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Billionaire Warren Buffett warned shareholders Monday that many companies will fare better than his Berkshire Hathaway in the decades ahead because of its massive size, though others might say the company’s prospects will dim because “Father Time” is catching up with the 95-year-old icon who plans to step down as CEO in January. Buffett reflected on life and his health in a new letter to shareholders where he announced $1.3 billion in new charitable gifts to the four family foundations run by his children that—along with the Gates Foundation—have been helping steadily give away his fortune since 2006. Berkshire is known for consistently outperforming the stock mar…

Sonder Holdings said on Monday it will wind down its operations and file for bankruptcy one day after Marriott International abruptly announced that it had terminated its licensing agreement with the San Francisco operator of thousands of rental properties. The one-two punch of news has caused chaos for employees and guests alike. Shares of Sonder have plummeted more than 64% as of mid-day trading on Monday. In a statement Monday, Sonder said it expects to file for Chapter 7 bankruptcy and liquid its U.S. business, in addition to initiating insolvency proceedings in the international countries where it operates. “We are devastated to reach a point where a liqu…

Recently, New York Times opinion columnist Ross Douthat moderated a debate on the Interesting Times podcast between Helen Andrews and Leah Libresco Sargeant, two conservative critics of modern feminism. The podcast received major blowback, starting with (but not ending with) the fact that the original headline of the conversation was “Did Women Ruin the Workplace?” Quickly, after the predictable backlash hit, the headline was changed to “Did Liberal Feminism Ruin the Workplace?” But the diversion didn’t help the conversation’s case all that much. While the headline was softened to perhaps dress up the discussion as an urgent political issue, mostly, it felt like intelle…

Feed Me’s Emily Sundberg has launched her first foray into podcasting with Expense Account. The first episode, out today, features chef and author Alison Roman in conversation with host Jason Lee (formerly Semi Anonymous Restaurant Critic J Lee)’s, revealing her secret order at Keens, her new tomato sauce business, and the importance of keeping fresh flowers at home. “Expense Account is a food podcast for everyone. Insiders, outsiders, your mom, your dad, New Yorkers, Angelenos and also people from Florida (we love you). Anyone who enjoys eating food,” the show’s description reads. “It’s even for people who hate food.” The podcast marks Sundberg’s first step …

Last week, four Condé Nast staffers were abruptly fired after participating in a union protest at the publisher’s 1 World Trade Center headquarters. The journalists had confronted chief people officer Stan Duncan outside his office, demanding answers on a fresh wave of layoffs that had just hit the company. The incident followed Condé Nast’s announcement that Teen Vogue would be folded into Vogue.com, resulting in multiple layoffs, including Teen Vogue’s editor-in-chief. Footage obtained by The Wrap shows Duncan declining to engage with employees, instead repeating that they should “go back to the workplace.” In the clip, one of the journalists asks, “What c…

Think. Create. Change. These three verbs are the driving force behind the World Changing Ideas Summit, a first-of-its-kind event created in partnership with Fast Company and Johns Hopkins University (JHU). This November 19 at the Johns Hopkins University Bloomberg Center in Washington, D.C., the World Changing Ideas Summit will convene academics and senior business leaders for a day of immersive, thought-provoking experiences designed to advance America’s innovation ecosystem. From dynamic panels to interactive innovation showcases to hands-on breakout sessions, the World Changing Ideas Summit aims to go beyond dialogue and inspire action. “The World Changing…

Tesla is getting into the rental car market. Drivers can now rent a Tesla in two Southern California locations—San Diego and Costa Mesa—for three to seven days, starting at $60 daily, according to Electrek. Tesla will be renting, not leasing its EVs, and plans to continue rolling out additional U.S. locations starting this month. Fast Company has reached out to Tesla for comment. The news comes as the electric vehicle (EV) maker looks for new ways to head off further declines in U.S. sales following the expiration of its federal tax credits, and comes amid continued backlash against the company for CEO Elon Musk’s role in the U.S. government, coupled with gro…

In 2011, Patagonia faced the same pressure every retailer faces on Black Friday: maximize sales on the year’s biggest shopping day. Instead, they ran a full-page ad in the New York Times with a stark message: “Don’t Buy This Jacket.” The ad detailed the environmental cost of making their bestselling R2 fleece, such as 135 liters of water in the manufacturing process and 20 pounds of carbon dioxide for transporting it to the company’s warehouse. This wasn’t a clever marketing ploy. The ad directly urged customers to think twice before purchasing, to fix existing gear before replacing it, and to buy and sell second-hand. This was a real commitment to the values that had…

OpenAI is going house hunting. The world-leading AI company is reportedly looking for a massive corporate campus of at least 500,000 square feet to house its ever-growing workforce of insanely well paid engineers and support staff. What’s more important than OpenAI’s desire to expand, though, is the company’s choice of where to do it. OpenAI is looking not in the trendy, vibrant heart of San Francisco, but deep in the dull, gray corporate expanses of Silicon Valley. That bucks a major trend in the AI space—and signals a broad and impactful change to the industry. Corporate hermit crabs For generations, America’s most successful tech companies …

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 morning. Before becoming CEO and president of C.H. Robinson in 2023, Dave Bozeman worked at four of the world’s most iconic companies: Harley-Davidson Motor Company, Caterpillar, Amazon, and Ford Motor Company. During each stop, he gleaned valuable lessons: Harley-Davidson (16 years): The m…

At its best, work can be energizing, creative, and meaningful. It can also be emotionally exhausting and stressful. Even in healthy organizations, we all deal with interpersonal tension, stinging feedback, impossible deadlines, and the constant pressure to perform. Add in the rapid pace of change and a steady diet of uncertainty, and it’s no wonder many of us feel perpetually on edge. Stress isn’t just a sign that something’s wrong—it’s a signal that something matters. Emotions like frustration, anxiety, and excitement all contain useful data about what’s important to us, what we value, and what we need. Yet in most workplaces, we’re trained to treat emotions as distr…

Company culture doesn’t affect performance. That’s not a hot take, that’s what a 2022 meta analysis from the Chartered Institute of Personnel and Development found when they compared more than 500 research papers on the topic. From the report: The findings are very clear: there is little evidence consistently linking organizational culture to performance, but if such a link should exist, it is very weak and too small to be practically meaningful. As such, organizations and practitioners should be careful spending time and money on company-wide culture change programs as they are not likely to increase performance. And yet, when asked, 92% of executives believe t…

Brands matter now more than ever. You don’t have to say it, I know what you’re thinking: the CEO of a brand agency arguing for brands? How surprising. But this isn’t for me. This is for every CMO looking to secure their seat at the table and fighting to keep brand investment alive. This is for every CEO and CFO balancing the pull of GenAI and the flood of new tools that promise optimization, automation, personalization, and agentic transformation. And yes, dare I say it, this is for my competitors, who I know are on their own crusade to prove that brand still matters. Because brands are quietly under attack, through budget cuts, short-termism, and the …

The Senate took the first step to end the government shutdown on Sunday after a group of moderate Democrats agreed to proceed without a guaranteed extension of health care subsidies, angering many in their caucus who say Americans want them to continue the fight. In a test vote that is the first in a series of required procedural maneuvers, the Senate voted 60-40 to move toward passing compromise legislation to fund the government and hold a later vote on extending Affordable Care Act tax credits that expire Jan. 1. Final passage could be several days away if Democrats object and delay the process. The agreement does not guarantee the health care subsidies will be exten…

Cleveland Guardians pitchers Emmanuel Clase and Luis Ortiz have been indicted on charges they took bribes from sports bettors to throw certain types of pitches, including tossing balls in the dirt instead of strikes, to ensure successful bets. According to the indictment unsealed Sunday in federal court in Brooklyn, the highly paid hurlers took several thousand dollars in payoffs to help two unnamed gamblers from their native Dominican Republic win at least $460,000 on in-game prop bets on the speed and outcome of certain pitches. Clase, the Guardians’ former closer, and Ortiz, a starter, have been on non-disciplinary paid leave since July, when MLB started investigatin…

Frida Kahlo’s “El sueño (La cama)” — in English, “The Dream (The Bed)” — is causing a stir among art historians as its estimated $40 million to $60 million price tag would make it the most expensive work by any female or Latin American artist when it goes to auction later this month. Sotheby’s auction house will put the painting up for sale on Nov. 20 in New York after exhibiting it in London, Abu Dhabi, Hong Kong and Paris. “This is a moment of a lot of speculation,” said Mexican art historian Helena Chávez Mac Gregor, a researcher at UNAM’s Institute of Aesthetic Research and author of “El listón y la bomba. El arte de Frida Kahlo.” (The ribbon and the bomb. The art o…

Disney has been in the cruise business for 27 years now, but over the past few years, the company has doubled down in an unprecedented manner. On November 20, the entertainment giant will see the inaugural sailing of the Disney Destiny, a 144,000 gross ton ship capable of carrying 4,000 passengers that is the latest in a growing fleet. It’s the fourth addition in the past four years. And five more ships are coming by 2031, which will bring the total to 13. An expansion like that isn’t cheap, but Disney is making a lot of sizable wagers these days. The new ships are part of a $60 billion capital investment between now and 2033, which includes a variety of planned updat…

Bitmoji is going back to 2D. Snapchat announced Monday that a new Bitmoji style inspired by the classic 2D look will be an option for Snapchat+ subscribers in the coming days. The revamped style for the app’s popular avatars is called Comic Bitmoji. Bitmoji’s 3D redesign in 2023 allowed Snapchat to launch new body types and deliver faster on top fashion requests, from low-rise jeans to saris, says Swetha Dhamodharan, a senior product director at Snapchat. But there’s been growing calls to bring back the old 2D comic style. One online petition to bring back the style has racked up nearly 100,000 signatures. “I think that there’s just a little bit of nostal…