After more than a year of remote work, crypto investment startup Hivemind has opened a new headquarters in Manhattan’s Flatiron District to facilitate collaboration between employees and to have more enjoyable conversations with clients, investors and founders.
The company was founded in late 2021 by Managing Partner Matt Zhang, the former co-head of structured products trading at Citigroup. Hivemind’s COO is Lee Smallwood, the former COO of markets and securities services at Citi.
In a blog post, Smallwood acknowledged that in-person work might seem like an odd fit for advocates of decentralization, but he believes the hybrid model will strike the right balance between the flexibility of remote work and the benefits of in-person collaboration.
“We saw a glimpse of the benefits of a hybrid model during our 2022 offsites, and the magic that can be created when people are able to see each other face-to-face. We are looking forward to experiencing that on a much more frequent basis,” Smallwood wrote in the blog post. “While we all recognize the fallacy of pre-video conferencing office ‘face time’ culture, the other reality is that it’s hard to replace the connection and energy that comes from being in the same room. In-person meetings and conversations accelerate trust, foster creative approaches to problem-solving and help motivate productivity.”
The office space also serves a business purpose. It will provide a space for the company to meet comfortably and confidentially with clients, investors, portfolio companies and founders.
“Just as is the case for interactions with colleagues, these meetings also benefit from the ability to sit down face to face for a period of time to navigate particularly important or abstract issues,” Smallwood wrote. “And there’s no question that — at least for Hivemind — the limitations of coffee shops, hotels and temporary conference rooms as venues really inhibit our ability to work closely with external stakeholders.”
