The default setting at corporate Christmas parties is a sort of cautious politeness And lo, it was early December. And the bosses said unto the workers: A Christmas party you shall have. Fun shall be organised with your co-workers and food shall be consumed.
One common reason I heard is that bankers simply like to flex - not necessarily their visible arms, but where they work - as many firms give out branded vests. "It's an earned status thing. You put in a lot of work to get to equity research for your team, to get to the PM role for a team, to be able to get to that said firm," one analyst told me. "That's why you wear it."
According to Amazon CEO Andy Jassy, this week's 14,000 layoffs were not caused by a focus on AI or to cut costs. Instead, the massive layoffs are intended to kickstart a cultural change within the company. Amazon reported quarterly revenue of $180.2 billion, a 13% increase year-on-year. Profits amounted to $21 billion. Nevertheless, the company is taking a $1.8 billion charge for severance payments this quarter.
Thomas says that combination has sharpened his understanding of why many large companies fail to innovate. "It comes down to one word," he says. "Iteration." Thomas explains that most large organizations are wired for scale, not speed. Their instinct is to map out multi-year roadmaps and place bold, high-stakes bets-an approach that runs counter to the quick experimentation and continuous feedback loops that true iteration requires. In most big companies, he says, that kind of flexible, trial-and-error mindset simply isn't part of the culture.
Elliott Hill spent his entire career at Nike. But he spent a full year as its CEO before giving his first media interview in the role. In mid-October, the company invited a select group of global journalists to Beaverton, Oregon, to see the latest in Nike innovations. We tried a slew of ambitious products that will hit the market over the next year plus: mind-altering footwear, exoskeleton sneakers, and a jacket that inflates to keep you warm.
When Steve Jobs wanted to motivate his Mac team at Apple, he didn't give them corporate pep talks or send them to management retreats. Instead, he told them they were "pirates" fighting against the "navy." The message was clear: stay scrappy, stay rebellious, and don't let the corporate machine slow you down. That pirate mentality worked. The Mac team moved fast, took risks, and delivered something revolutionary.
iBuying was never out of vogue, Rabois said, addressing comments about Redfin's and Zillow's exits from the space. It was out of vogue because Redfin and Zillow didn't know how to do it. We were always successful. We minted free cash flow every year I was involved in the company. However, it's very complicated and very difficult to do iBuying well, but the value proposition of certainty, transactional speed is incredibly compelling to Americans.
Donna Morris has one go-to question that helps determine whether she'll hire you - and knowing it in advance won't help you script the perfect response, she says. The question is: "If I was to ask people who've worked for you before, what will they tell me?" As executive vice president and chief people officer at Walmart, Morris oversees the largest private workforce in the US.
If a self-directed, virtual, or hybrid work schedule is essential for you to manage your career aspirations and life challenges, you will have a difficult time aligning your priorities with those of the company and the culture we aim to establish.
CEO Brian Niccol emphasized the importance of in-person collaboration, stating, "We are reestablishing our in-office culture because we do our best work when we're together. We share ideas more effectively, creatively solve hard problems, and move much faster."
When Mackey sold the business to Amazon in 2017, he committed to staying on for five years. Over time, however, struggles with the retail behemoth around culture took a toll, Mackey said.
If you take your eye off either the customer or the employee and you get very internally focused, it's a recipe for failure.
