Quit Being a Cynic at Work. It’s Holding You Back. - Kanebridge News
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Quit Being a Cynic at Work. It’s Holding You Back.

There are ways to fight the tendency to see the worst in everyone

By RACHEL FEINTZEIG
Mon, Jun 17, 2024 3:35pmGrey Clock 4 min

We don’t want to be friends with our co-workers . We don’t want to help out with that project. We don’t trust the CEO…or our boss…or that guy in accounting.

Have we taken our cynicism at work too far?

In some ways, our bad attitude makes sense. Many of us made work our church, only to end up laid off , burned out or underpaid. Now we check out, do less, gossip and snark.

It isn’t getting us anywhere good, according to Jamil Zaki , a Stanford University psychology professor who runs the school’s social neuroscience lab.

“Cynicism, if it were a pill, would really be a poison,” he says.

Zaki has spent years researching sunny concepts such as empathy and compassion. One of his studies, for example, found that giving away money activates a similar part of the brain as eating chocolate. His forthcoming book, “Hope for Cynics,” explores the rise of our darker sides, our belief that other people are selfish, greedy and dishonest.

Betrayed once, we practice what Zaki calls “pre-disappointment,” always assuming others will let us down. The mindset feels productive and cunning, like we’ll be able to protect ourselves. But Zaki says it can actually stunt our careers in the long run, and hurt our mental and physical health.

“By never trusting, cynics never lose,” he writes. “They also never win.”

He assures that you don’t have to become the company cheerleader, or even an optimist, to grow your faith in other people. You do have to take a chance on them, examining your own assumptions and suspending your conviction that you already know how this is going to turn out (not well).

While the approach might initially seem blasphemous to the more negative, sarcastic and skeptical among us—like, say, me—anyone can become less cynical , he says.

You might even find you like it.

How we got here

Once upon a time, Americans were less cynical, Zaki says. A longstanding survey from research organisation NORC at the University of Chicago, which has examined American attitudes since 1972, shows we used to trust each other more. Around the middle of the last century, many hummed along on the rosy glow of plum benefits, robust job security and the knowledge that the chief executive was making, say, 20 times a worker’s pay, instead of 200.

It isn’t that we never complained about work, but Zaki says we repaid our companies’ loyalty with commitment, as part of an unspoken covenant.

Today, that employee-employer pact can feel like a relic of a bygone era. Workers have swapped pensions and equity in their companies for more meagre benefits that put the risk and onus on individuals. Instead of reporting to paternalistic employers, many people now operate under tenuous contracts and gig work.

Some of us work from home in isolation or spend lonely days in the office trapped on back-to-back video calls. There’s less chitchat, less interaction.

“We don’t like people when they’re abstracted,” Zaki says, “but we love people who we actually know.”

Zaki understands why, given all this, we might scoff at the notion that our company is a family, or roll our eyes at the prospect of joining in forced fun at the office happy hour.

Sometimes, I suspect, we also adopt a toughness because we don’t want to look like we’re trying too hard, only to fail or be rejected. Maybe it stems from perfectionism , or anxiety , or insecurity after being exposed to everyone else’s highlight reel on social media for the past 15 years.

Fighting our own worst tendencies

It might seem like all the office snakes are scaling the ladder, but Zaki says studies show cynics’ earnings and leadership potential level off with time. To do good work and attain success, you have to build alliances and share information. Translation: You have to trust someone.

Cynics are prone to poor health, from depression to heart disease, he says, adding that at an organizational level, cynicism can lead to pervasive backstabbing, higher turnover and even corporate corruption.

Cynicism is also a self-fulfilling prophecy, he says. People often mirror how we treat them. Micromanage your team—surveilling them and wresting away their ability to make decisions—and they’ll become the slackers you think they are, doing the bare minimum and buying mouse jigglers to mask time away from their home computers.

“Cynics tell a story full of villains and end up living in it,” he writes.

Resisting cynicism’s pull starts with being open-minded. Examine the data of your life like a scientist would, he says, instead of jumping to conclusions, positive or negative. Think everyone at your job is out for themselves? Ask 10 colleagues for a favour, and see if anyone agrees to help. Convinced every conversation with a co-worker will be painful? Spend a day rating your interactions with them on a scale from 1 to 10.

Challenging your assumptions will leave you pleasantly surprised, Zaki promises, because people often rise to the occasion when we let them. You can start by doling out what you hope to receive. Try engaging in “positive gossip,” speaking highly of others. Take a leap of faith in someone, and do it obviously.

“I trust you,” a manager might say to her direct report. “I really think you can do this.”

Calibrating our hope

Could all this make us too soft? Rejecting cynicism doesn’t mean you can’t hold workers to high standards, Zaki says. Just don’t pit them against each other, with practices like stack rankings, where collaboration is discouraged as workers try to claw above each other on a scoreboard.

Your humor can still be irreverent, even biting, he adds, but jokes should ultimately bring people together or improve something.

“Snark, in the absence of any hope, kind of curdles,” he says.

And don’t be blindly optimistic, he adds. If leadership isn’t giving you any reason to have faith in them, don’t. Find another group to trust—maybe your small team or a union. Band together to provide a buffer to the daily stress of working in your organisation, or enact change by fighting for something better.

“We often underestimate how much influence we have,” he says. “Own that power.”



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Selloff in bitcoin and other digital tokens hits crypto-treasury companies.

By GREGORY ZUCKERMAN AND VICKY GE HUANG
Mon, Nov 10, 2025 3 min

The hottest crypto trade has turned cold. Some investors are saying “told you so,” while others are doubling down.

It was the move to make for much of the year: Sell shares or borrow money, then plough the cash into bitcoin, ether and other cryptocurrencies. Investors bid up shares of these “crypto-treasury” companies, seeing them as a way to turbocharge wagers on the volatile crypto market.

Michael Saylor  pioneered the move in 2020 when he transformed a tiny software company, then called MicroStrategy , into a bitcoin whale now known as Strategy. But with bitcoin and ether prices now tumbling, so are shares in Strategy and its copycats. Strategy was worth around $128 billion at its peak in July; it is now worth about $70 billion.

The selloff is hitting big-name investors, including Peter Thiel, the famed venture capitalist who has backed multiple crypto-treasury companies, as well as individuals who followed evangelists into these stocks.

Saylor, for his part, has remained characteristically bullish, taking to social media to declare that bitcoin is on sale. Sceptics have been anticipating the pullback, given that crypto treasuries often trade at a premium to the underlying value of the tokens they hold.

“The whole concept makes no sense to me. You are just paying $2 for a one-dollar bill,” said Brent Donnelly, president of Spectra Markets. “Eventually those premiums will compress.”

When they first appeared, crypto-treasury companies also gave institutional investors who previously couldn’t easily access crypto a way to invest. Crypto exchange-traded funds that became available over the past two years now offer the same solution.

BitMine Immersion Technologies , a big ether-treasury company backed by Thiel and run by veteran Wall Street strategist Tom Lee , is down more than 30% over the past month.

ETHZilla , which transformed itself from a biotech company to an ether treasury and counts Thiel as an investor, is down 23% in a month.

Crypto prices rallied for much of the year, driven by the crypto-friendly Trump administration. The frenzy around crypto treasuries further boosted token prices. But the bullish run abruptly ended on Oct. 10, when President Trump’s surprise tariff announcement against China triggered a selloff.

A record-long government shutdown and uncertainty surrounding Federal Reserve monetary policy also have weighed on prices.

Bitcoin prices have fallen 15% in the past month. Strategy is off 26% over that same period, while Matthew Tuttle’s related ETF—MSTU—which aims for a return that is twice that of Strategy, has fallen 50%.

“Digital asset treasury companies are basically leveraged crypto assets, so when crypto falls, they will fall more,” Tuttle said. “Bitcoin has shown that it’s not going anywhere and that you get rewarded for buying the dips.”

At least one big-name investor is adjusting his portfolio after the tumble of these shares. Jim Chanos , who closed his hedge funds in 2023 but still trades his own money and advises clients, had been shorting Strategy and buying bitcoin, arguing that it made little sense for investors to pay up for Saylor’s company when they can buy bitcoin on their own. On Friday, he told clients it was time to unwind that trade.

Crypto-treasury stocks remain overpriced, he said in an interview on Sunday, partly because their shares retain a higher value than the crypto these companies hold, but the levels are no longer exorbitant. “The thesis has largely played out,” he wrote to clients.

Many of the companies that raised cash to buy cryptocurrencies are unlikely to face short-term crises as long as their crypto holdings retain value. Some have raised so much money that they are still sitting on a lot of cash they can use to buy crypto at lower prices or even acquire rivals.

But companies facing losses will find it challenging to sell new shares to buy more cryptocurrencies, analysts say, potentially putting pressure on crypto prices while raising questions about the business models of these companies.

“A lot of them are stuck,” said Matt Cole, the chief executive officer of Strive, a bitcoin-treasury company. Strive raised money earlier this year to buy bitcoin at an average price more than 10% above its current level.

Strive’s shares have tumbled 28% in the past month. He said Strive is well-positioned to “ride out the volatility” because it recently raised money with preferred shares instead of debt.

Cole Grinde, a 29-year-old investor in Seattle, purchased about $100,000 worth of BitMine at about $45 a share when it started stockpiling ether earlier this year. He has lost about $10,000 on the investment so far.

Nonetheless, Grinde, a beverage-industry salesman, says he’s increasing his stake. He sells BitMine options to help offset losses. He attributes his conviction in the company to the growing popularity of the Ethereum blockchain—the network that issues the ether token—and Lee’s influence.

“I think his network and his pizzazz have helped the stock skyrocket since he took over,” he said of Lee, who spent 15 years at JPMorgan Chase, is a managing partner at Fundstrat Global Advisors and a frequent business-television commentator.