Business
How GE CEO Larry Culp pulled off the turnaround of the century. Larry Culp became a CEO at 38 and since he took the helm as CEO, GE has seen its market cap go from $96 billion to a little below $700 billion. His success is touted as one of the remarkable turnaround stories in recent memory. Larry must have done quite a few things right, but two things stood out to me. First, he decentralized the management of each of GE’s business. Second, he made it important for everyone to talk about problems at GE, not just success or feels-good stories.
How executives with international experience give grocers a critical edge. More and more US grocers and retailers are appointing executives with international experience. If working in smaller markets overseas were ever considered a step back professionally, the current trend is strongly disputing that notion.
If loyalty programs are so important, why doesn’t Trader Joe’s have one? Customers become loyal because they find value in a merchant, they feel heard, they have the consistency and they see that the brand itself aligns with their values. Not points. Not miles.
Inside SK Hynix: We Went To Korea To See The World’s Biggest AI Memory Buildout. It is mind-blowing that SK Group made a huge bet on High Bandwidth Memory at the time when there was absolutely any application.
The Business Behind The World’s Largest Elevator Company. The demand for new housing, especially apartments, presents a great opportunity for growth to Otis. The profit is not in building the new elevators, but servicing them. Servicing existing elevators makes up 90% of Otis’ profit.
Other Stuff I Find Interesting And So May You
The Argument Against AI Writing Is At Least 2,400 Years Old. Humans use technology and tools to be more productive and efficient. That’s absolutely true and I support that. The difference between that tenet and the role of AI in writing is that with industrialization, humans do not need the labor act while humans do benefit from the act of writing. Writing is hard. It takes a lot of energy. Writing shapes and sharpens thinking. Everyone can and will benefit from the act of writing. However, do we need to excel at slapping labels on bottles? No. I think this is what the debate comes down to.
He Transformed His Spanish Hometown. Did He Also Spoil It? It’s similar to how people say that money can’t buy happiness. Economic growth can’t win over all stakeholders. Some will inevitably be unhappy with the economic, social and cultural transformation. However, if the mayor of Malaga plunged the city into a collapse, would he have more fans than critics? Would he have more fans now?
N.Y.C. Congestion Pricing Has Little Effect on Air Quality, Study Finds. The congesting pricing initiative did not improve air quality of New York City as the main culprit is the sprawling of buildings. It; however, reduces the number of cars on the road and makes traffic a bit better for local residents.
A massive $10B Amazon data center project is quietly taking shape near Houston. Here’s a look inside. It’s insane to me that while these projects severely affect the lives of local citizens, the impacted stakeholders do not have much visibility into such projects and apparently not much say in the matter either. Yes, every hyperscaler will say that it will be a good neighbor and not use up water and electricity. Who would hold them accountable if they did not honor their word?
How tacos became Norway’s national comfort food. “This distinctly Norwegian tradition began thousands of miles away, in the US state of Texas. When Norway started drilling for oil in the North Sea in the late 1960s, it needed expertise from abroad. Among the arrivals were Texan oil workers and consultants, who brought not only knowledge of drilling but a taste for Tex-Mex. “In everyday life in Norway, a family dinner is not an event,” says Valebrokk. “People are busy, children go to sports clubs and many families will not sit down together to eat. On a Friday, that changes: it is a holy day for Norwegians when they finally relax together.” The Norwegian taco is a far cry from traditional Mexican tacos. It is typically hard shelled, filled with minced beef, and topped with cheese, sour cream and lettuce. It’s less about culinary authenticity than simplicity and participation.”
Stats
Among customers carrying a credit card balance, nearly one-third (30%) have $2,500 or more in debt
More than 56 million U.S. residents traveled overseas last year
Minh Quang Duong 
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