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Hello and welcome to Modern CEO! Im Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company. If you received this newsletter from a friend, you can sign up to get it yourself every Monday morning. In the summer of 2000, moviegoers flocked to see Gladiator and Mission: Impossible II, Finlands Nokia was the leading maker of cellphones, and American telephone companies Bell Atlantic and GTE completed their $52 billion merger. They changed the entitys name to Verizon Communications. Im not big on writing about company anniversariesto me they seem like the corporate equivalent of Hallmark holidays. However, as a business journalist in the late 1990s and early 2000s, a big part of my job was to chronicle the regulatory and technological changes that led to the formation of Verizon 25 years ago. Ive interviewed all of Verizons chief executives, going back to its original co-CEOs, Chuck Lee and Ivan Seidenberg. And I wanted to speak to current CEO Hans Vestberg about the state of telecom today and how hes positioning the company for its next 25 years. Making a big request For Vestberg, who became CEO in 2018 and led the companys launch of its fast, low-latency 5G wireless technology, that means future-proofing the business by investing in its network. In 2021, Verizon pledged more than $52 billion to acquire wireless airwaves auctioned by the U.S. government. (For context, Verizons annual operating revenue last year was about $135 billion.) Vestberg says the purchase sets the company up to deliver products and services well into the next decades. I promise you, 25 years from now, we are going to be the leading telecom company in this country, he says. To do that, he says, you need spectrum, or radio frequencies for wireless communications. Vestberg says the board of directors supported his massive spending request. Our board is committed to think long-term, he says. Investors have been less enthusiastic. The companys stock price is about $42 a share, roughly where it was trading in early 2021, when it agreed to buy the spectrumand the company underperformed the broader market in that time frame. An investment in the future Vestberg notes that today, phone calls and text messagesthe main applications for wireless phones when Verizon was born 25 years agorepresent about 3% of the networks total usage. Nearly half of the usage is for streaming movies, games, and other digital fare. He says he believes the capacity and design of Verizons network will allow the company to accommodate new technologies that will flow over its airwaves and fiber. Im here to manage the legacy of my predecessors and see that this company continues to be the number one in everything were doing in this market, he says. Future-proofing your business How are you future-proofing your company for the next 25 years, and how do you get your board, investors, employees, and others to support your plans? Send me examples of your strategiesId love to share your stories in a future newsletter. Read more: birthday bashes LinkedIn turns 20: An oral history of an unlikely champion 50 stories celebrating the 50th anniversary of the moon landing 4 pitfalls to avoid when navigating corporate anniversaries
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CEOs have become more than just corporate leaderstheyre among the most valuable assets on the balance sheet. Great leadership can drive billions in market cap by shaping narratives and galvanizing stakeholders. But what happens when the communication tools they use to build credibility start to erode it? Were entering a new era in CEO communications, one where human messages increasingly filter through the lens of AI. Analysts and investors have long leaned on AI-powered language models and sentiment analysis to dissect earnings calls, parsing executive tone, word choice, and delivery for signals on strategy, risk, or future performance. Now, CEOs and their teams are flipping the scriptcrafting messages with the help of generative AI to appeal to the very same systems analyzing them. Its a feedback loop of machines talking to machines. And while the tech arms race might make earnings calls look polished and sentiment scores spike, it also risks creating a sentiment gap. In the end, credibility is still the most valuable currency in leadershipand AI cant replace that. The CEO Premium Meets the AI Arms Race Corporate valuation has always been about more than just numbers. Investors have baked intangibles like brand equity, leadership narratives, and cultural impact into their models. As NYU finance professor Aswath Damodaran puts it, valuation is as much about a companys story as it is about spreadsheets. The CEOs job is to integrate those stories with their strategies. Jensen Huang didnt make Nvidia a trillion-dollar company because of flawless financial executionhe did it by selling a vision of AI as the engine of the future, powering everything from healthcare to climate solutions. Thats the CEO premium in action: the ability to turn a strategic story into market-moving value. But heres what no ones saying out loud: when that story is over-engineered with AI, something critical is lost. Consider this: Bank of Americas S&P 500 corporate sentiment tracker, based on an analysis of thousands of earnings transcripts, hit an all-time high earlier this year, even as analysts lowered growth expectations for 2025. The disconnect is stark. While executives are optimizing their tone and language to look and sound bullish, its masking underlying realities. Were looking at a sentiment bubble, where polished communications are designed to impress algorithms but are creating distance from actual performance. The result? A risk to long-term stakeholder confidence and broader market integrity. The Credibility Gap is Realand Risky AI-powered communications is an incredible asset. It can help executives sharpen their messages, anticipate audience reactions, and streamline delivery. But when it starts to obscure realityor worse, is used as a veilit risks blowing up the most important thing any CEO has: credibility. Markets thrive on credibility. Investors place a premium on CEOs who communicate clearly and consistently, and are transparent about their strengths and challenges. When communication becomes engineered for algorithms rather than stakeholders, it creates a hollow effectpolished on the surface, but leaving questions below. This is more than theoretical. A recent study published in Harvard Business Review found that employees rated CEO messages as less helpful if they thought the message was AI-generatedeven when it wasn’t. Perception alone was enough to damage trust. That finding underscores the growing credibility risk CEOs face when misusing or leaning too heavily on AI. What CEOs Need to Do Now So where does this leave us? The CEOs who win in this new reality wont be the ones with the most AI-polished messagingtheyll be the ones who balance technology with authenticity. Heres how: Speak to Stakeholders, Not Just Algorithms: Say what you mean. Own the hard truths. AI should enhance a message, not sanitize it. AI-generated communications might score well with language models, but stakeholdersinvestors, employees, customersarent grading on polish. Theyre looking for clarity. Anchor Narratives in Performance: Narratives drive valuation, but theyre meaningless without numbers. If the results are strong, show your math. If theyre weak, explain why. Dont let AI overinflate optimism. Instead, use it to sharpen transparency. Ensure AI Augments, Not Replaces: AI is great for refining delivery and identifying blind spots, but it cant replace human judgment or instinct. Companies that over-rely on AI-driven clones or sentiment engineering risk losing the real connection that drives stakeholder engagement. Anticipate the Credibility Pivot: As sentiment inflation continues, markets will inevitably adjust. Investors will begin looking for the next differentiator, pivoting from polished delivery to deeper signals of authenticity. CEOs who lean into direct, unvarnished communication will stand out. Get Ahead of Whats Coming: The tools analyzing your every word are only getting more advanced. The only sustainable strategy? Consistency. Authenticity. Messages that hold up under scrutinyalgorithmic or human. If your leadership story cant survive deep analysis, it was never leadership to begin with. The Way Forward: Still a Human Game AI is reshaping the rules of executive communications, but the most successful leaders will recognize that technology is a supporting actnot the star of the show. At the end of the day, the algorithms dont close deals, inspire employees, or build relationships with customersCEOs do. In this next chapter of leadership, The CEOs who win wont be the ones scoring highest on sentiment trackers. Theyll be the ones who use AI responsibly, stay grounded in performance, and lead with clarity and authenticity. Because when machines talk past each other, the whole system breaks down. Credibility is still the most valuable asset a CEO has. And no algorithm can replace that.
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For some in Hollywood, as Silicon Valleys AI models have become impossible to ignore, its better to have a seat at the table as these new technologies emerge, rather than sitting back and letting the tech titans take full control. This, at least, is the impetus behind Asteria, the generative AI studio cofounded by the filmmaking couple of Bryn Mooser and Natasha Lyonne, who promote their company as using ethical AI. Lyonne has justified her embrace of the technology by explaining: Its better to get your hands dirty than pretend its not happening. The company has faced some backlash, both because Lyonne (tastelessly, her detractors would argue) claimed the late David Lynch had endorsed AI, and because its flagship model is proprietarymeaning we have no way to verify that it is indeed trained only on licensed material (as Lyonne and co. say it is). Meanwhile, James Cameron is on Stability AIs board, and has expressed his hope for using AI to make blockbuster filmmaking cheaper. Jason Blums Blumhouse Productions has partnered with Meta for AI testing and chatbots. Lionsgate signed a deal with Runway, an AI startup valued at $3 billion, to let the company train its model on the studios 20,000+ films and TV series; Runway also signed a deal with AMC. This embrace of AI, though, puts the James Camerons and Natasha Lyonnes of the world at odds with industry peers who are opting to push back on these would-be robot overlords before they take over. Studios are understandably wary of copyright infringement, especially since generative AI models trained on publicly available data can reproduce intellectual propertyfor example, creating an image of Elsa from Frozen upon request. That concern is at the heart of several ongoing lawsuits against AI companies, including one from Disney and Universal against Midjourney, which includes dozens of side-by-side pictures comparing the studios own IP to Midjourneys outputs. Meanwhile, last year Disney formed an Office of Technology Enablement to oversee how the company can responsibly use AI in postproduction and VFX, among other initiatives. This demonstrates the balance Hollywood is trying to strike, with attempts to protect whats theirs while ensuring they are not left behind by these technological developments. Tensions are running high. Are you on board, or standing in the way? Nuanced decisions being made by studios, producers, investors, and talent right now will determine whether Hollywood will look recognizable in a decade. Similar tensions have sprung up before in Hollywood. Past introductions of television, cable, streaming, and more have sent shivers down the spines of studios and their labor forces alike. In each instance, when you are fighting for the right to continue running your business, its understandable that you would leave no stone unturned, says Brandon Katz, director of insights and content strategy at Greenlight Analytics. The issue is finding the right approach, as the use of AI in the creative industries remains deeply contentious and presents a different sort of multitiered threat. As Katz understands it, the studios are trying to preserve as much as they can before the machine takeover, as it seems clear that this technology is inevitable. This means everything from licensing content to train AI, cutting production costs by streamlining visual effects, dubbing and subtitling more efficiently to serve global markets, and flirting with full generative production. It is that final one, of course, that tends to draw the most scrutiny. We are enduring a painful contraction of the entertainment industry, Katz says, because legacy media doesnt have the same money to play with that they once did, so these companies need to figure out cost-cutting moves. It is unfortunate that the result is not only job cuts but reliance and embracement of technology that might otherwise replace some of the creative human labor force. With this in mind, Hollywoods unions are unsurprisingly deeply invested in how AI use in the industry develops, and the technology was key to the writers and actors strikes in 2023, when they won protections from nonconsensual cloning of actors and from AI scripts. Duncan Crabtree-Ireland, executive director of the Screen Actors GuildAmerican Federation of Television and Radio Artists, tells Fast Company that since then, the industry has largely taken a more cautious approach to the technology. He notes that people think they have a right to their own image, but they donthe should know, since he himself was subject of a deepfake video during the strikes. The union is advocating for the No Fakes Act in Congress, to protect individuals from the misuse of their likeness (some argue the Act could actually do more harm than good). As efforts like Asteria and Runway have emerged, he adds, we want to make sure to talk to every single company that wants to use this technology. Meanwhile, various courts are regularly issuing (often contradictory) decisions, including a recent win for AI companies in California which ruled that these companies do not violate fair use law when they train their models on copyrighted material. As both the tech itself and the discourse and legislation around it rapidly develops, Crabtree-Ireland recognizes that the union represents vast swaths of performers with different attitudes, as many want to find ways to use AI as a tool, while others (he estimates 10 to 15%) would prefer to prohibit it completely. From the unions perspective, though, what were able to do best is focus on the core principles of informed consent and intended use, so performers not only give their consent but are also told exactly how their likeness or image will be used by the technology. The bigger question is whether audiences will accept what these companies intend to do with AIand the way these backlashes have played out is not going unnoticed. Crabtree-Ireland says performers have been protected by the uncanny valley for longer than we expected, as even the best models today still look rather unnatura. Nevertheless, itd be irresponsible to keep counting on that, or to assume that audiences wont [start to] respond to it. Were focused on making the right push, contractually and legally, he adds. We want to be able to channel how this technology is going to be used. Katz points out that AI is also a boon to the creator economy, and will almost certainly help to further close the gap between professional and amateur productions, as YouTubers like MrBeast have already proved. Can they approximate 50 to 75% of what a Warner Bros. can do for a fraction of the cost? Katz says about how online creators will make use of AI. What kind of bite does that take out of Hollywood? The only thing that is certain as workers of all kinds struggle to carve out their place in the future of entertainment is how little anyone seems to know.
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Van Nuys Airport in Los Angeles is one of the countrys busiest general aviation hubs, as residents nearby can attest. Those who live near the airport say they hear a relentless roar of planes overheadbut none of those flights are commercial. Instead, Van Nuys serves private air travel, and its where celebrities like Kim Kardashian and Elon Musk store their private jets. Van Nuys is also the third most polluting private airport in the world, according to a new study from the International Council on Clean Transportation (ICCT). Its also just one example of the way private jet use has been growing, particularly in the United States. Of the 20 largest airports for private jet use, 18 are located in the U.S., including Van Nuys, Palm Beach International Airport, and New Jersey’s Teterboro Airport, which is just 12 miles from midtown Manhattan. (The other two top airports for private jets were located in France.) [Image: ICCT.org] Private jets come with a huge carbon footprint. One typical private jet emits the same amount of greenhouse gasses per year as 177 cars. And the use of private jets has been increasing. ICCT estimates that private jets produced up to 19.5 million tonnes of greenhouse gas emissions in 2023, a 25% increase over the past decadeand equivalent to driving nearly 50 billion miles in an average gas car. Aviation overall accounts for 2.5% of the worlds emissions. But how you fly can change your personal carbon footprint. On a commercial flight, those spacious business-class seats are responsible for up to five times as many CO2 emissions as seats in economy. That means people who take private jets, which typically have between six and 19 seats, are responsible for an even bigger share of emissions. [Image: ICCT.org] Private jet use accounts for about 2% of global aviation emissions. In 2023, global private jet flights collectively emitted more greenhouse gasses than all flights departing from Londons Heathrow Airport, which is the busiest airport in Europe. Private jet flights also tend to be quick jaunts: less than 900 kilometers, and lasting fewer than two hours. (Short haul flights produce a disproportionate amount of emissions, accounting for about a third of aviations total carbon footprint.) [Image: ICCT.org] And most of the private jet flights happen, or at least start in, the U.S. Two-thirds of all private jet flights in the world departed from U.S. airports in 2023, accounting for 55% of all private jet emissions globally. Private jet use here has made headlines multiple times, as people have tracked Taylor Swifts personal plane journeys or the fact that Starbucks CEO Brian Niccols would be using a business jet (a type of private jet) to commute from his home in Newport Beach, California, to the companys headquarters in Seattle. The U.S. is so flush with private jets that Florida and Texas together were the source of more private jet flights and greenhouse gas emissions than the entire European Union. When it comes to curbing private jet use, some policymakers have floated the idea of taxing private jet emissions or fuels. In 2023, Congress introduced legislation to raise private jet fuel taxes from $0.22 to $1.95 per gallon, which would essentially be $200 per metric ton of a private jets CO2 emissions. While that proposal didn’t gain much traction, the tax proposal has recently been reintroduced. Such a tax, the ICCT report estimated, could generate $3 billion annually for decarbonization efforts. Given the slow pace of technological progress, said Dan Rutherford, ICCTs Senior Director of Research, in a statement, its reasonable to charge ultrawealthy travelers more for their pollution.
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Every entrepreneur faces challenges on their professional path. Many women, in particular, share experiences of doubt and difficulty in making their voices heard. But rest assured, there are tried-and-true ways to get you past these speed bumps and back onto the right track. In my two-decade career at Christies auction house, I learned to navigate these dynamics. And when I eventually left to start my own talent agency, I had to use strategies I learned from my time in the male-dominated corporate world to get buy-in from new clients. My ability to speak up in rooms full of men, pitch ideas to them, and feel confident doing so proved to be critical. The truth is, entrepreneurial life can have a higher barrier to entry for many women. But common obstacles dont need to stop you in your tracks. Here are five hidden roadblocks women should anticipateso you, too, can approach any business challenge confident in your ability to own it. Decision-makers dont look like you A common issue women face when they walk into a pitch meeting is a room full of people who dont look like them. As a result, when they start to pitch their product or idea, the people in the room cant relate and the deal falls apart quickly. But knowing this will likely be the case gives you all the power. Do your research before you walk in the room so that you know exactly who you are going to be pitching tothat way, there are no surprises. Find out as much as possible about everyone who will be in the room so that you can find a natural point of synergy to connect you. Since youve done the prework, you can ask leading questions that will steer the conversation in the way that you want. Dont hesitate to practice your pitch on friends who might be similar to the people you are about to pitch to, so they can punch holes in your presentation. The more prep work you do, the easier pitch day will be. Juggling invisible labor Are you drained at the end of the workday, only to walk in the door at home to find that you are in charge of everything there, too? The second shift is a common trap for working women. And it can stop today. Have conversations with your partner early and often about dividing invisible work at home. The sooner you get into a rhythm where youre both aware of what it takes to keep a household moving, the less time you will spend arguing about it. Together, list out everything that has to get done around the house, and allocate it according to the things you are good at or like to dountil you get to the tasks neither of you want to do. Tackle those together. You cant do it alone, nor should you. Limited access to funding Women have access to less than 3% of venture capital money; its a shocking disparity that bears repeating. So be loud. This statistic will only improve the more we talk about it. Tell anyone and everyone who needs to hear it that women need more access to capital. If youre a woman seeking VC money, get in touch with organizations like Female Founder Collective or Female Founders Fund, who help connect women with potential investors (and invest as well). Make the issue known, and align yourself with communities working to solve it. Limited access to networks My father always says network or diemeaning not that youll die if you dont network, but your network certainly will. Fewer women than men in positions of business leadership means that curating connections is essential. If you find that your network isnt growing, or your world seems small and you need a larger reach, its time to take matters into your own hands. Organize a breakfast with a friend and ask her to invite six people you dont know. Do the same with your network. Make it meaningful, not just transactional. At the event, let each person talk about their work and life, then ask a question that everyone at the table has to answer. Artificial timelines The world of constant updates that we live in can make success seem easyas though if you arent killing it all the time, you arent successful. If you find yourself scrolling on social media, concerned that everyone else is miles ahead of where you are supposed to be, say this to yourself as often as you need to: I am living life on the timeline I am supposed to be on. Things will happen when they are meant to happen and not before. I am exactly where I need to be. You will arriveroadblocks in your rearview mirror.
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