Coinbase reportedly testing app that lets employees rate each other

Yahoo Finance's Akiko Fujita and Brian Cheung discuss reports that Coinbase is testing an app that would allow employees to rate each other.

Video transcript

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BRIAN CHEUNG: Coinbase reportedly testing an app asking employees to rate each other. After meetings and other interactions, employees are to input a review of their peers on how well they exemplify the crypto firm's cultural principles. All of this according to the information originally reported by them. You know, apparently some of the core values that are part of this assessment are communication and positive energy, both of which, I think, by the way, I would score extremely high on.

AKIKO FUJITA: Clear communication. Not just communication.

BRIAN CHEUNG: What are you suggesting?

AKIKO FUJITA: Efficient execution. Act like an owner. Let's talk about this app, though, right.

BRIAN CHEUNG: OK, let's talk about it.

AKIKO FUJITA: Because it's Dot Collector. This is, of course, as Brian said, according to the information. This is an app that's reportedly already used in places like Bridgewater.

BRIAN CHEUNG: Bridgewater, yep.

AKIKO FUJITA: And essentially, the way that Coinbase is looking at this is-- potentially during a meeting, let's say, you speak up. Well, your colleagues can then rate you based on whether, in fact, you meet those 10, as Coinbase calls it, cultural tenants. Are you-- do you exemplify what the company represents?

BRIAN CHEUNG: Well, see, here's the thing, though, right. All of this is kind of under the umbrella of radical transparency, something that Netflix has also incorporated into their corporate culture, although this type of rating system might not be necessarily the same. It's also important to note, though, that according to the information at least, it's not like these ratings will be seen by other coworkers. It's just for yourself. But at the same time, you do wonder if this is kind of a form of social engineering. Because is it really transparent if pressure cooker environments like this are forcing you to act a certain way in meetings or when you're walking down the hallways.

I mean, I would rather people be themselves at work, you know, for all their benefits and flaws.

AKIKO FUJITA: However that's interpreted by the company, right. I think this tweet from Anne Berry, who, of course, is a guest on our show, is an interesting one. And I think a lot of people can relate to it. "Even more reason why no one will concentrate or engage as humans during meetings." Because you just want to be yourself, and yet you're probably going to have these 10 things in front of you in your head, thinking, am I going by this checklist?

BRIAN CHEUNG: And that's exactly-- like, if we have MBA talk in all of our meetings, I mean, that would be horrible. I mean, I don't want to sit in a meeting for an hour and talk about synergies and, you know, Michael Porter's Five Forces. But people will be putting up a front if they are knowing that people are at the desk going, eh, five stars for you, or zero stars for you. By the way, there's "Black Mirror" and "Community" episodes about this. But Akiko, I will give you five stars across the board.

AKIKO FUJITA: I want to get five stars for positive energy. I think we both get five stars.

BRIAN CHEUNG: Well, I forgot about that category. Maybe you'll get [INAUDIBLE].