Good morning,
If we are in a recession, it’s a funny one. In our new poll of Fortune 500 CEOs, a full 60% say they will increase the number of people they employ in 2023, while only 25% say their employee count will shrink. And when asked about the greatest threat they see on the horizon, only 26% said recession, which was just slightly higher than the 22% who cited cybersecurity threats, 16% who cited inflation, and 13% who mentioned geopolitical tensions.
When asked which of their fellow Fortune 500 CEOs they admired most, the Fortune 500 CEOs’ most frequent answer was Jamie Dimon. (We didn’t ask whether they think—like Bill Ackman—that the JPMorgan CEO should run for president.) Second on the list was Microsoft’s Satya Nadella, and third was Apple’s Tim Cook. You can find a summary of the poll results this morning here.
Separately, with all the noise around generative A.I., I found Sanofi CEO Paul Hudson’s take on the issue comforting. Hudson met virtually yesterday with the Fortune Connect fellows, a group of next-generation leaders who meet to share ideas around building better companies. His main piece of wisdom for the group on A.I. was this: “The fear is less than the opportunity.” Some excerpts:
“I have never been more excited about the opportunity to change the way we do business. I am staggered by the opportunity…We haven’t even begun to imagine the possibilities of generative A.I. How to do things that have never been done before to make life better for everybody. How to make everyday life better so people’s work will be more interesting…We have a lot of Rubicons to cross on all of this, but there has never been a more exciting time to lead a company, and a health care company in particular.”
Hudson talked about the responsibility that comes with running a large company:
“As you become more senior, you have more ability to impact. It’s not about you and your title, it’s about having a chance to do something…“
And he said that understanding A.I. will be a critical skill for the next generation of CEOs:
“The requirement for the next set of CEOs will be very different. What got me here will not get them there…They will need to have a big data experience. It will become a minimum expectation.”
More news below.
Alan Murray
@alansmurray
alan.murray@fortune.com
TOP NEWS
Lululemon sprint
Athleisure company Lululemon reported a 79% year-on-year jump in China sales, as Chinese customers go on shopping sprees after COVID-zero restrictions. The company earned $2 billion in global revenue last quarter, beating expectations. Lululemon’s shares surged by 13% in after-hours trading. CNBC
Starlink
SpaceX now has a U.S. government contract to supply satellite internet to Ukraine, the Pentagon announced Thursday. Ukraine’s armed forces use the company’s Starlink service to communicate on the front lines. SpaceX CEO Elon Musk has previously complained that the service was too expensive for the company to fund on its own. Reuters
Japan population
Japan’s government will spend $25 billion to boost the country’s flagging birthrate, Prime Minister Fumio Kishida announced Thursday. New births fell to the lowest point in recorded history last year, and the country could be missing as many as 11 million workers by 2040. Yet the government ruled out tax increases to fund the new policies amid speculation of an upcoming snap election. Bloomberg
AROUND THE WATERCOOLER
Twitter’s head of trust safety Ella Irwin has resigned, Slack account is deactivated, according to sources by Kylie Robison
From firing 9,000 people after a buyout to earning the nickname ‘The Terminator,’ this is how LVMH CEO Bernard Arnault made his money by Orianna Rosa Royle
Tech layoffs are the highest they’ve been since the dotcom bubble burst 22 years ago while media job cuts are even worse by Rachel Shin
‘What’s happening in the office sector is apocalyptical’: This commercial real estate CEO says the crash has already started by Alena Botros
Amazon’s Ring and Alexa privacy charges include lessons for the whole tech industry by David Meyer
Commentary: How the A.I. revolution is liberating workers from the return to the office by Gleb Tsipursky
This edition of CEO Daily was curated by Nicholas Gordon.
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