Good morning.
At the Coins2Day CEO Initiative dinner last night in San Francisco, one attendee brought extra security and spoke about how they now have someone protect their family at home. Earlier this week, a CEO told me that their child is having nightmares about them being killed.
The arrest of Luigi Mangione has done little to calm corporate leaders, who are struggling to understand the outpouring of support for the alleged killer of UnitedHealthcare CEO Brian Thompson. I’ve reached out to dozens of leaders to get their reaction and wanted to share some thoughts anonymously.
CEOs are used to being targets. “I don’t think you could be a CEO and not have threats against your life, if you’re going through bankruptcy or have to reduce labor,” noted one leader who’d been through both. What feels different to them this time is the lack of consequences for people issuing threats or cheering on a man’s murder on social media, not to mention the rhetoric coming from some politicians. “There are people in Congress who want to ‘stick it to corporate America.’ Well, corporate America is made up of hard-working Americans who do their best to reward the investors and many times those investors are pension funds.”
One CEO in the insurance sector said their challenge is keeping employees engaged: “How do you maintain a sense of purpose if you think your customers hate you?”
Noted another: “I have to wonder if the demonization of corporate America and the wealthy over the last four years planted a mind virus in the assassin’s mind.”
For that, some blame my own sector: the media. “Journalists look for heroes and villains; life is not that simple. Why is the killer getting 10 times as much press as the person who was killed?”
And some have taken this moment to reflect. “When I was growing up, CEOs didn’t make millions more than everyone else in the company. I think we have to reflect on why there’s so much anger and do something about it.”
More news below.
Diane Brady
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TOP NEWS
Ellevest CEO steps down
Ellevest CEO Sallie Krawcheck announced that she is stepping down as head of the investment platform after 10 years, and appointing Ellevest executives Sylvia Kwan and Connie Hsiung as co-CEOs. Krawcheck cited an undisclosed diagnosis as the reason for the exit. Coins2Day
GM stops funding robotaxi business
General Motors announced that it will stop giving money to its Cruise robotaxi business and pivot those resources toward developing self-driving technology for consumer vehicles. GM CEO Mary Barra blamed the “considerable time and expense required to scale a robotaxi business and an increasingly competitive market” for the decision. Coins2Day
Former Amazon executive on AI’s future
During Coins2Day’s Brainstorm AI conference in San Francisco, Dave Clark, a former Amazon executive and the founder of AI-startup auger, predicted that AI will allow people to “engage their brains better.” On worries that AI will eliminate human jobs, Clark says there’s “too much hand wringing about it.” Coins2Day
AROUND THE WATERCOOLER
Inflection’s CEO talks about rebuilding a startup, AI ‘in dialogue with the planet,’ and working with Trump by Kali Hays
DreamWorks founder Jeffrey Katzenberg says top Hollywood writers and showrunners are welcoming AI as ‘amazing,’ ‘inspiring,’ tools by Jason Del Rey
Luigi Mangione, accused UnitedHealthcare CEO shooter, came from a prominent real estate family and attended a $37,000-a-year private high school by Sasha Rogelberg
Citigroup CFO tells Goldman Sachs audience why his bank failed to meet regulatory requirements by Michael del Castillo
Hawk Tuah girl wanted to reward fans with a memecoin—crypto insiders turned it into a ‘one-day pump and dump’ by Leo Schwartz
Startup that went viral for ‘firing stressed employees’ claims it was stunt gone wrong—now they’re offering massages and spa sessions to staff by Christiaan Hetzner
This edition of CEO Daily was curated by Joey Abrams.