Graham Allcott has written six books, including the global bestseller How to Be a Productivity Ninja. He is the founder of Think Productive and has privately coached prominent international business leaders.
Whats the big idea?
Kindness, empathy, and psychological safety at work are not just fluffy, hippie ideas. They are key drivers of outstanding performance. Kindness is a practice that requires strength, skill, and intentionality. With it, every team can create an environment of abundant wellbeing, innovation, and growth.
Below, Graham shares five key insights from his new book, KIND: The Quiet Power of Kindness at Work. Listen to the audio versionread by Graham himselfin the Next Big Idea App.
1. Kindness and empathy build trust and psychological safety.
High-performing teams are built on trust and psychological safety. Kindness is one of the fastest ways to build this high-performing environment.
Trust allows people to take risks, admit mistakes, and remove micromanagement and other forms of due diligence. In a team, psychological safetyfeeling able to take interpersonal risksleads to high performance. When a team is psychologically safe, people raise the alarm if they spot a problem and share the risky idea that might drive innovation. They tell hard truths but are also more open to feedback for improvement. They feel seen, heard, and part of a bigger picture.
All the research points to psychologically safe, people-driven business as being more successful. Psychological safety leads to greater productivity, engagement, retention, well-being, creativity, innovation, and happiness. Kindness and empathy arent just moral nice-to-haves. Theyre strategic advantages for building a culture of psychological safety where the work matters because the people doing it matter.
2. Nice and kind are not the same.
Kindness often gets bad press, or people might even say theres no place for kindness at work. Kindness is often considered weak or a quality of pushovers. But this is because people confuse being kind with being nice.
Nice often is a bit weaknice cultures often focus on keeping the peace but shirk the responsibility to tell the truth or call out bad behavior. On the other hand, kind cultures focus on truth and grace. Nice is about telling people what they want to hear. Kind is about telling people what they need to hear.
Imagine youve been in a meeting, and a colleague delivered a presentation to the group. It didnt go well. At the end of the meeting, your colleague asks you for feedback. At this moment, we face a choice. The nice option is that we tell a white lie to keep the peace: it was good; you did well. We are shirking the truth to keep the peace.
Kind is about telling people what they need to hear.
The kind route would be to invest 20 minutes the following day to go through some quick feedback. We can offer difficult and uncomfortable truth, but from a place of love. The result is that they can learn and improve. It takes real strength to choose kind over nice in that moment. Its inconvenient (it takes time), its brave (because you have to put your relationship with that person at risk to help them improve), and its skillful (because delivering the truth with grace takes a skilled communicator). But when everybody operates like that, no one fears feedback, people grow, and the teams performance and work output continuously improves. Being too nice can be a weakness, but being kind is pretty badass.
3. Challenging the Business Baddie narrative.
Kindness drives performance. It also lowers stress levels and improves physical well-being. And its free. So, why isnt there more kindness? Whats holding us back?
If you look at portrayals of business and work in theatre, fiction, and media, what youll find everywhere is the business bastard archetype. Back to Shylock and Ebeneezer Scrooge, right through to Shark Tank and The Wolf of Wall Street, were taught that those who treat people badly are the ones who succeed. Upon reading the biography of Steve Jobs, I witnessed many founders thinking that if they shouted at staff during their all-hands meeting, theyd build the next Apple.
In the book, I debunk the idea of dog-eat-dog success. The majority of successful leaders, statistically, are likable. But reasonable people doing a great job, being kind, and inspiring loyalty along the way produce less interesting stories than an evil genius. From Warren Buffett to Jacinda Ardern to Brian Chesky at Airbnb to the kind managers and leaders that you know, there are remarkable leaders whose warmth and kindness set the tone for success.
The business bastard narrative keeps us locked into a scarcity mindset, whereas kindness rewires our brains toward abundance. We need to move away from the self-talk that says there isnt enough time, or there isnt enough, or that we are not enough. We need to replace that self-talk with talk of abundance: I am enough. There is enough. When we see the world through this lens, then kindness is much easier.
4. Kindness is a verb.
A lot of what we see online regarding kindnessthe #be kind hashtag, social media memes, virtue signallingis people adopting kindness as part of their identity. Theres no such thing as a kind person or an unkind person. There are just kind or unkind actions. All of us have the capacity to be kind or unkind.
Kindness isnt something you are, its something you do. You are as kind as your last kind act or as unkind as your last unkind act. When we see kindness as a verb, not a noun, we recognize the importance of seeing kindness as a practice.
There are no prizes for just having the thought.
Kindness happens in the gap between having the idea to make someones day and actually making someones day. There are no prizes for just having the thought. Its the action that counts. The more we see kindness as a practice, the more we spot the gap when it happens. Its that tiny moment when you spot an opportunity to be kind. Youre on a train, and someone needs your seat more than you do, or youre in a meeting, and theres a tiny window of time to say something kind about a colleague. Act in that moment, and you make their day. Ponder for a couple of seconds too long, and the agenda moves on, and the moment is gone. Learning to leap into that gap rather than be held back by our own resistance is kindness.
To notice more opportunities, it helps to slow down. The biggest source of accidental unkindness is busyness. When we reduce busyness and increase presence, it increases empathy, and we build stronger relationships with thse around us.
5. Kindness starts with you but doesnt end with you.
I created 8 Principles of Kindfulness at Work. The first of these is that kindness starts with you. When we think about kindness, often our first thought is external: who needs our help? How can we be kind to a stranger? But the uncomfortable truth is that we have to start with self-kindness. Most of us are wired to treat others better than we treat ourselves. We think of self-care as somehow self-indulgent. But practicing self-kindness signals to others that self-kindness matters, and they can follow your example.
It also helps us move our self-talk away from scarcity and toward abundant thinking. For the kindness it inspires in others, being kind to yourself is a radical act of generosity. Kindness starts with you. The people who are kinder to themselves find it easier to be kind to others.
But of course, kindness doesnt end with you. In the coffee shops of Naples, they have a tradition called caffé sospeso. It basically means suspended coffee and its a pay-it-forward model. Theres a jar on the counter of the coffee shop and when I order my coffee, I tell the barista that I also want to order a caffé sospeso. When I do that, the barista gives me a suspended coffee ticket and I put it in the jar. Then, the next time someone comes in and doesnt have their wallet or money, they take out the ticket and claim a free coffee.
Its a wonderful example of the power of a single, kind act to create a ripple effect. I feel good and get that helpers high, the barista feels good about where they work, the customers who witness it are inspired to do something kind, and then someone claims it, and everyone gets to witness the act of kindness all over again. Theres a lot of research that talks about how many ripple effects can come from a single act of kindness.
All the coffee shop owner really did was find a jar and write caffé sospeso on it! They literally created a vessel for kindness and, in doing so, made it easy to be kind. Thats kindfulness. The idea that we can create vessels for other people to be kind. We can, in our work, make it easy for other people to be kind.
Whether its instigating a thank you card for someone, or taking a few moments in a team meeting to ask everyone to say something they value about the person to their left, we can all create the vessels for kindness. Think about your own work: whats the equivalent of that jar at the coffee shop? How can you be a vessel for kindness, and make it easy for everyone around you to be kind?
This article originally appeared in Next Big Idea Club magazine and is reprinted with permission.
Longtime Goya Foods president and CEO Robert Bob Unanue has published a bizarre press release about his recent departure from the company, leaving a lot of unanswered questions about what is happening behind the scenes at the Hispanic family-owned food and beverage company.
Here’s what to know about Goya’s public drama.
A vague press release reveals leadership in turmoil
Unanue, who has led the Jersey City-based brand since 2004, said he’s unclear about his current employment status after being informed that the board voted him out.
As Unanue’s self-published press release stated: “As to the nature of the decision and the rationale behind it, Unanue currently has no real answers, noting the company also has not publicly indicated that Unanue is no longer a leader of Goya Foods.”
Unanue then took to X for a series of oddly worded posts, making seemingly unrelated statements including: “No board decision can shake my resolve. I remain fully committed to raising awareness, holding traffickers accountable, and ensuring a safer future for our nations children. Join me in this fight against one of the greatest evils of our time. GODS CHILDREN ARE NOT FOR SALE!”
That post garned 140,000 likes, many from politically conservative accounts, while another post received 1.5 million views: “I recently received news that came as a big surprise. . . . While the decision has left many questions unanswered, one thing is certainI will not waver in my fight against child trafficking.”
For some background, the company has a long history of charitable work, including its Goya Cares and Goya Gives programs. Goya Cares is dedicated to fighting and raising awareness about human and child trafficking, abuse, and online exploitation, and advocates for children’s mental health. Goya Gives is a corporate social-responsibility program that includes disaster relief and food donations.
Goya Foods said its decision has nothing to do with charity work or politics.
A recent decision regarding a change in leadership has absolutely no connection to politics, media appearances, nor has it impacted our vital work in protecting children and addressing food insecurity through our Goya Cares and Goya Gives initiatives, read a Goya Foods statement reported by CNN.
Fast Company has reached out multiple times to both Goya Foods and Unanue for comment.
A lawsuit airs a family’s dirty laundry
The press release isn’t the only drama. Earlier this month, Goya board member and executive Francisco Frankie Unanue filed a lawsuit in New Jersey Superior Court against Bob Unanue (his cousin), alleging that Bob engaged in a clandestine agreement with his friend Suvajit Basu, by hiring Basu to head up Goya’s IT department without telling the board. This hiring resulted in Basu mismanaging and damaging the IT functions, alleges the lawsuit, as reported by CNN.
It then went on to allege that Bob Unanue tried to interfere with the company’s attempt to resolve the issue, while Bob deflected his own responsibility. It also alleges that Bob refused to participate in an important board meeting for an independent investigation into the matter.
Goya Foods originally filed a lawsuit against Basu in October 2024; Frankie Unanue joined the case as a plaintiff on February 5.
Any allegations against Mr. Unanue are frivolous, absurd, and have absolutely no merit whatsoever,” a representative for Bob Unanue told CNN. “The allegations are both a smokescreen and defamatory and will be addressed accordingly.
Basu has since filed a counter complaint, alleging a hostile work environment citing his Indian heritage. Goya said in a statement to CNN that it denies all of the allegations in Basus counter claim and third-party complaint.
Bob Unanue, a Trump supporter, has faced criticism in the past from fellow Latino leaders for supporting the president during his first term, even prompting a social media backlash that called people to #BoycottGoya. Last year, Unanue appeared in Houston to endorse Trump in the 2024 presidential race.
Founded in 1936 by Spanish immigrants, Goya Foods is the largest Hispanic-owned food company in the United States and a source for authentic Latin cuisine, according to its website. Goya sells more than 2,500 food and beverage products, including such staples as beans, rice, seasonings, tortillas, olive oil, and olives, bearing the popular tagline, If its Goya, it has to be good.”
The U.S. lobster industry’s catch keeps sliding as fishermen contend with the northward migration of the valuable crustaceans.
The industry is based mostly in Maine, where lobsters are both a cultural signifier and the backbone of the coastal economy. The state’s haul of lobsters has declined every year from 2021, when it was nearly 111 million pounds, to 2023, when it was less than 97 million pounds.
That decline extended into 2024, when the haul was about 86.1 million pounds, according to data released by state regulators on Friday. That is the lowest figure in 15 years. A series of major storms that damaged waterfront communities and disrupted fisheries was a key factor in the reduced catch, officials said.
Gov. Janet Mills, a Democrat, praised the industry for its perseverance.
During a year shaped by unprecedented storms and damage to our working waterfronts, Maines commercial fishermen, aquaculturists, and seafood dealers once again delivered a major economic benefit to our state, she said.
Last years catch was still historically high, as Maine fishermen never exceeded 80 million pounds prior to 2009. Hauls in the 2000s were typically between 50 million and 80 million pounds. Hauls in the mid-2010s were routinely above 120 million pounds.
The fishery remained economically strong in 2024. Maine fishermen took home more than $528 million at the docks, and that was the highest total since 2021, state officials said. Demand for the product, one of the most expensive seafoods, remained high, and the price per pound was one of the highest on record.
The state is meeting the challenges of climate change head-on, said Patrick Keliher, the commissioner of the Maine Department of Marine Resources. The governor has secured funding to “help rebuild damaged coastal infrastructure, make it more resilient to the effects of climate change, and protect critically important waterfront access for those who make a living on the water, he said.
But numerous environmental and economic challenges threaten the industry’s future. One of the biggest is the decline in the number of baby lobsters settling off New England. The young lobsters have to take shelter and grow to legal size to sustain the future of the fishery. Scientists have said the lobster population is migrating north to cooler habitats as oceans warm.
The Maine lobster industry is also linked to Canadas seafood industry and could be disrupted by new tariffs. Canadian fishermen harvest the same species of lobster as American fishermen, and much of the processing capacity for the seafood is in Canada. Tariffs are likely to increase prices on both sides of the border, members of the industry have said.
Another major challenge is the possibility of new rules to protect critically endangered North Atlantic right whales, which are vulnerable to entanglement in commercial fishing gear. Fishing groups have engaged in protracted court cases against the government over stricter fishing rules.
Other states, including Massachusetts, Rhode Island and New Hampshire, also have lobster fishing industries, but Maine’s is by far the largest, and the size of the Maine harvest gives a firm indication of the health of the American lobster industry at large. Maine accounted for about 78% of the country’s total lobster haul in 2023.
Patrick Whittle, Associated Press
TikTok and Instagram are flooded with reels of food influencers hyping already viral restaurants or bringing hundreds of thousands of eyes to hidden gems. With sauce-stained lips, exaggerated chewing, and that signature hooked finger over their mouth, they urge viewers to run, dont walk to these must-try spots. But how trustworthy are these glowing reviews?
Platforms like Yelp and Google Reviews long ago opened the door for anyone with an internet connection to play food critic. But the rise of short-form video has democratized the food-reviewing game to a whole new level. OnTikTok and Instagram, driving engagement is the name of the game, and posting hyperbolized reviews is one way to gain views and grow an audience.
Its a formula that works, but its also drawn backlash. This month, the U.K.s Guild of Food Writers called out these influencers, urging them to offer more honest reviews.
Vice president of the Guild of Food Writers, Chetna Makana London-based food creator herselftold BBC News NI that she doesnt trust the majority of online food videos, largely because its become increasingly difficult to distinguish between genuine reviews and gushing collab posts.
But judging by the size of some of their followings, plenty of others do seem to trust these influencers. Right now, perhaps the U.S.s most famous restaurant critic is a Las Vegas resident named Keith Lee, who has 17 million TikTok followers but no official food or cooking credentials. In the days when legacy media controlled the flow of news and opinions, editors acted as gatekeepers, ensuring content met certain standards. But as Pete Wells, recently retired restaurant critic for the New York Times, told the Washington Post, The everyman critic is more trusted than somebody who knows what theyre talking about.
Makan said that much of todays influencer-driven food content is over the top, lacking the depth, context, and culinary knowledge traditional food critics bring to the table. More to the point, restaurants frequently invite influencers for free meals in exchange for Instagram posts and TikTok videos. Beyond free meals, creators also can land lucrative brand deals, in which companies pay them directly to feature and promote products. According to Makan, some influencers are supporting every brand under the sun.
While the future of TikTok in the U.S. may still be in limbo, theres no doubt that influencers and the platforms they populate will continue to play a huge role in food media. And as Makan bemoaned, “There are fewer food critics in print media because there is not much print media left.”
Intel‘s promised $28 billion chip fabrication plants in Ohio are facing further delays, with the first factory in New Albany expected to not be completed until 2030, local media outlet The Columbus Dispatch reported on Friday.
The first factory will begin operations sometime shortly thereafter in either 2030 or 2031, the report said, citing the chipmaker.
Shares of the company, which originally scheduled to begin chipmaking in Ohio factories in 2025, were up more than 5%.
Intel has been cutting capital expenses after its expensive bid to become a contract chip manufacturer for other companies, in a move to restore its lost glory, strained its balance sheet.
The changes were made so Intel can align its factory operation with market demand and better “manage capital responsibly”, the report cited Naga Chandrasekaran, general manager of Intel Foundry Manufacturing, as saying in a message to workers.
The company’s second Ohio factory will not be completed until at least 2031 and will begin running in 2032, according to the report.
Intel did not immediately respond to a Reuters request for comment.
Last year, the company laid off 15% of its workforce, suspended dividend and initiated an extensive cost-savings plan involving massive cuts to its capital expenditure in the coming years.
Its finance chief David Zinsner told Reuters last month that the company’s goal was to ensure operating expenses were at roughly $17.5 billion for 2025.
Arsheeya Bajwa, Reuters
Ongoing tariff threats from Washington and potentially sweeping government job cuts have darkened consumers mood and may be weighing on an otherwise mostly healthy economy.
Data released Friday showed that consumers slashed their spending by the most since February 2021, even as their incomes rose. On a positive note, inflation cooled, but President Donald Trumps threats to impose large import taxes on Canada, Mexico, and Chinathe United States top trading partnerswill likely push prices higher, economists say. Some companies are already planning to raise prices in response.
Americans cut their spending by 0.2% in January from the previous month, the Commerce Department said Friday, likely in part because of unseasonably cold weather. Yet the retreat may be hinting at more caution by consumers amid rising economic uncertainty.
The roller coaster of news headlines emanating from Washington D.C. is likely going to push businesses to the sidelines for a time and even appears to be impacting consumers, said Stephen Stanley, chief U.S. economist at Santander, in an email.
The reduction in consumer spending coupled with a surge of imports in January, also reported Friday, as companies likely sought to front-run tariffs led the Federal Reserve’s Atlanta branch to project that the economy would shrink 1.5% at an annual rate in the January-March quarter, a sharp slowdown from the 2.3% growth in the final three months of last year.
Most analysts still expect the economy to expand in the first quarter, but at a much slower pace. Stanley lowered his estimate for first-quarter growth to just 1.25%, from about 2.25%.
Inflation declined to 2.5% in January compared with a year earlier, down from 2.6% in December, the Commerce Department said Friday. Excluding the volatile food and energy categories, core prices dropped to 2.6%, the lowest since June, from 2.9%.
Economists noted that inflation would likely keep cooling, but the progress could be upended by tariffs. Trump said Thursday he would impose 25% duties on imports from Canada and Mexico, though just 10% on oil from Canada. He also said he wanted to double the current tariff on imports from China to 20%.
Trump is also calling for widespread layoffs of federal workers, which could cause hundreds of thousands of job losses and potentially lift the unemployment rate.
Randy Carr, CEO of World Emblem, says the tariffs, if imposed, will force him to raise prices and cut jobs. World Emblem makes patches, labels and badges for companies, universities and law enforcement agencies.
The firm has factories in Georgia and California but it makes about 60% of its products in Mexico. Carr said if the 25% import taxes are imposed, he expects to raise prices by 5% to 10%. He also plans to cut a handful of jobs among the 500 workers his company has in the United States to help absorb the rest of the costs.
Carr said he would also cancel about $9 million in planned investments in artificial intelligence and online commerce.
Its so annoying, he said. Right now you have this volatility, and so you really cant plan anything. You just got to wait until we get a final verdict from from the administration. Its definitely not punishing Mexico, its punishing us.”
The inflation-fighters at the Federal Reserve said in January they planned to keep their key short-term interest rate on hold, at 4.3%, to slow borrowing and spending enough to lower inflation back to their 2% target. The Fed’s elevated rate has contributed to higher borrowing costs for mortgages, auto loans, and credit cards.
The Fed prefers Fridays inflation measure to the more widely-known consumer price index, which rose for the fourth straight month in January to 3%. Fridays gauge calculates inflation slightly differently: For example, it puts less weight on the costs of housing and used cars.
Inflation spiked in 2022 to its highest level in four decades, propelling President Donald Trump to the White House and leading the Fed to rapidly raise interest rates to tame prices. It has since fallen from a peak of 7.2%, and some economists expect it could fall closer to 2% in the coming months, absent tariffs.
The inflation data could be distorted higher at exactly the time when the Fed would otherwise be in a position to declare a win, Stanley said.
One other bright spot in the report was that incomes jumped 0.9% in January from December, fueled in part by a large annual cost of living adjustment for Social Security beneficiaries.
Yet Americans spent less anyway, in particular on cars, where purchases fell sharply. Some consumers could be trying to save money after splurging during the holiday shopping season. Credit card debt surged in December, economists noted.
A big concern right now is whether tariffs will push up inflation, or slow the economy, or in a particularly toxic combination both.
Jeffrey Schmid, president of the Fed’s Kansas City branch, said Thursday he has become more cautious about inflation, in part because Americans are expecting higher prices in the coming months.
But he also said discussions with businesses in his district suggest that elevated uncertainty might weigh on growth. A weaker economy would normally lead the Fed to cut rates, but if inflation remains a threat, it would likely keep rates unchanged.
Many toy companies had expressed relief when Trump announced only a 10% increase in tariffs on products from China because they thought they could share the extra costs with retailers. But a 20% tariff means that many will have no choice but to raise prices. Around 80% of toys sold in the U.S. are made in China, according to industry reports.
Curtis McGill, CFO of small toy maker Hey Buddy Hey Pal, called the move a nightmare scenario.
McGill had just confirmed a price for a toy with one major retailer Wednesday, but then had to withdraw it after he heard about the tariffs. For the year-end holiday season, he estimates his toys will see a 10% price increase.
And Walmart, the nations largest retailer, last week cited uncertainty about the health of the American consumer as it provided weaker-than-expected sales growth estimates for this year, sending shares lower.
Worries about tariffs pushing prices higher have sent consumer confidence plunging, unwinding themodest gains that had occurred after the election.
Christopher Rugaber and Anne D’Innocenzio, AP business writers
AP writer Josh Boak contributed to this report.
An unsubstantiated online theory has recently taken hold, claiming that family vloggers are fleeing Los Angeles to escape newly introduced California laws designed to protect children featured in online content.
In recent years, several states have introduced new legislation aimed at protecting child influencers from exploitation. In September 2024, California Governor Gavin Newsom, with support from former child star Demi Lovato, signed two key bills designed to ensure children and teenagers who perform in online content are protected from financial abuse.
One of the most important bits of the new legislation establishes financial and legal protections for minors featured in monetized online content (i.e. child vloggers) by mandating that their parent or guardian set aside a percentage of their earnings in trust accounts. With the passing of the law, California became the third state in the country to legislate protections for influencer kids, joining Illinois and Minnesota.
Attention has now shifted to influencers whose children feature heavily in their content, some of whom have made seemingly abrupt moves across the country. Videos speculating about the real reasons for these relocations have gone viral, racking up millions of views. But the influencers themselves insist the moves have nothing to do with Californias new laws.
Over the past year, several high-profile family influencers have either relocated from California to Tennessee or announced plans to do so. This includes the LaBrant family, who have 12.8 million YouTube subscribers; TikToker Cecily Bauchmann, who has 2.2 million followers; and Brittany Xavier, who has 5.1 million followers on TikTok.
I feel like thats a little suspicious, one TikTok creator posted. I wonder how many of those are a direct correlation to the fact that now they have to pay their children.
All of the families have publicly denied the new California law influenced their move. Fast Company has reached out to the LaBrants, Bauchmann, and Xavier for comment but has not heard back as of publication.
After users began flooding Xaviers social media posts with comments regarding this theory, the influencer took to TikTok to shut down the rumors. It has been a wild week on TikTok, she says into the camera as she does her makeup. She goes on to cite a mold issue in their rental home as the reason for their hasty relocation. The assumption that we moved to avoid paying our children is so laughable, she says. My income doesnt depend on if my kids are in my videos or not. But weve always made sure to set them up financially regardless.
However, many in the comments remain unconvinced. “‘Found mold’ = laws changed, one person wrote. Another added: Brittany the likes and replies aren’t helping the cause.”
Another theory is that influencers are leaving California due to its political leanings. Xavier herself hinted at political motivations when responding to a comment suggesting she wanted a red state”: CA leadership is a mess at the moment, they need help. Hoping here has competent leadership, we shall see.
Dek: The health supplement company counts investors like Lewis Hamilton and Alex Honnold.
Kat Cole is no stranger to a career pivot. At Hooters, she went from waitress to vice president as she worked her way up the restaurant chain’s corporate ladder. Then, over the course of more than 10 years at Cinnabon parent Focus Brands, she built a career selling sweet treats to consumers.
In 2024, Cole made the leap from selling fast food to health supplements by becoming CEO of AG1 (formerly known as Athletic Greens), which sells a green multivitamin and nutrient powder.
Valued at $1.2 billion in 2022, AG1 has been endorsed by athletes like Olympic runner Allyson Felix and Formula One driver Lewis Hamilton, as well as an endless roster of wellness and fitness influencers. (Some doctors have questioned the need for supplements like multivitamins altogether).
Cole spoke to Most Innovative Companies host Yasmin Gagne about growing AG1s business, the brand’s Ozempic opportunity, and whether she thinks it will ever end up in the grocery aisles.
Listen to our conversation with Cole and a segment with Ankler Awards Editor and Prestige Junkie host Katey Rich, who explains how studios have conducted their Oscar campaigns this year.
https://embed.podcasts.apple.com/us/podcast/how-studios-navigate-the-oscars-race/id1576874503?i=1000694523411
How does a former fast food executive come to run a health company?
There’s a few ways to look at this. One is just the journey that I’ve gone on as a woman, as a mom, and over time how nutrition and health has become more important to me personally. We’re also so much more informed now. Even people who are in their thirties are thinking of healthspan and nutrition. There are things, like my mom getting breast cancer when my kids were very small and she was starting her business, or when I had my kids at 39 and 41 after a few miscarriages in between, that put nutrition and health more squarely in my focus as an individual. Health also became a bigger part of one where I believe consumers were going and therefore what the market opportunity and business would be. I am also a leader experienced running companies at scale, and 10 years ago there werent a lot of scaled healthful nutrition companies that made sense for someone like me to manage. Now AG1 is big enough for me to come in and lead this chapter.
Do you have any guilty pleasures?
I used to say everything in moderation. Now I think that phrase, in some cases, has been used to the extreme where in aggregate, a few things in moderation are no longer moderation. I think very seriously about what my kids see me eat and how we make decisions when I treat myself. But I am a human, not a robot. I treat myself once in a while with an ice cream or a cookieI have a 5 and a 7-year-old
During COVID, sales of multivitamins and supplements in general increased by 50% between 2018 and 2022. AG1 is 15 years oldhow do you compete with the explosion of newer brands in the sector?
In any market, the presence of growth and competition is an indicator of consumer demand. So as it relates to health and wellness, if there are more consumers demanding more options, then that means those consumers are going on a health awareness journey. As a businessperson, that means I’m in the right space. That said, consumers have more options. It can get tougher to appreciate the distinction between those options.
So when I think about the things that are required to stand out today that may not have been on customer’s minds as much 10 years ago. That’s things like human clinical trials and research for supplements that is not required of the industry, but is what we have invested in for years. I think about third-party certificationswe’ve been NSF[-certified] for sport for eight or nine years, which is a third-party certification that not only verifies that what’s on the label is in the product, it also ensures there are no contaminants or doping agents. We pay a third party to keep our product all the way through the supply chain in check. Those are things we’ve always done, but years ago we actually didn’t brag about it. We didn’t market it because there was so much demand. Now we are showing proof of the third party studies we do. It’s a different approach to education information and go to market.
I was surprised to find out theres an even gender split among AG1 customers. I was surprised because I assumed that most would be men into biohacking.
I assumed that as well when I was an early customer. I thought I was this outlier lady. Once I got into the business and saw the demographic split, I wanted to accelerate that shift to a more female customer base. When I joined, it was like 40% or trending that way, and now it’s 50-50. One reason [for your misconception] might be that some of our more popular creator partners thought leaders, academics, people with big podcasts, or platforms were male. The reality is womenand this has been accelerated by COVIDwant to live long and strong. It’s not about being frail or delicate, it’s about fuel, it’s about strength, it’s about power and nutrition.
What I see in our customers is the fastest growing customer group by age is 45-plus. As we get older, we age into new reasons to need to supplement and want to supplement an already healthy lifestyle, and there are new ways to afford a premium product.
Our younger consumers tend to be athletes and fitness enthusiasts who really value their nutrition and take it more seriously. That has evolved over time. Then I started interviewing our customers, our female customers in particular, in the early years when I joined. What I found is they had heard about it from a partner, a trainer, a physician. Their recommender tended to be male in those earlier years. But then they didn’t have as many options being marketed to them as we have now.
Now we’re in an interesting space where our split is 50-50 both for existing customers and new ones joining us, but women in particular are so marketed to in this space. Its confusing. Its difficult to know what to trust, and we have so many distinct life stages, from pre and postnatal, perimenopausal, menopausal, postmenopausal. There’s a lot of support that can come from nutraceuticals or nutrients to help with those life stages. So now the job we need to do for our female customers is being really clear where we fit into their stack and explain why they should trust AG1 in the confusing landscape of supplements.
At Focus Brands, you brought brands like Cinnabon to different sections of the grocery aisle, with products stocked in the snacks section, and the frozen food section, for instance. Are you going to bring the same playbook to AG1?
The core AG1 is this daily health drink in a powder form that people mix on their own in water or put in their smoothies. Retailers love this idea. It’s a very straightforward supply chain. It’s shelf-stable in its packaging, and there is built-in demand that is not necessarily being fully realized by the e-commerce platform. So retailers love the idea of a brand people know but haven’t yet tried. There’s brand awareness, product fit, and the format makes sense. You can imagine some retailers that have a heavy inclination toward sampling and education and letting people try and learn about a product before they buy. That’s the opposite of our current model. If you hear abut it and you go online, the best value is to subscribe. So you’re actually subscribing before you try retail. Some of the retailers can help us reach a customer that we haven’t been able to reach.
AG1’s valuation$1.2 billionis a huge number for a CPG company. And I think we’ve seen a lot of CPG companies struggle to live up to that kind of valuation. You have investors, including Lewis Hamilton and Alex Honnold, who are probably curious when theyre going to see a return. Is the company ever going public?
I wont speak to what the particular outcome is. That valuation was on $160 million in revenue we did that year. January 2022 was peak market fervor, there was a lot of froth. However larger marquee investors who came to the table are supersmart. They saw the fundamentals of the business. We were $160 million in revenue that year, growing at hundreds of percent with an incredible body of opportunity in front of the business. So if you look at what’s happened since then, we were at $160 million at the end of 2021, we’re projecting $600 million in revenue now. We’ve well over 3X the business. So even if valuations have come down to earth a bit, the business has grown unbelievably. And so our investors are very happy.
Do you plan on launching more AG1 products?
Our customers have asked us to launch so many things, but if we did it, it would create confusion. AG1 is foundational nutrition. It’s this idea that first and foremost, the best driver of health from a nutrition perspective is whole foods. Then this idea of something called a foundational nutrition layer, which essentially is nutrients and gut health support. Foundational nutrition is an idea that there is such a thing as a group of supplements that help most people cover many [health] gaps. It’s like the future of what the multivitamin was supposed to be, except no one takes a multivitamin and says, my digestion’s better. No one takes a multivitamin and says, I feel more energy. But they do with AG1 because it’s more comprehensive. This idea of having a foundational routine is the base of the business. As we innovate products, the question is: what do our customers need from us? And I’ll just give you a few examples. Might they be at different life stages? You can imagine what some of those might be that emulate some of the journey multivitamins.
Trump wants to make English the official language of the U.S.and is using an executive order to deliver the action, White House officials tod CNBC on Friday. This marks the first time in the history of this country that it will have an official language.
Trump’s order rescinds a 25-year-old directive from former President Clinton, which required federal agencies to provide services for those with limited English proficiency. According to a summary of the report shared with CNBC, agencies will not be forced to abandon their current policies.
“Agencies will have flexibility to decide how and when to offer services in languages other than English to best serve the American people and fulfill their agency mission,” the summary states. However, the move will encourage “new Americans to adopt a national language that opens doors to greater opportunities.
Trump’s latest order comes amid a swift crackdown on illegal immigration since he took office. Trump deployed additional troops to the U.S. southern border, suspended entry to the U.S. for all undocumented immigrants seeking asylum, and expanded Immigration and Customs Enforcement’s (ICE) authority. The administration has not only encouraged more deportations, but is allowing officers the power to conduct raids in areas that were previously deemed off-limits, such as schools, hospitals, even houses of worship.
As the administration has been working to deport more undocumented immigrants, the numbers haven’t yet topped Biden’s deportation numbers. According to a recent Reuters report, Trump’s deportation numbers are averaging less than Biden’s monthly average during his last year in office. Trump deported 37,660 people during his first monthsubstantially less than the monthly average of 57,000 removals during Biden’s last year in office.
Sources told NBC that Trump has expressed anger that deportations have been taking so long. And last week, amid chatter of the lower-than-anticipated numbers, Immigration and Customs Enforcement Acting Director Caleb Vitello was reassigned.
English is by far the most common language in the U.S., but more than 350 other languages are spoken, according to USA.gov, a truth Trump has often lamented.
“We have languages coming into our country. We dont have one instructor in our entire nation that can speak that language,” Trump said at the 2024 Conservative Political Action Conference (CPAC). “These are languages, its the craziest thing, they have languages that nobody in this country has ever heard of. Its a very horrible thing.”
Do you know how many pens are in the average American household? The answer is 114and Gonzalve Bich, CEO of Bic, the French manufacturing giant for pens, lighters, shaving razors, and more, is likely one of the few people in the world to know that.
Thats because its his job. As the 46-year-old chief executive of the company that was originally founded by his grandfather in 1945, Bich also likely has intimate knowledge of how many disposable razors the typical American uses every year, and how many lighters we burn through as well. But hes also ready to hang it all up at a relatively young age. In December, Bich announced that he would step down by September, and make way for a new CEO to assume the companys reins.
And while many business or political leaders are seemingly unwilling to retire, even at much more advanced agesPresident Trump is 78, President Biden was 82 when he left the White House, and Warren Buffett is 94, to name a fewBich, a relative spring chicken, is ready to focus his energy in other areas.
From “sell more pens to “a human expression company”
Bich tells Fast Company that he feels that age 46 sounded better to try something else and reinvent myself, adding, I did a lot, and I think that there are other opportunities Im equally excited about.
I joined this business over 20 years ago as a family member and held a lot of different positions, he says. When I became CEO, I wanted to transform the business and needed to. Bich notes that when he assumed control of the company, nearly everything was trending in the wrong direction, and that interestingly enough, Bic never really had an overarching business strategyso, he set about implementing one, allowing that to be his legacy at the company.
We never had a strategy. Every year, it was just grow, but there was no concerted plan to take the organization forward in terms of growth, Bich says. And that in terms of overall goals, he says Bic was merely looking to sell more pens, or open another factory. So, he decided to reimagine the companys verticals; and over the past several years, he was able to turn Bic from being a pen company to being a human expression company.
That included strategic acquisitions in some surprising areas, such as the acquisition of Tangle Teezer, a hairbrush company, and Tattly, a temporary tattoo brand. Tattoos are an area that Bich is passionate about, and as Bic digs into the temporary tattoo space, it will offer an expanding range of offerings, including temporary tattoos that can last from a few hours to several weeks.
Its that type of diversification thats helped put Bic in a better financial position and helped Bich become more comfortable with the idea of allowing the company to find a successor. Today, if I hit pause on the movie, Bic is a dynamic organization with people who are highly capable and a brand that is closer to consumers than ever, he says.
Whats next
Looking ahead, Bich says that he has his eye on a number of potential projects, but his immediate attention will turn closer to home.
Specifically, Bich is gearing up for the launch of a foundation thats close to his heart; one that will support projects in and around local communities to help families with autistic childrenwith a focus not only on helping parents but siblings of those children too. Bich, a father of four, has an autistic child, and knows firsthand how difficult it can be for the entire family.
I want to help families in our communities go through this differently, with support and structure, he says. But thats not all. I intend to also have professional activities beyond that, he says, though he remains mum on what, exactly, those could be for now.
Looking back, though, Bich is bowing out at a time when his company is profitable, diverse, and growing. Im proud of our financial results; we get our investors and stakeholders a very healthy return, he says. The numbers speak for themselves: Bics latest earnings report, released February 19, showed sales and profitability increasing company-wide.
As for whats next for the company, Bich says he plans to work with his successor for a smooth handoff, which should be completed in the fall. Succession is absolutely a part of business and a part of leadership, he says.
As such, Bich says, he will pass the pen.
