Also: World Bank nominee, crypto jobs, and TikTok restrictions.
Good morning.
It’s Friday, and I haven’t done a feedback post in a while, so today is the day.
First, K.P., who runs a Fortune 500 company, had this to say about yesterday’s post on the possible end of the empathetic leader:
“What I see across industries is that there is a new generation of workers that want to work for companies that share their values, who want to work for leaders who value them and care for them, who understand their struggles and do what they can to support them. We are still in tight labor markets and I think the companies that win will be the ones that attract and engage the best of the best.”
M.C. was skeptical about CEOs demanding a return to office:
‘So a ‘return to the office’ isn’t the same thing as a ‘return to work’. People have been working more/longer from home. And productivity has soared with remote work (much more productive than ‘commute’ hours), shown in record corporate profits….That said, cultures like Amazon have never been empathetic.”
And J.L.G. was surprised to learn about the end of free coffee in the Goldman Sachs sky lobby:
“Goldman pays their employees millions, and can’t provide free coffee?”
Finally, M.S. correctly took me to task for saying last Friday that the U.S. doesn’t have a functioning government:
“The government functions just fine. Its biggest bits—insurance and defense—are all in place. So are smaller bits, from air traffic control to schools to highway maintenance… Most people in the world would love to have a government like ours.
“It’s our politics that are broken, for all of the reasons you have written about and more. That’s an important difference.”
Yes, it is an important difference, and I apologize for misstating it. Our politics are broken. Our government may not be perfect, but it remains the envy of much of the world.
More news below.
Alan Murray
@alansmurray
alan.murray@fortune.com
|
|
|
Everything you need to be better at business Subscribe to Fortune.com today to unlock market-moving business news, our iconic lists and rankings, including the Fortune 500, exclusive investment guides, and more. Try today. |
|
|
World Bank nominee
Biden has nominated former Mastercard CEO Ajay Banga as the new World Bank president. The announcement comes as the World Bank looks to expand its focus from poverty to the fight against climate change, and Banga is expected to utilize private money to tackle climate change. The nomination requires backing from other member countries, including China, Japan, Germany, France and the UK. Financial Times
Crypto jobs
The crypto industry has seen over 2,000 job losses in the first two months of 2023, despite a rally in crypto prices. Crypto exchanges including Coinbase, Crypto.com, Huobi Global, Gemini, and Luno have all announced job cuts due to weak retail trading. Coinbase has suggested that more layoffs may be necessary, following the 20% workforce cut in January. Bloomberg
TikTok restrictions
The European Commission has banned its employees from using TikTok, due to security concerns and the growing tensions between the West and China. The rule applies to both official and personal devices if they have work-related apps installed, with employees having until March 15 to remove the app from their devices. New York Times
|
|
|
The future of the consumer industry The consumer industry is on the precipice of change, with the potential to significantly affect markets, business models, and the mechanics of how the industry operates. What forces are shaping this change, and how might business leaders harness the opportunities brought on by these forces? Read more.
|
|
|
Thanks for reading. If you liked this email, pay it forward. Share it with someone you know. Did someone share this with you? Sign up here. For previous editions, click here.
To view all of Fortune's newsletters on the latest in business, go here.
|
|
|
|
 |
|
