Coinbase Draws Inspiration From Ray Dalio And Asks Employees To Rate Each Other

Coinbase Draws Inspiration From Ray Dalio And Asks Employees To Rate Each Other

Crypto exchange Coinbase Global Inc COIN/USD is reportedly testing out a management ethos called “radical transparency” that has been employed by Ray Dalio’s Bridgewater Associates.

What Happened: A Monday report from The Information, first seen on Insider, details how Coinbase has been asking employees to rate each other after interactions in a trial of the Dot Collector app.

Two people with direct knowledge of the matter said that the app lets Coinbase employees grade each other with a thumbs up, thumbs down, or a neutral rating based on the company’s core values.

These core values include “clear communication” and “positive energy,” the Information’s sources said.

Coinbase’s employees can only see their own rating on the app’s interface and not how their colleagues fared on the overall rating scale.

See Also: Coinbase Plans To Slow Hiring Amid Crypto Market Downturn

The Dot Collector app has reportedly been in use by Coinbase’s HR and IT teams since the first quarter, but its use dates back to 2021 when it was first launched by renowned investor Ray Dalio.

The app is said to have been in use at Bridgewater for a longer period of time. The firm supposedly records almost every meeting and even organizes “public hangings” to critically evaluate an employee’s performance in front of their colleagues.

Dalio was in attendance at the World Economic Forum in Davos this week. Speaking to CNBC, he said that “cash is still trash” and confirmed that he still owns a small amount of Bitcoin BTC/USD.

Price Action: According to data from Benzinga Pro, Coinbase shares traded 0.67% higher in the after-market session.

Posted In: Bridgewater AssociatesCrypto ExchangesRay DalioWork CultureCryptocurrencyNewsMarketsTechGeneral