
Remaining Nimble In Times Of Upheaval
Reinforce for yourself and your team your core identity. We can't pivot if we don't have a starting point. A basketball player pivots effectively because she keeps one foot planted. She knows her starting point. If your team or your entire organization is threatened with external, arbitrary change, in your next meeting, remind everyone what you all stand for. Publicly articulating both your values and your mission will help you remember the underlying principles that will guide your decisions as you're caught up in the maelstrom.
When Covenant House, a non-profit organization that houses young people experiencing homelessness, was instructed by various government agencies to limit the number of youth in its shelters during the Covid epidemic, the senior leadership could have frozen or panicked. Instead, they reminded themselves of the organization's mission to never turn away a kid in need. Knowing that remaining open is essential to their identity gave them the starting point for their decision-making. Since denying shelter to someone was not an option, the alternative was to turn offices, conference rooms, and other spaces into sleeping quarters. Knowing their mission also helped spur the creativity they needed when addressing how to feed, educate, and address medical needs of their residents.
Remind yourself of the limits within which your organization operates. Although some groups are good at ignoring the rules of the game, most of us don't have that luxury, or that chutzpah. We're not only a nation of laws, but a business community bound by certain rules and regulations. Sometimes, those rules feel like restrictions. But sometimes, legal limits on our behavior make our decisions easier by taking certain actions off the table. When asked to take certain actions, being able to respond with, 'We're simply not allowed to do that,' can shift the conversation.
When the pandemic struck, shuttering restaurants and cafeterias across the country, Dot Foods, Inc., the nation's largest food redistributor, found itself with massive amounts of food stuck in a supply chain that had ground to a halt. Some of their inventory is perishable and can't be sold beyond a particular date. Part of their corporate ethos is to minimize waste and support the communities in which they operate. The combination of knowing their limits and knowing themselves allowed them to pivot quickly and increase their donations to food pantries across the country.
Gather ideas from outside the normal team. Your organization has a lot of talent. How well are you tapping into it? The demands some are faced with these days are not only novel, but they are also shockingly contrarian to the way we have always operated. Your immediate team is practiced at thinking and communicating a certain way. In times of upheaval, we need not only new ideas, but new ways of thinking. You may be well served by bringing different voices into the conversation. That doesn't mean opening up your Executive Committee to the entire firm. It means asking each person on your leadership team to reach out to people they may not normally interact with to understand the perspectives of those on the ground. If your leadership team communicates directly with voices and perspectives from which they are normally insulated, your team's ability to brainstorm new approaches expands dramatically.
Many public-private partnerships exemplify the increased ability to tackle problems better by leveraging a variety of perspectives in the conversation. The Emerging Leaders Program – Bronx – is the classic example of this type of success. ELP-Bx works with six high schools in the South Bronx to expose young scholars to leadership skills and careers and help them see new paths for success in life. The organization is thriving because of the significant involvement of senior leaders in state and local government as well as at firms like JPM Asset Management and Brookfield Properties, among others. John Garibaldi, ELP Bx founder, says, 'Obviously, financial support from corporate sponsors and individual donors is essential to our success. But equally important are the ideas and perspectives that our partners in education, government, and business share in our consultation discussions. We couldn't accomplish all we have if we limited our conversations to people from one discipline, regardless of how smart they are. The plurality of perspectives is essential.'
Stay humble. Learning requires humility. Changing course requires acknowledging mistakes. That's not failure; that's bravery.
Ask yourself two questions:
On a scale of 0-10, how much of a perfectionist am I?
On a scale of 0-10, how hard am I on myself when I make a mistake?
In business decisions, accept that there is no perfect answer. There are a dozen great answers, any one if which will present its own set of challenges but will still work.
As a leader, accept that you will make mistakes. The American writer and philosopher George Saunders once paraphrased Descartes by saying, 'I think, therefore I am wrong.' Accepting that we won't always get it right allows us to remain creative and open to new ideas.
Summary
In short, as we continue to need to adapt in an ever-changing business landscape, we'll be more successful if we remind ourselves of our mission, see our limits as guideposts rather than hurdles, gain insight from a variety of perspectives, and acknowledge that we won't get everything right the first time.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
Apple Expands 18-Year-Old iPhone Glass Deal in Bid to Avoid Trump Tariffs
(Bloomberg) — Apple Inc. (AAPL) Chief Executive Officer Tim Cook is using a familiar strategy to stay in Donald Trump's good graces: expanding existing initiatives to show he supports the president's 'Made in the USA' agenda. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station Standing in the Oval Office on Wednesday between Trump and Vice President JD Vance, Cook announced that Apple will increase its US investment commitment to $600 billion over four years — up from the $500 billion pledged after Trump's second-term victory. A centerpiece of the expansion is a $2.5 billion investment into Corning Inc. (GLW), Apple's longtime glass supplier. For the first time, the cover glass for all iPhones and Apple Watches will be manufactured in the US, at Corning's facility in Kentucky. Though Apple has touted the US roots of iPhone glass before, a portion of that glass was previously made overseas. 'Apple's been an investor in other countries a little bit. I won't say which ones, but a couple. And they're coming home,' Trump said when making the announcement. The $600 billion investment, he said, is 'the biggest there is.' The iPhone maker also discussed increased agreements focused on semiconductor manufacturing, expanding deals with partners like Samsung Electronics Co. ( Texas Instruments Inc. and Broadcom Inc. Apple is branding the effort the American Manufacturing Program, or AMP. The agreements that Apple touted included: Working with GlobalWafers Co. in Texas to produce US wafers — the basis for the chips that go into the iPhone and other devices. Apple also said it was partnering with Applied Materials Inc. (AMAT), the biggest US producer of semiconductor-manufacturing equipment, to make more of that gear in Austin. But in those cases, Apple will be on the sidelines, rather than building the machinery and components itself. Expanding a partnership with Texas Instruments (TXN) to support the manufacturing of chips in Utah and Texas. The facilities will make components that ultimately go into the iPhone and other devices shipped around the world, Apple said. It's also teaming up with Samsung to create new chips in Texas that can boost the power and performance of devices. A deal with GlobalFoundries Inc. to boost US manufacturing of wireless technologies and power-management components in New York state. Investing in an Arizona facility run by Amkor Technology Inc. that tests and packages chips. The location will handle Apple-bound silicon made by partner Taiwan Semiconductor Manufacturing Co. (TSM, at its nearby plants. In all, the announcements provided just enough evidence that Apple was focusing on America — without forcing it to make major changes. Corning has supplied Apple since the first iPhone in 2007, and Cook has long promoted the iPhone's American-made glass. What's new is the modestly increased scale. Apple is pointing to the deals as it seeks relief from looming tariffs. The Trump administration is letting exemptions on smartphone and gadget levies expire and adopting new duties on Indian imports — a potential issue for Apple, which recently shifted US-bound iPhone assembly to India. Cook even seized on Trump's famous love of gold. He presented the president with a large, circular Corning glass plaque engraved with the president's name, mounted in 24-karat gold. The Apple CEO said that the glass came off an assembly line in Kentucky while the gold was produced in Utah. Cook added that a former US Marine who works at Apple designed the plaque. Trump, meanwhile, announced a major enticement: He said that companies investing in the US — even if the projects are in early stages — would get a break from some tariffs. 'The good news for companies like Apple is, if you're building in the United States, or have committed to build,' Trump said, 'there will be no charge.' Apple's pledges are expected to meet that criteria, even if it isn't actually making iPhones and other popular devices in the US. Assembly of the smartphone — a costly and complex process of combining components, testing and boxing devices — will continue in China and, increasingly, India. That part will stay 'elsewhere for a while,' Cook said. But 'there's a lot of content in there from the United States, and we're very proud of it.' Trump acknowledged that assembly was 'set up in other places, and it's been there for a long time,' but he reiterated his desire to bring that stage of production to the US someday. 'This is a significant step toward the ultimate goal of ensuring that iPhones sold in the United States of America also are made in America,' he said. Trump's existing tariffs have already taken a toll on Apple. It said last week that the levies will cost the company about $1.1 billion in the September quarter. But Apple is looking to avoid incurring further costs, especially as it prepares to unveil the iPhone 17 line next month. Cook is also likely seeking support from Trump on other fronts: The US Justice Department is suing the company for alleged antitrust violations, and the agency is threatening its $20 billion search deal with Alphabet Inc.'s Google (GOOG) in a separate case. The US government also could potentially help Apple cope with tough new restrictions on the App Store in the EU. This isn't the first time Apple has used US manufacturing announcements to promote Trump's priorities. In 2019, the company promised to assemble a new Mac Pro in Texas. It wasn't a big change: Apple had produced the previous model in the state since 2013. But that gesture helped land the company a reprieve from tariffs. Earlier this year, after Trump's return to office, Cook unveiled the initial $500 billion commitment — an acceleration of the investments Apple had begun under President Joe Biden. At that time, Apple announced it would start making AI servers in Houston. Cook said Wednesday that the first test units rolled off that factory's assembly line last month. 'We're going to keep building technologies at the heart of our products right here in America,' he said. Russia's Secret War and the Plot to Kill a German CEO The Pizza Oven Startup With a Plan to Own Every Piece of the Pie AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Government Steps Up Campaign Against Business School Diversity A High-Rise Push Is Helping Mumbai Squeeze in Pools, Gyms and Greenery ©2025 Bloomberg L.P. Sign up for Yahoo Finance's Week in Tech By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 minutes ago
- Yahoo
Billionaire David Tepper Is Selling Nvidia, AMD, and TSMC, and Loading Up On Shares of This Trillion-Dollar Artificial Intelligence (AI) Stock Instead
Key Points Quarterly-filed Form 13Fs provide a way for investors to track which stocks Wall Street's leading asset managers are buying and selling. Appaloosa's David Tepper has been a persistent seller of AI stocks over the last year, including hardware giants Nvidia and Advanced Micro Devices, as well as Taiwan Semiconductor. Only 11 public companies have ever reached the trillion-dollar valuation plateau -- and one of these companies has been on Tepper's buy list. These 10 stocks could mint the next wave of millionaires › For some investors, earnings season is the pinnacle of each quarter. This six-week period, where many of Wall Street's most influential businesses lift the hood on their operating results, provides investors with invaluable information. However, an equally strong argument can be made that the quarterly filing of Form 13Fs with the Securities and Exchange Commission is just as important as earnings season. A 13F offers investors a way to see which stocks Wall Street's top money managers have been buying and selling. In other words, these filings clue investors in to the stocks, industries, sectors, and trends that have piqued the interest of highly successful asset managers. Arguably no trend has been hotter than the rise of artificial intelligence (AI). Empowering software and systems with the tools to make split-second decisions without human intervention is a multitrillion-dollar global opportunity, which explains why AI stocks have soared. But not all of Wall Street's prominent billionaire fund managers are along for the ride. Based on 13Fs filed in mid-May that detail first-quarter trading activity, Appaloosa's billionaire chief David Tepper has been a big-time seller of three red-hot AI stocks -- Nvidia (NASDAQ: NVDA), Advanced Micro Devices (NASDAQ: AMD), and Taiwan Semiconductor Manufacturing (NYSE: TSM), or TSMC -- over the previous year. Curiously, though, Tepper has been loading up on another AI stock that somewhat recently joined the exclusive trillion-dollar club. Billionaire David Tepper has been a persistent seller of Nvidia, AMD, and TSMC stock Tepper and his team tend to be fairly active and are regularly building up or reducing their existing stakes. Rather than looking at changes from the prior three-month period, more wisdom can often be gained by examining year-over-year changes to Appaloosa's more than $8 billion dollar investment portfolio. Between April 1, 2024, and March 31, 2025, Tepper oversaw a significant reduction in, or the complete exit from, three of the AI revolution's top companies: Nvidia: 4,120,000 shares sold (93% reduction), which has been adjusted to account for Nvidia's 10-for-1 stock split in June 2024. Taiwan Semiconductor: 230,000 shares sold (46% reduction). Advanced Micro Devices: 1,630,000 shares sold (completely exited position). All three of these companies have been successful in their own right within the AI arena. Nvidia's graphics processing units (GPUs) account for the bulk of GPUs deployed in AI-accelerated data centers, while AMD's Instinct series chips are slowly adding market share. Meanwhile, TSMC is the world's leading chip-fabrication company, with its chip-on-wafer-on-substrate capacity rapidly expanding to satiate growing enterprise demand for AI infrastructure. If everything is going to well for Nvidia, AMD, and TSMC, the question that has to be asked is: Why did billionaire David Tepper sell over a 12-month period? Simple profit-taking is one of the more logical answers. All three companies have seen their shares appreciate noticeably over the trailing-three-year period, and Tepper has demonstrated he's not shy about locking in gains. What's worrisome is there may be more to this persistent selling activity than just a desire to take some chips off the table. For example, every next-big-thing technology since (and including) the proliferation of the internet in the mid-1990s has navigated its way through a bubble that eventually burst. In plainer English, investors continually overestimate the adoption rates and/or utility of game-changing technological advances. It's going to take time for AI to mature as a technology and for businesses to figure out how to optimize their solutions and generate a positive return on their investments. This suggests another bubble may be brewing. Whereas Taiwan Semiconductor is a diversified company that generates a meaningful percentage of its net sales from fabricating chips for smartphones, Internet of Things, and automotive, Nvidia and AMD are increasingly reliant on enterprise GPU orders. If an AI bubble were to form and burst, these two companies would be hit hard. Valuation may have also come into play for Appaloosa's billionaire chief. Historically, industry-leading businesses thriving on the heels of a next-big-thing trend have topped out at 30 to 40 times trailing-12-month sales. Nvidia's price-to-sales (P/S) ratio is 31, as of this writing. With the stock market also historically pricey, Tepper may view Nvidia, AMD, and TSMC as being on shakier ground than their respective share prices would indicate. This trillion-dollar AI stock is bucking the trend in Tepper's fund Whereas billionaire David Tepper has been an undeniable seller of artificial intelligence stocks over the trailing year, based on 13F filings, there's one trillion-dollar AI stock that's managed to buck the trend. During the March-ended quarter, Appaloosa gobbled up 130,000 shares of Broadcom (NASDAQ: AVGO), which is one of only 11 public companies around the world to have ever reached a $1 trillion valuation. While Nvidia and AMD have locked down the lion's share of GPU market share in AI-accelerated data centers, Broadcom is the preferred choice for its host of AI networking solutions. Its products are capable of connecting tens of thousands of AI-GPUs in order to maximize compute capacity, as well as minimize tail latency. Put simply, Broadcom's hardware reduces lag, which facilitates the split-second decisions that need to be made by AI-empowered software and systems. Broadcom is also making a name for itself thanks to its custom AI chips. During the company's fourth-quarter conference call in late 2024, CEO Hock Tan opined that a few of its hyperscaler clients could spend anywhere from $60 billion to $90 billion in fiscal 2027 (its fiscal year ends in late October or early November). As long as AI remains a hot trend, Broadcom is expected to be one of the more unstoppable stocks. But what Appaloosa's Tepper might appreciate most about Broadcom is that it's much more than just an AI-driven company. While AI is, unquestionably, Broadcom's most meaningful growth driver at the moment, it has plenty of other channels that generate sales and positive operating cash flow. Before AI became the hottest thing on Wall Street, Broadcom was known for its lead role in developing wireless chips and accessories used in next-generation smartphones. Even though smartphones aren't the growth story they were a decade ago, the ongoing expansion of 5G service globally provides a modest growth opportunity for Broadcom. In addition, it offers an assortment of solutions for industrial product lines and automobiles, as well as owns an enterprise cybersecurity solutions division. The point being that if the AI bubble were to burst, Broadcom would, in all likelihood, be in better shape to navigate the coming storm than hardware giants Nvidia and AMD. Lastly, Tepper may have found Broadcom's valuation more palatable than the likes of Nvidia. As of this writing on Aug. 5, Broadcom is valued at 35 times forward-year earnings, but appears to be sporting a sustainable annual growth rate of 20% or greater. Don't miss this second chance at a potentially lucrative opportunity Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $462,306!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,522!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $619,036!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of August 4, 2025 Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy. Billionaire David Tepper Is Selling Nvidia, AMD, and TSMC, and Loading Up On Shares of This Trillion-Dollar Artificial Intelligence (AI) Stock Instead was originally published by The Motley Fool


Android Authority
21 minutes ago
- Android Authority
Apple just gifted Trump a 24K gold Gorilla Glass statue, and a $100 billion peace offering
NBC News TL;DR Apple CEO Tim Cook has gifted US President Donald Trump a circular Gorilla Glass statue with a gold Apple logo and a 24K gold base. The commemorative statue was presented to Trump ahead of Cook's $100 billion US investment announcement at the White House. The peace offering comes after the President criticized and pressured Apple to bring more of its supply chain stateside. In a heartwarming display of capitalism, Apple has gifted US President Donald Trump what may be the world's most expensive piece of Corning Gorilla Glass, or a very luxurious paperweight, depending on how you see it. The statue features a Gorilla Glass disc with a gold Apple logo etched into it. The disc itself sits on a 24-karat pure gold base. Cook unveiled the gift during a White House press conference to celebrate Apple's pledge to invest another $100 billion into US manufacturing. The words 'Apple American Manufacturing Program' and 'Made in USA' are etched in the Gorilla Glass display alongside the President's full name printed boldly on top. Tim Cook's signature features at the bottom of the glass circle that sits on a gold base made in Utah. Meanwhile, the Gorilla Glass was reportedly designed by a former US Marine Corps corporal now employed at Apple. Reuters In addition to gifting this unique sculpture to Trump, the Apple CEO announced the company's commitment to bringing more of its supply chain stateside, including sourcing chips from Samsung's US facility. This isn't the first time Apple has courted favor with President Trump. Back in his first term, Trump praised Cook for being 'a great executive.' Cook also reportedly calls Trump directly, with publications like The New York Times deeming him 'The Trump Whisperer.' It looks like Cook has figured out how to deal with the US President without tweeting about it, like some other tech CEOs. Follow