4. Notes from Coinbase’s company culture [11:16] 
  5. What do employees want from work? [17:58]
  6. Let your company be a safe space for employees [19:03]
  7. Do not compromise company culture for the wrong people [21:02]
  8. Determine your company’s singular focus [21:50]
    • Pinpoint and work on what you can improve [22:45]
  9. Know when to and when not to involve in societal issues unrelated to work [23:30]
  10. Glorious Freedom: Do what you want to do [27:17]
  11. The cost of involving in controversial societal issues [28:05]
  12. What are the next steps for a construction company executive? [33:18]

Resources:

Read the referenced Coinbase blog 

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in! 

Podcast Reviews

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Malard

How to Win the Battle Against Silos | Ep 19

Pat, Glad you enjoyed it. I appreciate the feedback. I'll have some more episodes in the same vein, coming soon. Eric

How to Win the Battle Against Silos | Ep 19

Eric, really enjoyed this podcast. Extreme Leadership is one of my favorite business books. Nice to see that you are incorporating some of their leadership strategies into your podcasts.

Connect with me!

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