The massive experiment that was ConsenSys 1.0, with its incubated venture projects or "spokes," is now fully in transition into Consensys 2.0 with a greater focus on path to commercial viability and external investment. Yet, the spin out of many of these spokes is being stymied by a lack of a clear decision making protocol and Lubin's own outsized equity ownership in each project.
Despite the media narrative that some ConsenSys employees weren’t diligently seeking results, former employees said a lack of clarity about decision-making power beyond Lubin was a greater hindrance than any lack of motivation. One former ConsenSys employee, who tallied income and asked to stay anonymous, told CoinDesk that revenues from some decimated and rearranged spokes “were positive and growing nicely.” Reassignments started in September, former employees said, and some teams were assured they had plenty of runway just weeks before the layoffs abruptly began. Another former employee, who also asked to stay anonymous, told CoinDesk he was discouraged from critiquing technical solutions because spokes were desperate for clients.