It was hotter than hell last week in Park City, Utah, when an early season heat wave descended over the American Southwest. You’d think 8,000 feet of altitude would help.
It did. A little.
But the technologists in Silicon Slopes, as the area stretching from Salt Lake City to Provo is sometimes known, could not have been cooler. Might be all that dirty soda.
On a visit just five weeks before our annual Brainstorm Tech summit—register to attend here, but act fast—I met with more than two dozen founders, technologists, executives, and investors.
To end our conversations, I offered them the same prompt: What is the most pressing question or issue on your mind for the year ahead?
Here’s what they said, edited for brevity.
It’s the economy, stupid
Dave Grow, president and CEO, Lucid Software, which makes visual collaboration software: “What’s going to happen with the broader economy—certainly in the context of our business. Things have been challenging in tech these last few years. It would be nice to have that crystal ball.”
David Neeleman, founder and CEO, Breeze Airways, a startup airline for underserved routes: “The election, obviously—we have two difficult choices. The election and the economy go hand in hand…it’s not often that you can compare two candidates’ presidential terms side by side.”
This thing called AI
Zig Serafin, CEO, Qualtrics, which makes experience management software: “The rate at which people will focus on the pragmatics of AI—where the rubber hits the road, the here and now. What’s the rate at which that will happen?”
Marcus Bertilson, COO, Weave, which makes communication tools for small businesses: “How do we capture the enormous opportunity we’re sitting on? AI needs to be super practical.”
Eat, sleep, crush, repeat
David Wright, cofounder and CEO, Pattern, an e-commerce accelerator: “We will only win if we can bring in the top 10-15% of talent…That’s by far number one.”
Brian Crofts, CPO, BambooHR, which makes human resources software: “At a time where you see headwinds, people divesting, consolidation, and layoffs, we’re spending a ton of R&D. Have we made the right bets so when we come out of it, we’re stronger, faster, better? It’s the opportunity cost of getting it right.”
Branden Neish, CPO and CTO, Weave: “How do we put together a team that can deliver on our vision? We have to have an all star team and processes and a culture where we care so deeply and do all the things we need to do to get there.”
Houston, we have a problem
Mike Riemer, field CISO, Ivanti, an IT security company: “The human factor when it comes to cybersecurity. More than 80% of all data breaches are a result of the way people interface with technology [and] human behaviors that are not easily changed. If we make the security controls more stringent, the human behavior is to find ways around the controls.”
Brooke Johnson, chief legal counsel, Ivanti: “In response to years of sophisticated and costly cyber-attacks, the regulatory landscape in Europe and the U.S. is changing and will likely force the software industry to evolve in how it develops and maintains products. With the introduction of generative AI, I anticipate increasingly advanced pressures from nation states and other threat actors.”
Why can’t we all just get along?
Adam Edmunds, CEO, Entrata, which makes property management software: “I feel that we’re losing a sense of community and connection with each other. You look at social media and the amount of fighting that happens…a lot of pieces of community are falling behind because we’re busy fighting about stupid things. The polarization isn’t real. You can sit down with someone and find 95% agreement. I feel like we’re losing human connection in the human world.”
Joseph Woodbury, cofounder and CEO, Neighbor, a self-storage marketplace: “One thing holding us back is that we hate each other. There’s been this massive disillusion of relationships. There used to be closer proximity and respect for each other. Turns out when you [go] digital it’s easier to hate someone who’s faceless. If you say something in a room together, you’d be much more cordial.”
Mitch Benson, CPO, Instructure, an education tech company: “The world is more polarized than at any time I can recall. Geopolitics, national politics, local politics, generationally, interpersonally it seems it’s an all-or-nothing, us-versus-them brawl. It’s [a] divisive, mean-spirited, morally charged, winner-take-all sort of affair. I worry about the role of technology in exacerbating the problem…or, conversely, from my seat, the role education and technology can play in creating the space in the collective psyche where we’re all a little closer, a little more personal, a little more tolerant, and a little more digitally literate.”
From the Dept. of Ryan Smith’s Life Is Not Like Ours
Ryan Smith, cofounder and chairman, Qualtrics; owner, Utah Jazz, Utah Hockey Club; co-owner, Real Salt Lake, Utah Royals: “I’ve gotta land a hockey team in 100 days. (laughs) It’s about trying to be more intentional. Taking a step back and understanding all the moving pieces.”
The collective conversation known as Fortune Brainstorm Tech begins July 15 in Park City.
Today’s news below.
Andrew Nusca
Editorial Director, Fortune Brainstorm
andrew.nusca@fortune.com
@editorialiste
Want to send thoughts or suggestions to Data Sheet? Drop a line here.
The rest of today’s Data Sheet was written by David Meyer.
NEWSWORTHY
FTC vs. TikTok. The U.S. Federal Trade Commission has referred to the Justice Department a complaint about TikTok, which it claims is “violating or…about to violate the law,” TechCrunch reports. Details are scarce, but the FTC has been investigating TikTok for potential violations of the Children’s Online Privacy Protection Act, as well as legislation against unfair and deceptive practices. It’s unusual for the FTC to publicize a complaint like this, but it said that “doing so here is in the public interest.”
Meta hardware re-org. Meta has reorganized its Reality Labs hardware division to comprise a Metaverse organization (the Quest headset) and a Wearables organization (everything else). The Verge reports that some layoffs are included in the overhaul, though it’s not clear how many.
AMD data theft claim. A cyber-gang called Intelbroker claims to have stolen data from AMD’s systems. The chipmaker said in a statement that it was “working closely with law enforcement officials and a third-party hosting partner to investigate the claim and the significance of the data.” As Bloomberg reports, the news knocked AMD’s share price by 2.4%.
SIGNIFICANT FIGURES
$3.34 trillion
—Nvidia’s market cap as of the end of yesterday, taking it past Microsoft (a mere $3.32 trillion) to become the world’s most valuable public company. Apple, in case you’re wondering, is in third place with $3.29 trillion.
IN CASE YOU MISSED IT
AI startup Adept has been in talks with Microsoft, sources say, by Allie Garfinkle and Sharon Goldman
Elon Musk selects Memphis for ‘world’s largest’ supercomputer site, by Chris Morris
Linda Yaccarino shares her biggest moment of imposter syndrome from her first year running Elon Musk’s X, by Christiaan Hetzner
I won an AI image award with a real photo to show we’re not adapting to the technology fast enough. Then it was my turn to be surprised, by Miles Astray (Commentary)
At Cannes, the ad industry contemplates its AI future with a mix of hope and fear, by Jeremy Kahn and Sharon Goldman
YouTube star Marques Brownlee says people shouldn’t blame him for Fisker going bankrupt—’they were doomed long before any of my videos’, by the Associated Press
BEFORE YOU GO
Privacy-respecting ad metrics. Mozilla, the privacy-conscious proprietor of the Firefox browser and other tools, has bought Anonym, an ad-tech company that was founded a couple years back by former Meta execs. As The Register explains, the aim is to give companies metrics about ad performance while also ensuring user privacy. But experts are skeptical after seeing many claims about privacy-preserving ad-tech, and it remains unclear how Mozilla’s users might respond to whatever the company is cooking here.