Good morning from Laguna Niguel, where we are hosting the Fortune Most Powerful Women Summit.
Power is relative thing. My grandmother wanted to be a teacher but her father, an immigrant tram driver in Glasgow, said no. So she worked in a shoe store instead, later writing guest columns for local newspapers while raising six kids. To me, she was a powerful woman. But except for a brief period as a young pregnant widow, she never controlled her own money. Her message to me and my sisters: Don’t let that happen to you.
The 100 powerful women on our 27th annual Most Powerful Women list, published earlier this month, are emblematic of how far women have come. And this year’s three-day summit is an opportunity for women leaders of all professional backgrounds to talk about AI, health, the election and other topics. You can check out the agenda and join us for a livestream of the mainstage sessions.
We’re having these conversations at a time of flux for gender progress. A growing number of women are enrolling in college and entering the workforce, determined to fare better than their mothers and grandmothers in achieving career success. At the same time, men are falling behind, with a steady decline in labor force participation rates and desire to work.
We can’t ignore demographic shifts: Gen Z workers know they’re unlikely to equal, never mind surpass, their parents’ standard of living. Add in growing concern about declining fertility rates, now so low in places like South Korea that sales of dog strollers outpace baby strollers. Much debate has ensued about how to get women to have more babies, most notably among men like Elon Musk and JD Vance.
Meanwhile, women are making progress in leadership roles—29 percent of C-suite positions are now held by women, according to a recent McKinsey report, compared with just 17 percent in 2015. The UN issued a report a few days ago, documenting progress but a long way to parity.
As I reminded myself after seeing that all seven of the recipients of the Nobel Prize in science this year were men, it’s an evolution. With more women entering scientific studies and jobs, the Nobel committee with hopefully recognize the contributions that women bring to their professions.
For employers, the key will be to find ways to engage. It starts with smart conversations among those who are shaping the future. Our speakers include General Motors CEO Mary Barra, Supreme Court Justice Ketanji Brown Jackson, Seattle Storm co-owner Sue Bird and Grammy Award-winning artist Lizzo. I hope you’ll join us.
More news below.
Diane Brady
diane.brady@fortune.com
Follow on LinkedIn
TOP NEWS
Investors sour on Tesla's new robocars
Uber and Lyft saw bumps in stock price while Tesla stock dipped seven points after Tesla CEO Elon Musk unveiled autonomous Cybercab and Robovan Thursday night. Analysts and investors said the presentation lacked details on how the vehicles actually work or clarity on when they would be available. Fortune
Microsoft CEO's two daily phone calls
Microsoft CEO Satya Nadella told The Information that he calls two CEOs per day to inquire about exciting new startups and professional connections. He says it helps him stay connected to various industries and build his personal network. Fortune
Chevron CEO's notes of appreciation
Chevron CEO Mike Wirth said in an interview on the How Leaders Lead podcast last week that he sends personalized thank you notes to employees to show his appreciation for their work. After a trip, he estimates that he write as many as 80 of these letters. Fortune
AROUND THE WATERCOOLER
Wall Street soars to new records as banks rally by Brooke Seipel
Bank of America’s Brian Moynihan credits his long tenure atop the firm to lifelong learning and curiosity by Natalie McCormick
Jamie Dimon says global politics are ‘treacherous and getting worse’—so he’s preparing for anything by Eleanor Pringle
Convicted FTX executive announces his ‘new role’ as an inmate at Maryland prison on LinkedIn by Christiaan Hetzner
Ryanair is retaliating against Germany’s tax hikes by slashing routes and cutting 1.8 million seats by Prarthana Prakash
‘The Black Swan’ author is really afraid of what’s happening to the U.S. dollar by Jason Ma
‘Chasing yield’ was an inside joke at SVB—until it led to the bank’s collapse by Will Daniel
The creator of ‘Moore’s Law’ said it couldn’t continue forever—and would be astounded by the chips Intel and its competitors are making now by Geoff Colvin
This edition of CEO Daily was curated by Joey Abrams.
