Morning Brew Daily

Not too long ago, Complex CEO Rich Antoniello tweeted this—what he considers the formula for success in publishing. Seems pretty straightforward, but...

It got the Business Casual team thinking: Does such a formula really exist? And if Rich is right in saying that it does, how can lessons he espouses from the publishing world apply to every other sector?

This week on Business Casual, we get an answer straight from the media CEO’s mouth. Rich answers every burning question about his formula for success, from what matters most to how differently things would’ve gone if he’d just invented YouTube.

There’s a reason we’re talking about this right now. It’s because now more than ever, success in publishing is hard to come by. In an industry known for its thin margins and stubborn resistance to change, a pandemic and recession have accelerated hardships already being played out. 

We recorded this episode on March 31 as the COVID-19 pandemic began to take a stranglehold on the economy. The lessons have aged better than we could’ve ever expected: One look at this list of newsroom layoffs paints the picture better than any episode description could—layoffs have come for everyone, from old media to new. 

Understanding how to insulate your business (whether it’s in publishing or not) from having to make those hard decisions to let your people go? That’s important today and will be important tomorrow.

And FWIW, Rich’s wisdom spans far more than just the youth culture his Complex team is so devoutly dedicated to. Here’s a small sample of his pep-talk-but-realistic vibe:

“There is no excuse not to evaluate yourself, every word, every story, every video, every social post, every campaign that you’ve created. There's always ways to get better. And you have to be pushing yourself and you have to go not to do more of it. Like this is not a more thing. It's a how do we do it better?”

Listen now.

For those of us lucky enough to have jobs that allow it, working from home has laid bare many uncomfortable truths—like the fact that productivity and the presence of pajamas are inversely correlated...or that fact that cybersecurity is a pillow fort when it should be Fort Knox.

After all, we’re in the midst of a global health crisis that’s forced us to adopt a new normal. And that crisis has sent us barreling toward dependence on digital tools to both keep us informed and help us do our jobs. But with that, how should our approaches to cybersecurity change?

This week on Business Casual, we’re getting the answers from Nicole Eagan, CEO of cybersecurity company Darktrace, the first to develop an AI system to thwart cyber threats. Nicole explains why we need to shift our mindsets surrounding cybersecurity from 1s and 0s to a more holistic view.

Because as far as she’s concerned, hacks happen. No system is impenetrable. 

But what we need to think about now is how wide open our home setups are leaving corporations across the board. Face it, we don’t always use the VPN we’re told to.

Plus, Nicole adeptly illustrates how this pandemic, unpredictable and painful as it might be, is preparing us to adopt useful tech at a faster (read: better) pace than ever before. Just don’t expect AI to write these descriptions anytime soon.

We’ve read enough about Elon Musk to know that CEOs are as much a liability as they are an advantage. Just this month, Musk tweeted that Tesla’s stock price was “too high.” Tesla’s stock price responded in kind by tanking some 10%. I’m sure investors loved that.

And Musk is just one example of many. So why aren’t investors and reporters thinking more about leadership and its tangible effects on a company’s bottom line? If change starts at the top, why aren’t we talking about effective leadership in SEC documents instead of woo-woo weekend retreats?

To find out, I spoke with Arianna Huffington, founder of the Huffington Post, CEO of Thrive Global, author of 15 books, and general expert in what it means to lead effectively.

Arianna delved into the “obvious consequences” of widespread burnout within top corporate brass—the kind of burnout she’s repeatedly claimed drives someone like Elon Musk to tweet something like “funding secured.”

And there’s a reason we’re talking about it right now. As far as Arianna is concerned, being a leader throughout a crisis like today’s is like stepping into the eye of a hurricane. It’s never been 1) harder and 2) more important to prioritize strong leadership, from both a human and a business perspective. 

But that’s easier said than done. Listen now to find out why.

Part I of our interview with outspoken venture capitalist and entrepreneur Chamath Palihapitiya ruffled some feathers...consider that the pregame to today’s Part II.

In this episode, Chamath argues his thesis that “zombie companies” need to go six feet under for the rest of the economy to stay alive and well—especially in the middle of today’s pandemic and recession. He explains...

Why stock buybacks and monetary mismanagement deserve more than a slap on the wrist

How the government needs to reconsider the incentives it offers companies to create a more sustainable version of capitalism

And while he’s at it, Chamath draws apt connections between luck and hard work. 

Come for the deep analysis of government intervention in companies deemed too big to fail, stay for Chamath’s assertion that the U.S. economy needs billionaires like the NBA needs LeBron James.

Listen now and let us know what you think. And if you missed Part I, go check that out, too.

American capitalism is kind of like apple pie. We know it’s supposed to be a quintessential component of our culture, but we’re not really sure how to make it from scratch without leaving a bad taste in someone’s mouth.

This week on Morning Brew’s Business Casual podcast, the provocative and recently very viral venture capitalist Chamath Palihapitiya argues that today’s recipe for capitalism isn’t working.

Palihapitiya’s case against this “perversion” of capitalism looks a little like this: 

We’ve strayed tremendously from the free market system that allowed all entities, wealthy or poor, to move together in unison.

To Palihapitiya, that’s resulted in a massive zero sum game between resilience and efficiency. If we want to have both, we need to make some changes. 

You might not agree with Palihapitiya. But this episode is full of thought starters guaranteed to provoke even the least civically inclined of your group chat. And just wait for Part II coming out next…

Go listen to Part I now.

+ And if you want to check out the viral interview we reference in the episode, find that here.

He’s not running. But if he were? The hedge fund billionaire and philanthropist says he would put bipartisanship above all else. Sounds great, Ray, but is it realistic?

On this episode of Morning Brew’s Business Casual podcast and part two of our interview with Ray Dalio, we try our best to figure it out. 

Dalio expertly describes the intersection of markets and politics in today’s crisis, making the intricacies of Fed policy, Wall Street psychology, debt cycles, and more make perfect sense. Plus, Dalio gives a master class in...

What’s wrong with capitalism (there are some strong contenders for best pie metaphor of the year in that part)

How we should interpret the markets which constitute our broader economy as machines that sometimes need tune-ups

If you missed part one of our conversation with Dalio, go check it out. In this second part, he expands on his thesis that students of history could’ve seen this pandemic coming. Are you sold?

Listen now and let us know.

Ray Dalio, billionaire philanthropist and hedge fund demigod, thinks we can utilize historical precedent to insulate ourselves from the inevitable pain points life throws at us. Do you?

Part I of our two-part interview with Dalio will help you make a decision. 

In this episode of Business Casual, Ray makes a case for becoming a voracious student of history. And yes, Ray thinks we could have seen today’s global health and economic crisis coming—he even goes as far in the episode as to divulge what he would have done differently if he’d paid a little more attention to the history books. 

Because as far as he sees it, there is such a thing as a formula for success. He shared that formula, plus tips for…

Learning how to make decisions even when armed with imperfect information at best

Positioning yourself to take advantage of your weaknesses as much as you do your strengths

Understanding what the role of the billionaire class should be in times of global panic

Listen to the episode now. And make sure you’re subscribed so you don’t miss Part II of the interview, up next from Business Casual.

Today we’re flipping the script on Business Casual… and the host becomes the interview subject. 

That’s right. Our guest for this episode is our very own Kinsey Grant, Morning Brew business editor and the host of this podcast. She’s the one constant voice on this show, and we want you, dear listeners, to get to know her better. 

Kinsey breaks down how she uses razor sharp questioning and an impressive roster of guests to answer some of the biggest questions in business. But what exactly makes something a “big question in business”?

Reformed markets reporter, newsletter writer, and early bird Kinsey Grant and Morning Brew audio produce Marilyn Haigh get to the bottom of it.

Want to get in touch? Email Marilyn at [email protected] and Kinsey at [email protected].

April 22 is Earth Day. Do you know if your favorite corporate behemoth is observing the holiday? Chances are...they aren’t.

Spoiler alert: That’s a terrible decision.

By letting climate concerns simmer quietly on the back burner, companies are not only opening themselves up to unmitigated risk but also leaving returns on the table. That’s according to Brian Deese, global head of sustainable investing at BlackRock (yes that BlackRock—the world’s largest money manager).

This week on Morning Brew’s Business Casual podcast, Deese (who was also an architect of the Paris Climate Agreement following a stint in the Obama White House) explains why investing with the climate in mind leads to stronger returns. 

Deese also illustrates the important roles both 1) big data and 2) the federal government play in determining how and when corporate America prioritizes sustainability. Because all those returns we were talking about up there? They won’t matter if the world’s on fire in 30 years.

And unlike some investors focused on sustainability, Brian’s about more than just good press. Listen now to hear for yourself.

Things we learned in school: 1) always guess C and 2) never underestimate the importance of highly intricate supply chain economics and their trickle down effects on business. 

This week on Morning Brew’s Business Casual podcast, Geoffrey Garrett, dean of UPenn’s prestigious Wharton School, explains what’s at stake for our globalized economy in the wake of COVID-19. We called in the best in the Ivy League for this one, since there are a lot of moving parts:

First, we were concerned about supply as China’s countless manufacturing facilities went offline to observe social distancing and slow COVID’s spread.

Then, we got worried about demand as Western countries shuttered entire economies and consumer spending hit a wall.

So...now what should we furrow our brows over? Dean Garrett has all the answers. It’s like getting a degree from Wharton, but without the rich mahogany smell.

Listen now and let us know what you think.