Fortune

When Jamie Dimon bought his first stock as a teenager, he could scarcely have imagined that, half a century later, his core investment lesson—don’t blow up—would underpin the risk culture of the world’s most powerful bank. Dimon, now the longtime CEO of JPMorgan Chase, discussed this formative lesson and its profound impact on his management style during a recent appearance on the “Acquired” podcast, taped live at New York’s Radio City Music Hall. Dimon’s introduction to the world of markets was guided by his father, a stockbroker. At just age 14 in 1972, Dimon purchased his first stock, only to watch the market nosedive by 45% within two years. “All the limousines on Wall Street were gone. Restaurants were being closed. Markets move, violently,” Dimon told the podcast audience, recounting the searing early lesson that shaped his vigilant approach to risk that would last for decades. Read more: https://lnkd.in/e247yagJ

It was a Sunday afternoon and Jamie Dimon was hosting a hundred potential candidates in his New York City flat when he was called into a meeting with Citigroup’s Sandy Weill and John Reed. The duo asked him to drive to the office, where they outlined structural changes to the team and ultimately asked Dimon to resign. Reflecting on the day in 1998 during a podcast appearance aired yesterday, Dimon remembered the conversation at first “didn’t make sense to me.” Speaking to Acquired, the JPMorgan Chase CEO explained: “They said they wanted to make a few changes [and] had three of them: ‘One, we want to make this person in charge of that.’ I said OK, well that didn’t make sense to me. The second one, they wanted to put someone in charge of the global investment bank which I was running, I thought it was another stupid decision. Read more here: https://lnkd.in/ePsVcwPV

Society has made a big mistake: not celebrating builders enough. That's according to Daniel Lubetzky, known for being the founder of KIND and the newest permanent judge on Shark Tank ABC. While he's made billions in entrepreneurship, he says a stigma remains that success can only be found via a four-year degree, but in reality, there are many opportunities—especially in the skilled trades world—for high-paying jobs (that are also safer from AI replacement). “For those people that have great ideas or great opportunities and don’t want to go to college, I don’t think college is an end all, be all or required thing,” he told me. Read more from part of our conversation in my latest Fortune piece: https://lnkd.in/e3dZ8iqb

In 1998, Jamie Dimon was a rising star on Wall Street, widely expected to assume the CEO mantle at Citigroup after helping build the financial conglomerate alongside his mentor Sandy Weill. That path abruptly collapsed when Dimon was unceremoniously fired, as Dimon recalled in a recent podcast appearance. Speaking to Acquired, the JPMorgan Chase CEO said the shock was not just professional but deeply personal; Dimon recalls fielding nervous questions from his children about the family’s future as about 50 colleagues gathered at his apartment for “a wake” that night. Dimon said he told his guests that he was doing alright, it was his “net worth, not his self worth” that had been shaken. Read more: https://lnkd.in/eU8ie5Zu

How do you convince Bill Murray to do a Yahoo ad campaign? Just call him up on his 1-800 number. Yahoo CEO Jim Lanzone shares the surprising story on #LeadershipNext, from cold-calling Bill to millions tuning in live during their Super Bowl ad. “He loved the idea of working with an underdog. He really took us under his wing.” 🎥 Watch the full episode: https://lnkd.in/gcN44CPk #Yahoo #BillMurray #Marketing #SuperBowl

Something’s in the air in recent weeks—female CEOs are leaving their jobs left and right. The latest major CEO to do so, after Hershey’s Michele Buck and X’s Linda Yaccarino, is Debra Crew, the leader of U.K. alcohol business Diageo. Crew took over the spirits company, part of Britain’s FTSE 100, in 2023. She was one of fewer than 10 female CEOs among FTSE 100 companies and No. 96 on Fortune’s Most Powerful Women list this year. But Diageo, the maker of Johnnie Walker and Guinness, has struggled mightily during her tenure. Its shares are down 43% since she took the helm. Some of that fall was outside her control; it’s a “difficult time to be a spirits CEO” a Jefferies analyst wrote, per Bloomberg. During her tenure, Crew mainly continued a strategy her predecessor Ivan Menezes set—encouraging customers to buy more expensive products. In a tough market for consumer spending—plus tariffs, changing drinking habits among young people, and a massive slowdown after the at-home drinking highs of the pandemic—that was a risk. Read more: https://lnkd.in/dq4xnpeU

🎧 Introducing The Crypto Playbook, a new vodcast from Fortune Crypto. In each episode, hosts Jeff John Roberts and Leo Schwartz join top voices in the industry to unpack emerging crypto trends and the future of digital finance. Jack Mallers, the renowned "Bitcoin maxi," joins us in episode one to explore how #Bitcoin evolved from a fringe experiment into a $2 trillion asset, and why world leaders like Donald Trump may need it more than they realize. “Bitcoin wasn’t waiting for any government to adopt it—and it didn’t need any government to be successful. In fact, governments are going to find themselves needing Bitcoin.” Watch the full episode → https://lnkd.in/gpwTsPKu

We just launched Fortune's new crypto vodcast, Crypto Playbook, hosted by the brilliant Jeff John Roberts and Leo Schwartz. In Episode 1, Bitcoin Then and Now, we sit down with Jack Mallers, CEO of Strike, to unpack the origin story of Bitcoin, what’s changed since, and where crypto is headed next. From anonymous founders(AKA who is #Satoshi) and headline-grabbing scandals to shifting regulations and cultural flash points, Crypto Playbook breaks it all down. 🎧 Listen now: https://lnkd.in/gFKAYSh7

"Throughout history there have been periods where the U.S. system—I’ll define it as this alignment of institutions, law, culture, and the innovation cycle—to propel capital market returns and to protect shareholders has been continuously tested. "Over time it evolves and hardens and becomes stronger." Always a pleasure to speak to Jacob Manoukian and catch up with the team at J.P. Morgan Private Bank - some particularly relevant insights in this Fortune piece given the news cycle we're seeing this week. Have a read: https://lnkd.in/e9y_nUDp

It feels like just yesterday that “quiet quitting” was plaguing workplaces. But with summer firmly here, it’s “quiet holidays” or “quiet vacationing” that bosses need to be on the lookout for. 🤫 Like quiet quitting—where employees mentally check out of their jobs, instead of taking the financial risk that comes with actually quitting—those who are “quiet vacationing” are similarly tricking bosses into thinking they’re working. But instead of wiggling their mouse every now and then so that they appear to be active while secretly binge watching TV these workers are taking the trend one step further: They could be scanning through Slack or responding to the odd email from a beach in an entirely different country, right under your nose this summer. 🏖️ 💻 With up to 4 in 10 millennials taking time off behind their bosses' backs, Dr. Kyle Elliott, tells me how to spot if your worker is one of them. Find out in my latest for Fortune 👇🏼 https://lnkd.in/e2gK3VRc #summerholidays #millennials #vacation Linkedin News