When Silicon Valley Stopped Trying to Save the World

In the meantime, the reaction to [Coinbase CEO Brian] Armstrong’s new corporate policy was swift and severe. Former Twitter CEO Dick Costolo was especially fired up: “Me-first capitalists who think you can separate society from business are going to be the first people lined up against the wall and shot in the revolution,” he posted. (Costolo could not be reached for comment on this story.) The social media company’s co-founder, and another of its former CEOs, Jack Dorsey, also chimed in, implying that by not acknowledging the “related societal issues” faced by Coinbase’s customers, the company and its leader were leaving “people behind.”

Advertisement

Another tech insider, entrepreneur Aaron White, tweeted that Armstrong’s statement struck him as “isolationist fantasy” and that by taking an apolitical stance, the CEO was “effectively guaranteeing” he would land on the wrong side of history on “absolutely every issue.”

As Shaun Maguire—who was a partner at GV, Google’s investment wing, from 2016 until 2019—explains: “The culture of Silicon Valley when Brian did that was dominated by Big Tech, and if you go and look at the political donations they were making, it was skewed far left. Even people in the center were afraid to talk four years ago.”

Four years later, though, Brian Armstrong looks more prophetic than blasphemous.

Ed Morrissey

This essay is well worth reading, especially to put Coinbase in its proper prophetic position. I had assumed that Basecamp was the first tech company to put an end to political activism, but Coinbase's Armstrong preceded Basecamp by several months -- and right in the heat of the George Floyd riots and the presidential campaign. That took a lot of guts, but as Armstrong and Basecamp's leadership both tell TFP, it's paid off. 

Join the conversation as a VIP Member

Trending on HotAir Videos

Advertisement
Advertisement
Advertisement