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Good day. Geoff Colvin here, sitting for Diane. In these decorous summer days, in which the CEO and other hard load executives observe an unwritten pact to take it easy, or at least easier, face a rare opportunity to think great thoughts. An appropriate beach book for them, which offers strong thoughts decidedly relevant to entrepreneurs, would be Leading to prosper By Klaus Kleinfeld. The former CEO of Alcoa and Siemens now spends his days investing in non -public companies, while also advising the CEO and helping their daughters to administer their probiotic company (he began his career in the pharmaceutical industry). But he also burned to write a book “for a practitioner for professionals” and “separate the theories that sound good about those who work well in the real world.”
The result, unlike most CEO books, does not begin with leadership, team development, board administration or other CEO issues. Those are for the second half of the book. The first half is “the internal game”, demanding staff “energy, approach and resistance”. Speaking with me recently, he recognizes his sins, “pushing the teams because he had a clear idea of what he wanted to do that day.” He insisted that his team continue working after midnight, just to find in the morning that the idea was terrible, and people were too exhausted to think clearly. This is how he learned that energy management is much more important than time management. “That is why I have this strong focus on how you earn and preserve energy,” he says. His formula involves the old Roman philosopher Seneca, a Vietnamese Buddhist monk, Friedrich Nietzsche, Dalai Lama and many others.
Kleinfeld despises the concept of separation from working life. Yes, he says: “You play multiple roles,” but ultimately, “you are a person.” The idea that “I have a private life and I have a business life, that is not the way the world works. Actually, it is a very old industrial idea that was not before the industrial era, and will not survive the posindustrial world.”
After all, he says: “It’s a life.” I would advise anyone to “really think about what excites them, what takes them in the morning. Think about it and spend time on it.” When he reflects on his own elections, he says he always remembers Bronnie Ware’s work, an Australian palliative nurse who cataloged the regrets of death. “One of the main regrets is: ‘I wish I would have let me be happier,” he says. “This is as simple as it sounds, but it also has the deep wisdom that happiness is a decision you make.”Geoff Colvin
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Contact the Daily CEO through Diane Brady at Diane.brady@fortune.com
Main news
The world awaits Powell
The president of the Federal Reserve, Jerome Powell, offers his long -awaited opening speech in Jackson Hole today, in the midst of the intense pressure of the Trump administration on the central bank hesitation of reducing interest rates. Analysts are struggling to predict Fed’s thinking due to a weak job market and hot inflation readings. The big questions in the minds of investors: Powell will indicate that it is likely that a rate cut is next month? And will you reveal your plans after your mandate expires next year?
China, United States … and Nvidia stayed between
The CEO of Nvidia, Jensen Huang, is reiterating that the H20 chip Does not possess a threat To China’s national security, after the reports that Beijing is asking the technology companies to stop buying the company’s chips. The information He reports that Nvidia is asking some suppliers to stop work in H20. Nvidia He denies strongly Add rear and kill switches to your products. Huang, who is currently visiting TSMC, added that Nvidia is in conversations with the United States about an H20 successor.
There are no US visas for truck drivers
The United States will do so Pause Issue workers’ visas For commercial truck drivers after a fatal accident in Florida last week that involved a allegedly undocumented driver. The Secretary of State, Marco Rubio, said that foreign drivers are “endangering American life and undermining the livelihoods of US truck drivers.” The State Department confirmed separately that Continue examining The 55 million foreigners who have valid visas from the United States, even after entering the country.
Deepseek emerges once again
The China Depseek startup has updated One of its AI models only two weeks after the new GPT-5 of OpenAi. Experts say that V3.1 of Deepseek has characteristics similar to the main American border models, while keeping low computer costs. The actions in semiconductor manufacturing International Corporation, the largest chips manufacturer in China, increased almost 10% in the Hong Kong trade on Friday.
Men behind financial world freedom
Eric Trump and Donald Trump Jr., the children of the president of the United States, are two of the leaders behind World Liberty Financial, a cryptography business that has a network agreement for billions since its foundation last year. FortuneBen Weiss recently visited the Trump organization headquarters for meet men Behind the company.
The markets
S&P 500 futures They are 0.1% ahead of Jackson’s speech Hole from Powell. Asian markets are mixed today: CSI 300 from China has increased 2.1% today, while HANG Kong Hang Seng has increased by 0.9%; Nikkei 225 from Japan increases by 0.1%, while Nifty 50 from India It has currently decreased by 0.7%. He Stoxx Europe 600 has increased by 0.2%. Bitcoin It has dropped 0.6%, extending a 7 -day drop.
Around the stroller
The white collar labor market is frozen: now waiters and baristas are seeing a higher salary growth than Jessica Coacci’s desktop workers
Bernie Sanders and Donald Trump form an unlikely alliance in more than billions in chip manufacturers subsidies By Eva Roytburg
Trump obtains $ 100 million bond purchase spree: this is what could indicate about future interest rates by Marco Quiroz-Gutierrez
Steve Jobs did not become a billionaire thanks to Apple Leader, but rather his work with a film company that bought George Lucas By Preston Fore
The CEO of today’s edition, Daily, is compiled and edited by Joey Abrams and Nicholas Gordon.
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