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NewslettersCEO Daily

Jeff Bezos says his Blue Origin company is exploring space to protect Earth and keep ‘the natural world’ from backsliding

By
Nicholas Gordon
Nicholas Gordon
and
Alan Murray
Alan Murray
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By
Nicholas Gordon
Nicholas Gordon
and
Alan Murray
Alan Murray
Down Arrow Button Icon
March 1, 2024, 3:24 AM ET
Blue Origin founder Jeff Bezos introduces the company's lunar lander "Blue Moon" in May 2019.
Blue Origin founder Jeff Bezos introduces the company's lunar lander "Blue Moon" in May 2019. Jonathan Newton—The Washington Post/Getty Images

Good morning.

Recommended Video

I spent much of this week at the Lake Nona Impact Forum, held in partnership with Fortune, with a focus on health and wellness. As at every executive forum I’ve attended recently, much of the focus was on AI. But while executives in other industries talk about double-digit productivity gains in marketing, technology, finance, supply chain management, sales, etc., health care executives talk about gains in research and development that have a different order of magnitude. Here’s what Emma Walmsley, CEO of GSK, said in her interview with me.

“The biggest problem our sector has to face is the productivity of R&D. It costs billions, it takes decades, and 90% of it doesn’t work.” Applying AI to research “is the holy grail for us. That is where we can create real material value.”

Walmsley, who sits on the board of Microsoft, acknowledged that gains in research, while potentially huge, may take longer to realize.

“Like most extraordinary innovations, we underestimate how absolutely massive the transformation is going to be, and we probably overestimate the pace at which it is going to happen.”

I also spoke with Chip Bergh, who just stepped down as CEO of Levi’s after 12 years on the job. As CEO, Bergh increased the company’s market value five times over, but also was attacked as a “woke CEO” for taking strong stances on gun violence and voting rights. Bergh was unrepentant:

“This is not about me. This is about the role of the CEO at Levi Strauss and Company. We have a history. We’ve been around for 171 years now. Going all the way back to our founder Levi Strauss…the very first year he made a profit he donated a percentage of it to a church orphanage in San Francisco. And he always believed that, yes, we make bluejeans, but we are here to do more than just make a buck for the shareholders. We are here to make an impact on society.”

Jeff Bezos also spoke at the forum, which was held just 50 miles west of Cape Canaveral, about his space company Blue Origin. He said the real reason he is interested in space travel…

“…is to protect this gem of a planet. If you look at it, by almost every metric, our lives are better today than ever before. If you think about the whole world, literacy rates are way better. Child mortality rates are way better. Global poverty is way better. All of these things have gotten better over time. And there’s one exception. The natural world has not gotten better….We can’t go backwards. We need to go forwards. But what does this mean? We need to continue to use more and more resources and also protect this gem of a planet.”

More news below.


Alan Murray
@alansmurray

alan.murray@fortune.com

TOP NEWS

The biggest worry for CEOs

The top concern for CEOs isn’t rising costs, disruption or even geopolitics, according to a recent survey of chief executives from BCG. It’s talent, with 60% of CEOs citing finding, hiring and upskilling workers among their top two long-term management concerns. The AI boom is making talent more important, as both executives and employees worry they don’t have the skills to manage generative AI. Fortune

A scandal at Teflon-maker Chemours

Shares in Chemours, the company behind Teflon, crashed over 30% on Thursday after it put CEO Mark Newman and other top executives on leave. The company will also delay the release of its audited financial reports. In December, the Securities and Exchange Commission said it was looking into some of Chemours’ non-standard accounting measures, some of which were tied to executive pay. The Wall Street Journal

A new CEO at Vanguard

Vanguard CEO Tim Buckley will step down at the end of the year, after spending 33 years at the asset manager. Vanguard’s assets under management grew to $8.7 trillion under Buckley’s six-year tenure as CEO. Vanguard has benefited from the decade-long boom in index investing, with clients shifting to low-cost passive funds pioneered by the asset manager. Bloomberg

AROUND THE WATERCOOLER

Face-scanning AI apps are giving cosmetics companies deeper connections, and selling points, with customers by Rachyl Jones

Brooklyn’s new borough president doesn’t care about the ‘character’ of your neighborhood. That’s ‘not more important than putting people in homes’ by Alena Botros

The guy who bought the first Apple Vision Pro in New York says it’s a ‘bit heavy’ and he doesn’t use it as much as he expected—but he isn’t returning it by Jessica Mathews

It’s Singapore’s turn to benefit from ‘Swiftonomics’—and the city-state’s neighbors fear a reported backroom deal froze them out by Lionel Lim

A $90 trillion Great Wealth Transfer will make millennials the ‘richest generation in history,’ blockbuster report says by Eleanor Pringle

From ‘Britain’s Warren Buffett’ to market sage Rob Arnott, here’s why investor naysayers are skeptical ‘first-mover’ Nvidia will continue to lead the AI boom by Ryan Hogg

This edition of CEO Daily was curated by Nicholas Gordon. 

This is the web version of CEO Daily, a newsletter of must-read insights from Fortune CEO Alan Murray. Sign up to get it delivered free to your inbox.

About the Authors
Nicholas Gordon
By Nicholas GordonAsia Editor
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Nicholas Gordon is an Asia editor based in Hong Kong, where he helps to drive Fortune’s coverage of Asian business and economics news.

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