""My neighbors think I'm under house arrest," observes Arjun Sethi. It's not hard to see why. On the driveway of Sethi's comfortable Menlo Park home, located a few miles from Stanford University, sits a black Cybertruck that rarely leaves. Meanwhile, various figures stream in and out of a wide-open garage anchored by a table littered with electronics. Inside, there are no pictures on the walls and the domicile's only personality is supplied by a large German shepherd patrolling the backyard."
"Sethi has brought his idiosyncrasies to Kraken, where he stepped in as co-CEO last fall. Despite the "co" title, everyone with whom I spoke made it clear Sethi is calling all the shots and, according to one former exec, is running the company very much like a venture capital firm. This includes eschewing team-building exercises and pep talks in favor of detached, data-driven decision-making and relying heavily on members of his own network-sometimes at the expense of Kraken's own employees."
A company preparing to go public tapped Arjun Sethi, co-founder of Tribe Capital, to step in as co‑CEO of Kraken. Sethi moved into the top executive role last fall and is effectively the sole decision-maker. Sethi lives an idiosyncratic, low-profile lifestyle in Menlo Park, including a rarely-used Cybertruck and a garage filled with electronics. He runs Kraken with a venture-capital mindset, favoring detached, data-driven decisions and heavy reliance on members of his own network. Former executives report falling morale and express concern about a potential conflict of interest because Sethi remains chairman of Tribe Capital. Tribe and Sethi also participated in a $500 million funding round.
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