China said its economy grew 4.8% in the first three months of the year compared with a year earlier, though economic activity has only cooled since then as the lockdown of Shanghai and other Chinese cities wreaked havoc on supply chains, logistics networks and business operations. The dangers at the global level are high," she said. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Directory. Revenue in the first three months of the year was helped by customers booking a record number of nights and what are known as experiences during the quarter and hosts raising nightly rates because of inflation. Morgan Stanleys Mr. Gorman said he wouldnt be surprised if the U.S. entered a mild recession in the future, noting the mixed history of previous interest-rate increase cycles from the Federal Reserve. With hybrid work becoming a reality for most office-based companies, what should the workplace look and feel like? Any violation of this policy may result in termination of Membership at our discretion. As a result, inflation is omnipresent and geopolitical uncertainty driven by the war in Ukraine is on the rise. The Microsoft co-founder and global philanthropist said political leaders had a role to play in combating misinformation. Changes to Agreement. Please review it by clicking below. 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What has changed for the long term, and what lies ahead for the digital economy? (if applicable) for The Wall Street Journal. Both speakers emphasized the need for companies to provide spaces for workers to collaborate, feel valued and have friends. Oil prices jumped on Wednesday in the wake of the EU announcement. Airbnb Chief Executive Brian Chesky shared his views on the future of work, predicting the end of a hybrid three-day workweek many companies are pursuing. Build the right relationships with a group of peers who will challenge, advise, support and inspire. Please note that your Membership does not include any travel or hotel expenses, which are your own responsibility. Treasury Secretary Janet Yellen said that although the U.S. economy and labor market remain strong, inflation is too high. What are the potential flashpoints ahead and how should CEOs adapt to the fast-changing world? In such case, we will refund a pro rata portion of the Membership Fee. Each C-Suite membership is anchored by Member Meeting(s) where WSJ editors meet with members to discuss and debate the key issues facing global business and brands. Choice of Law. It posted $1.5 billion in revenue in the three months through March and issued a strong outlook for the current quarter. About WSJ News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. WSJ Subscription. With interest rates poised to rise further and war in Ukraine triggering far-reaching sanctions against Russia and a jump in commodity prices, what lies ahead for the American economy? It has also helped to push already high inflation above 8% in the U.S., roiling equity and bond markets, and causing further disruption across supply chains. Ms. Cameron said it was important for companies to be transparent about the hacks they suffer to educate other potential victims. WSJ CIO Network Key Benefits of CIO Membership Timely Insights for Your Business Chart your company's path forward using the trusted insight and analysis only the Journal can provide. Limitations. You may cancel your subscription at anytime by calling An office, as we know it, is kind of an outdated notion. You will be notified in advance of term renewals and of any changes to the Membership Fee that would apply to each renewal. 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He said Coca-Cola and other companies were building up buffer stocks of necessary materialsa trend he said only added to supply pressures. I hope lots of brilliant people are thinking about it, but it is a huge problem in terms of legitimacy of the elections or medical innovations.. Bill Gates said he is unsure of Elon Musks motives in buying Twitter Inc. and that social media needs to play a role in preventing the spread of misinformation. By continuing your membership, you accept these updates. CEO Council. The WSJ.com subscription referenced in the Membership benefits applies to new digital subscriptions only and cannot be used to replace already existing subscriptions your Company may have. LIMITATIONS ON LIABILITY. In such case, we will refund a pro rata portion of the Membership Fee. Membership Fee. Mr. Gates said he was often the subject of misinformation amid the pandemic and that not all misinformation stems from social media, such as the popularity of taking hydroxychloroquine for Covid-19. Membership Term. Economic growth has slowed, but inflation remains persistent in key areas, raising concerns that the Feds balance-sheet size could force the Fed to take rates even higher. Other than your Company, no third party is a beneficiary of this Agreement. Cyberattacks on business have become commonplace, both from ransomware groups and state actors. This is a sponsored session. We are going to have a much smaller office footprint and will probably spend a little more money on travel entertainment to gather people, he said Wednesday at The Wall Street Journals CEO Council Summit. That means he expects more aggressive interest-rate increases from the Federal Reserve starting on Wednesday afternoon. The Wall Street Journal CFO Network connects top executives in this expansive role to examine their biggest challenges and lead to a profitable tomorrow. Membership Fee. The members of The Wall Street Journal's CEO Council and speakers at the 2016 conference. About WSJ News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Were not seeing those criminal ransomware groups playing a significant role buttressing Russias capabilities in and around the Russia-Ukraine conflict at this moment in time, Ms. Neuberger said. China is open for business. That is bad news for the dollar. Changes to Agreement. Attendees at The Wall Street Journal's 2014 CEO Council. A combination of record-low rates and record-high fiscal stimulus to combat the Covid-19 economic crisis led to strong global growth and, eventually, an overheating economy, he said. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In. At Google, Heatherwick Studio is testing out using sliding doors between desk spaces so workers can indicate whether they are available for conversations by how open their doors are. If we do not approve your Membership, we will provide you a refund of the Membership Fee. Its a bit like baboons showing how available they are to mate, Mr. Heatherwick said. How did Airbnb adapt to the rapid shifts of the past two years and what has changed for the long term. (if applicable) for The Wall Street Journal. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Airbnb Inc. Chief Executive Brian Chesky said he plans for a smaller office and expects the company to spend more on travel as the workplace evolves to employees living more dispersed. A Conversation with President Volodymyr Zelensky. Membership is subject to our approval and is limited to CIOs and CTOs (or equivalent titles) of major companies, as determined by us in our sole discretion. You will be notified in advance of term renewals and of any changes to the Membership Fee that would apply to each renewal. Membership Term. If you leave your current position as CFO for any reason, your Membership cannot transfer with you to your new position and must be reassigned to the newly appointed CFO at your current Company. I think, after compensation, flexibility will be the most important benefit.. Sign In. No Solicitation. CEO Council benefits help members build the right relationships, engage in honest, off-the-record conversations with equals and influence the path forward on key issues that affect not only business but the world. Please note that your Membership does not include any travel or hotel expenses, which are your own responsibility. Under no circumstances shall we be responsible for any loss or damage resulting in any way in connection with the Member Benefits, including, without limitation, any Member Benefits available through Suppliers, attendance at an event or from the conduct of any other, whether online or offline. You will be charged Recently, the model for Chinese companies is be reasonable, be legal, and be empathetic, Ms. Jin said. Limitations. LIMITATIONS ON LIABILITY. Surging inflation and the conflict in Ukraine have left a cloud of uncertainty over business, the economy and markets. Co-Founder and CEO Egnyte Shamim Mohammad EVP, Chief Information and Technology Officer CarMax Wendy M. Pfeiffer Chief Information Officer Nutanix Matthew Prince Co-Founder and CEO Cloudflare. Sign In. Well definitely spend less money on office space, he said. The Membership term is for a period of one (1) year and automatically renews thereafter for one (1) year terms until terminated in accordance with this Agreement. What are the lessons for running a global consumer company today? Airbnb recently said it would let employees live and work almost anywhere with no pay cut; many employees will come together in-person as little as once a quarter. The Member Directory is only available to other members of the CFO Network and can be used to network with your fellow Members. By continuing your membership, you accept these updates. I would like to receive updates and information about this membership, other WSJ Conferences, and special offers from Dow Jones and affiliates. Visitors cite his wealth and connections. Supply-chain snarls have contributed to inflation, raising the cost of materials, with plenty of uncertainties there, too. James Quincey of Coca-Cola Co. talked about how the company is working to ramp up the resilience of its supply chain and how CEOs are under pressure to speak up on hot-button issues. We may publish your name, headshot, bio and Companys name and logo, in their correct and current forms, on our CFO Network websites and other marketing materials for the purpose of identifying the Company as a member of the CFO Network. Dow Jones may change Membership eligibility standards at any time. The stupid construct of the office is gone, said Thomas Heatherwick, founder of Heatherwick Studio, which is designing Alphabet Inc.s new campus for Google in Mountainview, Calif. Making people work from offices five days a week had infantilized workers but the pandemic had released people from imprisonment," he added. No Transfer of Membership or Member Benefits. You agree that this Agreement, as well as any and all claims arising from this Agreement will be governed by and construed in accordance with the laws of the State of New York, United States of America, without regard to any conflict or choice of law principles. Republican presidential hopeful wants a clearer U.S. strategy in the Middle East and big changes in the tax code. Infosys CEO Salil Parekh will discuss how farsighted CEOs are revamping their digital playbooks from the top down. If we invented an office today, what would it do? he asked. (Simon Williams for The Wall Street Journal). You are not permitted to transfer, or permit another person to use, your Membership at any time. DJIA. By continuing your membership, you accept these updates. Sponsor Session: Economic Diversification Through Tourism. It is a serious situation, Ms. Jin said. MOREOVER, YOU AGREE THAT YOUR ACCESS TO, AND USE OF, THE MEMBER BENEFITS IS ON AN AS-IS, AS AVAILABLE BASIS AND WE SPECIFICALLY DISCLAIM ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY REPRESENTATIONS OR WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. The company has about 6,000 employees and they won't all be in the office at the same time, he said, reducing the need for floorspace. These companies were growing so fast particularly because they were given free rein. Other than your Company, no third party is a beneficiary of this Agreement. This copy is for your personal, non-commercial use only. (if applicable) for The Wall Street Journal. Entire Agreement. The Trust is a commercial department at The Wall Street Journal. Privacy and Your Account. Valuable. At UC Santa Cruz, 44% of undergraduates are considered obscenely rent burdened, threatening their ability to afford higher education. We have had 11 rate increase cycles in the past 40 years and five or six have been a soft landing. Covid-19 disrupted travel around the world and changed the habits of holiday and business travelers alike. Your information may be stored and processed in the United States or any other country where Dow Jones has facilities, and by using Dow Jones, you consent to the transfer of information outside of your country. We cant find the page you're looking for. You agree that by attending or participating in an event, you grant Dow Jones, and our respective affiliates and successors an exclusive, transferable, worldwide, fully paid-up, royalty-free, perpetual, irrevocable, sub-licensable right and license to use your name, photograph, image, voice and biographical information in such photography, recordings or videotapes and to use, publicly perform, display, translate, adapt, reproduce, and/or create derivative works from such photography, recordings or videotapes in any and all media or technology, now known or later developed, in any manner, in whole or part, with or without attribution. I don't think I remember the Chinese economy being, close to being in this state for as long as the last 20 years. IF ANY APPLICABLE AUTHORITY HOLDS ANY PORTION OF THIS SECTION TO BE UNENFORCEABLE, THEN THE DOW JONES PARTIES LIABILITY WILL BE LIMITED TO THE FULLEST POSSIBLE EXTENT PERMITTED BY APPLICABLE LAW. What do Russian sanctions, soaring inflation, interest rate hikes and the risks of more supply disruptions out of China mean for the financial outlook? Though Airbnb hasnt settled on any plan to renovate its spaces, Mr. Chesky said offices would need to better serve single purposes, making it easier for employees to give a presentation or design creatively. I would like to receive updates and information about this membership, other WSJ Conferences, and special offers from Dow Jones and affiliates. How does the world prevent it happening again? Let's not forget that main message, Ms. Jin said. Entire Agreement. CEOs and corporate boardrooms are undergoing a fundamental shift in how they think about the revenue process. By continuing your membership, you accept these updates. What sort of peace might be possible? (Simon Williams for The Wall Street Journal). While you may cancel your Membership at any time by notifying us, we do not offer refunds. More important than the physical design, though, is a cultural shift that will free people from having to regularly commute to such spaces, he said. You will be notified in advance of any changes in rate or terms. We will explore what this era of volatility and rapid change means for CEOs as they attempt to adapt and transition their businesses to a more sustainable footing. Be responsible to society. our Subscriber Agreement and by copyright law. Please review it by clicking below. Members may not solicit any business from other Members or use any member information, including any information contained in the Member Directory, for any purpose other than as set forth herein. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. He added that if Mr. Musk "makes Twitter worse, fine, Ill speak out about that, but I wouldnt assume thats whats going to happen.. Right to Terminate. WSJ CMO Network Cannes Key Benefits of Membership Valuable Connections Meet fellow change-makers who will challenge, advise, support and inspire. We reserve the right to photograph, record and videotape any event in which you attend or participate. Mr. Gates responded he hadnt closed it out, to which Mr. Musk said he cant take Mr. Gatess philanthropy seriously if he was shorting the electric-car company. Airbnb stands to benefit from a longer-term shift to remote work, which gives people more flexibility to travel and potentially rent property through the company. For all litigation which may be brought, with respect to any controversy or claim, arising out of or relating to this Agreement or any relationship between us, the sole jurisdiction and venue for such litigation will be an appropriate federal or state court located in the County of New York in the State of New York. Mr. Gates didnt directly answer a question about whether he had personally shorted Tesla, saying that climate change was a focus of the Gates Foundation. Offices, too, must morph into more inviting spaces that will draw employees in and accommodate changing work styles, some said. What are the flashpoints ahead and how should CEOs adapt to the fast-changing world? $ + tax MEMBERSHIPS MAY 02, 2023 - MAY 04, 2023 The Future of Everything Festival Next year's festival will be May 2-4, 2023. The 1984 ruling, known as the Chevron deference, directs courts to defer to a federal agencys legal approach when Congress has left the statutory language ambiguous, which some conservatives have come to oppose. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. What does the rest of 2022 hold? MOREOVER, YOU AGREE THAT YOUR ACCESS TO, AND USE OF, THE MEMBER BENEFITS IS ON AN AS-IS, AS AVAILABLE BASIS AND WE SPECIFICALLY DISCLAIM ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY REPRESENTATIONS OR WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. This Agreement contains the final and entire agreement between us regarding your use of the Member Benefits and your Membership generally and supersedes all previous and contemporaneous oral or written agreements regarding your use of the Member Benefits and the Membership generally. If we'd said to people in 2019December of 2019two years from now, you can work from home one or two days a week, people would die and go to heaven, Mr. Gorman said. Chinas sweeping crackdown on private businesses is aimed at making them more accountable and empathetic, echoing similar policy moves in the West, Chinese economist Keyu Jin said. Members may not solicit any business from other Members or use any member information, including any information contained in the Member Directory, for any purpose other than as set forth herein. We are delighted that you'd like to resume your subscription. She said that if a peace agreement were reached, there is a path to de-escalate sanctions. Registration data and other information about you are subject to our Privacy Policy. You will be notified in advance of any changes in rate or terms. You will be notified in advance. "The outlook is very uncertain. No Solicitation. The CEO of Airbnb Inc. is certain that the ideal work schedule is no more than two days in the office. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. No Transfer of Membership or Member Benefits. Third Party Beneficiaries. Ms. Cameron also urged businesses to think twice before paying a ransom if they fall victim to an attack. Russias invasion of Ukraine has triggered the biggest conflict in Europe since the Second World War and upended global geopolitics. Customer Service. The San Francisco-based company on Tuesday said it expected to post its first full-year net profit this year after its revenue climbed 70% last quarter as people continued to book suburban rentals despite hosts raising prices. What have we learned? "We need to see the conditions exactly how this is going to be accomplished because it could lead to higher global oil prices as well," she said. Please review it by clicking below. I am requesting membership information on behalf of an Executive, I am requesting membership information for myself. Bill Gates spoke earlier in the session about his relationship with Elon Musk and gave his thoughts on Covid-19 policies. Customer Service. The vast majority of our employees are in Atlanta, Georgia, and that's not a matter on the table at the moment, he said. Its primarily, as its currently designed, an anachronistic form factor from a predigital age., James Gorman, CEO of Morgan Stanley, said he views weekly in-person work as fundamental to the companys culture. Ms. Yellen spoke Wednesday at The Wall Street Journal's CEO Council Summit in London. In such case, we will refund a pro rata portion of the Membership Fee. If Member chooses not to renew Membership, Members must provide at least thirty (30) days written notice to Dow Jones before the end of the then current term. DISCLAIMERS OF WARRANTIES. This suggests to us theyre both more comfortable with people being in their home but also maybe they have a greater financial need, he said. Discover the extraordinary ideas shaping our future when The Wall Street. What happens next on the ground? Surging inflation and the conflict in Ukraine have left a cloud of uncertainty over business, the economy and markets. The most talented people live everywhere, Mr. Chesky said. We have a leadership problem, and we have a platform problem., The way that you make those platforms spread truth and not crazy stuff, theres some real invention required there, and its partly in the political realm, Mr. Gates said. 4, 2022 at 7:38 PM.css-fucoz3{fill:rgba(34,34,34,1);vertical-align:unset;display:inline-block;-webkit-margin-start:8px;margin-inline-start:8px;}@media screen and (prefers-reduced-motion: no-preference){.css-fucoz3{transition-property:fill;transition-duration:200ms;transition-timing-function:cubic-bezier(0, 0, .5, 1);}}@media screen and (prefers-reduced-motion: reduce){.css-fucoz3{transition-property:fill;transition-duration:0ms;transition-timing-function:cubic-bezier(0, 0, .5, 1);}}, Airbnb CEO Brian Chesky said he believes hybrid work schedules announced by many employers will begin to unravel. Airbnbs gross bookingsthe value of bookings made on its platformgrew 67% to $17.2 billion, a record. Senior Representative, National Cyber Security Centre, U.K. A leaked draft of a Supreme Court opinion overturning Roe v. Wadethe landmark case establishing abortion as a constitutional right in the U.S.has sent shockwaves through the American political and legal system, signaling a potential reshuffle of campaign priorities with the midterm elections just six months away. The conflicting visions for the future of work were on display Wednesday during The Wall Street Journals CEO Council Summit in which corporate leaders, academics and government officials sounded off on threats like inflation, supply-chain bottlenecks, and the crisis in Ukraine, while also sharing their views on the way office spaces, work schedules and companies might evolve. For all litigation which may be brought, with respect to any controversy or claim, arising out of or relating to this Agreement or any relationship between us, the sole jurisdiction and venue for such litigation will be an appropriate federal or state court located in the County of New York in the State of New York. A bit like baboons showing how available they are, Mr. Heatherwick said, but the space also has a long table where employees can collaborate when necessary. As revenue governance rises to a board-level issue, well discuss how CEOs can confidently project and deliver revenue expectations that go beyond predictable to scalable and highly profitable. This is a transformation in how we conduct ourselves, yet for some reason its seen by some people as a radical infringement on people's rights.. Treasury Secretary Janet Yellen said the U.S. economy and labor market remained strong, though she said inflation is too high. U.S. banks are also well capitalized, which should help the U.S. weather any economic slowdown. Be responsible to consumers. But she didnt rule out that Russia could again engage with the global economy. . In return for the payment of the Membership Fee and all renewal fees, we will provide you access to special events and benefits (Member Benefits) described in the membership materials. But, he said, Its not totally clear what he is going to do.. Mr. Quincey said it is difficult to predict the effect of Covid-19 lockdowns in China. Lindy Cameron, the chief of the British governments National Cyber Security Centre, told the CEO Council that ransomware remains the biggest threatto the U.K. and specifically to U.K. business.. As for how people do their jobs, Ms. Yellen said some change is likely to become permanent. Member Benefits. The technology crackdown is not about driving out private businesses and hurting the billionaires, said Ms. Jin, an associate professor of economics at the London School of Economics, in an interview at The Wall Street Journals CEO Council Summit. Ms. Jin said Chinas economy was in a very fragile state, with pressures ranging from the fight against the pandemic to regulatory crackdowns to a battered real-estate market. Limitations. 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News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. If we do not approve your Membership, we will provide you a refund of the Membership Fee. I applaud Tesla's role in helping with climate change." Brian Chesky, the chief executive of Airbnb, said he believes the hybrid schedules announced by many employers will begin to unravel over the coming weeks.