Fortune

NBA legend Michael Jordan is a “huge fan” of new Nike CEO Elliott Hill. https://lnkd.in/g5J7bVEW From intern to chief executive, Hill has come a long way since he started his career at Nike in 1988. His 30-plus-year journey at Nike has given him unique insights into the company’s DNA, and now, four years after his retirement, Hill is back as president and chief executive. “His passion for the company, his experience, and his incredible leadership speak for themselves,” Jordan said. In an exclusive interview with Fortune, Hill shares his vision for the iconic sportswear brand’s future. Read the full story: https://lnkd.in/g5J7bVEW

Meta has agreed to pay $25 million to settle a lawsuit filed by President Donald Trump against the company after it suspended his accounts following the Jan. 6, 2021, attack on the Capitol. https://lnkd.in/gMSMBdUG It’s the latest instance of a large corporation settling litigation with the president, who has threatened retribution on his critics and rivals, and comes as Meta and its CEO, Mark Zuckerberg, have joined other large technology companies in trying to ingratiate themselves with the new Trump administration. Two of the people familiar with the matter said terms of the agreement include $22 million going to the nonprofit that will become Trump’s future presidential library. The balance will go to legal fees and other litigants, they said. Read more: https://lnkd.in/gMSMBdUG

President Donald Trump began his White House briefing Thursday with a moment of silence and a prayer for victims of Wednesday’s crash at Reagan National Airport. https://lnkd.in/drvWkEEp But his remarks quickly became a diatribe against diversity hiring and his allegation — so far without evidence — that lowered standards were to blame for the crash. Trump on Thursday variously pointed the finger at the helicopter’s pilot, air traffic control, his predecessor, Joe Biden, and other Democrats including former Transportation Secretary Pete Buttigieg, whom he labeled a “disaster.” Buttigieg responded by calling Trump “despicable.” Read more here: https://lnkd.in/drvWkEEp

On Jan. 28, General Motors reported an almost $3 billion loss for the final quarter of 2024, dragged down by a massive cost to restructure its flagging China business. For the latest Fortune issue, I tackle GM's struggles in the world's largest car market. The U.S. automaker has been in China for almost a century; the Chinese love for Buick kept the brand alive in 2008. As recently as 2020, GM sold more cars in China than the U.S. But the shift to EVs has hurt GM, as it has just about every other foreign automaker. Chinese consumers now buy cars from BYD, Geely, Tesla, and others. Western officials and CEOs blame Chinese subsidies--yet Chinese carmakers are also just much more competitive now, with new innovations that are winning over drivers. GM says it plans to keep competing in China. And it *may* have stemmed the bleeding: after quarters of losses, GM on Tuesday said its China venture made a slight profit--before taking the restructuring charges into effect. With insights from David Whiston, CFA, CPA, CFE; Christopher Beddor; Bill Russo; Philippe Houchois; Daniel Ives; and Eugene Hsiao. https://lnkd.in/gg6q7Pne

Always fun to chat with Tapestry CEO Joanne Crevoiserat

President Donald Trump began his White House briefing Thursday with a moment of silence and a prayer for victims of Wednesday’s crash at Reagan National Airport. But his remarks quickly became a diatribe against diversity hiring and his allegation—so far without evidence—that lowered standards were to blame for the crash. Trump variously pointed the finger at the helicopter’s pilot, air traffic control, his predecessor, Joe Biden, and other Democrats including former Transportation Secretary Pete Buttigieg, whom he labeled a “disaster.” The cause of the crash is still unknown. Authorities are investigating and have not publicly identified the cause or said who might have been responsible for the collision of an American Airlines plane and a U.S. Army helicopter. Reporters challenged Trump’s claims. Here’s how he responded to some of their questions: https://lnkd.in/drvWkEEp

The AI sector went on a massive tear last year, and there are few signs the pace will slow anytime soon. For investors, this presents a dilemma. While plenty of public companies offer exposure to AI—from chip giant Nvidia to the utilities that power massive sets of data—their sky-high share prices pose a risk of buying at the top. But what about AI firms that have yet to go public? That’s where all the action seems to be, as companies like OpenAI attract the world’s top venture capital firms with record-breaking funding rounds—a process that mostly excludes everyday investors. Venture capitalists may have the inside track when it comes to the likes of OpenAI, but the coming months are still poised to offer other intriguing new AI investments. Not only are more AI startups ready for the big time, but after a spell when uncertain economic conditions forced firms to stay private, a new era of public offerings is underway. Read the latest issue of Fortune Magazine: https://lnkd.in/e43T846X

Everyone from Donald Trump to “Hawk Tuah girl” has launched their own crypto memecoin, but so far the world’s most famous entrepreneur has yet to get in on the action. https://lnkd.in/ewcMEmar Despite pro-crypto leanings and a massive social media following, Elon Musk has resisted hawking a digital token bearing his name. Musk’s father, however, has other ideas. Errol Musk, who reportedly has a fraught relationship with his son, and his business partner, Nathan Browne, told Fortune they hope to raise between $150 and $200 million from a token project called “Musk It.” Errol Musk explained that he plans to use the proceeds to support a new, for-profit think tank called the Musk Institute that he is founding. Read more here: https://lnkd.in/ewcMEmar

The AI sector went on a massive tear last year, and there are few signs the pace will slow anytime soon. For investors, this presents a dilemma. While plenty of public companies offer exposure to AI—from chip giant Nvidia to the utilities that power massive sets of data—their sky-high share prices pose a risk of buying at the top. But what about AI firms that have yet to go public? That’s where all the action seems to be, as companies like OpenAI attract the world’s top venture capital firms with record-breaking funding rounds—a process that mostly excludes everyday investors. Venture capitalists may have the inside track when it comes to the likes of OpenAI, but the coming months are still poised to offer other intriguing new AI investments. Not only are more AI startups ready for the big time, but after a spell when uncertain economic conditions forced firms to stay private, a new era of public offerings is underway. ... I had a great time helping Leo Schwartz with this story for the latest edition of Fortune Magazine. Thank you to Bradley Tusk, Joseph A. Endoso, and Garrett Hinds for chatting with me and lending their insight. Click below for a preview of the AI IPO market in 2025, and don't forget to check out the rest of the February/March issue!

Last year, one thing became very clear: Most people are unhappy with today’s leaders. In a year that saw more than 60 national elections worldwide, incumbents either lost their seats or lost ground in nearly every race. (Welcome back, President Trump.) Trust in our institutions is down across the board. In the latest Edelman Trust Barometer, disturbingly large numbers of people say there’s no one they trust anymore: not the media, corporations, governments, nor NGOs. And they certainly don’t trust CEOs. At Fortune, "rebuilding trust is also foremost on our minds," writes Editor-in-Chief Alyson Shontell. "We know the world is more skeptical than ever of journalists. We also know that the world needs trusted sources of information more than ever. And we hope that every time you read us, you feel we are just that." Read more from the latest issue of Fortune Magazine: https://lnkd.in/exP__37U