Also: Daily Harvest recall, Japan's economy, Jain's death.
Good morning.
A new and noteworthy book is out this week entitled Longpath: Becoming the Great Ancestors Our Future Needs, by Ari Wallach. Wallach argues that we are in what he calls an “intertidal” moment—when different worlds collide, like the sea and the shore. From the book:
“Global challenges like climate change, pandemic disease, financial crisis, and tech disruptions are exploding and are on a collision course with fragmented geopolitical structures and citizens… Whereas once we took for granted that the next generation would be better off than we are, people increasingly feel that they and their families will be worse off in five years. The way we work has changed, with one-third of the American workforce now participating in the gig economy and automation infiltrating almost every sector. We even have the capacity to edit our genetic code now in a way that gets passed down to our kids and their kids and so on.”
How to respond? Wallach says the moment demands a change in mindset, that reframes decisions to focus not on what they mean for the next day, month, or year—but on what they mean for future generations. I spoke to Wallach last week and asked him why he wrote the book now. His answer:
“I wrote the book because after being a strategic consultant and leader of a company that is helping people think about tomorrow, I found that tomorrow for most people is just six to nine months out. But the issues we are dealing with are 60- to 90-year issues. We need to change how we think about these things…break them down, understand them…so we aren’t just putting the sandbags out.”
While the book isn’t explicitly about business, the “longpath” framing helps clarify the current debate between a “shareholder” and “stakeholder” focus. In the “longpath,” the two merge. We are all equal stakeholders in the future.
Other news below. And take a look at our summary of how the ten biggest companies in the U.S. are handling the return to the office.
Alan Murray
@alansmurray
alan.murray@fortune.com
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Daily Harvest deep dive
Earlier this year, healthy food delivery startup Daily Harvest suffered an alleged food poisoning crisis related to its French Lentil + Leek Crumbles. The product reportedly sickened at least 500 people and sent 113 to the hospital. The symptoms were bad enough—vomiting, diarrhea, gallbladder surgeries—but alleged victims say the $1.1 billion startup's slow and cagey response made things worse. The company says it used "the most effective communication channels to notify customers directly and the recall was successful." Fortune's Beth Kowitt investigates "what happens when brands built on and for the influencer era face a crisis." Fortune
Japan bounces back
Japan, the world's third-largest economy, posted annualized GDP growth of 2.2% on Monday, signaling that it may finally be moving on from the COVID-19 pandemic. After an Omicron outbreak chilled the economy to 0% growth in the first quarter, the Japanese public—highly vaccinated and fed up with staying at home—have stormed back into restaurants, malls, and tourist hotspots. New York Times
RIP, Anshu Jain
Anshu Jain, the former Cantor Fitzgerald president and Deutsche Bank co-CEO, has died at age 59, five years after being diagnosed with duodenal cancer. Jain outlived his initial diagnosis by four years “through a combination of exhaustive personal research, tactical skill, amazing caregivers, and sheer force of will,” his family wrote in a statement. Jain, born in India, is best known for turning Deutsche Bank into a global trading powerhouse. Fortune
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2022 Connectivity and Mobile Trends Consumers are using connected devices to enhance their daily lives and well-being, while fine-tuning the balance between their virtual and physical worlds. Deloitte explores how organizations can respond to these trends, deliver great experiences, and gain a competitive advantage. Read the report
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