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FORTUNE is a global media organization dedicated to helping its readers, viewers, and attendees succeed big in business through unrivaled access and best-in-class storytelling. We drive the conversation about business. With a global perspective, the guiding wisdom of history, and an unflinching eye to the future, we report and reveal the stories that matter today—and that will matter even more tomorrow. With the trusted power to convene and challenge those who are shaping industry, commerce and society around the world, FORTUNE lights the path for global leaders—and gives them the tools to make business better.

Shizhan Yun

Fortune

If you didn’t know already, Wall Street loves AI. 

There’s broad consensus among banks, private equity firms, hedge funds, and investment research houses that the technology is set to revolutionize the global economy—all while boosting productivity and reducing costs for businesses. 

There is, of course, still a debate over what’s real and what’s hype. 

So, will AI be the holy grail of cost reduction for CFOs? 

These 5 stats make the case: https://trib.al/hzLV0aX

“Psychological safety in the workplace is extremely important—perhaps the most important—for the success of an organization,” says ex-Harvard professor Dr. Tal Ben-Shahar.

#Psychologicalsafety is when employees feel comfortable speaking up, disagreeing, and taking risks at work. 

According to Ben-Shahar, the best way for managers to create a psychologically safe environment is by being vulnerable and talking about their own shortcomings or concerns.

“If you open up, you’re much more likely to encourage others to do the same,” Ben-Shahar says. “Just as children need to fall down in order to learn how to walk, employees need to be able to fail in order to learn and grow.”

Read more at Fortune: https://lnkd.in/e6DTU-wv

Cybersecurity is at a crossroads.

4 million cyber experts are needed worldwide, and the threat landscape is becoming increasingly challenging with tech like AI making cyberattacks more common.

But at the same time, 47% of cybersecurity professionals have experienced layoffs, budget cuts, or freezes on their teams, and almost a third expect additional cutbacks next year.

This is according to ISC2's annual workforce study. According to its CEO, Clar Rosso, organizations need to be beefing up—not cutting their cyber teams. If not, they could risk financial or reputation losses.

Read more: | Fortune

https://lnkd.in/e2q9HmzF

#cybersecurity #cyber #cyberattack #ai #education #cyberskills

And the biggest loser is…the richest man in the world. 

Elon Musk’s wealth took a major hit following Tesla’s third-quarter earnings on October 18. In the days after the company reported profits and sales below analyst expectations, Tesla’s stock spiraled 23%, shaving $189 billion off its market capitalization and $41 billion off Musk’s own net worth. As of Monday, the Tesla CEO had a fortune of $193 billion, according to the Bloomberg Billionaires index.

The Tesla stock nosedive isn’t the only big loss for Musk this year. Since buying Twitter for $44 billion last October, the company, now known as X, has hemorrhaged $25 billion in value, according to recent reporting from Fortune that was based on an internal valuation by X. 

Musk has many huge successes in his business career. But the winning streak has been largely on pause lately as he struggles on a number of fronts. 

Read more: https://lnkd.in/eGZFSwKr

Once upon a time, Jeff Maggioncalda ground his teeth at the idea of his staff working from home one day a week. But now the CEO of the $2.6 billion online-learning platform Coursera is a remote work convert: he says the business retains talent for longer and finds it easier to hire high-quality candidates.

Since COVID-19, Coursera and its 1,400 employees have been remote-first, with the company meeting up about eight times a year but encouraging staff to work most days anywhere they like.

Maggioncalda, who earned more $29 million last year (the majority in stock awards) to oversee the major e-learning site which partners with Google and DeepLearning.AI, says he doesn’t know exactly where most of his workers are at any given time. 

It’s hard to imagine this is the same person who in 2019 apparently hated the company’s ‘No Meetings Wednesdays,’ allowing staff to work from home one day a week.

Read more about why he changed his mind: https://lnkd.in/eyYJSTJC

Former basketball icon Magic Johnson has become the fourth sports star to reach billionaire status, with a net worth of $1.2 billion, according to Forbes’ calculation.

Johnson joins fellow NBA superstars Michael Jordan and LeBron James, as well as Tiger Woods, to join the exclusive 10-figure club.

But most of the 64-year-old former Los Angeles Lakers guard’s wealth doesn’t come from sports—he only earned a total of $40 million during his 13-year career with the Lakers, a far cry from LeBron’s $480 million.

Read more: https://lnkd.in/eZvstCZk

Laxman Narasimhan's ethos for thriving in the workplace is simple: Take care of yourself first and avoid meetings after 6 p.m. unless they are vitally important.

Narasimha, CEO of Starbucks, took the reins of the global coffee giant just over a year ago. 

He credits mindfulness, exercise, and time with his family with helping him combat the burnout that’s commonplace in the c-suite—and its adverse physical and mental health effects.

“I’m very disciplined about balance,” Narasimhan tells Fortune.

Here are Narasimhan’s weekly non-negotiables for success at work and at home: https://lnkd.in/dVhVzGkn

While return-to-office mandates sweep the country, American workers are struggling with record levels of burnout and depression. The timing couldn’t be worse.

According to Wysa’s Employee Mental Health Report 2023, the largest study of its kind, 56% of North American workers reported symptoms of mild or more severe depression. Another report by Headspace found that 49% of employees feel a sense of dread at work at least once per week.

With such dire statistics, companies are scrambling to find a fix–and the solution may lie in the study of happiness.

“When people are happier, they are more productive, creative, innovative, and collaborative,” Tal Ben-Shahar, Ph.D.an ex-Harvard professor and the founder of the world’s first Master of Arts in happiness studies told Fortune.

Read his full interview: https://lnkd.in/e6DTU-wv

While return-to-office mandates sweep the country, American workers are struggling with record levels of burnout and depression.

The timing couldn’t be worse. 

According to Wysa’s Employee Mental Health Report 2023, the largest study of its kind, 56% of North American workers reported symptoms of mild or more severe depression. Another report by Headspace found that 49% of employees feel a sense of dread at work at least once per week. 

Dr. Tal Ben-Shahar, an ex-Harvard professor and the founder of the world's first Master of Arts in happiness studies, says the solution to corporate America's burnout epidemic may lie in the study of happiness. 

Read more at Fortune: https://lnkd.in/g2CBWBT3

For six years in a row, Finland has been named the happiest country in the world. But happiness is a misleading term–what really makes Finnish society and workplaces tick is trust.

As the metrics of the World Happiness Report demonstrate, Finnish happiness is ultimately underpinned by values–like social support and freedom–that are created by trust.

"At Framery Acoustics, a global company headquartered in Tampere, Finland, we prioritize trust in everything we do," writes Anni Hallila. the head of people and culture at Framery, in a new commentary piece. 

"It’s also why as a 400+-employee firm we’ve had less than 10% global turnover in all the years we’ve been in business–and why we’ve maintained market leadership in our sector. Trust drives results."

Read more: https://lnkd.in/e2NX2QNJ

Metric
Company Name	Global Finance	Global Financial Lab
Symbol
MSH ID	COM:GFMAG	COM:GLOBALFINLAB
Market	PRIVATE	PRIVATE
Sector	Finance and Lifestyle Media	Financial Services & Finance
Industry	Media and Publishing	Finance
Country	US	US
Stage
Employee Count	49
Website	fortune.com	globalfinlab.com/home
LinkedIn	global-finance-magazine
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