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"Does Coinbase just stand for making a profit? No, we stand for accomplishing the mission and for creating a great place to work." My god, you're a business,
by shruubi 6y ago
"Does Coinbase just stand for making a profit?
No, we stand for accomplishing the mission and for creating a great place to work."
My god, you're a business, you're entire existence is predicated on making a profit, don't delude yourself into thinking you're chasing some higher purpose, if that was truly the case then you'd be offering your services at a loss or giving away your product for free.
- webmaven 6y ago> "Does Coinbase just stand for making a profit? > No, we stand for accomplishing the mission and for creating a great place to work." > My god, you're a business, you're entire existence is predicated on making a profit, don't delude yourself into thinking you're chasing some higher purpose, if that was truly the case then you'd be offering your services at a loss or giving away your product for free. Hey now, there are other options besides "solely driven by profits" and "non-profit solely focused on the mission" For one thing, it is a fiction that public for-profit companies have a fiduciary duty to be monomaniacal profit seeking entities that must do everything legal to achieve that end, and anything illegal where the profit exceeds the risk-adjusted cost of getting caught is at least on the table. Second, there are plenty of structures for encoding specific missions into a company's charter that are binding. I'm kind of curious to see if Coinbase will follow through on the rhetoric and do something such as becoming a b-corp.