Masters of Scale: Rapid Response: Recent Episodes
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Real-time wisdom from business leaders in fast-changing situations — covering the COVID-19 crisis and beyond. These fast, focused interviews with CEOs are the in-the-moment counterpoint to the timeless episodes in the classic Masters of Scale podcast. Hosted by Bob Safian, former editor in chief of Fast Company.
Has Gopuff cracked the code of instant delivery — a field where even Amazon has struggled? Co-founder Yakir Gola talks about the challenge of owning the customer journey from app to warehouse to doorstep, and the reasons why being outside Silicon Valley is giving Gopuff a big advantage as it expands across the United States and around the world. Yakir talks with host Bob Safian about why moving fast is only one piece of the growth puzzle.
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Charity Dean was one of the first public health officials to set the alarm on COVID. When she searched for a tool to forecast future bio threats, she realized that it didn’t exist yet. So she co-founded the Public Health Company, where she uses lessons from her government experiences, but without the same rules or limits. She speaks with Bob Safian about why all companies must be public health companies.
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Gayle Smith is the CEO of the ONE Campaign, the advocacy group founded by U2’s Bono — and last year, she was tapped by the U.S. State Department to coordinate America’s COVID response and vaccine distribution globally. Her experience both inside and outside government gives her a distinctive outlook on how business can and should help on humanitarian issues, from Ukraine dislocation to climate change. She also shares lessons about effective advocacy: tactics pioneered by ONE that can be useful to any organization trying to generate impact.
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Amid pandemic disruption, Chief turned a small, NYC-based club for women executives into a national phenomenon with more than 12,000 members. Co-founder and CEO Carolyn Childers joins Rapid Response to share how she and co-founder Lindsay Kaplan managed the unlikely transformation, which recently yielded a $100 million Series B funding round. She reveals how the company leveraged existing tech and their own innovations to build connections, identifying not just a gap in the marketplace but a need for a whole new set of tools to support business leaders.
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Meet Alyona Mysko, the CEO of a B2B startup in Ukraine called Fuelfinance, as she walks us through the lessons she’s learned while leading her company in a war. Her experience — which sometimes requires her and her team to work from bomb shelters during the day — offers lessons for every leader about communication, collaboration, and creativity in crisis. All of Ukraine is running like a start-up now, she says: Each citizen takes the initiative to pick up what needs to be done. Alyona talks about the importance of following a mission in a crisis, and makes a plea to all our listeners to buy from Ukrainian business.
Learn more about Fuelfinance here.
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“Don't let the roadblocks get in the way when there are people who need you desperately.” Eric Friedrichsen, the CEO of Emburse, a B2B software provider, has navigated around risks and financial costs to meet the needs of tech contractors based in Ukraine. Part of that response includes the company’s offer to relocate people and families to Spain, where Emburse’s European headquarters is located. The company’s executives are also personally funding housing costs for colleagues taking refuge in Poland. These choices haven’t come without obstacles for Emburse. But as Friedrichsen explains, the benefits are moral, communal, and even quantifiable for the business.
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Russia’s invasion of Ukraine, and the sanctions that followed, have radically impacted supply chains around the world. Jennifer Bisceglie, CEO of Interos, a risk-management firm focused on supply chains, has seen her company’s risk dashboards light up in new and far-reaching ways. Mary businesses are more exposed than they realize, she says, with tech businesses surprisingly facing some of the highest risk. Driven by this disruption, a more sophisticated supply chain is coming together in real-time. Those who get on board now, she says, will have a competitive advantage in the long run.
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Airbnb’s charitable arm, Airbnb.org, has committed to offer free, temporary housing for up to 100,000 refugees fleeing Ukraine. Airbnb co-founder Joe Gebbia joins Rapid Response to discuss how the company is deploying business tools for humanitarian benefit. He also shares how Airbnb’s platform has become a surprising tool to transfer money directly to individual Ukrainians, already generating $15 million. Along with co-founders Brian Chesky and Nate Blecharczyk, Joe is a fierce believer that companies should be responsible to “participate in the world around us” and the importance, as leaders, to ask: What would make us proud?
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“It’s not about fixing women. It’s about fixing the system,” says Reshma Saujani, the founder of Girls Who Code and Marshall Plan for Moms. As the author of the new book Pay Up: The Future of Women and Work, Reshma calls out corporate feminism and society’s assumption that women have to solve the problems of workplace achievement on their own. She argues that childcare is an economic issue that should be subsidized by employers, and that the discourse around the “future of work” needs to move beyond employees’ return to the workplace. Reshma also takes Silicon Valley to task for not diversifying their tech force.
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Watching the news out of Ukraine, Tokunbo Koiki saw alarming reports of African and Caribbean students struggling because of racism to flee the country. The news both outraged and inspired her to take action — fast. Tokunbo, an entrepreneur and social worker, shares the real-time story of how she linked up with two strangers, Patricia Daley and Korrine Sky, to build a full-fledged aid organization for Black refugees, in a single weekend. Using only the tools and networks at their disposal, Black Women for Black Lives has helped some 1,200 Black students so far with direct assistance in cash and cryptocurrency — and amplified their harrowing stories to the world. This fast-scaling organization is the perfect illustration of how entrepreneurial thinking can mobilize action faster than you think it can.
You can donate to blackwomenforblacklives.org here: https://bit.ly/blackinukraine
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“My big call to action would be to support existing organizations,” says Susy Schöneberg, the founder and head of Flexport.org, the nonprofit arm of the logistics firm Flexport. Schöneberg and her team are organizing complex shipments of relief goods to Ukrainian refugee sites across Eastern Europe; she breaks down how her organization has been safely managing the flow of goods toward displaced refugees and the best way you can get involved — as a citizen or company. She leaves us with a lesson that applies to any crisis: joining together can produce far better results than trying to do it alone.
You can donate to the Flexport.org Fund here: www.flexport.org/donate
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“We have to assume that cyberattacks will happen,” says Bipul Sinha, CEO of the cybersecurity firm Rubrik. He joins Rapid Response to discuss the dramatic escalation of cyberthreats in the wake of Russia’s invasion of Ukraine. Bipul explains how state-sponsored actors and cybercriminals are both heightened threats, and how traditional cybersecurity approaches are adjusting to counter them. He also shares what we can do to protect ourselves — from basic cyber hygiene to recovery strategies.
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Russia’s invasion of Ukraine presents a new level of disruption to an already fragile global trade system. Sara Menker, the CEO of Gro Intelligence, a data research firm with deep insights on global supply and demand, joins Rapid Response for the second time to discuss these disruptions. While her biggest focus is agriculture, Sara’s insights provide a window into how things are shifting across all parts of the economy. She also discusses what we need to understand about Russia’s trade with China and the largely overlooked impacts in the Middle East.
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Tjada D'Oyen McKenna, the CEO of Mercy Corps, an NGO on the front lines of the Ukrainian crisis, provides an inside look on how they’re helping address the needs of refugees. Mercy Corps began scenario planning well in advance of Russia’s aggression, and they’re now deploying food, cash, and social services to those in need. She also cautions about potential negative impacts elsewhere, as troubles in Ukraine pull resources from other struggling populations.
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General Motors’ Gerald Johnson shares the process and progress of trying to accomplish two daunting goals: an all-electric vehicle future, and to become the world’s most inclusive company. One thing that Johnson, the Executive Vice President of manufacturing and sustainability, has learned: “If you're not making mistakes, you're not making progress.” He adds that progress requires us to embrace being uncomfortable — and to learn from it. Johnson, who is a pastor as well, also discusses why he believes work-life integration is more realistic than work-life balance.
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It may appear off-brand for Betterment, a digital investment adviser, to acquire a cryptocurrency investing platform. But CEO Sarah Levy explains that Betterment, positioned around its long-term diversification philosophy, has approached this volatile space with their tried-and-true principles top of mind. “Once we believe that an asset class is here to stay,” she says, “the question is: how do we responsibly incorporate that alongside a traditional investment strategy?” Levy, who became CEO in the midst of the pandemic, offers an intriguing perspective on how new, fast-moving digital finance platforms are shifting the norms of the industry. “We are not saddled with legacy businesses here that prevent us from chasing new dreams.”
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Go to summit.mastersofscale.com to learn how to join a pantheon of scale leaders gathering in San Francisco Oct. 18-20, 2022 at the Masters of Scale Summit. The early confirmed stage program includes the likes of Bill Gates, Tyra Banks, Satya Nadella, Arianna Huffington, Ted Sarandos, Mellody Hobson, and more. The event is uniquely designed for both executives in the room and their teams back home — offering a beautifully filmed, hosted livestream that will empower your team to bring new ideas to life. You can apply to attend in-person as either a general applicant or early-stage leader, as well as purchase livestream packages for your team at summit.mastersofscale.com.
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Ken Frazier, the longtime CEO of pharmaceutical giant Merck, was one of the few Black CEOs at the top of Corporate America. Now as an adviser at General Catalyst and co-founder of the social impact organization OneTen, he’s re-shaping how business addresses racial and health equity. He joins host Bob Safian to discuss crisis adjustment, the positive side of fear, and the importance of vulnerability. Plus, he addresses the rising divisiveness in American culture, and the important role that business can play – by stressing our commonality and emphasizing kindness.
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As the global chip shortage unfolded last year, Qualcomm’s engineers quickly redesigned their products – an effort that tapped into “every possible capacity we could find,” says CEO Cristiano Amon. Their story is a great lesson in how an established company can and must move with the speed of a startup. One key to moving at speed, says Amon: aligning the entire organization around a single strategy. But along with an all-hands effort, he insists, must also come time to rest. “Everything's new, everything's always changing, we have to move fast, but at the end of the day, we also need time for ourselves and our family,” he reminds us.
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With their eyes fixed on what’s next, the Drone Racing League has established a fresh fanbase, previously left untapped by professional sports. President Rachel Jacobson, formerly an NBA executive, refers to this audience as “techsetters” – young, enthusiastic, tech-driven fans who are “invested in what the future looks like.” It’s a new demographic that could have only emerged from the league’s unique positioning that intersects sports, entertainment, and technology. As Rachel says, the companies that aren’t planning for their future demographics of consumers will “age out really quickly.” She spoke with Rapid Response host Bob Safian about diving into future ideas that may first appear unrealistic – and spinning them into realities. The Drone Racing League has successfully secured partnerships with some of the biggest media and commercial organizations in the world, such as NBC, Twitter, T-Mobile, and DraftKings.
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Faced with long odds, how do you keep your team motivated and moving forward? As a leader, Alexis McGill Johnson is focused on building hope. As the president of Planned Parenthood, Johnson is preparing for the U.S. Supreme Court to overturn Roe v. Wade. But in the meantime, she’s modeling a sense of relentlessness for her team – so they can be fearless and unapologetic. Since she took over at Planned Parenthood, she’s faced both internal and external challenges. Something she learned early: "You really need to drive it like you stole it,” she says. “And don't wait for permission to make the transformations that you need to see.” She’s chosen to speak boldly, emphasizing equity and addressing the organization’s legacies of racism head on. The lessons she offers can be focused as a refusal to shy away from disappointments – and impossible dreams.
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Sir Jeremy Farrar is UK’s pre-eminent scientific authority on Covid-19 and the chief executive at the research foundation Wellcome Trust. He joins Rapid Response to discuss the latest learnings of the Omicron variant – and offers a framework for reacting to the uncertainty. Farrar, whose research specializes in infectious diseases, also shares the two most important leadership lessons he’s learned during the pandemic: find time for yourself, and take warnings seriously. “Humanity often finds ways of going through some really bad periods to get to a good place. And I think we're going through a bad period at the moment,” Farrar says.
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“Go for the megatons.” That’s John Doerr’s recommendation for how we need to combat the existential threat of climate change. Doerr, a venture capitalist and author of the new book Speed and Scale, joins host Bob Safian to discuss our decarbonization efforts, what he calls “the greatest economic opportunity of the next century.” The book quantifies the specific societal needs, in six discrete areas, to achieve a carbon-neutral world. John isn’t arguing that we all need to be vegan ascetics, but rather, the need for collective action – and the critical role that business plays in advancing that movement.
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Crate & Barrel CEO Janet Hayes has been on a mission to modernize the home decor company since she took over as CEO in August, 2020. When she first joined the company, stores were closed and the future of retail was uncertain as Covid-19 put in-person experiences to a screeching halt. She’s responded by leaning into digital and sustainability for her brands, and flexibility for her employees. “As soon as I said, ‘It's a flexible workplace, and I'm going to value talent, collaboration, and results over location,’ everybody has been working faster and smarter than ever,” she says.
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From the start of the pandemic, GoFundMe has served as a consistent global outlet for help. Since its inception, the for-profit crowdsourcing platform has facilitated $15 billion in giving through more than 200 million donations. It’s also attracted big names to the platform, including Taylor Swift, the Dalai Lama, and will_i_am. The key to the company’s success? According to CEO Tim Cadogan: "You need great people who are really ambitious in service of the mission.” Cadogan argues that the difference between GoFundMe and other businesses is that GoFundMe is about “people helping each other,” as opposed to commercial transactions. Asking for help, he says, unlocks more possibilities than people realize – a lesson for GoFundMe users, and for businesses overall.
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This past summer, Fidji Simo departed from Facebook – where she stood among the highest-ranking female executives, serving as the head of their app – for the opportunity to become a first-time CEO at Instacart. She replaced founder Apoorva Mehta, who appeared on this show last spring to talk about Instacart’s incredible COVID-fueled growth. Since then, Fidji has emphasized an evolved company mission, diversifying the company’s leadership and focusing on providing the necessary technology to help grocery retailers best serve their customers. As you’ll hear Fidji mention in the episode, she was raised in a French-Sicilian family where food anchored their daily life. “To me, Instacart’s mission resonated deeply, and I saw a very big opportunity.”
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In May 2020, as companies began making promises about how they’d help Black-owned businesses in the wake of George Floyd’s killing, Aurora James launched the 15 Percent Pledge initiative with an Instagram post. Tagging major retailers, she declared that 15% of retail shelf space should belong to Black-owned businesses. And she's helped these companies turn promise into action, unlocking $10 billion in revenue for Black-owned businesses. It's a relatable story for any small business or team: the tactics and strategies that allow one small but dedicated effort to deliver outsized results.
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Eric Schmidt, former CEO of Google, breaks down his deep insights around artificial intelligence on Rapid Response. Schmidt, co-author of the new book "The Age of AI: And Our Human Future," alongside Dr. Henry Kissinger and MIT’s Daniel Huttenlocher, says that we’re entering an unknown era with technology – one that requires extra vigilance to ensure that we amplify the positives and de-amplify the negatives. His advice to businesses: You need to be running as fast as you can toward AI applications. If your competitor gets there first, you'll be in trouble. Schmidt argues that AI will change business, society, and potentially humanity itself. "It's important that our systems not enable the worst of us, but instead promote the best of us,” he says.
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Skepticism and doubt are no strangers to John Foley, the CEO of Peloton. As he says, it’s been part of the company’s DNA “since the first time I pitched the business to an investor back in 2012.” Last year, the company was supercharged by pandemic demand. However, in 2021, the company has faced a slew of new headwinds, from product-safety issues to investor skepticism. In the face of these challenges, Peloton has doubled down on innovation and ambition. Foley doesn’t see skepticism about Peloton as a sign of weakness. He expects it, and learns from it.
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How do you respond when your own users resist your data? That question is top-of-mind for Nielsen CEO David Kenny. For decades, Nielsen has measured ratings and demographics across TV and media – the ultimate designator of success and failure. But as industry norms shift to streaming, Kenny has had to revamp processes and expectations, absorbing heat from traditional customers. As he notes, nostalgia is the opposite of optimism – it assumes that a known past is better than an unknown future. And for Kenny, he’s choosing optimism.
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Since stepping down as Walmart’s president of e-commerce at the beginning of the year, billionaire entrepreneur Marc Lore has had a busy year of big ideas. In the Spring, it was announced that he reached a deal to purchase the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx, alongside Alex Rodriguez. And then last month, he outlined his plans to build a new American city called Telosa, centered around sustainability and inclusion. Lore, who co-founded Jet.com, an e-commerce company that sold to Walmart in 2016, says that he approaches these moonshot ideas in the same manner: by reverting to the fundamentals and naming the mission and values. "VCP: vision, capital, people,” he says. “If you get VCP right, everything else falls in place."
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In the last year, Sarah Hirshland has had to face one daunting issue after another as the CEO of the U.S. Olympic & Paralympic Committee – each of which have required urgent, in-the-moment decisions. Most recently Sarah mandated that U.S. athletes be vaccinated against COVID-19 to participate in the upcoming Beijing winter games. But that’s just the latest of a slew of cultural issues she’s been tasked to act on. She’s faced pandemic disruptions, social action protests, sexual misconduct scandals, mental health stress, and more. Through all of it, Sarah has been motivating her team around an evolving mission to reflect not just where America is as a country today but where it’s going.
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Last year, SolarWinds became the subject of a massive and sophisticated cyberattack, potentially affecting thousands of organizations. CEO Sudhakar Ramakrishna, who joined the company soon after the breach was discovered, speaks with host Bob Safian about how he and the company responded, and how other companies should approach the ever-looming threat of cyber-risk. "There is no such thing as 'I won't be breached because I'm too secure or too smart,’ says Ramakrishna. “You could be breached. And when it happens, be humble. Learn from it, adapt, and act with a sense of urgency."
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To compete against bigger players, you need a special edge. Sridhar Ramaswamy, who led Google’s huge ad business, is now going head-to head against his former employer with an ad-free subscription-based search engine called Neeva. Ramaswamy became disillusioned by Google’s priorities and practices and argues that big platforms – including Facebook and Amazon – have failed to scale responsibly. Sharing inside stories of how big tech makes decisions, and his own experiences with a startup, Ramaswamy offers lessons on growth, monopolistic threats, and why challenging even great companies is necessary right now. “I’m a tech optimist,” he says, “but we need to be conscious of the good and bad.” A renewed focus on responsible tech scaling is right for the businesses and for society.
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Your ability to make quick decisions in the face of a crisis can define your career. That’s been the case for Dr. Mary Schmidt Campbell, president of Spelman College, the all-women's HBCU in Atlanta. In her second appearance on Rapid Response, Dr. Campbell, who recently announced her plan to retire at the end of the academic year, discusses how listening to her community has led to resolving complex conflicts. As was the case at the beginning of the school year when the Spelman faculty threatened a last-minute boycott over COVID uncertainty – a potential crisis which Dr. Campbell was able to quickly defuse. From record fundraising to rising U.S. News ratings for Spelman, Dr. Campbell demonstrates how consistent leadership builds confidence and resilience. “I feel that when we have all of the voices and all of the wisdom from all over our campus involved in these big issues,” Dr. Campbell says, “the solutions are ones that end up being good for everybody.”
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When hard times hit, the show must still go on for all of us. But as Drama League board president and Broadway HD CEO Bonnie Comley explains, even when the lights are dark, critical progress can be made. As Broadway's 41 theaters begin coming back to life in New York City, the three-time Tony Award-winning producer takes us through how the 18-month pandemic closure created an opportunity for the $16 billion industry to reimagine itself. At core are new efforts to expand and broaden the customer base, in part through a fuller embrace of digital engagement. Digital capture and streaming, Comley says, can help welcome new audiences and expand touchpoints for each show's brand in unique ways. “Streaming theater is not a replacement for theater,” she says. “It is an additive.”
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Chris Urmson has had to take a different approach in building his company Aurora, which develops self-driving technology. As opposed to creating and iterating a product with a handful of people, and then building a company around that product, Urmson says he’s had to do the opposite. “Given the scale of the problem we're trying to solve and the complexity and breadth of it, we really had to build the company almost ahead of the product,” he says in this interview with Rapid Response host and editor-at-large Bob Safian. Urmson is determined to transform transportation as it is today – a goal that has and will continue to require a great amount of energy and investment upfront, he says. However, if he’s able to pull it off, “the benefit and impact that we'll have socially and economically will be profound.”
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“You have to preserve your energy because this year has been about pace,” says iconic restaurateur Danny Meyer in his fourth Rapid Response interview. Meyer catches us up on the past seven-plus months of operating in the midst of the pandemic. In the beginning of the summer, when Covid rates were plummeting in New York City, he says he was full of optimism. His restaurants were back to indoor dining, and despite dealing with a limited workforce, “progress is progress.” Then came the Delta variant, leading Meyer to proactively require Covid-19 vaccinations for all staff and guests at his full service restaurants. All of this while overseeing the opening of two new Daily Provision locations and a full-service restaurant in New York City, called Ci Siamo, the three of which had been in development for three years. Meyer also walks us through his February launch of HUGS, a new SPAC that’s led him down a journey of meeting with a wide variety of businesses that share the notion of what he calls enlightened hospitality. As Meyer says, “This year's been a constant test of, can you stick with the progress? Can you win the game, despite getting the setbacks here and there?”
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Hollywood may build stars, but gaming is "the biggest, fastest-growing entertainment medium in the world," says CEO Andrew Wilson of Electronic Arts. That's why businesses from Netflix to Disney to Facebook are eyeing the space, along with creators and startups eager to tap into the entrepreneurial opportunities posed by the still-evolving "metaverse." Wilson, who oversees franchises from Apex Legends to FIFA to The Sims, explains how he's playing in this ever-changing field – and how an industry-wide cultural referendum on harassment keeps him up at night.
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Facing off with the FTC isn't for the timid. But when your mission and your business model are aligned, the hard decisions – about risk, about investment, about priorities – become clearer. Francis deSouza is CEO of Illumina, the world’s dominant maker of gene sequencing technology. After playing a key role in the creation of Covid vaccines, Illumina is trying to acquire a company with a breakthrough cancer screening test, over the FTC's objections. DeSouza offers a personal reflection on the lessons and reality of grappling with regulators, highlighting levers that can help to accelerate scale. What underscores his entrepreneurial efforts is a passion for Illumina’s mission: improving human health by unlocking the power of the genome.
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Even an 118-year-old company needs an entrepreneurial jolt. When Jochen Zeitz took over as CEO of motorcycle maker Harley Davidson in early 2020, he moved quickly to restructure the business – even in the midst of the pandemic's highest uncertainty. That defiance paid off, settling investors and refocusing the company. He's trimmed the product line, set up equity grants for employees including factory workers, and doubled-down on Harley’s brand power. Challenges persist, including ongoing supply chain delays, but Zeitz has his eyes on the road ahead. As a longtime motorcycle rider and a longtime champion of sustainability, he is setting out to square those two passions – and lead the company through an expansive second century.
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"We have to reignite the energy and the fire and the love," says CEO Libby Wadle of J.Crew Group, which launched Madewell Forever this week, a dynamic bet on sustainability. The resale platform, in partnership with ThredUp, is part of a "purpose-led" pivot that Wadle first sparked as head of Madewell. Wadle takes us inside that journey, looking back to J.Crew's heyday – when she ran that brand – and forward to the opportunities that she says more circularity in apparel can unlock. From a visit to a "fair trade" factory in Vietnam to new insights on in-store versus online, Wadle says, "I've never felt more inspired and excited and invigorated."
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"Hate is not a one community issue," says Sonal Shah, president of The Asian American Foundation, a nonprofit launched by business leaders in May, dedicated to addressing discrimination against Asian Americans. In just its first few weeks, TAAF raised $1 billion – and is now grappling with what all start-ups face: how to iterate fast, pivot, lose what's not working, and scale what is working, fast. Sonal, who launched the White House Office of Social Innovation in the Obama Administration, is applying the philosophy of business startups to the new effort, building networks between government, businesses, and other nonprofits to amplify impact.
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Millennials and Gen-Z want different experiences, different content, different opportunities. But catering to those distinct needs wasn't enough, says BuzzFeed co-founder and CEO Jonah Peretti; the digital-media outfit also needed to create a flywheel for value. When the pandemic trimmed tens of millions in revenue, Peretti cut back on costs – but kept the flywheel spinning. By the end of 2020 his team had engineered a rebound, finishing the year with record profitability. Now, the company has announced plans to go public via SPAC at a $1.5 billion valuation. With the acquisitions of HuffPost and Complex Networks, Peretti has shown that his ambitions are just beginning.
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The art of promotion can advance any enterprise, as Scott Harrison demonstrated even during the pandemic. As founder and CEO of Charity Water, Scott faced fundraising trouble a year ago but now the nonprofit is on track to bring in a record $100 million in 2021. Over the last 15 years, Scott has dramatically grown Charity Water’s footprint by taking far-sighted and often unconventional strategic steps. Just recently, he launched a Bitcoin Water Trust, to tap into a new community of potential donors. Scott’s success flows from an unwavering belief that there’s no better investment in people and communities than clean water.
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With Marriott's business already reeling due to Covid, beloved CEO Arne Sorenson was lost to cancer earlier this year. Stephanie Linnartz, president of Marriott International, shares how she and new CEO Tony Capuano have picked up the reins in the most challenging travel environment in modern times. Stephanie’s journey, and her prescriptions for Marriott’s future, reveal an unrelenting entrepreneurial spirit and an inspiring dedication to Sorenson's legacy.
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"Corporations can be a force for good – and they can also be very successful," says Ken Chenault, chair of investment firm General Catalyst and former longtime CEO of American Express. During the past year, Ken has been an outspoken advocate for business leaders to actively engage in societal matters. After George Floyd’s death, he and Merck CEO Ken Frazier launched OneTen, a coalition to create 1 million jobs for Black Americans that now includes major brands from IBM to Nike to Walmart. Chenault has pushed corporate chiefs to use their leverage to protect voting rights, and he's come out with a platform for Responsible Innovation that puts what he calls “social due diligence” alongside financial due diligence. Standing up for what's right, Ken says, fuels long-term success: "The most important thing is the quest for truth, character, and values."
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Fashion became secondary amid Covid lockdowns. Sweatpants-only life pressed apparel-subscription service Rent the Runway into layoffs and furloughs. But as co-founder and CEO Jenn Hyman explains, the business saw a surprising rebound early this year, fueled by new customers in unexpected places – and by a renewed consumer focus on sustainability. Building a “closet in the cloud,” as Jenn describes Rent the Runway, may not have been an essential pandemic service, but as we move into the next phase, her experience illuminates how accelerated change is remaking the marketplace.
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Moderna's Covid-19 vaccine would not have scaled without Ginkgo Bioworks. Reshma Shetty, co-founder and COO of Ginkgo – slated to go public via SPAC acquisition at a reported $15 billion valuation – explains how biotech innovation can build a better future now. Ginkgo's platform already serves industries from food and agriculture, to materials, to healthcare. Shetty acknowledges that engineering genes is a high stakes pursuit, and says Ginkgo is trying to pair the ambition of Silicon Valley with a "higher level of care" than consumer tech companies like social media have demonstrated. The key, Shetty says, is creating an unstable equilibrium – propelling progress but not at the expense of principles.
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How do you win the post-pandemic war for talent? Send your frontline workers to online school. That's the pitch that Rachel Carlson has made – successfully – to big businesses from Chipotle to Disney, Walmart to Waste Management. As co-founder and CEO of Guild Education, Carlson runs a digital platform that enables workers to get degrees and certifications as a free employee benefit. Though virtual schooling for kids is under fire, virtual education for adults has caught on over the last year like never before. To meet the ongoing need for “upskilling” in the modern economy, Carlson says, company-sponsored digital classes should be as ubiquitous as company-sponsored health plans. The ROI, she explains, is astonishingly high.
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"We may not be able to survive this," remarked Robert Reffkin, founder and CEO of real estate platform Compass, after pandemic lockdown rules essentially outlawed U.S. home selling. Yet today the housing market is booming, and Compass has successfully IPO'ed. Reffkin shares how he kept his team together, why he stayed optimistic, and what businesses lucky enough to have benefited from Covid times owe their communities. He also shares insights on housing prices – after correctly predicting last year that summer 2020 would be the most successful in the history of the real estate market – and on the future of big cities. It’s a house tour worth taking.
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Google search may be the world’s most powerful public health platform. Dr Karen DeSalvo, Google's chief health officer, has built a team of doctors, scientists and clinicians who – alongside engineers and designers – determine what information and advice shows up when we search for answers about Covid-19, the pandemic, vaccines, and more. She also heads Google’s employee health-safety efforts and leads external in-the-field efforts to broaden vaccine access in the U.S. and across the globe. Her message to businesses is that we all have a role to play in combating the virus – and that, when it comes to return-to-work, our own personal risk assessment can’t be discounted.
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Harry's took a one-two punch in 2020 – right on the chin. First, the federal government blocked a $1.37 billion acquisition of the shaving and consumer products company; then Covid-19 lockdowns hit. Rather than reeling from the abrupt change in plans, though, Harry's kept its balance. Co-founder and co-CEO Andy Katz-Mayfield explains how the team launched new brands amid the pandemic, tapped into unexpected pockets of demand, and, most recently, raised fresh capital at a valuation well above the blocked merger deal. Now, with a war chest at their disposal, Andy and co-founder and co-CEO Jeff Raider, are looking to acquire brands, having switched from seller to buyer. It is a classic entrepreneurial feat, finding strength and new opportunities out of disappointment and disruption.
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Five years of growth in five weeks. That's how Covid-19 lockdowns accelerated Instacart's business last spring. Now, a year later, the company faces another "crucible moment," says Instacart CEO Apoorva Mehta. He's leaning into what he describes as a four-sided market – including software services for grocers and advertising for product vendors – to amplify the appeal of tech-enabled shopping, even as vaccinations proliferate and in-store buying revives. Instacart's focus, he says, will help it outpace a rising field of competitors, and create a distinctive advantage even against behemoth Amazon.
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With the pandemic, cooking at home got a renewed boost, and meal kit outfits saw a rise in demand. But a year in, the trend toward at-home dining now faces a new inflection point. We're talking with Linda Findley Kozlowski, CEO of meal-kit pioneer Blue Apron, because she’s on the frontlines of assessing which pandemic-fueled behaviors will persist, and in what ways. Early on, Linda made the choice NOT to sop up every ounce of demand, instead focusing on what she calls sustainable growth. Blue Apron has seen a flood of new competitors come onto the market, but her bet is that long-term trends and a differentiated product will matter more than crisis opportunity. As she puts it, a pandemic is not a business model.
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"It's 12 months of no meaningful revenue," says Alamo Drafthouse CEO Shelli Taylor. "And then last weekend was phenomenal." Taylor returns to the podcast to explain why the hip, culture-forward movie theater chain recently filed for Chapter 11 bankruptcy protection, even as movie-goers began to return back to theaters, plus the unexpected lessons she learned about the process – and why she still sees great hope and opportunity ahead for the business. Read the transcript at mastersofscale.com.
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With 75% of U.S. customers saying they'll soon be vaccinated, Delta is embracing a new phase, opening up middle seats as of May 1. CEO Ed Bastian bet at the start of the pandemic that focusing on consumer confidence and reinforcing Delta’s brand would ultimately pay big rewards. Now that strategy will be put to the test -- even as Bastian clashes with Georgia officials over the state's new voting law. How quickly will domestic demand rebound? When will business and international travel return? And what blowback may Delta face for its political stance? For Bastian, being on the hot seat is just another day on the job.
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Revenue for Morning Brew's booming e-mail newsletter operation dried up when the pandemic hit, but its next-generation audience remained devoted. Morning Brew CEO Alex Lieberman, who started the business with co-founder Austin Rief as undergraduates at the University of Michigan, leaned into the brand's distinctive personality, fueling a sharp rebound. By last fall, they sold a majority interest to Business Insider for a reported $75 million. Lieberman explains the roots of this "trampoline effect," the potential of the creator economy for entrepreneurs, and why an authentic voice is a shortcut to business success.
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In recent months, business leaders have been pressed to take public positions on politics in ways they never have before. That's good for business and good for democracy, says Daniella Ballou-Aares, co-founder and CEO of the Leadership Now Project. She argues that even businesses that don’t lobby are key players in building our communities of the future – and that business-style innovation offers the best chance of improving democratic processes. With trust in entrepreneurs outpacing that of other civic leaders, Ballou-Aares notes, corporate activism isn’t stepping out of your place; it's embracing both responsibility and opportunity.
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Headlines last April predicted death for Airbnb. How could it survive a pandemic that stopped their core business cold? As the business cratered (in 8 weeks, they lost 80% of revenue), CEO Brian Chesky realized: It was a moment to step back, rethink and do more than anyone expected. So after putting a planned IPO on hold, he and his team started planning Airbnb's "illogical rebound." In this special Rapid Response interview with Bob Safian, Brian shares candid, never-before-heard stories about the advice he got from Barack Obama, and about the eye-popping December 2020 IPO at a valuation that left even him speechless. He speaks truthfully about the uncertainty, the anxiety, and the loneliness entrepreneurs are feeling as they fight for the future of their teams, their companies, and their vision.
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How does a start-up geared to healthcare workers balance giving back during Covid with the desire for growth? FIGS, an emerging lifestyle brand for medical professionals that built its name around premium scrubs, faced key choices amid the pandemic. Co-founder and co-CEO Heather Hasson explains why a commitment to offering free PPE, isolation gowns, and more supported both FIGS's mission and its community. Shifting supply lines, leaning into a robust e-commerce system, and expanding internationally in response to demand, the FIGS team used the moment to reinforce their relationship with their customers – and saw annual revenue climb past $250 million. Hasson likens medical professionals to star athletes, under high pressure for hours on end, with huge stakes in the balance. By treating them with special care, and championing their contributions, FIGS has built enviable brand allegiance among a community that, until Covid hit, was often overlooked.
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When he became CEO on the eve of the pandemic, Nike's John Donahoe starting game plan revolved around listening and being out in the marketplace. But when lockdowns began rolling through, he quickly adjusted, assuming what he calls a "wartime" approach to leadership. Donahoe's view is that top-down stewardship matters now more than ever. To not only survive the pandemic but come out in a stronger position, he is leaning into the brand’s legacy, his team’s strengths, and booming direct-to-consumer digital engagement. He's also tapped an innovation pipeline that's helped Nike release a new product every two weeks. The world needs sport to bring people together, Donahoe says, and Nike is at the center of that. Doubling down on that mission, he says, drives passion from both consumers and employees, pushing forward a message of hope and unity.
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Maintaining high performance in business has become harder than ever, between health challenges, economic obstacles, and political uncertainty. But we all still work to win. Jerry Stackhouse, coach of the Vanderbilt University men’s basketball team and former NBA all-star, is focused on winning – in the near-term, and the long term. His experience offers a compelling parable for every business leader these days. With Covid-19, his team has faced cancellations, testing protocols, and a pandemic reality of isolation and empty arenas. Coach Stackhouse is balancing the high stakes of health, racial equity, and media scrutiny with the quest for performance. Leading a team has never been more difficult, or more important.
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Call him the unofficial U.S. ambassador to Silicon Valley. As director of the Defense Innovation Unit within the U.S. Department of Defense, Mike Brown is tasked with bridging the gap between technology innovators and the U.S. government. Formerly CEO of Symantec, Brown knows the significant opportunity public-private partnerships can offer entrepreneurs – if structured for speed not bureaucracy – and he's been setting up new ones at a rapid clip. He also knows the intense need to keep the U.S. government on the leading edge of tech, for cost reasons and competitive ones. Brown has a keen eye on China’s tech-and-government efforts, and the potential impact on U.S. companies and U.S. national security. Bringing the best of commercial tech into the government, Brown says, isn’t just a nice to have but a need to have.
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The pandemic era has ushered in a new wave of food insecurity, with some 50 millions Americans hungry for food aid. How could Feeding America, a nationwide network of food banks, meet the moment? CEO Claire Babineaux-Fontenot describes the immense challenge: volunteers unavailable, mass-distribution centers untenable, resources unreliable. But with one in six Americans in need (one in four kids), she leaned on Feeding America's assets in new ways, empowering local chapters, collecting data, accelerating tech, and continually reassessing logistics to meet developing needs – a lesson all entrepreneurs can learn from. And landing a $100 million gift from Jeff Bezos didn't hurt either!
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As we grapple with pandemic-charged change in business and as a society, we’ve become more fractured, more divisive, and more vulnerable. Adam Grant, best-selling author and professor at the Wharton School, argues that recognizing what we don't know is the key step on the road to insight, competitive advantage, and community peace. In his new book, "Think Again," Grant illuminates why taking a fresh look at our assumptions, about others and about ourselves, is such a powerful tool. His in-the-trenches research – from Silicon Valley's halls of power to the beliefs of anti-vaxxers – provides actionable advice for all of us.
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Expectations for solar are high under a Biden administration, says Lynn Jurich, CEO of the solar power company Sunrun. While Sunrun's stock price has quadrupled in the past year, Jurich faces not only high-profile competition but the complexities of a new-style energy utility and the vagaries of politics and policy in the most partisan environment in generations. Her touchstone – in a key lesson for entrepreneurs – is to focus on long-term trends that she believes are favorable. In the teeth of the pandemic, she spent $3 billion to buy up one of the other key industry players, doubling down on her commitment, and extending a scale advantage. From Sunrun's internal culture to the undulating energy marketplace, Jurich is both pivoting in search of opportunity and holding fast to central principles.
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It's been an epic journey for iconic New York City restaurateur and Shake Shack founder Danny Meyer. Forced by the pandemic into closures and layoffs last spring, as he poignantly shared in two previous episodes, Danny stayed optimistic and was rewarded through the summer and fall, as new menu innovations and new dining protocols brought back customers.
But then a fresh wave of infections inflicted fresh pain, with harder choices than ever and renewed layoffs and closings – one of them permanent. The restaurant industry overall is teetering on the edge, he says, desperate for federal help and active intervention to be able to return to the communities they once served. Danny still believes that restaurants will come back; that, in fact, the coming months will provide a unique opportunity for new restaurant launches. Yet his own spirit is being tested, as unrelenting challenges face off against defiant hope.
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Amidst the devastating effects of the pandemic, one in five women has left the workforce, and the gender pay gap and wealth gap are expanding. There's a long-term cost to that inequity, says Sallie Krawcheck, co-founder and CEO of Ellevest, a fintech platform dedicated to serving women investors – and businesses can help to address that cost. A long-time C-suite leader at financial behemoths like Citi and Bank of America, Krawcheck knows firsthand the obstacles women face as well as the struggles big institutions can have in reconfiguring their practices to help. Today, she says, we can no longer look away from the harsh numbers. She believes the agility of startups provides a key part of the solution, demonstrating the impact that entrepreneurship can have, for all of us.
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A podcast recommendation for the New Year. The iconic founders who join us our show are all masters of creativity. From the initial spark, down the crooked path of invention, scaling a company is a hero’s journey in creativity.
With that: a new podcast from the team behind this show. It’s called Spark & Fire. On each episode, an iconic creator tells the story of bringing a beloved work to life. Yo-Yo Ma on the Silk Road Project. Kemp Powers on Pixar’s “Soul". Architect Thomas Heatherwick on NYC’s Vessel. Novelist Isabel Allende on The House of the Spirits. Book designer Chip Kidd on Jurassic Park. Choreographer Bill T Jones. Last Jedi Director Rian Johnson. But it's not an interview. It’s a captivating story, told entirely in their words.
If you love Masters of Scale, you might find this podcast resonates with you too. Take a moment now and to subscribe to Spark & Fire. When the first episode drops on January 6, you'll get it automatically. It will help you think more creatively about everything.
sparkandfire.com
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Salesforce's much-buzzed-about deal to acquire Slack for $28 billion goes back a decade, when Friendfeed founder Bret Taylor met Flickr founder Stewart Butterfield. Now Taylor is Salesforce's president, while Butterfield runs Slack. In this episode, Taylor talks about how the pandemic helped the two friends bring their businesses together, and what a Salesforce-Slack combination means for the future of work. Taylor explains how an initial paralysis within Salesforce when the pandemic hit turned into a new operating model based more than ever on digital work tools. With vaccines in sight, Taylor also shares inside data on our love-hate relationship with the office. In the end, he argues, the workplace of tomorrow will depend as much on human choices as it does on software.
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Why leave a storied tech icon to lead a troubled brand? As the pandemic deepened this summer, Peggy Johnson left a safe perch at Microsoft to take the helm of one-time startup darling Magic Leap, which had just barely avoided bankruptcy. Yet with CEO roles for women in tech still unfortunately rare, Johnson felt compelled to take a risk. Now she's betting that the accelerated tech adoption prompted by Covid-19 will boost emerging areas like Magic Leap's AR. All entrepreneurs face moments when the bar seems impossibly high. But even in difficult times, Johnson knows, we can make our own opportunities.
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This is the loneliest century, says economist Noreena Hertz. Even before the pandemic forced us to stay home, loneliness was snaking its way through our lives, affecting everything from how we vote to how we work. Professor at University College London and author of the upcoming book, The Lonely Century, Noreena has some sage advice for businesses: about how less loneliness fuels more productivity, the bottom-line advantages of in-person connection over virtual interactions, and why values like kindness, community, and care are key to attracting and retaining talent. Technology is a double-edged sword, Noreena says, but we can use it to turn our isolation around, if we embrace the opportunity.
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After suffering record shattering drops in revenue from Covid-19, JetBlue has had to rethink every plan and every assumption. Joanna Geraghty, JetBlue's president and chief operating officer, explains how the airline built a new system for flexing the business, to ramp up only when demand arises, deploying cost cuts but no furloughs, and looking for opportunity amid the downdraft. With JetBlue and airlines across the board now grappling with a renewed global infection surge, Geraghty says her decisions rely on new types of data as well as gut feeling – from re-opening middle seats starting in January to expanding flights to London. The volume of choices Geraghty has to make and the uncertainty around the risks are dizzying. But despite the challenges, she says, JetBlue is rising up.
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Legendary ad agency Wieden+Kennedy pioneered some of the most successful campaigns in history. But 2020 has raised the stakes for companies—and fundamentally changed how advertising works, W+K President Colleen DeCourcy tells us. Even as her own business adapts to financial and cultural strains, DeCourcy and her team have been guiding brands from Nike to Coca-Cola to Uber in selecting the right messages in a turbulent world. Meshing an economic goal with an emotional message has never demanded more creativity. Brands should take a stand, she argues, but not on everything.
Want to learn more about Wieden+Kennedy's work with Nike? Check out our episode with Nike founder Phil Knight: http://listen.mastersofscale.com/PhilKnight_WK
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In-office engagement or remote flexibility? We don't need to choose, says Dropbox co-founder and CEO Drew Houston. Facing the biggest shift in work habits in half a century, Houston has embarked on a radical experiment to reimagine how work gets done. The company's recently announced Virtual First plan dedicates all in-office activity to creative, team-based efforts, rebranding its offices as Dropbox Studios. Individual work will happen offsite, either at home or a self-chosen co-working space. Project teams set their own schedules. The unique opportunity of this moment, Houston says: How do we make work better? Yes, he admits, remote work feeds Dropbox's business, which now includes a collaboration with Zoom as part of a re-thought product roadmap. If Dropbox is going to design for the future of work, says Houston, then its own workforce needs to live in that future, right now.
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With Covid-19 cases surging, businesses may be forced into a new wave of adjustments. Will the crisis-management tactics of spring and summer be successful as winter unfolds? Dr. Bon Ku, an ER physician at Jefferson University Hospital and director of the Health Design Lab, returns to the podcast to share what he’s seeing as we enter a new season and how we might respond. His proposals for health care delivery – about both heightened vigilance and creative shifts to financing, supply chains, digital tools, etc. – provide a bracing wake-up call. While doctors and hospitals have gotten much better at information sharing, testing, and treatment, Dr. Ku warns that without significant change we might be looking at a devastating period ahead.
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Small business is being taxed emotionally as well as financially, and that tax is rising, says H&R Block CEO Jeff Jones. As the pandemic hit, entrepreneurs did what entrepreneurs do: solved problems, protected teams, served customers. But as uncertainty has persisted, anxiety among business owners has risen, even since the summer, according to a major new H&R Block study. With small enterprises the backbone of his customers, Jones has a unique vantage to offer advice and lessons: about asking for help, prioritizing needs, and finding calm. Jones sees small businesses as key to thriving economies, convinced that entrepreneurial resilience can eventually overcome all hurdles.
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95% of your business disappears. What do you do? Marriott CEO Arne Sorenson recounts how the travel industry drastically changed last spring, with hotel bookings all but disappearing overnight. In the midst of his own battle with cancer, Arne has spent the year balancing the needs of his workforce against those of his partners; having blunt but critical conversations; and empowering his team to make tough decisions. He has wise words about the role of business leaders in times of social unrest, including how to think about who you speak for – and when to speak up. Arne admits the hotel industry will take years to recover. That hasn't dimmed his personal belief that travel matters more than ever.
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As big movie chains shut down, Shelli Taylor's determined to keep her theaters open. With revenue at a trickle, the CEO of Alamo Drafthouse is negotiating daily with landlords and banks, and even tried her own video-on-demand service. Her balancing act – a conviction that long-term demand will be strong, while near-term economics are dismal – is familiar among entrepreneurial leaders. By defiantly keeping the movie magic alive, she's leaning into hope, the human need for community, and a creative new model. Yet there's no guarantee how this story will end.
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To safely re-open a business, you need more than masks. Covid testing is key – and the options are changing quickly. We found the most in-the-know person in public health to walk us through the choices, costs, and protocols to keep an entrepreneurial team, and all of us, safe. Rajiv Shah is president of the Rockefeller Foundation, which has led response to health crises in the United States and around the world for 100 years (including the 1918 flu pandemic). Applying what he learned fighting the Ebola outbreak in West Africa, Shah has brought together business, government, and health officials to turbo-charge Covid testing development. Next-gen test kits are coming soon: cheaper, easier, more abundant. If deployed correctly, says Shah, they can make us all safer and healthier in 2021.
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The pandemic, social unrest, the U.S. election – everything affects your team and your business. And the stakes are only getting higher. How do you address race and diversity? Should your business take a stand in the upcoming election? What role should your company play? If you're debating how political to get right now, this is your must-listen. We're talking with writer / thinker Baratunde Thurston on how companies can show up as citizens – citizens with the potential for outsize impact. Baratunde is host of the podcast "How to Citizen with Baratunde", and an advisor to business leaders through these times.
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Is your office safe to re-open? How much space do you need? Is remote-work really more productive? Diane Hoskins is co-CEO of architecture firm Gensler, which advises businesses from Google to Bank of America. With the pandemic, Hoskins explains, now is a critical moment to ask important questions about what your team needs to work smarter and successfully, and to build a physical space that is not just healthy but enables both collaboration and individual work. From new technology tools to insightful data, Hoskins shares insights that help us move toward the answers we need.
Read the full survey from Gensler: https://www.gensler.com/research-insight/blog/insights-from-genslers-u-s-work-from-home-survey-2020
Read a transcript of this episode: https://mastersofscale.com/rapidresponse/
Coming soon: Season 7 of Masters of Scale! new season begins Sept. 29.
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"Until this problem gets fixed, all the other things that I care about, that you care about, are on hold.” In this must-hear interview, Eric Schmidt, former Google CEO (and now co-founder of Schmidt Futures) shares why he's 100% focused on addressing the challenges of Covid-19. From vaccines and testing protocols to best practices for businesses, Schmidt shares a clear-eyed roadmap for moving toward a healthy, just, and economically vibrant post-pandemic world.
Listen to the "Reimagine" podcast: https://www.reimaginepod.org
Get the transcript for this episode: http://mastersofscale.com/rapidresponse
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The first day of school doesn't look the way it used to – in some cases, it might not be happening at all. As schools across the country start a new year, we're kicking off a new season with Eva Moskowitz, founder and CEO of Success Academy, a charter school network that serves 20,000 kids across New York City. In the spring, Success Academy pivoted to remote learning days before the City shut down schools and as they start a new semester, Success Academy is pivoting to "Remote Learning 2.0." Though Eva runs charter schools, any leader or entrepreneur can learn from her experience: how and when to make decisions in an uncertain environment, how and why to communicate with constituents, why to celebrate remote work – and who we should all prioritize.
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How to keep students learning – and building their vital lifelong community bonds – in the middle of a pandemic? This is the question for Dr. Mary Schmidt Campbell, president of Spelman College. Late in July, Dr. Campbell announced Spelman's plan for the upcoming academic year – with 100% online classes (and lower fees). Meanwhile, as the head of a leading HBCU, based in the protest hotbed of Atlanta, she's also been grappling with social unrest and calls for change. Spelman is taking this moment to experiment with how best to support virtual learning and community-building — combining emergent innovation and best-of-class design thinking — as they continue to push for equity in higher education.
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The pandemic has hurt many businesses – but PayPal isn't one of them. PayPal has boomed as e-commerce purchases have swelled, with the stock up more than 50% this year and a new demographic of the 50+ joining the platform. That doesn't mean though, that CEO Dan Schulman hasn't had a slew of adjustments and worries to manage. PayPal recently committed more than $500 million to support Black and minority-owned businesses, after facilitating some $1.9 billion in PPP loans to largely underbanked communities. Dan says PayPal has a unique opportunity to spur emerging economic recovery – and to make a longterm impact in the fight for racial justice.
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There's no quick fix to 400 years of oppression, says Color Of Change president Rashad Robinson. One of the largest racial justice organizations in the US, Color Of Change works with decision-makers in business and government to enact systemic change. In 2020, Color Of Change has seen its membership swell — along with its impact. Rashad's group railed against Hollywood's reflexive pro-police agenda, forcing TV shows "Cops" and "Live PD" off the air, and launched the Stop Hate For Profit campaign to hold tech companies accountable for what happens on social platforms. By working together, says Rashad, we can make a lasting difference.
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"This was like 1918, 1929 and 1968 in one week," says Darren Walker, president of the Ford Foundation. With the pandemic, economic crisis, and civil unrest all coming together after George Floyd's death, Walker found himself flooded with calls from CEOs struggling for how to respond. Walker's advice mixes clear-eyed messages — denying the trauma borne by communities of color is no longer option — with optimism about the opportunities ahead. At the Ford Foundation, they've accelerated giving and even exceeded their own KPIs. With more leaders dedicated to making a positive impact, he says, the wind is changing, for people of color and for America.
Read a transcript of this episode: https://mastersofscale.com/rapidresponse/
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A surprisingly candid and upbeat interview on the industry hardest hit by the pandemic. Delta saw seat bookings fall to less than 5% of normal, had 40,000 employees go on unpaid leave, and raised $14 billion in funding – all to withstand a cash burn that still stands at $30 million a day. To rebuild traveler trust, Delta CEO Ed Bastian has enacted a slew of new safety standards, including capping flight loads at 60 percent and using hospital-grade HEPA filters on board – in fact, Bastian contends there's not a safer time to be on a plane than right now. He's also sped up forward-facing company initiatives, like phasing out less-efficient planes, building out airport terminals, and installing better wifi. Bastian acknowledges there will be fewer planes in the sky in years to come, but he believes Delta will come out of the pandemic as strong and essential as ever.
Read a transcript of this episode: https://mastersofscale.com/rapidresponse/
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What can your business do right now in the struggle against racism? More than you think, says Shellye Archambeau, former CEO of MetricStream, now a board member at Verizon, Nordstrom and Okta. She returns to the show with her all-too-rare perspective as a Black woman at the top of some of the world’s largest businesses. The struggle is a marathon, but businesses are uniquely poised to demand accountability and transparency from their communities. Whether you're a CEO or a citizen, Shellye has heartfelt and hard-earned wisdom for us all.
Learn more about Shellye’s upcoming book Unapologetically Ambitious at unapologeticallyshellye.com
Follow Shellye on Twitter at: https://twitter.com/ShelArchambeau
Read the full transcript of this episode at mastersofscale.com/rapidresponse
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GM is now reopening auto plants, after shutting them in March, temporarily reducing pay for 69,000 employees, and making a fast pivot to produce masks and ventilators. But with the killing of George Floyd, things are hardly back to normal. Chair and CEO Mary Barra speaks to her “profound feeling of sadness,” but also to her optimism that the country and her company will bounce back. Though there is work to be done, says Mary, we're poised for transformation.
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BuzzFeed audience is at record highs. But the pandemic's economic effects have crushed the bottom line. BuzzFeed co-founder and CEO Jonah Peretti shares how his company is making hard decisions to build long-term stability. “But the transition is painful,” he says. While BuzzFeed is leaning into food vertical Tasty, new e-commerce habits, and BuzzFeed News, he worries that businesses like his don't have more resources to support staffers of color. But, he says, there's a clarity of purpose in crisis, in bearing witness to the things that are happening in the world.
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"Being the first to close is one thing. But I don't want to be the last to open,” says iconic restaurateur Danny Meyer in his second Rapid Response interview. After shutting his iconic New York City restaurants, laying off 2,000 staffers (with hopes to re-hire) and returning a $10m PPP, Danny finds himself reconsidering nearly everything about his business model. Even before the coronavirus lockdown, the restaurant industry had a slew of “preexisting conditions,” Danny says. Now those weaknesses have become exposed, putting at risk the future of hospitality — one of America’s core industries. Danny’s Union Square Hospitality Group is reimagining what and HOW their restaurants serve; rethinking how they generate revenue; and exploring new cost structures, like a bold new relationship with landlords. It’s all in the hopes, says Danny, of getting back to business, with customers safely at their tables, and the teams back together.
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Since One Medical’s IPO in January, CEO Amir Rubin has been forced to constantly adapt to the coronavirus pandemic, as healthcare needs, expectations, and behaviors shifted. From telemedicine to Covid-19 testing, One Medical has leaned into existing advantages to scale quickly: standing up respiratory care clinics and testing centers; revamping virtual and in-person visits; vetting labs and data. One Medical is now helping other businesses identify new practices to safely bring employees back to work. If you have a consistent platform and mission, explains Amir, that operating system can be applied to even fast-changing environments.
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"It's like getting hit in the face over and over and over,” says Warby Parker co-CEO Neil Blumenthal. But “crisis brings out clarity.” At Warby, planning for the future has meant leaning into the present — from physical changes in their factory and stores that ensure social distancing to optimizing online vision tests. Blumenthal shares the complex factors they consider in deciding which stores to re-open and when, and relates the human challenge of inspiring their on-the-ground factory employees — at times of increased risk. For Blumenthal, it's all about recognizing new priorities (safety) and fitting them into ongoing strategy.
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Tapping both personal experience and intuition, Lifeway CEO Julie Smolyansky has embraced action amid uncertainty. Before the pandemic reached full throttle, Lifeway stockpiled seven weeks worth of product, secured supply chains, and reached out to all their customers. Mask on, Smolyansky personally visited her Chicago warehouse, made in-person donations to the food pantry at Wrigley Field, and went to dozens of stores across the city searching for thermometers for her team. The crisis, she says, has evoked her early years in the Soviet Union and her family's fight, as immigrants, to live the American Dream.
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Data streaming, videoconferencing – even phone calls are way up at Verizon amid Covid-19, as digital interaction steps in for IRL. But boom times don't mean easy times for CEO Hans Vestberg, who moved over 100,000 employees remote in two weeks. As coronavirus hit and pressure on the Verizon network skyrocketed, Vestberg split his leadership team in two: one to deal with the specifics of the crisis and one to focus on pursuing present-and-future business goals. From new customer initiatives (like free bandwidth and FIOS-in-a-box) to future bets (like the acquisition of video conferencing service BlueJeans), Vestberg has championed that meeting customers' needs today – even if not fully compensated for them – will pay off for the business tomorrow.
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In sports, everyone has an opinion on every hire, every trade, every price change. That’s the reality – and also the privilege, says Scott O'Neil, CEO of the Philadelphia 76ers and New Jersey Devils. When the NBA dramatically shut down its season MID-PLAY, O'Neil's life changed in a very public way. He has faced new leadership challenges that include missteps, like the decision (and sudden reversal) of cutting employee salaries, and discoveries, like knowing it’s ok to tap out when you need to recharge. With no players on the court or fans in the arena, O'Neil is shifting his focus on what the new era of sports and entertainment can look like.
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In the Covid-19 storm, treating hospital patients requires constant iteration, creative information-sharing, and worst-case-scenario planning. Dr. Bon Ku, an ER physician and director of the Health Design Lab at Jefferson University in Philadelphia, takes us inside the practice and mindset required to perform under extraordinary pressure. He offers on-the-ground business insights we can all learn from, as he looks toward the future and reflects on a possible second wave of infections and the faulty incentives in the medical system.
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Will the U.S. run out of food? Can the world's food supply chains survive coronavirus? Sara Menker, founder and CEO of Gro Intelligence, which parses 650 trillion agricultural data points daily, shares eye-opening insights based on real-time facts. Learn about the hidden forces that impact what we see on shelves -- and why we might be worrying about the wrong things.
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Hospitals are facing overwhelming challenges they weren’t equipped for – and in many cases, they’re now innovating their way toward solutions. Today we're talking with Dr. David Skorton, CEO of the AAMC, the Association of American Medical Colleges. David isn’t a founder or an entrepreneur but he has a bird’s eye view of what health institutions are grappling with, how they need to rethink the way they operate, and what all of us – in any kind of organization – can learn from this moment.
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What do you do when you can’t serve customers in cafes and carry on business as usual? You try unusual things, says Panera CEO Niren Chaudhary. Forced to close cafes and restructure teams, Panera is leveraging its advantages (like a robust e-commerce system) to launch a slew of initiatives, from Panera Grocery to contactless delivery to Together Without Hunger, providing 500,000 meals to food banks across the U.S. It’s not the same Panera, says Chaudhary, but a Panera that will make it into the post-pandemic world.
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Everyone's looking for a box of crisis tricks. But the hard truth is that it simply doesn’t exist, says retired General Stanley McChrystal. Instead of looking for a new style, McChrystal says, lead with the same things that motivate people on a normal basis: Be honest about the path ahead, communicate clearly and build your team up. With calm reassurance, he encourages founders to keep their eyes on the future. Prepare for the post-pandemic world now, so you and your team can spring to action when the time comes. Retired General McChrystal is now the founder of the McChrystal Group.
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Pet adoptions have soared during the coronavirus lockdown, as people seek companionship and solace. For Chewy, the pet-supply company, that’s driving unprecedented demand. Ultra-rapid growth has its own set of challenges that CEO Sumit Singh is responding to by: hiring (at 13,000 employees, with plans to add another 6,000 to 10,000 by end of year.); setting up a COVID task team that meets daily; instituting health and safety checks; rolling out customer-facing innovations in a weekend, and more. Why? Because a leader's job during a crisis, Singh says, is to first communicate with the team, and then innovate for a post-pandemic world.
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A neighborhood is more than just the people who share a common address, says Nextdoor CEO Sarah Friar. It’s every space that makes up your daily life. So Nextdoor is jumping in, rolling out new features like Help Maps and Groups so residents can connect and coordinate. Sarah says these products, some new, some in development pre-Covid, all help fulfill Nextdoor’s mission and help neighbors act as the frontline of support for one another.
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In the US, local governments are leading the response to COVID-19 – making decisions and gathering data at a speed and scale never before seen. And many of them are asking Jen Pahlka for help. The founder and past chair of Code for America, she co-founded U.S. Digital Response, a nonpartisan group that matches experts with local governments to work on tech, comms and operations. She shares what she's seeing right now – and paints a bold, big-picture vision of what a modern government could do in the years to come.
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Many of us will be working remote for a long time to come. So: How do you turn March's temporary scramble into a long-term benefit? Bitcoin pioneer Wences Casares runs a fully distributed company at his unicorn bitcoin startup, Xapo. For Wences, remote work is an intentional choice, one that celebrates the creativity and freedom of being released from geographical boundaries – and turns remote work into a striking advantage. Hear Xapo's battle-tested guidelines for communication styles, hiring – and supporting home offices that really work.
You can check out Xapo's guidelines for remote work here: https://mastersofscale.com/wp-content/uploads/2020/03/xapo-workplace-guide.pdf
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People are altruistic – even more so in times of uncertainty. DonorsChoose CEO Charles Best has learned this through 20 years of leading his nonprofit through the terrorist attacks of 9/11, multiple recessions, and now a pandemic. Charles knows how to listen to what grantees really need – and donors really want — and how to pivot to address changing needs. In the last few weeks, DonorsChoose has completely reimagined how it connects grantees with the resources they need, and built a new platform to do it. Because the value of a donation, he says, goes far beyond what money can buy.
Go to https://www.donorschoose.org/coronavirus to find a project you want to fund.
If you're a teacher, you can sign up at https://www.donorschoose.org/teachers.
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Every day in a pandemic is different, and that’s true for people and for corporations. CEO Brian Cornell has promised Target will keep its doors open. To do that, Target is becoming "a good student," says Brian, listening to experts, collaborating with CEOs, staying flexible, and meeting daily to make decisions on an ever changing list of priorities, the first of which is to keep both the team and the guests safe. To date, they’ve made a $300 million investment in pay and benefits, back up childcare, elder care, enhanced store cleanings, and more. No one knows what will happen, says Brian, but he believes that by putting his team first, he is putting the customer first – and serving the larger community.
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Can you blitzscale when the world grinds to a halt? How do you do right by your team AND your investors? What will the entrepreneurial world look like on the other side of this? In this special episode, Reid Hoffman, sits on the other side of the mic with Rapid Response host Bob Safian — contextualizing the crisis and offering a hopeful viewpoint.
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TaskRabbit remains open for business, says CEO Stacy Brown-Philpot. As the magnitude and severity of the pandemic became clear – and as workers across the U.S. were furloughed and services cut – TaskRabbit leaned into the work they do: providing services to those who need them and empowering Taskers with new opportunities for income, including virtual tasks, and Tasks for Good, which connects vulnerable individuals in need with local volunteer Taskers. TaskRabbit was founded during the 2008 financial crisis and then and now, says Stacy, the business remains a necessity, for the community, and for the gig economy.
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"Anxiety," "grief," "mom”: These are the words that matter at this extreme moment in time. That data comes from Crisis Text Line, whose online counselors are using both empathy and aggregated data to help people through this pandemic. Founder and former CEO Nancy Lublin makes the case for not losing sight of data — especially at extreme moments like this. Crisis Text Line provides free, confidential crisis counseling via text, 24/7 and to help counselors meet the moment, they anonymize and analyze real-time data on how their users are feeling. That data is telling us the story of right now. Hosted by editor-at-large Bob Safian.
Jaw-dropping data reporting here: "How Is America Feeling?" Read: https://www.crisistextline.org/everyday-empathy/
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Everything starts with transportation, says John Zimmer, co-founder and president of Lyft. And even though ride sharing is sharply down, transportation remains key – for essential workers and for our supply chain. So Lyft is flexing some new muscles, says John. They recently launched a delivery service so they can help get supplies where they need to go – and put drivers on the road. They’ve also spent over a million dollars on protective equipment so that both drivers and riders can be protected; and began providing free and discounted rides to both essential workers and people in need of transportation. John’s hope is that by Lyft staying true to its mission, they’ll come out successful on the other side.
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Jobless claims are in the millions and climbing by the week. As businesses close indefinitely, the workforce—and especially hourly workers — face an astounding level of financial instability. At Boston’s Cue Ball Group, Tony Tjan’s portfolio includes companies that employ hundreds of nail care workers, cooks, and servers. For some of their businesses revenue has fallen to zero. And Tony's asking: How can we protect hourly workers and help them prepare for an uncertain future? And how can we plan for the long term, when the daily keeps changing?
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How do you survive a crisis? You create your own trajectory, says Ellen Kullman. And she knows: In her former role, she became CEO of the chemical engineering giant DuPont in 2008, just ahead of the financial crisis. During those years of straight free fall, Ellen learned how to lead through what seemed like completely devastating circumstances and developed four crisis principles, forged through the fire of experience. She’s putting those to the test now, at the helm of 3D printing unicorn startup, Carbon. She took the role just five months ago – and then headed straight into the pandemic. At Carbon, she’s zeroing in on what she can control (from innovating manufacturing to restructuring supply chains to where the team works) and pivoting to create a new path to success.
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As the pandemic hit, Airbnb was preparing for an IPO. Within a matter of days, everything changed dramatically, as travel worldwide screamed to a halt. “I felt like I was captain of a ship and a torpedo hit the side,” says CEO Brian Chesky. Airbnb responded quickly, announcing that they'd override host rules and allow for guest cancellations. They went on to establish a relief fund for hosts, lobby the U.S. Congress to include hosts in the CARES stimulus package; open up a new business line of virtual experiences, and raise an astounding one billion dollars in new capital — all with the goal of both weathering the storm and laying the groundwork for the new era of travel that Chesky firmly believes will follow. Chesky takes our co-host Bob Safian through the last few weeks, shares what gives him hope and explains why he’s bringing Airbnb back to its roots as a scrappy, resilient startup that can adapt and evolve.
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In late March 2020, Danny Meyer laid off 2,000 people – that's 80 percent of staff at Union Square Hospitality Group, representing 20+ restaurants across the country. It was a heartbreaking decision made with full understanding of the impacts, short-term and long-term – or as much as can possibly be known in this volatile time. Danny shares why and how he acted so quickly, the process he and his team used to make this decision, the impact of the layoff, and what comes next for his industry. Co-hosted by Masters of Scale editor at large Bob Safian.
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