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The Next Big Idea

POWER FAILURE: What Happened to GE? (with Malcolm Gladwell & William Cohan)

The Next Big Idea

Next Big Idea Club

Social Sciences, Society & Culture, Education, Science

4.41.3K Ratings

🗓️ 19 January 2023

⏱️ 55 minutes

🧾️ Download transcript

Summary

General Electric used to be the most valuable company in the world; now it's practically irrelevant. What happened? Today on the show, we're going to find answers. And to help, we're turning to two writers who have followed the saga closely and written about it brilliantly: Malcolm Gladwell and William Cohan. --- • Check out "Power Failure: The Rise and Fall of an American Icon" and subscribe to Bill's newsletter, "Dry Powder" • Read Malcolm's New Yorker story: "Was Jack Welch the Greatest C.E.O. of His Day—or the Worst?" • For a closed-captioned version of this episode, click here • Download the Next Big Idea app to hear hundreds of book summaries written and read by the world's best non-fiction authors: nextbigideaclub.com/podcast

Transcript

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0:00.0

Hey there, I'm Leah Smart, host of Inly Arena, where we explore the stories and ideas that

0:06.7

increase clarity in our lives so we can work and live in a better world.

0:10.9

Tune in to my weekly podcast, wherever you like to listen.

0:16.4

LinkedIn presents

0:30.0

the history of the 20th century, you know, if you make a list of the 10 most interesting

0:34.6

important, well, more than that, important people in American, American of the 20th century,

0:39.6

he's one of them.

0:40.6

Absolutely, right?

0:41.6

I mean, he is the paradigmatic business leader of the post-warrior in America.

0:46.2

And my problem is, I just don't like him, I can't stand him.

0:51.5

I'm Rufus Griskem and this is the next big idea.

0:55.7

Today, Jack Welch made GE, the world's most valuable company.

1:00.9

Then what happened?

1:02.9

20 years ago, General Electric, GE, was arguably the most respected company in the world.

1:26.2

That was thanks, in large part, to its pugnacious chief executive, Jack Welch.

1:31.9

Now GE is frankly irrelevant.

1:35.2

How did that happen?

1:36.5

How did the fortunes of one of America's most iconic companies change so quickly?

1:41.4

Today on the show, we're going to find answers and to help return to two writers who have

1:46.1

followed the GE saga closely and written about it brilliantly, Bill Cohen and Malcolm

1:51.7

Gladwell.

1:52.7

But before we get to them, it helps to have a little backstory.

...

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