 |
|
|
|||||
Former Cisco Systems CEO John Chambers learned all about technology’s volatile highs and lows as a veteran of the internet’s early boom days during the late 1990s and the ensuing meltdown that followed the mania. And now he is seeing potential signs of the cycle repeating with another transformative technology as a whirlwind of investments and excitement about artificial intelligence has propelled the stock market to new highs. Chambers took a similarly meteoric ride in his early days running Cisco, which had a market value of about $15 billion in 1995, when networking equipment suddenly became must-have components for the buildup of the internet. The feverish demand briefly turned the firm into the world’s most valuable company worth $550 billion in March 2000 before the investment bubble burst. The crash caused Cisco’s stock price to plunge more than 80% during a period that Chambers still recalls as the worst of his career. Cisco bounced back to deliver consistent financial growth to help establish Chambers as one of Silicon Valley’s most respected leaders before he stepped down as CEO in 2015, but company’s stock price has never approached the peak it reached a quarter century ago. While remaining Cisco’s chairman emeritus, Chambers is now as fascinated by the AI’s transformative powers as he once was by the internet revolution. Only this time he is advising CEOs as a venture capitalist investing in AI startups rather than running a company himself. Chambers, 76, recently discussed the promise and perils of the AI boom with The Associated Press. The interview has been edited for clarity. Q: Does the current AI mania remind you of the internet boom of the 1990s? A: Absolutely. There are a lot of parallels but there are also some spectacular differences. AI is moving at five times the speed and will produce three times the outcomes of the internet age. In the internet age, a startup would develop products for two years and then in year three, they would take that out into the market. Today, AI startups develop the product in a month and sometimes in a week, and then they bring it to market in one or two quarters. In the internet age, there was an irrational exuberance on a really large scale. In this AI one, there is a lot of tremendous optimism that does indicate a future bubble for certain companies. Is there going to be train wreck? Yes, for those that arent able to translate the technology into a sustainable competitive advantage, how are you going to generate revenue after all the money you poured into it? Q: Do you think AI is going to eliminate a lot of jobs? A: It happened with the internet. The problem this time is that if I am right about AI moving at five times the speed of the internet, we are going to destroy jobs faster than we can replace them. Will we be able to replace them over time? Yes, but there is going to be a drought while we have to re-educate lots of people. Q: Does that worry you? A: Big time! Q: What do we need to be doing to be prepared for this upheaval? A: We need to change education. Entry-level jobs, both white and blue collar, are going to disappear fast. We are creating more productivity, but we have to create more jobs as well. If companies start making more money, they are either going to increase the dividend or invest in new areas. Hopefully, the majority will invest in new areas to create new jobs. You will see successful companies expand and grow dramatically, but you are probably going to see 50% of the Fortune 500 companies disappear and 50% of the executives of the Fortune 500 disappear. They wont have the skills to adjust to this new innovation economy driven by AI because they were trained in silos they were trained to move at the speed of a five-year cycle as opposed to a 12-month cycle. Q: Do you think this is one of the most uncertain times you have ever seen? A: Its the most uncertain time on a global basis, ever. I would argue that this is the new normal. With the speed the market is moving at now, you have to be able to reinvent yourself, which most CEOs and business leaders dont know how to do, especially with AI. Q: Whats your view of how Big Tech has been working with President Donald Trump during his second term in office? A: Lets be realistic. Silicon Valley moved right, there shouldnt be any doubt. They did it for economic reasons. And practicality, they did it for their shareholders but also regulation was getting out of control. They werent able to grow and China was plainly beating us. Q: How worried are you about China? A: I think China has full intention to win at the U.S.s expense. In China, there are no rules, there is no intellectual property, there are no issues about misusing the power. They intend to blow past militarily, economically, and in every other way. I do not view them as a partner, I view them as a serious competitor on all fronts and someone I dont trust. I think over time people are going to recognize its in the U.S.s best interest and its in Chinas best interest for us to get along. So go out 10 years, and thats the most likely outcome. But I think the next five years are going to be really bumpy and dangerous. We should have no illusions that they intend to crush us. Michael Liedtke, AP technology writer
Category:
E-Commerce
With foot traffic down and Targets stock still slumping, Taylor Swifts new album release might be the shot in the arm the retailer needs. Target may be in the crosshairs of the culture wars, but the brands relationship with Taylor Swift still stands in 2025. The release of The Life of a Showgirl again brings a suite of special editions to Target as exclusives, luring Swifties to spread their cash around to pick up their favorite variants. But between the retailers faltering reputation and a smorgasbord of album options, will Swifties take their business elsewhere? Targets very bad 2025 In January, Target announced that it would abandon longstanding initiatives tied to diversity, equity and inclusion and stop participating in external surveys focused on diversity, like the Human Rights Campaigns Corporate Equality Index. The news came days after the White House called for a federal ban on DEI programs. In March, Atlanta pastor Rev. Jamal Bryant called for a Target Fast to punish the company for turning its back on Black-owned businesses and Black consumers. When Target broke its promises to our community pledges made after the murder of George Floyd we acted, Bryant wrote on the TargetFast website. Our response was not rooted in cancel culture, but in moral clarity. When Target didnt respond, what began as a limited 40-day boycott extended indefinitely, adding a call for the resignation of Targets CEO. Boycotts dont always end up hurting a companys bottom line, but Target has been feeling the pain well into 2025. Targets DEI retreat in 2025 compounded its previous decision to mute its Pride Month collection, which the company had sold for years. That decision, prompted by a conservative outcry backed by Republican lawmakers, alienated many LGBTQ customers who no longer consider the retailer a top choice when they shop. Targets problems didnt begin this year the companys share price has slumped from its pandemic peaks and trended downward since. But the brands carefree, youthful image has definitely taken a hit from the extended boycott and foot traffic remains down, even through the normally busy back-to-school season. Targets CEO, who has led the company for more than a decade including through its now-distant boom times will depart at the beginning of next year. The Life of a Showgirls many faces The album, released at midnight on October 3, is available as a special limited run vinyl record at Target. The first and only pressing of the The Life of a Showgirl: The Crowd Is Your King edition is available at the retailer for $34.99. The limited edition Target version comes in pearlescent pink and light yellow (summertime spritz pink shimmer, for Swifties keeping track). The record is packed with a collectible double sided poster, new photos and a poem written by Taylor herself. Swifties that find themselves bereft of a record player can opt instead for three Target exclusive CD versions of the album (Its Beautiful, Its Frightening and Its Rapturous) each with a special poster and unique album art for $14.99. Image via Target At Target, every album release is a chance to celebrate with our guests, Targets Senior Vice President of Merchandising Cassandra Jones said in the companys pre-sale announcement. Taylor Swifts The Life of a Showgirl is already the years biggest music moment, and were giving fans even more reasons to get excited. From exclusive vinyl and CD editions available only at Target to midnight releases and curated music experiences in our stores, were proud to be a destination where fans can discover, connect and take home something truly special. Target isnt the only option for Swift fans hunting for special vinyl, but it might be the only choice left for fans who missed the pre-order windows. Dyed-in-the-wool Swifties likely already pre-ordered the red or white variants of the Tiny Bubbles in Champagne Vinyl Collection directly or the lovely bouquet golden vinyl or lakeside beach blue sparkle vinyl variants, which sold out quickly through Swifts online store. The Life of a Showgirl: The Shiny Bug Vinyl Collection featuring special violet shimmer marbled vinyl and wintergreen and onyx marbled vinyl similarly sold out quickly, and is naturally all over resale websites at marked up prices. Taylor Swift speaks out Swift has broken her historical reluctance to wade into political and cultural issues in recent years. She unequivocally denounced President Trump in his first term for stoking the fires of white supremacy and racism during the protests over the murder of George Floyd, throwing the weight of her Swiftieverse behind voting him out of office. In late 2024, she backed Kamala Harris in the vice presidents last minute run, encouraging her fans to register to vote and make their own informed choices. Im voting for @kamalaharris because she fights for the rights and causes I believe need a warrior to champion them, Swift wrote in an Instagram post. I was so heartened and impressed by her selection of running mate @timwalz, who has been standing up for LGBTQ+ rights, IVF, and a womans right to her own body for decades. Swift signed off as a childless cat lady, a dig at JD Vance. While Swifts politics dont square with Targets retreat on LGBTQ and racial justice issues, her deal with the company is nothing new. Swift has been selling exclusives through Target since at least 2008, when the retailer offered a unique collectible poster version of her album Fearless. For The Death of a Showgirl, Swift even devoted some of her prime Instagram real estate to a Target ad that depicts the star directing an awkward version of herself on set, tossing glitter at a giant sparkly pink vinyl record while almost falling over. Swift isnt alone: Artists including Billie Eilish and Kendrick Lamar have promoted their own Target vinyl exclusives since the cultural fallout around the company began. Olivia Rodrigo, boygenius, Harry Styles, Lana Del Ray and many other musicians have sold their own unique vinyl exclusives through the retailer in recent years. Last year, Target carried an exclusive phantom clear vinyl pressing of Swifts release, The Tortured Poets Department, which the company said broke its record for the largest music pre-order in its history. Over the years, Target has offered at least 13 unique versions of Taylor Swifts albums, counting The Life of a Showgirl. While Swifts ongoing Target deal might not sit well with many Swifties given the companys recent direction, only time and sales numbers will tell if the allure of that sparkly, pink record proves too much to resist.
Category:
E-Commerce
The idea of meditating can be intimidating. Beginners may imagine sitting uncomfortably in silence while breathing deeply and scrubbing all thoughts from their minds. The prospect of trying those techniques at work may feel embarrassing. But there are ways to bring short, inconspicuous sessions into the workday if you want to see if meditation can help you deal with challenging customers or reduce anxiety while preparing for a presentation. And experienced practitioners say there’s no right or wrong way to do it. Meditation is quite easy, as a matter of fact. I think theres a stigma around it, that you have to be in complete silence, and you have to have some room setup, or do some chanting, or some serious breathing, said Michelle Beyer, a wellness coach who owns the Brooklyn womens gym Alana Life & Fitness. Theres one-minute meditations you can do to make yourself feel great. Nobody will even know youre doing them.” While there are different meditation techniques, many traditions encourage focusing on breathing to help calm the mind. When thoughts pop up, imagine letting them go. Practitioners say meditating before or at work helps them maintain focus, sit still and reduce stress. There is a calm that I am definitely missing when I have forgotten to do it for a few days, said Brianna Healy, who meditates for 10 minutes daily before starting her job as assistant director of strategic initiatives and data solutions at Naropa University, a college in Boulder, Colorado, that is inspired by Buddhist principles. I can always tell the difference in my demeanor.” If you feel pressed for time, try fitting meditation sessions into breaks. You can set a timer and focus on breathing while sitting at a desk, in a restroom, inside a vehicle or outside, Beyer said. Here are some easy mini-meditations to try out on the job. A pre-work pause Commuters can consider getting to work a little early and taking a pause in their cars or a quiet location to decompress from getting out the door and to your destination, said Kathryn Remati, a meditation teacher and author of Befriend Yourself. If you only have a minute or two, that’s still enough time to try Remati’s instructions for a quick reset. Close your eyes and take a long, slow, deep breath to fill your tummy and lungs with air, she said. Hold the breath for a second, and then slowly breathe out like you’re blowing out a candle. “Youll immediately feel a shift and youll feel like a human again, Remati said. While repeating that process, consider setting a positive intention, or goal, for the day. Instead of focusing on a to-do list, think about how you want behave towards others, she said. Some intention examples are, Today Im going to be productive, but Im also going to a good listener or I want to have a positive attitude, she said. Picture your bliss Visualization is another technique that experienced meditators use. Picture yourself succeeding at the challenges youll encounter that day. If theres an upcoming deadline, envision yourself finishing the task 10 minutes early. Jumping for joy. Get specific like a movie director and imagine the colors in the room or the feeling of wind on your face, Remati said. Throughout the day, you can bring up that image anytime you need it to refocus, she said. You can also use visualization to reframe your perspective on colleagues or clients. A technique Remati recommends putting into practice before meetings may seem quirky: Envision a white light over the meeting room’s doorway that showers the people entering with brightness. Remati says it may help you imagine them in a better light. You can even put some sort of pink bubble around people,” she added. Body scan Another short meditation that can be done almost anywhere involves breathing deeply and mentally scanning your body for sensations, a technique popularized in the U.S. by mindfulness practitioner Jon Kabat-Zinn. Depending on your location and comfort level, you can keep your eyes open or closed. Inhale through the nose and out through the mouth. Start with your feet and work your way up, noticing any areas with pain, tightness, tingling, warmth or other sensations. Think about relaxing the muscles of any spots where there’s tension. Youre intentionally scanning your body, Beyer said. Youre thinking about, how do your feet feel in your shoes? How do your ankles feel? Knees, hips, ribs, shoulders, neck, head, and by the time you know it, you checked in with every part of your body.” Finger and thumb Another discreet meditation technique is breathing deeply and joining your pointer finger to your thumb to form a circle. You can do this if you feel your stress level rising. Say to yourself, whenever I put my finger and thumb together, I will be able to be peaceful and open-minded, Remati said. If you’re in a meeting and start to feel resentful or left out, you can do it under the table, and no one will know, she added. Remati does this herself if she notices she’s becoming judgmental or short-tempered. You just do the finger and thumb, take a nice deep breath, get grounded, and then get back into the meeting and feeling positive, she said. Inhaling in and humming out One of Beyer’s favorite techniques is best done when there aren’t a lot of people nearby. Truck drivers can do it in traffic. You inhale, and then when you’re breathing out, you hum with your lips closed, she said. It’s going to immediately take down stress levels in the body and even in the mind, Beyer said. When you inhale and you focus on humming, then your brain is focused on that, not the what ifs’ or the worries that like to take over when we feel stressed. If you feel self-conscious about humming in a quiet office, you can step outside or head to a noisier place. Shoulder and jaw release The shoulder and jaw release technique also may help relax the bodies of train passengers or drivers or stuck in traffic, Beyer said. To start, inhale through the nose and exhale through the mouth. Repeat that, and then on the third exhale, roll your shoulders back. Inhale a fourth time and then on the next exhale relax your tongue and jaw, Byer said. Finally, inhale again, bring your attention to your hands and just let them hang heavy, she said. Then breathe in and out a sixth time. Mantras and affirmations Another technique Remati encourages is saying mantras or affirmations, which are positive statements or slogans you repeat to yourself. You can write them down and say them in your head or out loud while breathing deeply, before a meeting or at any point throughout the day. Some phrases you might say: I am calm.” Deep breath. I am confident. Deep breath. “I am ready for success, Remati suggested. I speak my truth. I am patient. I am here for the highest good of all. ___ Send your workplace questions and story ideas to cbussewitz@ap.org. Follow APs Be Well coverage, focusing on wellness, fitness, diet and mental health at https://apnews.com/hub/be-well. Cathy Bussewitz, Associated Press
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||