Rapid Response: Why business must be a force for good, w/former American Express CEO Ken Chenault
Masters of Scale
WaitWhat
4.6 • 4.4K Ratings
🗓️ 2 June 2022
⏱️ 34 minutes
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Summary
"Corporations can be a force for good – and they can also be very successful," says Ken Chenault, chair of investment firm General Catalyst and former longtime CEO of American Express. During the past year, Ken has been an outspoken advocate for business leaders to actively engage in societal matters. After George Floyd’s death, he and Merck CEO Ken Frazier launched OneTen, a coalition to create 1 million jobs for Black Americans that now includes major brands from IBM to Nike to Walmart. Chenault has pushed corporate chiefs to use their leverage to protect voting rights, and he's come out with a platform for Responsible Innovation that puts what he calls “social due diligence” alongside financial due diligence. Standing up for what's right, Ken says, fuels long-term success: "The most important thing is the quest for truth, character, and values."
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Transcript
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| 0:00.0 | Real leaders don't back down when the stakes are high. They innovate. They push forward, |
| 0:07.5 | and then they take the stage at the Masters of Scale Summit. |
| 0:11.6 | Join us in San Francisco, October 7th to 9th to hear from the CEO of the New York Times, |
| 0:17.1 | scientists using cutting-edge technology to find cures, the leader of crypto powerhouse |
| 0:22.0 | Coinbase, a retired four-star general, and many, many more. |
| 0:26.7 | Apply now at mastersofscale.com slash apply 25. |
| 0:31.7 | That's masters of scale.com slash apply 25. |
| 0:36.9 | Your company's data is everywhere in systems, in silos and across teams. But if your |
| 0:42.8 | AI can't reach it, then that data isn't working for you. Every business has unique data, |
| 0:48.0 | what really makes a difference is how you use it. IBM helps your AI access your data wherever |
| 0:53.4 | it lives to change how you do business. Let's |
| 0:57.0 | create smarter business, IBM. Hey listeners, it's Bob. As we move past the second anniversary of |
| 1:05.3 | George Floyd's murder, we're re-releasing my rapid response episode with Ken Chenal, the former CEO of American Express, |
| 1:13.5 | and one of the few longstanding black leaders at the top of the Fortune 500. |
| 1:18.2 | Ken is now chair of VC firm General Catalyst and co-founder of the nonprofit 110, |
| 1:24.3 | dedicated to opening workforce opportunities for black Americans. |
| 1:28.5 | It's among the most memorable episodes I've done. |
| 1:31.7 | Ken shares how George Floyd's death motivated him, |
| 1:35.2 | and he reflects on his experiences as a black leader in business |
| 1:38.7 | and on the responsibilities of all leaders. |
| 1:41.7 | He also provides deep lessons about driving success and long-term impact and the |
| 1:46.9 | connection between social action and the scaled journey. Since this episode was originally released, |
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