good morning.
In this quarter's CEO survey, luck Deloitte and Deloitte CEOs report a rise in optimism, with 27% of chief executives feeling bullish about the future of the global economy, up from 7% in October last year. Early this week, luck hosted a virtual conversation with members of the Fortune CEO Initiative to hear their thoughts.
While improving trends in inflation, interest rates, and employment lift the mood, Deloitte US CEO Jason Girzadas notes that a major driver of CEO optimism is the transformative potential of AI, saying, We're focusing on that,” he said. (Deloitte sponsors this newsletter.)
With that comes an acceptance of uncertainty. “Most of the CEOs we talk to are focused on staying agile because they don't know what's going to happen next turn,'' said Lynn Martin, president of NYSE Group. Masu.
Here are some insights from other CEOs:
“Labor issues are not as serious as they used to be…The whole world is a resource available to us.”
—Stanley Bergman, Henry Schein Chairman and CEO
“We are calling this year the year of the operator and getting back to basics.”
—Chrissy Taylor, President and CEO of Enterprise Mobility
“We find that customers want more value…When the economy takes a downturn, customers are the first to suffer and the last to recover.”
—Mark Rosen, CEO of JC Penney
“Every conversation starts with, 'So what does the political situation in America mean for my family and my portfolio?' We're saying, 'Don't play politics with your portfolio. ”
—Penny Pennington, Managing Partner, Edward Jones
“Florida allows many small employers to make their benefit plans part of the Affordable Care Act, distancing them from health care responsibilities.”
—Pat Geraghty, GuideWell President and CEO
“We synthesize and test many of our chemicals in China. Bipartisan support for anti-China initiatives has intensified geopolitical gamesmanship. That's my biggest fear.”
—Alex Zaboronkov, Founder and CEO, Insilico Medicine
“AI and healthcare opportunities are transformative. The level of change that CEOs and executive teams need to manage has never been greater.”
—Kristin Peck, CEO of Zoetis
“Health care costs for an aging population are rising dramatically…I worry about how the bottom 40 percent of baby boomers will fare in the next 15 to 20 years.”
—Tom McInerney, President and CEO, Genworth Financial
“AI has things like FOMO and JOMO. Either the fear of missing out or the joy of missing out…not necessarily with much basis, but either spending like crazy or ignoring it completely. Try to be somewhere in the middle, don't ignore or exaggerate. ”
—Barak Eiram, NICE CEO
“Frankly, one of the things we're looking forward to is a return to organic growth…Syndicated capital and leveraged capital has become harder to come by and much more expensive than it used to be. We expect to complete our first acquisition in two years by the end of this month.”
—BJ Schachnowski, symplr CEO
“What are we going to do over the next four to five years to not only prepare the workforce, but to prepare future leaders?”
—Rob Lake, co-founder and CEO, Boulevard
“Before all of this was flashy and cool, we became hybrids and lost our creative spirit…Now we're all about breaking barriers, being creative, having fun, and solving complex problems. will appear directly.”
—Kunal Patawali, CEO of Gemini Corporation
Please see the news below for more information.
diane brady
@dianebrady
Diane.brady@fortune.com
top News
deep pockets
Saudi Arabia's ambitious plans to shift its economy away from fossil fuels depend on the continued success of the country's oil company, Saudi Aramco. The Middle Eastern country is funneling Aramco's huge profits from cheap Arabian oil extraction into investments in futuristic cities, clean energy, sports and more. But it's still not enough. Saudi government debt has soared 20 times since 2014. luck
Is there a “friendly place to work” for Generation Z?
As Gen Z enters the post-COVID workforce, they are trying to balance two different goals: stability and flexibility and autonomy. Gen Z graduates and workers are skeptical that a “dream job” exists and want to set better boundaries between work and life. “Gen Z doesn't live to work. They work to live,” says Christine Cruzvergara, chief education strategy officer at job site Handshake.. luck
Yellen warns of China's 'overcapacity'
US Treasury Secretary Janet Yellen began her four-day visit to China in the southern city of Guangzhou. She again warned of China's industrial overcapacity and reinforced the new Biden administration's claims that Beijing is to blame. overinvestment During her visit to China, Yellen said that industries such as solar panels and EVs are dumping products to overseas markets such as the United States. Rejected This is to eliminate additional protections for U.S. industry. bloomberg
around the water cooler
$2.8 billion startup co-founded by Navy SEALs acquires Australian company that helps improve drones: 'We're building the world's best AI pilots' Written by Luisa Beltran
Elon Musk says he's increasing salaries for Tesla engineers as Sam Altman's OpenAI continues to hire them Written by Christian Hetzner
Gen Z is increasingly choosing vocational school over college to become welders and carpenters because it's a “straight path to six-figure jobs.” Written by Oriana Rosa Royle
The new retirement is not retirement: Baby boomers continue to work into their 60s and 70s because they “love going to work.'' Written by Alicia Adamczyk
Tesla Bear says vertical integration is too strong and ready to 'break'; it's a 'great model when it grows' but not during the worst quarter in years Written by Paolo Confino
Welcome to the era of ultra-nepo babies: New report finds every billionaire under 30 has inherited their fortune Written by Eleanor Pringle
THis edition of CEO Daily is curated by Nicholas Gordon.
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