Good morning. I’ve spent the week talking to business leaders and policymakers who’ve gathered in New York for Climate Week, the UN General Assembly and assorted events on the sidelines, including our own. The mood is generally somber, with growing concern about America’s commitment to free speech, science, the rule of law and remaining a hub for global talent. A few themes have emerged in terms of how CEOs are shifting their strategies.
Seeking comfort and influence in numbers. Instead, U.S. leaders seem to be increasingly turning to industry groups, such as the U.S. Chamber of Commerce, and off-the-record gatherings for shared insights and strategies. Leaders want to speak up but feel that doing so as a CEO may make their company a target. Overseas trips and investments are being done with less fanfare, and there’s a desire to connect across industries on shared challenges.
Staying out of politics. While many CEOs have prioritized rubbing elbows with this Administration, I’ve talked to three this week who say they are taking fewer trips to D.C. right now. “I don’t see the point,” one told me at dinner. “Data is not driving decision-making in this Administration.” Then again, there’s plenty of evidence that getting close to the President can pay off, the most recent example being yesterday’s executive order transferring 50% ownership of TikTok’s U.S. operations to investors with close ties to Trump.
