Ethereum Co-Founder Anthony Di Iorio Says Safety Concern Has Him Quitting Crypto

Anthony Di Iorio, a co-founder of the Ethereum network, says he’s done with the cryptocurrency world, partially because of personal safety concerns.

Di Iorio, 48, has had a security team since 2017, with someone traveling with or meeting him wherever he goes. In coming weeks, he plans to sell Decentral Inc., and refocus on philanthropy and other ventures not related to crypto. The Canadian expects to sever ties in time with other startups he is involved with, and doesn’t plan on funding any more blockchain projects.

“It’s got a risk profile that I am not too enthused about,” said Di Iorio, who declined to disclose his cryptocurrency holdings or net worth. “I don’t feel necessarily safe in this space. If I was focused on larger problems, I think I’d be safer.”

Back in 2013, Di Iorio co-founded Ethereum, which has become the home of many of the hottest crypto projects, particularly in decentralized finance — which lets people borrow, lend and trade with each other without intermediaries like banks. Ether, the native token of the network, has a market value of about $225 billion.

He made a splash in 2018 when buying the largest and one of the most expensive condos in Canada, paying for it partly with digital money. Di Iorio purchased the three-story penthouse for C$28 million ($22 million) at the St. Regis Residences Toronto, the former Trump International Hotel & Tower in the downtown business district.

In recent years, Di Iorio jumped into venture-capital investing and startup advising. He was also for a time chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth was as high as $1 billion. Ether’s price has more than doubled since then.

Decentral is a Toronto-based innovation hub and software development company focused on decentralized technologies, and the maker of Jaxx, a digital asset wallet that garnered about 1 million customers this year.

Di Iorio said he has talked with a couple of potential investors, and believes the startup will be valued at “hundreds of millions.” He expects to sell the company for fiat, or equity in another company — not crypto.

“I want to diversify to not being a crypto guy, but being a guy tackling complex problems,” Di Iorio said. He is involved in Project Arrow, run by a high-school friend that’s building a zero-emission vehicle. He is also consulting a senator from Paraguay.

“I will incorporate crypto when needed, but a lot of times, it’s not,” he said. “It’s really a small percentage of what the world needs.”

Source: Ethereum Co-Founder Anthony Di Iorio Says Safety Concern Has Him Quitting Crypto – Bloomberg

.

Critics:

Anthony Di Iorio is a Canadian entrepreneur primarily known as a co-founder of Ethereum and an early investor in Bitcoin. Di Iorio is the founder and CEO of the blockchain company Decentral, and the associated Jaxx wallet. He also served as the first chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth at $750 million–$1 billion.

Di Iorio grew up with two older siblings in north Toronto, Ontario. He graduated with a degree in marketing from Ryerson University. Di Iorio began developing websites during the early 1990s, and eventually entered the rental housing market as an investor and landlord in Toronto, Ontario. In 2012 he sold his rental properties in order to invest in Bitcoin, and began to organize companies in the field of cryptocurrency.

He first learned about bitcoin from a podcast called Free Talk Live in 2012. According to The Globe and Mail, he “had an anti-authoritarian streak” and  questioned “the fundamentals of mainstream economics.” Di Iorio bought his first bitcoin the same day for $9.73. He created the Toronto Bitcoin Meetup Group which held its first meeting at a pub in the same year.

It was at this first meeting where he met Vitalik Buterin who went on to be the founder of Bitcoin Magazine and one of the original creators of Ethereum. As the Meetups grew from about eight attendees to hundreds, Di Iorio formed the Bitcoin Alliance of Canada.

References:

Return to Office: Employees Are Quitting Instead of Giving Up Work From Home

A six-minute meeting drove Portia Twidt to quit her job. She’d taken the position as a research compliance specialist in February, enticed by promises of remote work. Then came the prodding to go into the office. Meeting invites piled up.

The final straw came a few weeks ago: the request for an in-person gathering, scheduled for all of 360 seconds. Twidt got dressed, dropped her two kids at daycare, drove to the office, had the brief chat and decided she was done.

“I had just had it,” said Twidt, 33, who lives in Marietta, Georgia.

With the coronavirus pandemic receding for every vaccine that reaches an arm, the push by some employers to get people back into offices is clashing with workers who’ve embraced remote work as the new normal.

While companies from Google to Ford Motor Co. and Citigroup Inc. have promised greater flexibility, many chief executives have publicly extolled the importance of being in offices. Some have lamented the perils of remote work, saying it diminishes collaboration and company culture. JPMorgan Chase & Co.’s Jamie Dimon said at a recent conference that it doesn’t work “for those who want to hustle.”

But legions of employees aren’t so sure. If anything, the past year has proved that lots of work can be done from anywhere, sans lengthy commutes on crowded trains or highways. Some people have moved. Others have lingering worries about the virus and vaccine-hesitant colleagues.

And for Twidt, there’s also the notion that some bosses, particularly those of a generation less familiar to remote work, are eager to regain tight control of their minions.

“They feel like we’re not working if they can’t see us,” she said. “It’s a boomer power-play.”

It’s still early to say how the post-pandemic work environment will look. Only about 28% of U.S. office workers are back at their buildings, according to an index of 10 metro areas compiled by security company Kastle Systems. Many employers are still being lenient with policies as the virus lingers, vaccinations continue to roll out and childcare situations remain erratic.

But as office returns accelerate, some employees may want different options. A May survey of 1,000 U.S. adults showed that 39% would consider quitting if their employers weren’t flexible about remote work. The generational difference is clear: Among millennials and Gen Z, that figure was 49%, according to the poll by Morning Consult on behalf of Bloomberg News.

“High-five to them,” said Sara Sutton, the CEO of FlexJobs, a job-service platform focused on flexible employment. “Remote work and hybrid are here to stay.”

The lack of commutes and cost savings are the top benefits of remote work, according to a FlexJobs survey of 2,100 people released in April. More than a third of the respondents said they save at least $5,000 per year by working remotely.

Jimme Hendrix, a 30-year-old software developer in the Netherlands, quit his job in December as the web-application company he worked for was gearing up to bring employees back to the office in February.

“During Covid I really started to see how much I enjoyed working from home,” Hendrix said.

Now he does freelance work and helps his girlfriend grow her art business. He used to spend two hours each day commuting; now the couple is considering selling their car and instead relying on bikes.

One of the main benefits, he says, is more control over his own time: “I can just do whatever I want around the house, like a quick chore didn’t have to wait until like 8 p.m. anymore, or I can go for a quick walk.”

Of course, not everyone has the flexibility to choose. For the millions of frontline workers who stock the shelves of grocery stores, care for patients in hospitals and nursing homes, or drop off packages at people’s doors, there are scant alternative options to showing up in person.

But among those who can, many are weighing their alternatives, said Anthony Klotz, an associate professor of management at Texas A&M University, who’s researched why people quit jobs. Bosses taking a hard stance should beware, particularly given labor shortages in the economy, he said.

“If you’re a company that thinks everything’s going back to normal, you may be right but it’s pretty risky to hope that’s the case,” he said.

At least some atop the corporate ladder seem to be paying attention. In a Jan. 12 PwC survey of 133 executives, fewer than one in five said they want to go back to pre-pandemic routines. But only 13% were prepared to let go of the office for good.

Alison Green, founder of workplace-advice website Ask a Manager, said she’s been contacted by many people with qualms about going back, citing concerns about unvaccinated colleagues and Covid precautions. Some have said they’re looking for jobs at companies they feel take the virus seriously, or will let them work from anywhere.

Some things are indeed lost with remote work, Green said, like opportunities for collaboration or learning for junior employees. But, she added: “I think we need to have a more nuanced discussion than: hustlers only do well in the office.”

For Sarah-Marie Martin, who lived in Manhattan and worked as a partner at Goldman Sachs Group Inc. when the pandemic struck, the months at home gave her time to redraw the blueprint of her life.

“When you have this existential experience, you have time to step back and think,” Martin said. “In my previous life, I didn’t have time to get super deep and philosophical.”

The mother of five moved her family to the New Jersey shore. And once the push to get back to offices picked up, the idea of commuting hardly seemed alluring. This spring, Martin accepted a fully remote position as chief financial officer of Yumi, a Los Angeles-based maker of baby food.

Gene Garland, 24, unknowingly opened the floodgates to people’s frustrations about office returns. After his employer, an IT company, in April told people they needed to start coming in, two of his close colleagues handed in their resignation letters. Garland, who lives in Hampton, Virginia, tapped out a tweet:

Hundreds of people responded, with many outlining plans, or at least hopes, to leave their own jobs. Garland says he himself has no plans to quit, but empathizes with those who do.

“Working inside of a building really does restrict time a lot more than you think,” he said. “A lot of people are afraid of the cycle where you work and work and work — and then you die.”

Twidt, the compliance specialist in Georgia, had already lined up a new job by the time she handed in her resignation letter: a role at a Washington-based company.

The recruiter that approached her, Twidt said, asked what it would take to get her on board. She replied that she would prefer something 100% remote. Some employees have enjoyed working from home so much that they’d rather quit their jobs than go back to the office full time, a new survey found.

Out of 1,000 US adults polled in May, 39% said they’d consider quitting if their bosses weren’t flexible about them working from home. The Morning Consult survey was first reported by Bloomberg. The survey showed that 49% of the respondents who said they’d consider quitting were millennials and Gen Z — i.e., adults born after 1980.

Many global companies are embracing a hybrid work model as staff start to return to offices post-pandemic. Finance giants, who were known for having a strict work culture, are now adopting more flexible work models. Some have decided to redesign the workplace for more collaboration, and keep solo tasks for remote working. Others plan to cut back on office space entirely.

But some firms, such as JPMorgan, are not won over by the idea of remote work and want to see the majority of their workforce in the office. Jamie Dimon, the company’s CEO, said on May 4 that remote work “does not work for young people” and “those who want to hustle.” Chris Biggs, a partner at the consultancy firm Theta Global Advisors, told Insider that employers need to be “tuned into people’s mental health” as staff return to the office.

“You could do a lot of damage to those who don’t want to go into the office,” he said, adding that employers shouldn’t force people to come into the office.

— With assistance by Sridhar Natarajan

By: and

Source: Return to Office: Employees Are Quitting Instead of Giving Up Work From Home – Bloomberg

.

Critics:

Refusal of work is behavior in which a person refuses regular employment. As actual behavior, with or without a political or philosophical program, it has been practiced by various subcultures and individuals. Radical political positions have openly advocated refusal of work. From within Marxism it has been advocated by Paul Lafargue and the Italian workerist/autonomists (e.g. Antonio Negri, Mario Tronti), the French ultra-left (e.g. Échanges et Mouvement); and within anarchism (especially Bob Black and the post-left anarchy tendency).

In employment law, constructive dismissal, also called constructive discharge or constructive termination, occurs when an employee resigns as a result of the employer creating a hostile work environment. Since the resignation was not truly voluntary, it is, in effect, a termination. For example, when an employer places extraordinary and unreasonable work demands on an employee to obtain their resignation, this can constitute a constructive dismissal.

The exact legal consequences differ between different countries, but generally a constructive dismissal leads to the employee’s obligations ending and the employee acquiring the right to make claims against the employer. The employee may resign over a single serious incident or over a pattern of incidents. Generally, a party seeking relief must have resigned soon after one of the constructive acts.

Notes