Good morning.
I’m in San Francisco for Fortune Brainstorm AI and our local CEO Initiative dinner. Join us via livestream for the conference, where we’ll talk about how AI is rapidly reshaping everything from supply chains to space exploration.
Here on earth, you can’t ignore how humans are rapidly reshaping the political landscape, most recently with the ouster of Syrian president Bashar al-Assad, who fled to Russia after his government collapsed yesterday. Along with ending a dictatorship that began in 1971 under Assad’s father, the rebels have dealt a blow to Russia, Iran and Hezbollah.
Syria’s regime collapse could be a boon for business and democracy, or it could lead to further instability. The country’s 14-year civil war already sparked the worst refugee crisis since WWII. Now, U.S. troops will stay in Syria to battle ISIS in the hope that former jihadist leader Abu Mohammed al-Jawlani will embrace a more pro-Western world view. It won’t be easy: Much like Suharto did during his three-decade rule in Indonesia, Assad kept a tight grip on core economic sectors. That could make it tougher to rebuild.
Meanwhile, France’s government also collapsed last week after a no-confidence vote forced Prime Minister Michel Barnier to resign after just 91 days. While the motivation and methods may be different, the collapse of France’s minority government also comes at a delicate time for its economy. Already burdened by rising debt, borrowing costs, and bankruptcies, its predicament has been exacerbated by a rolling wave of public-sector strikes. The collapse of France’s government is also a blow to the European Union, which was already dealing with the collapse of Germany’s coalition government last month. (However, pro-EU protesters have taken to the streets in Georgia.)
Technology didn’t cause the ouster of Assad or the collapse of France’s coalition government. But AI could transform society in a way that deprives people of jobs, spurring more unrest, frustration and a feeling of unfairness.
Every good leader tries to win the hearts and minds of the people they serve. After all, unhappy people tend to challenge the status quo. The murder of UnitedHealthcare CEO Brian Thompson last week set off a torrent of complaints about fairness in healthcare costs, making other leaders fearful for their safety. Trying to understand what’s driving some of the public reaction doesn’t make Thompson’s death any less tragic. As one CEO told me last week: “When people try to tell you something, I’ve learned it’s better to listen than dismiss what they have to say.”
More news below.
Diane Brady
diane.brady@fortune.com
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TOP NEWS
Trump won’t guarantee no tariff-related price increases
President-elect Donald Trump said during an appearance on Meet the Press that he “can’t guarantee” that his proposed tariffs won’t increase prices for American families. He also claimed, however, that the tariffs can be used as geopolitical leverage. Fortune
Insurance companies pull executive pages
Elevance Health and Anthem Blue Cross Blue Shield have joined UnitedHealthcare in taking down the executive profile pages on their websites following the assassination of UnitedHealthcare CEO Brian Thompson. Fortune
Peter Thiel’s political play
In a new feature published over the weekend, Fortune’s Jessica Mathews details how members of PayPal co-founder Peter Thiel's personal network have come to hold important positions in the incoming Trump administration. That network includes Vice President-elect JD Vance and David Sacks, who Trump named his “AI and Crypto Czar.” Fortune
AROUND THE WATERCOOLER
Why more CEOs should follow the chief of Kohl’s lead and own up to their screwups by Phil Wahba
Meet John Elkann, the enigmatic billionaire heir fighting to save Jeep parent Stellantis by Christiaan Hetzner
‘The mother of all bubbles’ in the US is sucking money away from the rest of the world, market expert says by Jason Ma
Jeff Bezos says he prefers messy meetings that ‘wander’ and run overtime: ‘Show me the ugly bits’ by Natalie McCormick
Elon Musk is planning a rude awakening for 94% of federal workers by monitoring their every move by Jane Thier
Starbucks’ new CEO Brian Niccol wants you to get a brewed coffee in ‘less than 30 seconds’ by Sydney Lake
This edition of CEO Daily was curated by Joey Abrams.
