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Good morning. The company Thomas Edison helped found in 1892 to light up the world is now betting its future on powering the AI age. As GE Vernova CEO Scott Strazik told me recently, \u201cFor us, our true north is to electrify the world. And if we electrify the world, we will decarbonize the world.\u201d<\/p>\n
GE Vernova\u2019s equipment and technology are used to generate about 25% of the world\u2019s electricity, whether it\u2019s gas, wind, steam, hydro, or nuclear energy. It also produces equipment and software for power grids. (Shawn Tully recently wrote about GE\u2019s turnaround and its split into three entities: GE Vernova is No. 124 on the Fortune 500, GE Aerospace is No. 101, and GE Healthcare is No. 217.) Since GE Vernova became an independent public company in April 2024, the stock is up more than 600%.<\/p>\n
But behind those incredible numbers is a deliberate strategy: Strazik has successfully pivoted to new growth areas, in part by turning new customers such as NVIDIA and nuclear-energy startup Blue Energy into R&D partners. In an era of accelerating speed and complexity of transformation, that\u2019s a playbook worth studying.<\/p>\n
\u201cThe technical hurdle with how they want to run AI factories is much more complex than our standard\u2011fare offering, and that\u2019s great,\u201d said Strazik. \u201cWhat I see happening is a lot of the technology we\u2019re developing to help them \u2026 will ultimately apply to the broader grid over time. But they will have funded a lot of the learning curve.\u201d<\/p>\n
Strazik appreciates but is not sentimental about the past, noting that \u201c25% of our employees today weren\u2019t part of the company the day we spun. They don\u2019t even know GE.\u201d The same is true for customers, 25% of whom only started buying from the company after it spun off, he added: \u201cTechnology companies that historically were not buying directly from us have become critical customers and strategic partners.\u201d<\/p>\n
What Strazik thinks about is not just the technology but talent: \u201cWe need kids that get excited about building stuff, because we need to build a lot of stuff in the next decade.\u201d<\/p>\n
Contact CEO Daily via Diane Brady at diane.brady@fortune.com<\/p>\n
Top leadership news<\/p>\n
Schools running VCs<\/p>\n
Crystal Springs, a 569-student private day school located on the peninsula between San Francisco and Silicon Valley, is one of a small but growing number of Silicon Valley private schools that have built what amount to miniature venture capital funds. The funds are capitalized with donations from the school community, guided and overseen by parent-investors from well-connected firms such as Lightspeed, Notable Capital, and Sequoia, and are aimed at early-stage, pre-IPO companies. \u00a0<\/p>\n
Altman\u2019s magic email address<\/p>\n
OpenAI is seeking to clear internal bottlenecks with an email address that lands in the inboxes of the company\u2019s leadership team. An employee can email friction@openai.com to raise issues ranging from a technical system that isn\u2019t working to office-related frustrations, such as not having enough IT vending machines. A former OpenAI employee who spoke to Fortune praised the friction system as an effective way for leadership to get ground-level feedback, saying: \u201cLiterally anybody can complain about big company bullsh*t directly to Sam and they can act on it.\u201d<\/p>\n
Inside AI-free ChatTJB<\/p>\n
Former Google employee Tucker Bryant has built a chatbot that behaves like many others: Users ask a question and wait for a response. The difference with ChatTJB is that an LLM or algorithm doesn\u2019t create the answer. It\u2019s written by Bryant, or increasingly, one of the more than 10,000 people who\u2019ve applied to help him answer all those questions. Bryant told Fortune the volunteer waitlist is growing by roughly 1,000 people a day, turning what started as an art project about AI dependence into a strange reversal of the AI boom\u2019s defining anxiety.<\/p>\n
The markets<\/p>\n
S&P 500 futures are up 0.016% this morning. The STOXX Europe 600 was down 0.02% in early trading. The U.K.\u2019s FTSE 100 was down 0.07% in early trading. The Nikkei 225 is up 0.83%. South Korea\u2019s KOSPI was up 3.68%. China\u2019s CSI 300 was up 0.58%. Hong Kong\u2019s Hang Seng was down 1.01%. India\u2019s NIFTY 50 was down 0.73%. Bitcoin was down at $63K.<\/p>\n
Around the watercooler<\/p>\n
How a book that inspired Warren Buffett and a $14,000 side hustle helped billionaire Bill Ackman get started as an investor By Emma Burleigh\u00a0<\/p>\n
Long-time OpenAI exec Brad Lightcap is leaving the ChatGPT maker to \u2018start something new\u2019 By Emily Forlini\u00a0<\/p>\n
France hits unsolicited telemarketers with $87,000 fine per call, following similar provisions in other European nations By Joshua Hong<\/p>\n
Former deputy mayor and now Mamdani nemesis sued the city\u2019s pied-\u00e0-terre tax rollout. The city froze the judge\u2019s pause within hours By Catherina Gioino<\/p>\n
CEO Daily is curated and edited by Joseph Abrams, Jason Ma, Claire Zillman, and Lee Clifford.<\/p>\n
#Scott #Straziks #stunning #turnaround #Vernova<\/p>\n","protected":false},"excerpt":{"rendered":"
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