By Alan Murray and David Meyer
June 28, 2018

Good morning.

How can you tell if your company is truly committed to the future? That’s one of the questions we wrestled with this week at the Fortune CEO Initiative, because companies that focus on short-term results are less likely to be adding value to society. “If you make a decision based on short-term investors,” Apple CEO Tim Cook told the group, “you are going to make a terrible decision.”

Fortune has worked with Martin Reeves at BCG’s Henderson Institute to answer that question, developing the methodology that drives our annual Future 50 list. But during a working group session Tuesday, EY CEO Mark Weinberger offered an alternate approach.

EY’s most valuable strategic resource, he said, is its people. (Every other CEO in the room concurred.) So if you are trying to measure your commitment to the future, why not start by asking your employees? Weinberger is planning an annual survey, conducted by an outside group, to keep track of employees’ engagement and focus on innovation. In a world where human capital matters most, that seems the right place to start.

Separately, Google Cloud CEO Diane Greene spoke last night at the Fortune Most Powerful Women dinner in San Francisco. My colleague Pattie Sellers asked Greene how she planned to compete with the giant of the cloud business—Amazon. “This is a trillion dollar or more industry. It’s still pretty early for an industry with lots of headroom,” she said. “What Amazon has is a lot of developer mind share, because they were there first. But we have better technology, we have a better cloud, we have the largest network” as well as “better analytics and better machine learning.” So take that, Jeff Bezos!

More news below.

Alan Murray
@alansmurray
alan.murray@fortune.com

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