Elliot had seen and read it all before. I thought I had, too, but this response was a first for me. For the most part, m

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e hives are regularly traded locally and internationally, allowing the rapid spread of diseases and parasites, such as deformed wing virus and Varroa mite. These pathogens can affect wild bumblebee populations and spread between wild bee species when they visit the same flower.

Enable belonging for everyone: We work to create an environment where everyone is welcome and can do their best work, regardless of background, sexual orientation, race, gender, age, etc.

Elliot had seen and read it all before. I thought I had, too, but this response was a first for me. For the most part, my most memorable and fulfilling encounters with gay men in Cape Town would end up being with gay Black men. I didn’t cut off everyone else the way Donald and his Zimbabwean friends had, but when I approached gay White men, I proceeded with extreme caution, if I proceeded at all.

In short, I want Coinbase to be laser focused on achieving its mission, because I believe that this is the way that we can have the biggest impact on the world. We will do this by playing as a championship team, focus on building, and being transparent about what our mission is and isn’t.

Non-profit work: We will do some work here with our Pledge 1% program and GiveCrypto.org, but this is about 1% of our efforts. We are a for-profit business. When we make profit, we can use that to hire more great people, and build even more. We shouldn’t ever shy away from making profit, because with more resources we can have a greater impact on the world.

Everyone is asking the question about how companies should engage in broader societal issues during these difficult times, while keeping their teams united and focused on the mission. Coinbase has had its own challenges here, including employee walkouts. I decided to share publicly how I’m addressing this in case it helps others navigate a path through these challenging times.

There have been a lot of difficult events in the world this year: a global pandemic, shelter in place, social unrest, widespread protests and riots, and west coast wildfires. On top of that we have a contentious U.S. election on the horizon.

Fair talent practices: We work to reduce unconscious bias in interviews, using things like structured interviews, and ensure fair practices in how we pay and promote. We have a pay for performance culture, which means that your rewards and promotions are linked to your overall contribution to the mission and company goals.

Through this lens, we start to have a glimpse of a solution. A championship team wants to win, and every teammate is willing to make sacrifices to achieve that. They have each other’s back, and focus relentlessly on the long term goal, avoiding distractions.

There are many places that a company can choose to allocate its limited time and resources. There is never enough time to do everything, so companies need to choose what change they want to see in the world and focus there. It can take decades to move the needle on large global challenges.

Policy decisions: If there is a bill introduced around crypto, we may engage here, but we normally wouldn’t engage in policy decisions around healthcare or education for example.

Source amazing talent: We create job opportunities for top people, including those from underrepresented backgrounds who don’t have equal access to opportunities, with things like diverse slates (Rooney rule) on senior hires, and casting a wide net to find top talent.

Sustained high performance: As compared to a family, where everyone is included regardless of performance, a championship team makes a concerted effort to raise the bar on talent, including changing out team members when needed.

Focus on what unites us, not what divides us: We help create a sense of cohesion and unity, by focusing on what we have in common, not where we disagree, especially when it’s unrelated to our work.

At Coinbase, we say that we are focused on building. What does this mean? It means we are going to focus on being the best company we can be, and making progress toward our mission, as compared to broader societal issues.