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| DealBook Conference Live Updates: Google C.E.O.’s Mea Culpa | |
| (about 1 hour later) | |
| • Welcome to the live briefing for DealBook’s Playing for the Long Term conference. Check back regularly to read the latest from the event. | • Welcome to the live briefing for DealBook’s Playing for the Long Term conference. Check back regularly to read the latest from the event. |
| • Google’s chief executive, Sundar Pichai, said there has been frustration inside the company after revelations that it gave men who were accused of misconduct millions of dollars in exit packages. | |
| • Lachlan Murdoch of Fox | |
| • Larry Fink of BlackRock says his social responsibility push is not a passing fad. | • Larry Fink of BlackRock says his social responsibility push is not a passing fad. |
| • Nancy Dubuc, the newly installed chief executive of Vice Media, says the company is nearing profitability. | • Nancy Dubuc, the newly installed chief executive of Vice Media, says the company is nearing profitability. |
| Google’s chief executive, Sundar Pichai, issued a mea culpa of sorts as its employees around the world held walkouts to protest how the company ha handled sexual harassment. | |
| “It’s been a difficult time here,” he said on Thursday. “There’s been anger and frustration within the company. We all feel it. I feel it too. At Google, we set a very high bar, and we clearly didn’t live up to our expectations.” | |
| The company gave male executives millions of dollars in exit packages after they were accused of sexual misconduct, according to an article in The New York Times last week. On Thursday, Mr. Pichai said that the company has “drawn a very hard line” on inappropriate behavior in recent years and that Google is now “a different place.” | |
| But, he added, “moments like this show we didn’t always do it right.” He promised that “there are concrete steps coming up,” but he hesitated to say that Google has a toxic culture. | |
| “Sexual harassment is a societal problem and Google is a large company,” he said. “We are definitely doing our best.” | |
| Mr. Pichai’s tenure atop Google has been fraught with internal clashes and external finger-pointing. | |
| Last summer, he fired a software engineer who circulated a memo questioning Google’s diversity strategy and the tech industry’s gender gap. Pushback against the move, as well as support for it, came swiftly — the employee, James Damore, sued Google in January for workplace discrimination. | |
| “We are a company that’s about freedom of expression and information,” Mr. Pichai said, adding that “we allow people to speak up” but “also have a code of conduct.” | |
| Republican legislators have hounded the company with allegations of political bias. A video posted in September to the right-wing media site Breitbart showed Google executives, including Mr. Pichai, bemoaning the election of President Trump while at a company meeting in 2016. | |
| Mr. Pichai, and other top Google executives, skipped a Senate committee hearing that month about foreign interference in elections. The absence was viewed as a slight by many in Congress and was pointedly marked by an empty chair next to Twitter’s chief executive, Jack Dorsey, and Facebook’s chief operating officer, Sheryl Sandberg, as they testified. | |
| Criticism of Google’s no-show led to Mr. Pichai arriving in Washington within weeks to hear out Republicans’ concerns. | |
| Mr. Pichai said on Thursday that Google, which is based in Northern California, has “local left-leaning employees and local right-leaning employees” but stressed that the company has a global mind-set. Besides, he said, personal political leanings are “different than how we build our products, and we are committed to doing it in a nonpartisan way.” | |
| When asked about the company’s intentions in China, Mr. Pichai insisted that “there’s nothing we’re doing right now” on the so-called Dragonfly plan and that Google would consult with the federal government before making a move. | |
| — Tiffany Hsu | |
| Lachlan Murdoch was named chief executive and chairman of his family’s new television business shortly after his father, Rupert, sold most of the empire to the Walt Disney Company this year. | Lachlan Murdoch was named chief executive and chairman of his family’s new television business shortly after his father, Rupert, sold most of the empire to the Walt Disney Company this year. |
| Making a rare public appearance today at the DealBook conference, the 47-year-old executive examined the family’s latest round of deal making and what it could mean for the family’s other assets. In particular, he spoke about the newspaper business under News Corp, a roster that includes The Wall Street Journal and The New York Post, as well as The Times and The Sun in Britain. | Making a rare public appearance today at the DealBook conference, the 47-year-old executive examined the family’s latest round of deal making and what it could mean for the family’s other assets. In particular, he spoke about the newspaper business under News Corp, a roster that includes The Wall Street Journal and The New York Post, as well as The Times and The Sun in Britain. |
| The sale of Fox’s film and TV studios to Disney prompted a question about whether his father would ever sell The Wall Street Journal, which Mr. Murdoch acquired in 2007 for over $5 billion. | The sale of Fox’s film and TV studios to Disney prompted a question about whether his father would ever sell The Wall Street Journal, which Mr. Murdoch acquired in 2007 for over $5 billion. |
| “I never thought we’d sell the TV studio, the film studio, so who knows?” Lachlan responded. In the next breath, he said of his father, “He loves journalism. He loves The Wall Street Journal and what it represents.” | “I never thought we’d sell the TV studio, the film studio, so who knows?” Lachlan responded. In the next breath, he said of his father, “He loves journalism. He loves The Wall Street Journal and what it represents.” |
| The businesses that will remain under the control of the Murdochs after the close of the Disney deal early next year will center on news and sports. That means Lachlan will run Fox News, the Fox Broadcasting network and the FS1 cable sports network. | The businesses that will remain under the control of the Murdochs after the close of the Disney deal early next year will center on news and sports. That means Lachlan will run Fox News, the Fox Broadcasting network and the FS1 cable sports network. |
| Fox News, in particular, has come under heavy criticism for its close ties to the Trump administration. The president tends to favor the network, often calling into its morning show, “Fox and Friends,” or speaking privately with its prime-time star Sean Hannity. That has led to charges from critics that Fox News, and the larger Murdoch TV business, is actually a red state media organization. | Fox News, in particular, has come under heavy criticism for its close ties to the Trump administration. The president tends to favor the network, often calling into its morning show, “Fox and Friends,” or speaking privately with its prime-time star Sean Hannity. That has led to charges from critics that Fox News, and the larger Murdoch TV business, is actually a red state media organization. |
| Lachlan disagreed. “I think about it as an all-state media organization,” he said, later adding that, “we program to everyone. It’s to the coasts. But also everywhere in-between.” | Lachlan disagreed. “I think about it as an all-state media organization,” he said, later adding that, “we program to everyone. It’s to the coasts. But also everywhere in-between.” |
| He cited figures that showed more Fox viewers are tuned to its sober news segments than the fiery opinion hours. “I think a lot of people don’t realize that,” he said. | He cited figures that showed more Fox viewers are tuned to its sober news segments than the fiery opinion hours. “I think a lot of people don’t realize that,” he said. |
| And what does he think about the fact that Trump likes Fox News so much? | And what does he think about the fact that Trump likes Fox News so much? |
| “I think he dislikes us less than everyone else,” he said. “If you look at Shepherd Smith; if you’ll look at Chris Wallace; Geraldo was on ‘Fox and Friends’ this morning criticizing the president; there are huge hours a day with guest contributors who don’t agree with President Trump.” | “I think he dislikes us less than everyone else,” he said. “If you look at Shepherd Smith; if you’ll look at Chris Wallace; Geraldo was on ‘Fox and Friends’ this morning criticizing the president; there are huge hours a day with guest contributors who don’t agree with President Trump.” |
| Lachlan said he doesn’t envision changing the Fox News anchor desk anytime soon. And he appeared to rule out a return of Megyn Kelly, the former star of NBC’s “Today” show, to the fold for now. | Lachlan said he doesn’t envision changing the Fox News anchor desk anytime soon. And he appeared to rule out a return of Megyn Kelly, the former star of NBC’s “Today” show, to the fold for now. |
| “I’m a big fan of Megyn’s,” he said. “I like her a lot. We didn’t want her to leave Fox when she did. Having said that I am very happy with our current lineup on Fox. We won’t be making any changes there.” | “I’m a big fan of Megyn’s,” he said. “I like her a lot. We didn’t want her to leave Fox when she did. Having said that I am very happy with our current lineup on Fox. We won’t be making any changes there.” |
| — Edmund Lee | — Edmund Lee |
| Padma Lakshmi believes in redemption for men brought down amid the #MeToo movement. | |
| But that redemption should come from genuine remorse and understanding of the impact of one’s actions, as Ms. Lakshmi said Thursday, and shouldn’t be driven by a man’s being good at a certain job. | |
| “Their talent is not somehow a pass,” she said at the DealBook conference Playing for the Long Term. “It does not exempt them from really having to be disgraced, because what they did was disgraceful.” | |
| It was one of the lessons that Ms. Lakshmi and her fellow panelist, Lisa Borders, sought to impress on their audience, which erupted in rare mid-presentation applause after Ms. Lakshmi’s comments. Ms. Borders simply pointed to Ms. Lakshmi and said she agreed “100 percent.” | |
| The women discussed how the #MeToo movement continued to revolutionize gender dynamics across the workplace, culture, in social circles and in sports and education. Both have become vocal leaders. | |
| Ms. Lakshmi, the host and an executive producer of “Top Chef” as well as model, wrote an op-ed in The New York Times in September revealing that she was raped at the age of 16 and empathizing with women who waited years to disclose sexual assault. | |
| The op-ed was published as two women came forward to detail accusations against Brett Kavanaugh, the Supreme Court nominee, and President Trump questioned why one of the women, Christine Blasey Ford, didn’t report the incident when it happened more than 30 years ago. | |
| Ms. Borders, formerly the president of the W.N.B.A., was named chief executive of Time’s Up, a legal advocacy group for women in the workplace, last month, and her first day on the job was Thursday. The organization aims to tackle workplace discrimination around the world. | |
| The conversation was wide-ranging as Ms. Borders and Ms. Lakshmi described the need for a cultural shift, not just in the workplace, but particularly in how men are socialized and boys are raised. | |
| “We need to stop equating aggression and masculinity because I think that’s a big part of it,” Ms. Lakshmi said. | |
| Ms. Borders said there needed to be more transparency, particularly on the issue of salaries, so women would know if they were being underpaid. She said that companies should understand that policies and practices that empower women also help organizations as a whole. | |
| “We add value,” Ms. Borders said. | |
| Both women said the ability to share stories through social media had helped strengthen the #MeToo movement and create a time of real social change. Ms. Borders said there was a recognition among what she called survivors of sexual abuse that their stories were not “our burden to bear but society’s burden to bear.” | |
| “And it lit fire,” she said. | |
| Evan Spiegel, the chief executive of Snap, the maker of the disappearing-message app Snapchat, said broadcasting regulations offer a framework for how to think about the dangers of social media. | |
| “If you look historically at America, a place that’s always celebrated things like free speech, we’ve actually always thought about broadcasting really differently than how we thought about communication,” he said. | |
| While Americans have long accepted most forms of speech, even the distasteful kind, they have been less tolerant when that speech is widely distributed, he said, noting that broadcasters are subject to regulations on what they can and can’t say or show. | |
| “I think we’re in this weird moment in time where this behavior’s been enabled technically and the regulatory framework actually hasn’t caught up to that reality,” Mr. Spiegel said. | |
| When asked if he was suggesting that social media should be regulated, Mr. Spiegel said only that there was much to learn from how Americans have thought about the responsibility of broadcasters in the past. The challenge, though, is identifying what, exactly, broadcasting is, he said. | |
| “We understand what one-on-one communication is, but let’s say your Uncle Joe, for example, has some very extreme, maybe not so accurate, views on the world and he wants to reach 500 people. Is that OK? If he wants to reach 50,000 people, is that OK? If he wants to reach 100,000, is that OK? Where do we draw the line in terms of where broadcasting is versus communication with friends?” | |
| Some have argued that social media has enabled social change, but Mr. Spiegel said that view is overly simplistic. | |
| “One of the more dangerous things that I’ve seen is this idea that just using your voice is going to make a big difference,” he said. “That’s a piece of it, that’s half of it, but the other half is really taking action to implement that change.” | |
| As to concerns of the contrary — that social media is actually coarsening discourse — Mr. Spiegel said that is by design. | |
| “There’s actually a higher propensity of negative content to be shared on these services because negative content has more engagement,” he said. “And so I think you’ve actually ended up with system’s that have incentivized negative behavior.” | |
| Snapchat, he said, has tried to avoid incentivizing such behavior, he said. But, nonetheless, the company has struggled to grow, a reality which Mr. Spiegel attributed to a number of challenges. | |
| On one hand, the company can expand its core demographic beyond those aged 13 to 34, he said. On the other, it can work to expand to users beyond North America and Europe. To do that, the company is already working to improve the user experience on Android, a difficult platform for Snapchat to develop for, but one that is popular abroad. | |
| — Niraj Chokshi | |
| To address corporate America’s diversity problem, Ken Frazier sees a lesson in his own past. | To address corporate America’s diversity problem, Ken Frazier sees a lesson in his own past. |
| The chief executive of Merck is one of only three black chief executives in the Fortune 500. But growing up as the son of a janitor in inner-city Philadelphia, Mr. Frazier faced an opportunity gap. Fortunately for him, a desegregation policy and a 90-minute daily bus ride that gave him time to read helped to overcome it. | The chief executive of Merck is one of only three black chief executives in the Fortune 500. But growing up as the son of a janitor in inner-city Philadelphia, Mr. Frazier faced an opportunity gap. Fortunately for him, a desegregation policy and a 90-minute daily bus ride that gave him time to read helped to overcome it. |
| “I look back at my own life and I realize that I was treated in an extraordinary way in this country,” he said. | “I look back at my own life and I realize that I was treated in an extraordinary way in this country,” he said. |
| As the nation increasingly self-segregates, Mr. Frazier said, the workplace is one of the few remaining places that offers that same opportunity for people of different backgrounds to interact — and business leaders, he says, have a responsibility to uphold that basic American value. | As the nation increasingly self-segregates, Mr. Frazier said, the workplace is one of the few remaining places that offers that same opportunity for people of different backgrounds to interact — and business leaders, he says, have a responsibility to uphold that basic American value. |
| That conviction led Mr. Frazier to step down last year from President Trump’s manufacturing advisory council, the first of many executives to do so after the president equivocated in his response to white nationalist violence in Charlottesville, Va., in August 2017. | That conviction led Mr. Frazier to step down last year from President Trump’s manufacturing advisory council, the first of many executives to do so after the president equivocated in his response to white nationalist violence in Charlottesville, Va., in August 2017. |
| “For me, it was a very clear personal decision as a matter of conscience,” Mr. Frazier said. “I happen to believe that political discourse, political speech, has consequences.” | “For me, it was a very clear personal decision as a matter of conscience,” Mr. Frazier said. “I happen to believe that political discourse, political speech, has consequences.” |
| At Merck, Mr. Frazier has tried to operate by those same principles. | At Merck, Mr. Frazier has tried to operate by those same principles. |
| “I think as a group of business leaders we have to think about the impact to our society,” he said, citing the need to address the “problem” with health care costs in America and a frustrating lack of transparency in drug pricing. | “I think as a group of business leaders we have to think about the impact to our society,” he said, citing the need to address the “problem” with health care costs in America and a frustrating lack of transparency in drug pricing. |
| Merck, he said, is transparent, but many others along the supply chain are not: “There’s a lot of people between my back door and the consumer,” he said. | Merck, he said, is transparent, but many others along the supply chain are not: “There’s a lot of people between my back door and the consumer,” he said. |
| — Niraj Chokshi | — Niraj Chokshi |
| Mary T. Barra, the chief executive of General Motors, said that the company plans to roll out a ride-sharing service that would rely on autonomous vehicles in 2019, a development that would advance the already-heated race to bring self-driving cars to market. | Mary T. Barra, the chief executive of General Motors, said that the company plans to roll out a ride-sharing service that would rely on autonomous vehicles in 2019, a development that would advance the already-heated race to bring self-driving cars to market. |
| “We’re on track, with our rate of learning, to be able to do that next year,” Ms. Barra said, adding that the company had a strategy to show how its vehicles are safer than human drivers. The vehicles can currently run safely at speeds of up to about 30 miles per hour, and the service will be limited to a small geographical area, Ms. Barra said. | “We’re on track, with our rate of learning, to be able to do that next year,” Ms. Barra said, adding that the company had a strategy to show how its vehicles are safer than human drivers. The vehicles can currently run safely at speeds of up to about 30 miles per hour, and the service will be limited to a small geographical area, Ms. Barra said. |
| She did not say where the service would operate, but noted that the company has been testing in San Francisco. | She did not say where the service would operate, but noted that the company has been testing in San Francisco. |
| Autonomous vehicles rely on what Ms. Barra described as “a suite of sensors,” including radar, cameras and a technology known as lidar. G.M. is focused on advancements to lidar, which will drive down costs and enable the vehicles to travel at higher speeds, she said. | Autonomous vehicles rely on what Ms. Barra described as “a suite of sensors,” including radar, cameras and a technology known as lidar. G.M. is focused on advancements to lidar, which will drive down costs and enable the vehicles to travel at higher speeds, she said. |
| After substantial investments this year from SoftBank Group of Japan and Honda, G.M.’s autonomous vehicle unit, Cruise, is now valued at $14.6 billion. | After substantial investments this year from SoftBank Group of Japan and Honda, G.M.’s autonomous vehicle unit, Cruise, is now valued at $14.6 billion. |
| Ms. Barra also explained why G.M. pushed back last week against a Trump administration proposal to roll back Obama-era fuel economy standards. The company instead called for a national gas mileage standard that would mandate a percentage of carmaker sales come from zero-emissions vehicles. | Ms. Barra also explained why G.M. pushed back last week against a Trump administration proposal to roll back Obama-era fuel economy standards. The company instead called for a national gas mileage standard that would mandate a percentage of carmaker sales come from zero-emissions vehicles. |
| “We do believe in an all-electric future,” she said, before warning that a patchwork of state regulations would only slow down advancements. | “We do believe in an all-electric future,” she said, before warning that a patchwork of state regulations would only slow down advancements. |
| “That’s inefficient and that’s going to direct costs to the consumer, which will lead to slower adoption,” she said. | “That’s inefficient and that’s going to direct costs to the consumer, which will lead to slower adoption,” she said. |
| — Niraj Chokshi | — Niraj Chokshi |
| Nancy Dubuc, the newly installed chief executive of Vice Media, announced at the conference today that the company will be profitable by “the next fiscal year.” That would be an important milestone for a business that was most recently valued at $5.7 billion. | Nancy Dubuc, the newly installed chief executive of Vice Media, announced at the conference today that the company will be profitable by “the next fiscal year.” That would be an important milestone for a business that was most recently valued at $5.7 billion. |
| “It actually was profitable a couple years ago, and then with all the expansion and investment, we made it not profitable,” she said. “But very, very quickly it’ll be profitable again.” | “It actually was profitable a couple years ago, and then with all the expansion and investment, we made it not profitable,” she said. “But very, very quickly it’ll be profitable again.” |
| Cost cutting will help. But Ms. Dubuc characterized the forthcoming changes as a way to become more efficient. “When you have expansion everywhere, you’re obviously going to have duplication everywhere too,” she said. | Cost cutting will help. But Ms. Dubuc characterized the forthcoming changes as a way to become more efficient. “When you have expansion everywhere, you’re obviously going to have duplication everywhere too,” she said. |
| More critically, the company will be able to invest its profits in new areas for the business, including its online news operation. | More critically, the company will be able to invest its profits in new areas for the business, including its online news operation. |
| Vice started as a free punk magazine in Montreal in 1994 and has traded on its irreverent, brash tone to become a global media company with about 3,000 employees. Backed by media giants like the Walt Disney Company and 21st Century Fox, Vice now includes an advertising agency, a TV network, a film-production business and programs on HBO. | Vice started as a free punk magazine in Montreal in 1994 and has traded on its irreverent, brash tone to become a global media company with about 3,000 employees. Backed by media giants like the Walt Disney Company and 21st Century Fox, Vice now includes an advertising agency, a TV network, a film-production business and programs on HBO. |
| Ms. Dubuc, 49, also has the task of solving the company’s longstanding issues with sexual harassment. In December, a New York Times investigation detailed the mistreatment of women at the company and found four settlements involving allegations of sexual harassment or defamation against Vice employees. Altogether, more than two dozen women said they had experienced or witnessed sexual misconduct at the company. | Ms. Dubuc, 49, also has the task of solving the company’s longstanding issues with sexual harassment. In December, a New York Times investigation detailed the mistreatment of women at the company and found four settlements involving allegations of sexual harassment or defamation against Vice employees. Altogether, more than two dozen women said they had experienced or witnessed sexual misconduct at the company. |
| Vice founder Shane Smith responded to the article by pledging a series of changes, including pay equity and reaching gender parity within the work force. In a statement, he said, “from the top down, we have failed as a company to create a safe and inclusive workplace where everyone, especially women, can feel respected and thrive.” | Vice founder Shane Smith responded to the article by pledging a series of changes, including pay equity and reaching gender parity within the work force. In a statement, he said, “from the top down, we have failed as a company to create a safe and inclusive workplace where everyone, especially women, can feel respected and thrive.” |
| Ms. Dubuc said that she takes the responsibility of reforming the company’s culture very seriously. She also praised Mr. Smith for his response. | Ms. Dubuc said that she takes the responsibility of reforming the company’s culture very seriously. She also praised Mr. Smith for his response. |
| “Shane did a powerful thing and that was to take seriously the changes that needed to happen at Vice,” she said, later adding that her being named aschief executive was an important signal for the company to send. | |
| “I could have a pretty dramatic impact,” she said. | “I could have a pretty dramatic impact,” she said. |
| As to how Ms. Dubuc works with Mr. Smith, who has led the company for more than two decades and was made executive chairman after she joined the company? | As to how Ms. Dubuc works with Mr. Smith, who has led the company for more than two decades and was made executive chairman after she joined the company? |
| Very simple. “I run the show,” she said. | Very simple. “I run the show,” she said. |
| — Edmund Lee | — Edmund Lee |
| For someone who speaks often and loudly about taking a stand and doing good, Laurence D. Fink of BlackRock spends a lot of time thinking about gray areas. | For someone who speaks often and loudly about taking a stand and doing good, Laurence D. Fink of BlackRock spends a lot of time thinking about gray areas. |
| Mr. Fink, the founder, chairman and chief executive of the world’s largest asset manager, said that dropping out of Saudi Arabia’s big investment conference last month was a “hard decision.” So was the choice earlier this year to offer investment options stripped of stocks in gun manufacturers and retailers. | Mr. Fink, the founder, chairman and chief executive of the world’s largest asset manager, said that dropping out of Saudi Arabia’s big investment conference last month was a “hard decision.” So was the choice earlier this year to offer investment options stripped of stocks in gun manufacturers and retailers. |
| “These things are not black or white,” he said on Thursday at the DealBook conference in New York. | “These things are not black or white,” he said on Thursday at the DealBook conference in New York. |
| BlackRock has $6.5 trillion under management, giving it great influence over many of the world’s top public companies. In a conversation that ranged from tariffs to bitcoin, Mr. Fink returned repeatedly to ideas about corporate accountability. | BlackRock has $6.5 trillion under management, giving it great influence over many of the world’s top public companies. In a conversation that ranged from tariffs to bitcoin, Mr. Fink returned repeatedly to ideas about corporate accountability. |
| The billionaire investor Warren Buffett has said that he resists imposing his political views on his employees and clients because he is “not their nanny on that.” | The billionaire investor Warren Buffett has said that he resists imposing his political views on his employees and clients because he is “not their nanny on that.” |
| “I’m not a nanny either,” Mr. Fink said on Thursday. “I’m not telling companies what their purpose should be. But I do believe it’s up to the company to identify what their purpose is.” | “I’m not a nanny either,” Mr. Fink said on Thursday. “I’m not telling companies what their purpose should be. But I do believe it’s up to the company to identify what their purpose is.” |
| Earlier this year, he sent an open letter pressing public firms to consider not just their bottom lines, but also the broader community — a social responsibility manifesto forged through years of personal experience, public pressure and secret meetings. | Earlier this year, he sent an open letter pressing public firms to consider not just their bottom lines, but also the broader community — a social responsibility manifesto forged through years of personal experience, public pressure and secret meetings. |
| Mr. Fink withdrew last month from the high-profile investment conference in Riyadh amid allegations that Jamal Khashoggi, a prominent Saudi journalist, had been murdered and dismembered at a Saudi consulate in Turkey. | Mr. Fink withdrew last month from the high-profile investment conference in Riyadh amid allegations that Jamal Khashoggi, a prominent Saudi journalist, had been murdered and dismembered at a Saudi consulate in Turkey. |
| Other executives — including Mr. Dimon, Stephen A. Schwarzman of Blackstone and Dara Khosrowshahi of Uber — also dropped out of the event. Despite his refusal to attend what he called a “very public showcase” of the kingdom’s strengths, Mr. Fink said that BlackRock would continue to conduct business in Saudi Arabia, adding that he “never believed that decision would cost us all the business.” | Other executives — including Mr. Dimon, Stephen A. Schwarzman of Blackstone and Dara Khosrowshahi of Uber — also dropped out of the event. Despite his refusal to attend what he called a “very public showcase” of the kingdom’s strengths, Mr. Fink said that BlackRock would continue to conduct business in Saudi Arabia, adding that he “never believed that decision would cost us all the business.” |
| But he stressed that his attention to social responsibility is not a passing fad. | But he stressed that his attention to social responsibility is not a passing fad. |
| “I certainly never did this to be in vogue,” he said. “We’re doing this because we’re being asked.” | “I certainly never did this to be in vogue,” he said. “We’re doing this because we’re being asked.” |
| — Tiffany Hsu | — Tiffany Hsu |
| Steve Ballmer, the former chief executive of Microsoft, concluded his presentation on Thursday with the results of a poll he recently helped run: 61 percent of the people surveyed cared about using researched facts to help form their opinions on policy, beating the 54 percent who said their values shaped their opinions. | Steve Ballmer, the former chief executive of Microsoft, concluded his presentation on Thursday with the results of a poll he recently helped run: 61 percent of the people surveyed cared about using researched facts to help form their opinions on policy, beating the 54 percent who said their values shaped their opinions. |
| For Mr. Ballmer, that is central to a project he has been working on since he retired as chief executive of Microsoft in 2014 and has poured millions of dollars into: USAFacts, a nonpartisan database of federal, state and local government revenue and spending. | For Mr. Ballmer, that is central to a project he has been working on since he retired as chief executive of Microsoft in 2014 and has poured millions of dollars into: USAFacts, a nonpartisan database of federal, state and local government revenue and spending. |
| “I’ve spent the better part of four years trying to understand where government gets its revenue, where it spends its revenue,” Mr. Ballmer told the audience on Thursday. | “I’ve spent the better part of four years trying to understand where government gets its revenue, where it spends its revenue,” Mr. Ballmer told the audience on Thursday. |
| In a wide-ranging presentation, Mr. Ballmer ran through some highlights of the types of data his website provides, hitting on hot-button issues in the upcoming 2018 midterm elections. He also displayed a deep enthusiasm for the future of America, declaring that he bets on the “U.S. of A, baby” based on his belief that the country will continue to attract top engineering talent from around the world. | In a wide-ranging presentation, Mr. Ballmer ran through some highlights of the types of data his website provides, hitting on hot-button issues in the upcoming 2018 midterm elections. He also displayed a deep enthusiasm for the future of America, declaring that he bets on the “U.S. of A, baby” based on his belief that the country will continue to attract top engineering talent from around the world. |
| At the same time, he said America needs facts to filter the increasingly convoluted noise. In charts, Mr. Ballmer showed how he believes USAFacts can help be that filter. | At the same time, he said America needs facts to filter the increasingly convoluted noise. In charts, Mr. Ballmer showed how he believes USAFacts can help be that filter. |
| On immigration, for example, the number of undocumented immigrants in the United States rose from about 10.5 million to 12.1 million in recent years, according to USAFacts’ analysis of government data. The number of border agents has risen sharply from about 4,000 to 19,000 over the same period, while border apprehensions have decreased from roughly 1.7 million to 300,000, Mr. Ballmer said. | On immigration, for example, the number of undocumented immigrants in the United States rose from about 10.5 million to 12.1 million in recent years, according to USAFacts’ analysis of government data. The number of border agents has risen sharply from about 4,000 to 19,000 over the same period, while border apprehensions have decreased from roughly 1.7 million to 300,000, Mr. Ballmer said. |
| The numbers raise natural questions, Mr. Ballmer said. Why are there more border agents today, fewer apprehensions, but more undocumented immigrants? | The numbers raise natural questions, Mr. Ballmer said. Why are there more border agents today, fewer apprehensions, but more undocumented immigrants? |
| Mr. Ballmer has called USAFacts “the equivalent of a 10-K for government,” referring to the kind of annual financial filings that companies make. In 2017, he said he had spent more than $10 million in direct funding and grants on USAFacts, including hiring a team of researchers in Seattle. | Mr. Ballmer has called USAFacts “the equivalent of a 10-K for government,” referring to the kind of annual financial filings that companies make. In 2017, he said he had spent more than $10 million in direct funding and grants on USAFacts, including hiring a team of researchers in Seattle. |
| At times, the discussion steered away from USAFacts — and toward sports. Mr. Ballmer talked about how, as the owner of the Los Angeles Clippers, he felt he was being held more accountable than when he was a chief executive. He also expressed his desire to help keep the Seattle Seahawks in his hometown. | At times, the discussion steered away from USAFacts — and toward sports. Mr. Ballmer talked about how, as the owner of the Los Angeles Clippers, he felt he was being held more accountable than when he was a chief executive. He also expressed his desire to help keep the Seattle Seahawks in his hometown. |
| — Mihir Zaveri | — Mihir Zaveri |
| David Gelles, Corner Office columnist at The New York Times, presented the findings of a DealBook conference task force on diversity in the workplace, characterizing it as a “really lively discussion” that could have gone on for hours. Nonetheless, “we made a remarkable amount of progress in an hour,” he said. | |
| Among the conclusions of the report: | |
| • Aspirational goals are in general a good thing, but they’re not enough, said Stephanie Cohen, chief strategy officer for Goldman Sachs. Companies also need to be transparent in how they’re achieving those goals. In addition, there can’t be separate business and diversity scorecards – diversity needs to be part of the business. | |
| • Legislation and federal policies need to play a role. John Hope Bryant, founder and chief executive officer of Operation HOPE spoke about the need for a federal policy to give credit to companies that offer internships and apprenticeships, and when the effort is especially aimed at women and people of color, “you should get a double credit for that double reach,” he said. | |
| • Companies have to realize diversity is a long-term goal, and it has to be baked into its culture. “You can have policy and tactics, but if the culture is not ready to receive it,” it won’t work, said Thasunda Duckett, the chief executive of consumer banking at JP Morgan Chase. “Diversity is being asked to come to the party, inclusion is being asked to dance.” And everyone has to join the conversation, she said, noting that if a diversity and inclusion conversation includes only the head of diversity and women and minorities, “then you don’t have it right.” | |
| —Alina Tugend | |
| Rebecca Blumenstein, the deputy managing editor of New York Times, described the conversations of a DealBook conference task force, intended to establish guidelines on how to ethically implement A.I., as one of the “highest level discussions she has ever seen” about the technology. | Rebecca Blumenstein, the deputy managing editor of New York Times, described the conversations of a DealBook conference task force, intended to establish guidelines on how to ethically implement A.I., as one of the “highest level discussions she has ever seen” about the technology. |
| Among the conclusions of the panel: | Among the conclusions of the panel: |
| • Microsoft announced last month that it would sell military and intelligence agencies whatever advanced technologies they needed for the country’s defense, a move that came amid scrutiny over tech companies’ role in the development of next-generation cyberweapons. The task force concluded on Thursday that a partnership between tech companies and government is a good thing. The government should have access to the best technology available, said Microsoft’s executive vice president of business development Peggy Johnson. | • Microsoft announced last month that it would sell military and intelligence agencies whatever advanced technologies they needed for the country’s defense, a move that came amid scrutiny over tech companies’ role in the development of next-generation cyberweapons. The task force concluded on Thursday that a partnership between tech companies and government is a good thing. The government should have access to the best technology available, said Microsoft’s executive vice president of business development Peggy Johnson. |
| • Companies should take care to scrutinize their machine learning initiatives (and algorithms in general) for biases that may be passed on from their creators, said Dipayan Ghosh, a Pozen Fellow at the Shorenstein Center on Media, Politics and Public Policy at Harvard University. These technologies should be developed with greater consideration for the public interest. | • Companies should take care to scrutinize their machine learning initiatives (and algorithms in general) for biases that may be passed on from their creators, said Dipayan Ghosh, a Pozen Fellow at the Shorenstein Center on Media, Politics and Public Policy at Harvard University. These technologies should be developed with greater consideration for the public interest. |
| • In New York City, when considering artificial intelligence in transportation, companies should be transparent with the data they use in order to ensure the technologies are a benefit to society, said Cordell Schachter, the chief technology officer of the New York City Department of Transportation. | • In New York City, when considering artificial intelligence in transportation, companies should be transparent with the data they use in order to ensure the technologies are a benefit to society, said Cordell Schachter, the chief technology officer of the New York City Department of Transportation. |
| — Mihir Zaveri | — Mihir Zaveri |