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Jamie Dimon offers 4 pieces of advice for leaders

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Good morning from Las Vegas. During day two of the Adobe Summit on Wednesday, JPMorgan Chase CEO Jamie Dimon touched on tariffs, the economy, and geopolitics, and he also gave some insight into what he considers effective leadership.

“I have to confess, I’m not used to speaking in front of 12,000 people,” Dimon told the audience of marketers, practitioners, and executives. 

During the fireside chat, Adobe CEO Shantanu Narayen asked Dimon what helped him develop as a leader, to which he responded, “I think there are four quick things.”

His first piece of advice: “Assess everything, honestly, directly, forthrightly. A lot of companies don’t do that.” Companies that don’t follow those guidelines are not honest about their performance, and get complacent, he said. “Don’t try to use numbers to prove what you think,” he said. “Try to use numbers to understand what you are doing.”

Secondly, you need an effective leadership team. “A lot of people who run stuff, they’re like a hot mess,” Dimon said. Always late and not doing their job, he said. “They may be great people, just don’t let them run something because they’ll be a disaster,” he added.

Dimon’s third piece of advice is to have humility. “People know when you care about them,” he said. “They know if you’re real.” And people know when you’re not genuine, he added. You wouldn’t want to work with someone who blames everyone else if something goes wrong, and takes credit when things go right, Dimon explained. Or someone who “doesn’t treat everyone across the company with respect, whether it’s the person cleaning the bathrooms in the office or a CEO,” he said.

His fourth leadership tip: “You’ve gotta have a little bit of grit.” Especially when you’re managing things that are coming at you all day. “You have to say ‘absolutely not,’ or ‘absolutely, take the chance—go for it,’” he said.

Driving innovation

Dimon is at the helm of the nation’s largest bank, which manages $4 trillion in assets and moves over $10 trillion around the world every day. With the bank having about 300,000 employees, Narayen asked him what he thinks about innovation for a company of that scale.

Technology has driven change for mankind, Dimon said. It has influenced everything from agriculture, printing, steel, ceramics, the internet, and “I put AI in the same category,” he said.

Technological innovation should be brought to the table for leadership to discuss, Dimon said. Lori Beer, global chief information officer at JPMorgan Chase, “who runs an empire,” reports to Dimon and the president, he said. When they come to the table, Dimon asks questions like: “What are you doing? What are you building? How are you competing? How are you using new technology? How are you using Adobe?”

The bank has expanded into lifestyle businesses, like Chase Travel. “We have a travel agency to make your life better,” Dimon said. “And unlike some other companies out there in social media, we want to offer you what you want,” and not “just bombard you with ads,” he said.

And Dimon offered another piece of advice: “A business should always look at itself from the point of view of the consumer.”

Sheryl Estrada
sheryl.estrada@fortune.com

This story was originally featured on Fortune.com

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‘We won’t be silent’ — Teachers vow legal challenges after Trump moves to slash Department of Education

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  • President Donald Trump signed an executive order to crack open the Department of Education on Thursday. The American Federation of Teachers and the National Education Association condemned the move, and have promised lawsuits. Earlier this month, the department laid off nearly half of its staff. 

President Donald Trump signed an executive order that would dissolve the U.S. Department of Education (DOE). While the agency cannot be shuttered without congressional approval, Trump signed the order saying that it would “begin eliminating the federal Department of Education once and for all.”

The order states taxpayers spend $60 billion annually on federal school funding marshalled and distributed by the DOE even though the agency “does not educate anyone.” In the order, Trump claimed its closure would help children and families “escape a system that is failing them.” Trump directed Secretary of Education Linda McMahon to turn education authority over to states and local communities while ensuring “uninterrupted delivery of services, programs, and benefits on which Americans rely.” It also directs McMahon to terminate programs promoting “gender ideology,” and withdraw funding from programs and activities that illegally discriminate based on diversity, equity, and inclusion. The order claimed that the DOE maintains a public relations office with 80 staff members at a cost of $10 million a year. 

In a quick rebuke, American Federation of Teachers President Randi Weingarten said the 1.7-million member union would, “see you in court,” in a statement to Fortune.

The DOE is charged with oversight of the country’s $1.6 trillion federal student loan fund, and oversees and sets school policies for early childhood, primary, and secondary schools through financial funding and monitoring. The agency’s remit includes ensuring equal access to education for all students including those from low-income, disabled, and non-native English speaking homes. Established in 1979, the DOE supervises 50 million students in public school systems across the country.

Earlier this month under the direction of Elon Musk’s Department of Government Efficiency, the DOE laid off 2,183 employees, nearly half of its January workforce of more than 4,100.

“Now, Trump is at it again with his latest effort to gut the Department of Education programs that support every student across the nation,” National Education Association President Becky Pringle said in a statement to Fortune

Pringle claimed cuts to the DOE would increase class sizes, cut job training programs, eliminate special education for those with disabilities, axe civil rights protections and increase college tuition prices, putting it “out of reach for middle class families.”

“We won’t be silent as anti-public education politicians try to steal opportunities from our students, our families, and our communities to pay for tax cuts for billionaires,” Pringle said.

Republican lawmakers have long tried to terminate the department since the 1980s, but in recent years that campaign has garnered traction as tensions mounted after federal mandates and policies in response to COVID-19.

“In moving forward with this, Trump is ignoring what parents and educators know is right for our students,” Pringle said.

This story was originally featured on Fortune.com

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‘We won’t be silent’ — Teachers vow legal challenges after Trump moves to slash Department of Education

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By

  • President Donald Trump signed an executive order to crack open the Department of Education on Thursday. The American Federation of Teachers and the National Education Association condemned the move, and have promised lawsuits. Earlier this month, the department laid off nearly half of its staff. 

President Donald Trump signed an executive order that would dissolve the U.S. Department of Education (DOE). While the agency cannot be shuttered without congressional approval, Trump signed the order saying that it would “begin eliminating the federal Department of Education once and for all.”

The order states taxpayers spend $60 billion annually on federal school funding marshalled and distributed by the DOE even though the agency “does not educate anyone.” In the order, Trump claimed its closure would help children and families “escape a system that is failing them.” Trump directed Secretary of Education Linda McMahon to turn education authority over to states and local communities while ensuring “uninterrupted delivery of services, programs, and benefits on which Americans rely.” It also directs McMahon to terminate programs promoting “gender ideology,” and withdraw funding from programs and activities that illegally discriminate based on diversity, equity, and inclusion. The order claimed that the DOE maintains a public relations office with 80 staff members at a cost of $10 million a year. 

In a quick rebuke, American Federation of Teachers President Randi Weingarten said the 1.7-million member union would, “see you in court,” in a statement to Fortune.

The DOE is charged with oversight of the country’s $1.6 trillion federal student loan fund, and oversees and sets school policies for early childhood, primary, and secondary schools through financial funding and monitoring. The agency’s remit includes ensuring equal access to education for all students including those from low-income, disabled, and non-native English speaking homes. Established in 1979, the DOE supervises 50 million students in public school systems across the country.

Earlier this month under the direction of Elon Musk’s Department of Government Efficiency, the DOE laid off 2,183 employees, nearly half of its January workforce of more than 4,100.

“Now, Trump is at it again with his latest effort to gut the Department of Education programs that support every student across the nation,” National Education Association President Becky Pringle said in a statement to Fortune

Pringle claimed cuts to the DOE would increase class sizes, cut job training programs, eliminate special education for those with disabilities, axe civil rights protections and increase college tuition prices, putting it “out of reach for middle class families.”

“We won’t be silent as anti-public education politicians try to steal opportunities from our students, our families, and our communities to pay for tax cuts for billionaires,” Pringle said.

Republican lawmakers have long tried to terminate the department since the 1980s, but in recent years that campaign has garnered traction as tensions mounted after federal mandates and policies in response to COVID-19.

“In moving forward with this, Trump is ignoring what parents and educators know is right for our students,” Pringle said.

This story was originally featured on Fortune.com

Continue Reading

Tech News

‘We won’t be silent’ — Teachers vow legal challenges after Trump moves to slash Department of Education

Published

on

By

  • President Donald Trump signed an executive order to crack open the Department of Education on Thursday. The American Federation of Teachers and the National Education Association condemned the move, and have promised lawsuits. Earlier this month, the department laid off nearly half of its staff. 

President Donald Trump signed an executive order that would dissolve the U.S. Department of Education (DOE). While the agency cannot be shuttered without congressional approval, Trump signed the order saying that it would “begin eliminating the federal Department of Education once and for all.”

The order states taxpayers spend $60 billion annually on federal school funding marshalled and distributed by the DOE even though the agency “does not educate anyone.” In the order, Trump claimed its closure would help children and families “escape a system that is failing them.” Trump directed Secretary of Education Linda McMahon to turn education authority over to states and local communities while ensuring “uninterrupted delivery of services, programs, and benefits on which Americans rely.” It also directs McMahon to terminate programs promoting “gender ideology,” and withdraw funding from programs and activities that illegally discriminate based on diversity, equity, and inclusion. The order claimed that the DOE maintains a public relations office with 80 staff members at a cost of $10 million a year. 

In a quick rebuke, American Federation of Teachers President Randi Weingarten said the 1.7-million member union would, “see you in court,” in a statement to Fortune.

The DOE is charged with oversight of the country’s $1.6 trillion federal student loan fund, and oversees and sets school policies for early childhood, primary, and secondary schools through financial funding and monitoring. The agency’s remit includes ensuring equal access to education for all students including those from low-income, disabled, and non-native English speaking homes. Established in 1979, the DOE supervises 50 million students in public school systems across the country.

Earlier this month under the direction of Elon Musk’s Department of Government Efficiency, the DOE laid off 2,183 employees, nearly half of its January workforce of more than 4,100.

“Now, Trump is at it again with his latest effort to gut the Department of Education programs that support every student across the nation,” National Education Association President Becky Pringle said in a statement to Fortune

Pringle claimed cuts to the DOE would increase class sizes, cut job training programs, eliminate special education for those with disabilities, axe civil rights protections and increase college tuition prices, putting it “out of reach for middle class families.”

“We won’t be silent as anti-public education politicians try to steal opportunities from our students, our families, and our communities to pay for tax cuts for billionaires,” Pringle said.

Republican lawmakers have long tried to terminate the department since the 1980s, but in recent years that campaign has garnered traction as tensions mounted after federal mandates and policies in response to COVID-19.

“In moving forward with this, Trump is ignoring what parents and educators know is right for our students,” Pringle said.

This story was originally featured on Fortune.com

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