Shopify
Shopify ran a Sustainability Fund investing ~$32M per year in carbon removal startups but in 2023 sold the fund's management to climate tech firm Watershed, transferring the commitments rather than maintaining them directly. Critics viewed this as deprioritizing sustainability alongside the company's broader retreat from social initiatives such as its Build Black and Build Native programs.
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Shopify — Environment: MIXED Shopify ran a Sustainability Fund investing ~$32M per year in carbon removal startups but in 2023 sold the fund's management to climate tech firm Watershed, transferring the com… https://reciepts.tech/stance/1282
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See all →CEO Tobi Lütke published an internal memo in April 2025 mandating that teams must prove AI cannot do a task before requesting new human headcount. AI usage added to performance reviews as a mandatory metric. Workforce shrank from 11,600 (Dec 2022) to 8,100 (Dec 2024) through layoffs and attrition. Critics called it a proxy for job elimination; Lütke framed it as a productivity multiplier ("100X the work done").
Shopify removed itself from Canada's flagship tech lobbying coalition in 2022 and has avoided formal partisan endorsements. CEO Tobi Lütke admires Elon Musk and has adopted anti-DEI and AI-efficiency rhetoric, while stopping short of formal political endorsements or donations. Hundreds of Canadian tech leaders condemned Shopify's DEI rollbacks in an open letter signed by 400+ executives in early 2025.