Mellody Hobson and Jason Hirschhorn had a really nice conversation here covering a range of topics. Below are notes on things that stood out.
On Board Participation
- Have a clear picture of who you have a fiduciary responsibility to
- Pay attention to the line between what is management’s responsibility to solve problems and your responsibility to hold them accountable.
- “Boards matter in times of trouble.”
- A key tell is whether the CEO on whose board you sit is comfortable with you having a relationship with folks below them.
Hobson’s recounting of Starbucks’ handling of the arrest of the two brothers in one of their stores was quite interesting from a crisis management standpoint. What lessons has Facebook or Twitter taken from that situation?
- “You don’t even realize the world has changed so dramatically and if you keep living with this view, it’s going to be dangerous.”
- “The business world is the only world where the one thing they’ll say ‘we’re working on’ on is diversity. Everything else – you fail, you get fired.”
I’m curious what the conversations between Hobson and Jamie Dimon have looked like as the bank has gone backwards in its ability to attract and retain black bankers. What feedback did she have on the recent move to position two women to be among the contenders to be the banks next CEO?
- There is going to be a business around curating media (a la Netflix) particularly around news. You’re going to need someone to help you filter through the news and help you know what to trust.
This curation point was a bit confusing for me. We have had curation sites for quite some time. One of the most powerful in the media world, The Drudge Report, has shaped the political debate in the U.S. for a very long time. I’m having a hard time understanding what’s different about this future curation business.