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.
I’ve seen Shellye Archambeau’s name around and have been intrigued to learn more about her story. Her appearance on Masters of Scale gives a great peak into how she’s navigated her way through Silicon Valley.
What stood out in particular was her telling about a Bible her family has passed down that contains her family tree for ten generations. She credits that Bible along with her family’s culture has given her a sense of her ancestors and where she comes from that. That shaped how she developed her vision.
I’m so big on the importance of knowing where we come from being a mental block for black folks in the Diaspora, but haven’t given a lot of thought to how to make sure those coming after me know where they come from. I will give that some thought.
It’s pretty amazing to see the traction startups are getting, but there’s a long ways to go. Just yesterday, $1.93b in deals were announced globally.
This brings to mind this great conversation between Ian Bremmer and Keyu Jin. China and African countries are not apples-to-apples by any means. There have to be lessons in the China story, though, that can guide countries to chart their own path deliberate, yet accelerated growth. I think making big investments in developing R&D ecosystems in each country’s strong industries is the way forward.
This deal stood out initially because GenNx360 is founded and run by black folks. Then, this morning I thought about this study showing the racial-ethnic disparities in who causes and consumes pollution. The study essentially showed that minorities cause less pollution but consume more of it. The GenNx360 deal feels somewhat symbolic of an effort to take the reins of addressing that.