Lubin Won’t Rule Out Layoffs Amid ‘Refocusing’ at ConsenSys
Strategic change is taking place at ConsenSys, an innovative venture studio.
In an interview with CoinDesk on Tuesday, consensus founder Joseph Lubin said, "Focus on priorities." More rigorously, more structure, more sustainability, and greater accountability. "
In an e-mail to approximately 1,200 employees at the Venture Studio Friday night, Lubin presented a vision for "ConsenSys 2.0."
After four years of internal funding, ConsenSys has grown rapidly through Brooklyn's major hubs and global outposts. At present, ConsenSys has more than 50 venture companies, and recent investments include shares in Crypto Trading Platform ErisX with large companies such as Fidelity and Nasdaq.
However, the price of ethers (ETH) is on the decline of around $ 100, above the high of $ 1,400 earlier this year. (Ether co-founder Lubin says he has a large ETH.) In recent weeks, other start-ups have referred to the cryptographic bear market for major layoffs and shrinks, a decline that has led to the aftermath of the market boom this year The decline was often slowed down.
Asked about the temporary layoffs caused by the announced reforms, Lubin told CoinDesk:
"We are seeing a variety of situations, some of which will shrink and some will grow, and I do not want to talk specifically about this."
Lubin was previously "sufficient for a great project." On the other hand, ConsenSys 2.0 will change: "We will focus more on different business lines for accountability, including financial sustainability," CoinDesk said.
As the letter explains:
"We will sooner or later declare and dismantle projects as" learning successes ", enabling them to spread elements such as technology, technicians and entrepreneurs into the potential sea and reconstruct them into other, more experienced projects "
"We admit that we are in a new regime," Rubin said.
Lubin says the company has had much more interaction with outside investors over the past year to get funding opportunities for ConsenSys-supported ventures. The drive will continue.
"One goal is to ensure that Consensys and its projects do not depend on the price of these value tokens – fundamentally they are all thriving businesses," Lubin said.
As the public opinion has prolonged and the calculus of many players in the crypto space has changed, Friday's letter shows how a well-known company is adapting to the new reality. Lubin emphasizes that the goals of the big picture are the same, but that ConsenSys should evolve to long-term success.
"In the past, we focused on doing great things, and now we focus on making practical, successful businesses in the real business ecosystem."
"The block chain is changing very real, it's about the maturity of the company."
Photos of Michael del Castillo
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