Monday, July 1, 2019

When AOC Met Greta Thunberg

The daily dish on the world's most powerful women.

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July 1, 2019

Good morning, Broadsheet readers! Emma Hinchliffe here today. The RealReal pulls off a strong IPO, Phebe Novakovic discusses her career path, and AOC meets an idol—Greta Thunberg. Have a lovely Monday.


EVERYONE'S TALKING


- When AOC met Greta. Our youngest-ever congresswoman, and one of the most powerful young activists making waves today—Rep. Alexandria Ocasio-Cortez and climate activist Greta Thunberg—have a lot in common.


In a conversation in The Guardian, the duo interviewed each other about climate change, the differences between the U.S. and Thunberg's home country of Sweden on the issue, and, of course, being young and underestimated.


It's one of the first things AOC asked 16-year-old Thunberg: how she deals with critics who say she's too young to know what she believes.


"I'm also allowed to have a say—why shouldn't I be able to form my own opinion and try to change people's minds?" Thunberg told the congresswoman. "But I'm sure you hear that a lot, too; that you're too young and too inexperienced."


With AOC's Green New Deal, the pair are aligned on most of the issues. Thunberg might even be a more extreme activist; she doesn't fly because of its effect on the climate and is trying to figure out how to get to the United States for the UN Climate Action Summit in September.


The interview is a compliment-fest, featuring two women who clearly admire and respect each other. "I think the mere refusal to accept [how things have always been done] can change our world. That's exactly what you've done," AOC tells Thunberg.


"I think we've both done that," she responds. Guardian 


Emma Hinchliffe


emma.hinchliffe@fortune.com


@_emmahinchliffe


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ALSO IN THE HEADLINES


- GD's Phebe. General Dynamics' Phebe Novakovic gave some rare insight into her career path in national security at a Boston College event recently. A highlight: "Men will follow women, and they'll work with women if they believe that you are as committed, as top, as relentless." Washington Post 


- Tax that. Liesel Pritzker Simmons is part of a growing minority of the ultra-wealthy speaking out about the importance of paying their fair share. A member of the family behind the Hyatt hotel group, Pritzker Simmons was behind an open letter from 17 super-rich individuals calling for a wealth tax. BBC 


- The real deal. The RealReal's IPO on Friday was a resounding success; its stock jumped 50% after debuting. The IPO was the second for founder Julie Wainwright, who took Pets.com public in 2000. CNBC 


MOVERS AND SHAKERS: JUST Capital added Abigail Disney, Grameen American president and CEO Andrea Jung, Hewlett Packard Enterprise chairman Pat Russo, and Metropolitan Museum of Art VP of revenue and operations Laurel Britton to its board of directors.


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Content From Deloitte

Make Work Meaningful
Research shows that people want to do meaningful work. But how can companies improve the employee—and human—experience? Deloitte explores the benefits of looking beyond perks, rewards and support, to focusing on job fit, design and meaning. Read more


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IN CASE YOU MISSED IT


- Constitutional pride. GLAAD closed out Pride Month by amping up its public push for a constitutional amendment that would explicitly protect lesbian, gay, bisexual and transgender people from discrimination. The idea faces some pushback from fellow LGBT activists who say it's not realistic; CEO Sarah Kate Ellis knows it's a "moonshot," but isn't giving up. New York Times


- Mark your calendars. The date is set. (No, not the wedding—that happened already.) Elizabeth Holmes will face trial in federal court over Theranos in August 2020, a judge determined Friday. Wall Street Journal 


- Career change. WNBA star Maya Moore isn't playing this season—because she's busy trying to free Jonathan Irons, who she believes was wrongfully convicted at age 16 of burglary and assault with a deadly weapon. Moore is 30, at the prime of her career, and she says she's answering a call from God. New York Times 


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ON MY RADAR


I've picked my job over my kids New York Times 


HP Enterprise women make headway in gender pay gap lawsuit Bloomberg 


Ophelia: The female gaze is strong in this one Vulture 


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QUOTE


When it's bad, you call women to the rescue. —IMF chief Christine Lagarde


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CEO Daily: What Trump and Xi's Agreement Means

Our daily brief on must-read business news…and more.

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July 1, 2019

Good morning.


Asian markets are celebrating the Saturday agreement by Presidents Trump and Xi to restart trade talks. But there is widespread skepticism on both sides of the world that the handshake in Osaka has done much to change the dynamics of the dispute between the two countries.


The agreement, unlike the one in Buenos Aires last December, carries no timetables or deadlines. Rather than moving the two sides closer to a deal, it seems to be, in the words of one analyst quoted in the South China Morning Post, "kicking the can further down the road." The Wall Street Journal says both sides face a tough job "appeasing hard line factions within their own government." And an analysis in the New York Times says the deal "could further cement a broad reshuffling of the global economic order that undermines China's decades-long role as the world's factory floor." (Interestingly, Apple moved against that trend Friday, announcing it was moving production of the Mac Pro to China.)


The biggest news from the two leaders' 80-minute trade talk, aside from some massive new Chinese purchases of soybeans, was an easing of some of the restrictions on Huawei. But that brought a warning from hardline U.S. legislators not to let national security become a bargaining chip.


I'm in Hong Kong this morning, where markets are closed to celebrate the 22nd anniversary of Hong Kong's handover to China. Protestors are disrupting the day's celebrations.


More news below.


Alan Murray @alansmurray alan.murray@fortune.com

Top News


DMZ Step


President Trump stepped into North Korea yesterday, giving dictator Kim Jong-un a huge validation coup. As AP put it: "Afterward, it was unclear whether the meeting was more show than substance. Other than the headline-grabbing moment and the unprecedented images, Trump's only accomplishment appeared to be securing an agreement to restart nuclear talks that he himself had walked out on in February during his last summit with Kim in Vietnam." Fortune


Swiss Stocks


Amid a breakdown in trade talks between the EU and Switzerland, the European Commission has allowed the expiration of the Swiss stock exchange's "equivalence" status. That means no more cross-border trading for now, with harsh penalties for those who try—as of today, European investors could be imprisoned for up top three years if they try trading NestlĂ© or Novartis shares in the EU rather than in Zurich. Financial Times


Hard Brexit


Jeremy Hunt, the rival to Boris Johnson for the post of U.K. prime minister, is trying to out-hardcore Johnson on the Brexit front. "At the beginning of October, if there is no prospect of a deal that can get through Parliament, then I will leave at the end of October because that is our democratic promise to the British people," he said in a TV interview. And would he be willing to look business-owners in the eye and tell them that their firms will go bust in order to achieve Brexit? "I would do so but I'd do it with a heavy heart." Guardian


Census Disinformation


Facebook will ban disinformation about the 2020 U.S. census, as civil rights groups and the U.S. Census Bureau have been asking it to do. "We're going to treat next year's Census like an election — with people, policies, and technology in place to protect against Census interference," said Facebook operations chief Sheryl Sandberg. NBC News


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Content From Deloitte

Disrupt The Disruptors

Is your competitor reinventing its business? Scanning external markets for disruption and having the courage to go on the offensive, may prove invaluable for CEOs hoping to innovate in today's rapidly changing world. Deloitte explains disruptive jiu-jitsu.


Read More


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Around the Water Cooler


Make Some Noise


As of today, new four-wheeled electric vehicles in the EU will need to include a noise-emitting device to ensure pedestrian safety. The devices will need to make some noise when the vehicle is reversing or travelling below 12mph—these are the circumstances where pedestrians tend to be nearby. From 2021 the devices will need to be fitted to all electric vehicles, not just new cars. BBC


EU Manufacturing


European Union factory activity contracted for the fifth month in a row, per the latest IHS Markit PMI figures. In fact, June's shrinkage was faster than previously thought. Reuters


Bitcoin Fall


Bitcoin lost more than a tenth of its value over the weekend—unusually, because many of its gains this year have taken place over weekends. The best-known cryptocurrency has still appreciated in value three-fold this year. Bloomberg


Extinction Event


A bunch of German entomologists say the volume of insects they catch/observe has fallen by more than three quarters since the early 1980s. This is one of the biggest die-offs in the history of the Earth, and it's due to urbanization and intensive agriculture practices. They noted: "Unless we change our ways of producing food, insects as a whole will go down the path of extinction in a few decades." AFP


This edition of CEO Daily was edited by David Meyer. Find previous editions here, and sign up for other Fortune newsletters here.


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