“We should expect more volatility,” Reid Hoffman tells Rapid Response host Bob Safian in the first Need to Know session of the year, covering news and business topics impacting entrepreneurs right now. Reid and Bob discuss the implications of the Ukraine invasion, then dive into the pandemic-fueled troubles at Peloton, PayPal, and Meta, new climate-change urgencies — including Reid’s recent trip to Antarctica, and how Activision will be different after merging with Microsoft. Plus: pay transparency; the lessons of Theranos; and the business case for democracy. Cameos: John Doerr (author of Speed & Scale), Jeremy Farrar (Wellcome Trust), Daniella Ballou-Aares (Leadership Now Project).

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It may appear off-brand for Betterment, a digital investment adviser, to acquire a cryptocurrency investing platform. But CEO Sarah Levy explains that Betterment, positioned around its long-term diversification philosophy, has approached this volatile space with their tried-and-true principles top of mind. “Once we believe that an asset class is here to stay,” she says, “the question is: how do we responsibly incorporate that alongside a traditional investment strategy?” Levy, who became CEO in the midst of the pandemic, offers an intriguing perspective on how new, fast-moving digital finance platforms are shifting the norms of the industry. “We are not saddled with legacy businesses here that prevent us from chasing new dreams.”

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Go to summit.mastersofscale.com to learn how to join a pantheon of scale leaders gathering in San Francisco Oct. 18-20, 2022 at the Masters of Scale Summit. The early confirmed stage program includes the likes of Bill Gates, Tyra Banks, Satya Nadella, Arianna Huffington, Ted Sarandos, Mellody Hobson, and more. The event is uniquely designed for both executives in the room and their teams back home — offering a beautifully filmed, hosted livestream that will empower your team to bring new ideas to life. You can apply to attend in-person as either a general applicant or early-stage leader, as well as purchase livestream packages for your team at summit.mastersofscale.com.

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Ken Frazier, the longtime CEO of pharmaceutical giant Merck, was one of the few Black CEOs at the top of Corporate America. Now as an adviser at General Catalyst and co-founder of the social impact organization OneTen, he’s re-shaping how business addresses racial and health equity. He joins host Bob Safian to discuss crisis adjustment, the positive side of fear, and the importance of vulnerability. Plus, he addresses the rising divisiveness in American culture, and the important role that business can play – by stressing our commonality and emphasizing kindness.

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In this special edition of Strategy Session, Reid Hoffman answers five burning questions from our Masters of Scale Members. Each asks Reid a critical question about the business challenges that they’re facing right now – from how to best prepare yourself for entrepreneurship to growth metrics and name changes. Featuring Members Antoni Gruca (HEC-42 Launchpad), Krystal Lucado, Tudor Mihailescu (SpeechifAI, Inc.), Hoda Mehr (Stock Card), and Shamini Dhana (D/Sphere).

Do you want to submit your question for the next Strategy Session? Visit mastersofscale.com/membership to become a Member. You’ll also get access to the Masters of Scale Courses app, and you’ll be able to join the private Masters of Scale LinkedIn group where you can connect with every Masters of Scale Member.

Read a transcript of Strategy Session 11 at https://mastersofscale.com/strategy-session-members/

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As the global chip shortage unfolded last year, Qualcomm’s engineers quickly redesigned their products – an effort that tapped into “every possible capacity we could find,” says CEO Cristiano Amon. Their story is a great lesson in how an established company can and must move with the speed of a startup. One key to moving at speed, says Amon: aligning the entire organization around a single strategy. But along with an all-hands effort, he insists, must also come time to rest. “Everything's new, everything's always changing, we have to move fast, but at the end of the day, we also need time for ourselves and our family,” he reminds us.

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To survive your entrepreneurial journey, you have to learn to recharge. Knowing when to turn the lights out may be the only way to keep the lights on. Few know this better than Arianna Huffington, who dramatically scaled the Huffington Post – and then experienced profound physical burnout. Her venture, Thrive Global, scales the idea of balance across an organization. With cameo appearances from Chris Yeh (co-author, Blitzscaling) and Dr. Matt Walker (author of Why We Sleep).

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With their eyes fixed on what’s next, the Drone Racing League has established a fresh fanbase, previously left untapped by professional sports. President Rachel Jacobson, formerly an NBA executive, refers to this audience as “techsetters” – young, enthusiastic, tech-driven fans who are “invested in what the future looks like.” It’s a new demographic that could have only emerged from the league’s unique positioning that intersects sports, entertainment, and technology. As Rachel says, the companies that aren’t planning for their future demographics of consumers will “age out really quickly.” She spoke with Rapid Response host Bob Safian about diving into future ideas that may first appear unrealistic – and spinning them into realities. The Drone Racing League has successfully secured partnerships with some of the biggest media and commercial organizations in the world, such as NBC, Twitter, T-Mobile, and DraftKings. 

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You’ve had a glimpse into the future, and you’re sitting on an idea that could change the world. Now what? Well, prepare for layers of resistance, and be ready to spring into action. Throughout her career, Natalie Massenet has proved her ability to spot – and act on – a trend, first as a fashion journalist and then as founder of the luxury e-commerce site Net-a-Porter, which pioneered online shopping for high fashion. Now, she’s at the helm of the new fund Imaginary Ventures, with $1 billion under management. Natalie and Reid share tactics about how to deliver the future to consumers, manage pushback, and navigate uncharted territory.

Listen to the audio story "Give Me Away" by Mac Rogers: https://www.gideon-media.com/give-me-away

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Faced with long odds, how do you keep your team motivated and moving forward? As a leader, Alexis McGill Johnson is focused on building hope. As the president of Planned Parenthood, Johnson is preparing for the U.S. Supreme Court to overturn Roe v. Wade. But in the meantime, she’s modeling a sense of relentlessness for her team – so they can be fearless and unapologetic. Since she took over at Planned Parenthood, she’s faced both internal and external challenges. Something she learned early: "You really need to drive it like you stole it,” she says. “And don't wait for permission to make the transformations that you need to see.” She’s chosen to speak boldly, emphasizing equity and addressing the organization’s legacies of racism head on. The lessons she offers can be focused as a refusal to shy away from disappointments – and impossible dreams. 

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