Pros
- The Chairman Yat knows how to work a room and ride a narrative cycle — credit where it's due, the fundraising in 2021 was well-timed and the Web3 brand recognition in Asia is real, even if it was largely a product of being in the right place at the right time - Colleagues are generally sharp — lots of ex-bankers and consultants who produce polished PPT, which at least makes the external optics look credible - Leadership is media-trained and presentable on stage; the company punches above its weight in terms of public visibility relative to actual output - The President seems to be the one person genuinely trying to fix things — though the approach suggests a disconnect from how information actually flows in organizations like this
Cons
- The C-suite is a masterclass in title inflation without accountability: a Chairman who pitches externally but is absent operationally; an "CEO of investment" who functions as neither; a CBO who treats the role as secondary to personal brand-building as an art collector — reportedly among the highest paid despite the thinnest domain relevance to Web3 or the actual business; a COO more interested in deal-making than the operations the title implies, etc. -Overlapping mandates and poorly defined senior titles create a political environment that rewards visibility over output — navigating internal turf wars becomes a core part of the job description, which is a significant tax on anyone trying to actually get things done - No meaningful KPI framework exists at any level — accountability is essentially optional, which predictably filters for mediocrity over time. When there are no consequences for underperformance at the top, the culture it creates downstream is exactly what you'd expect - Have a number of initiatives that appear to be zero-sum or fundamentally conflicting by design — yet the company continues burning time and credibility on them rather than acknowledging sunk cost and moving on. The decision-making framework here is unclear at best, self-serving at worst - The layoffs signaled some awareness of the slacking culture and potentially runway problem — but trimming headcount while leaving an expensive and underperforming C-suite intact is rearranging deck chairs. If there's genuine financial pressure, the accountability should flow upward first