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Hello and welcome to Modern CEO! I’m Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company. If you received this newsletter from a friend, you can sign up to get it yourself every Monday. Gregg Renfrew is back. Four years after the entrepreneur sold her clean skincare and cosmetics brand Beautycounter to The Carlyle Group in a deal valued at $1 billion—and more than a year after she and the private equity firm shut down the company amid falling sales—Renfrew today is officially laun…

In the absence of stronger federal regulation, some states have begun regulating apps that offer AI “therapy” as more people turn to artificial intelligence for mental health advice. But the laws, all passed this year, don’t fully address the fast-changing landscape of AI software development. And app developers, policymakers and mental health advocates say the resulting patchwork of state laws isn’t enough to protect users or hold the creators of harmful technology accountable. “The reality is millions of people are using these tools and they’re not going back,” said Karin Andrea Stephan, CEO and co-founder of the mental health chatbot app Earkick. ___ ED…

Raising your prices takes courage, but it’s often the only way to grow revenue when you’re a freelancer, solopreneur, or running a small service business. But it’s possible to do it without losing your clients–here’s exactly how. View the full article

The health care industry, like many others, has traditionally relied on tried-and-true conventional, one-way marketing tactics. However, that strategy is no longer enough to break through to consumers. More than 81% of consumers tune out generic ads and crave more engaged and personalized content, signaling that marketers need to adapt and stop ineffective communication that tries to pull consumers to them. Instead, we must go to our customers, meeting them precisely where their attention already lives. We know a great story has the power to transcend demographics, evoke emotion, and build lasting connections. Ultimately, brands are collections of human beings, an…

When Raising Cane’s recently opened its first-ever location in Meridian, Idaho, it wasn’t a particularly remarkable event for the restaurant chain. The fast-growing chicken purveyor also opened six other restaurants in five other states on the exact same day in November. It aims to open close to 100 new stores this year. But some Idahoans were willing to stand outside in chilly fall weather for more than 48 hours to be the first in the state to get a taste of Raising Cane’s, whose exceptionally narrow menu features chicken fingers, french fries, a secret proprietary dipping sauce, and simple sides like garlic toast and coleslaw. “We had customers camping out since…

When I think about the changes in the context for strategy across my career, my view contrasts starkly with the consensus view. Most obsess about rising VUCA (the combination of volatility, uncertainty, complexity, and ambiguity) as the key change. I don’t—and I explain my position in this Playing to Win/Practitioner Insights (PTW/PI) called What has Changed the Most for Strategy: Implications for Your Strategy. And as always, you can find all the previous PTW/PI here. The VUCA narrative I started advising executives on strategy in 1981. The question I pondered for this piece is how has the context for strategy changed over the past 44 years? The general answer…

The Federal Reserve cut its benchmark interest rate by a quarter point Wednesday for the third time since September, bringing its key rate to about 3.6%, the lowest in nearly three years. Before September, it had gone nine months without a cut. The benchmark rate is the rate at which banks borrow and lend to one another, and the Fed has two goals when it sets the rate: one, to manage prices for goods and services, and two, to encourage full employment. The benchmark rate also affects the interest rates consumers pay to borrow money via credit cards, auto loans, mortgages, and other financial products. Typically, the Fed might increase the rate to try to bring down infla…

If you’ve been noticing that cobalt-hued water bottles have started to pop up everywhere you’re not alone. The water has recently made an appearance on shelves at major retailers including Whole Foods and 7-Eleven, starred in viral social media videos created by fitness influencer Ashton Hall, adorned on tables at the Golden Globes, and beginning this week, will star in a fresh new advertising campaign featuring WNBA point guard Skylar Diggins. All of these marketing efforts represent a more expansive pitch by Saratoga Spring Water that the brand’s premium-priced water isn’t just for fine dining– which has been the brand’s core focus for the past several years — it’s …

Rumor has it that soda fountains at a handful of gas stations and convenience stores across the Midwest are serving a thicker, more syrupy variant — with extra sweetness. Aptly dubbed “heavy soda”, the drink option can be traced back to a singular post on the subreddit r/Soda, and a few TikTok videos. “You know when the gas station fountains have this option you’re in gods country,” creator Kate Boyer wrote in the caption of a post earlier this year. The video has since gained almost seven million view. The drink has recently been picked up by a number of news organizations. Not to be confused with the recent dirty soda or protein soda trends, heavy soda is all …

In a Rye, Colorado, cattle pasture now subbing for the moon, an otherworldly vehicle bumps along a scrubby course of furrows and mounds, weaving around rocks and kicking up a fine dust. It’s an open-concept machine dubbed Falcon—a silver solar-powered rectangular frame on wheels, with a partial roof, windowless sides, and a spacious cockpit flanked by monitors and steering controls. An engineer sits in one of its two seats for safety as the vehicle autonomously navigates around obstacles to a location dictated by Mission Control 160 miles away. Suddenly, a wheel hits a rock, and Falcon halts, relaying real-time feedback to Mission Control. There, an operator revises a com…

Last night, Zohran Mamdani defeated Andrew Cuomo to become the next mayor of New York City. Cue the online crashouts. Leading the pack is Will & Grace star Debra Messing, who is now facing intense backlash for sharing dozens of posts smearing the Democratic candidate on Instagram in the run up to polls closing. Messing took part in early voting last week, sharing in a post that she cast her ballot for Cuomo, who ran as an independent. Before the race was called, Messing took to her Instagram Stories to share an onslaught of anti-Mamdani graphics and videos, many including blatant Islamophobia. She reposted a video of one influencer calling Mamdani …

Robotaxi pioneer Waymo plans to expand to London next year, marking the company’s latest step in rolling out its driverless ride service internationally. Waymo said Wednesday that it will start testing its self-driving cars on London streets in the coming weeks—with a human “safety driver” behind the wheel—as it seeks to win government approval for its services. In a blog post, Waymo said it will “lay the groundwork” for its London service in the coming months. The company said it will “continue to engage with local and national leaders to secure the necessary permissions for our commercial ride-hailing service.” Waymo’s self-driving taxis have been operating …

A few years back, Deanna Conley had just moved to Newport, Rhode Island with a 3-month-old and 3-year-old. She soon joined a focus group for a new type of club forming in her area. This club—part daycare, part adult coworking space, and a little bit gym—would fulfill Conley’s post-moving needs: It offered community in a town where she knew no one, a space to work as a small business owner without an office, and affordable childcare. “The cost of a nanny was really prohibitive for us,” Conley says. Her older son had been in traditional daycare prior to the family’s move, but Conley thought this club might be a bit different. “I was really interested in and excite…