Joe Grundfest: "The Biggest Governance Trend for 2024 is the Corporation as a Piñata."

Boardroom Governance with Evan Epstein

Player FM - Internet Radio Done Right

21 subscribers

تمت الإضافة منذ قبل four أعوام

المحتوى المقدم من Pacifica Global, LLC. and Evan Epstein. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة Pacifica Global, LLC. and Evan Epstein أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.

Biscuits & Jam

1
Biscuits & Jam Returns on March 4th for Season 6 with The War & Treaty! 1:42

منذ 7 أيام1:42

التشغيل لاحقا

قوائم

إعجاب

احب

1:42

Join us for the launch of Season 6 of Biscuits & Jam on Tuesday, March 4th, 2025 with The War and Treaty’s Michael and Tanya Trotter. Learn more about your ad choices. Visit podcastchoices.com/adchoices

منذ عام واحد 50:25

MP3•منزل الحلقة

(0:00) Intro.

(2:21) About this podcast's sponsor: The American College of Governance Counsel.

(3:08) Start of interview.

(3:50) On collapse of SVB & other banks. Lessons for board members. *Reference to video from Stanford Rock Center

(12:00) On the state of private markets and unicorns. Downturn and shutdowns in VC-backed startups. *Per Pitchbook: “Approx 3,200 private VC-backed U.S. companies have gone out of business this year. Combined, those companies raised north of $27B.”

(15:32) On the growth of AI. "The pixie dust."

(18:25) On OpenAI's board fiasco and the company's controversial structure.

"The fundamental problem is with the idea that you can achieve what OpenAI wanted to achieve in terms of guardrails. That's the fundamental point. The second problem is the structure. The structure was all wrong. And the third problem was the people. These were the wrong people to be serving on these boards with the wrong structure, or seeking an objective that can't be obtained." *reference to public choice theory, impossibility theorem by Ken Arrow.

*Reference to innovations in corporate governance structures of AI companies (OpenAI, Anthropic, xAI).

(26:07) On geopolitics of AI: China not bound by same guardrails.

(28:56) On the crypto industry and its regulatory challenges. The case of Ripple vs SEC.

(33:11) Fraud in private markets (ie Elizabeth Holmes, SBF, Trevor Milton and other high profile convictions).

(34:18) ESG/DEI backlash and the politicization of corporation governance. "This is situation where less is more."

(38:27) Biggest winner in business in 2023.

(40:32) Biggest loser in business in 2023.

(42:46) Biggest business surprise of 2023.

(45:43) Best and worst corporate governance trend from 2023.

(47:24) The biggest corporate governance trend to watch out for in 2024.

Joseph A. Grundfest is the William A. Franke Professor of Law and Business Emeritus at Stanford Law School and Senior Faculty of the Rock Center for Corporate Governance. He is a former Commissioner of the SEC and co-founded Financial Engines with Professor William F. Sharpe, the 1990 Nobel Prize winner in Economics. He formerly served as a director of KKR and Oracle.

You can follow Evan on social media at:

X: @evanepstein

LinkedIn: https://www.linkedin.com/in/epsteinevan/

Substack: https://evanepstein.substack.com/

To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/

Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

168 حلقات

#MBA #Entrepreneur #Business #Pacifica Global, LLC #Evan Epstein #Silicon Valley #Venture Capital #Corpgov #Corporate Governance #Experts #Directors #Podcasting Education #Self-Improvement #Directorate of Education #Corporate Director #Boardroom #Board #Government

Joe Grundfest: "The Biggest Governance Trend for 2024 is the Corporation as a Piñata."

Boardroom Governance with Evan Epstein

21 subscribers

published منذ عام واحد

MP3•منزل الحلقة

(0:00) Intro.

(2:21) About this podcast's sponsor: The American College of Governance Counsel.

(3:08) Start of interview.

(3:50) On collapse of SVB & other banks. Lessons for board members. *Reference to video from Stanford Rock Center

(15:32) On the growth of AI. "The pixie dust."

(18:25) On OpenAI's board fiasco and the company's controversial structure.

*Reference to innovations in corporate governance structures of AI companies (OpenAI, Anthropic, xAI).

(26:07) On geopolitics of AI: China not bound by same guardrails.

(28:56) On the crypto industry and its regulatory challenges. The case of Ripple vs SEC.

(33:11) Fraud in private markets (ie Elizabeth Holmes, SBF, Trevor Milton and other high profile convictions).

(34:18) ESG/DEI backlash and the politicization of corporation governance. "This is situation where less is more."

(38:27) Biggest winner in business in 2023.

(40:32) Biggest loser in business in 2023.

(42:46) Biggest business surprise of 2023.

(45:43) Best and worst corporate governance trend from 2023.

(47:24) The biggest corporate governance trend to watch out for in 2024.

You can follow Evan on social media at:

X: @evanepstein

LinkedIn: https://www.linkedin.com/in/epsteinevan/

Substack: https://evanepstein.substack.com/

To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/

Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

168 حلقات

كل الحلقات

1
Jorge Titinger: Leadership, Governance, and the Erosion of Trust 1:01:34

منذ 16 hours1:01:34

1:01:34

(0:00) Intro (1:15) About the podcast sponsor: The American College of Governance Counsel (2:02) Start of interview (2:48) Jorge's origin story (6:03) His executive career in Silicon Valley (including computer and semiconductor industries) (9:00) On his board experience (he has served in ~20 boards) (11:32) Distinctions between serving on different types of boards (public/private/non-profits/etc). On non-profits: "the board is really there for what they call the 3 W's: wisdom, work, or wealth." (12:55) On startup governance . (19:24) On the backlash on ESG/DEI and his book Differences that Make a Difference (2019). "I think the companies that embarked on DEI programs for the sake of checking a box or purely for the sake of compliance are the ones that need to change or got in trouble." (28:49) Differences between CEO coaching and board membership . "Most engineers need to get way better at EQ. When you get into leadership, it's a lot more about influence than being right." (31:26) On founder-led companies and governance. (37:00) On the impact of AI on business and boards. *Reference to E162 with Nora Denzel on NACD's BRC on tech in the boardroom. (44:30) On trend of AI companies incorporating as PBCs . (46:55) Books that have greatly influenced his life: Good to great by Jim Collins (2001) Crossing the Chasm , by Geoffrey Moore (1991) The Hard Thing About Hard Things , by Ben Horowitz (2014) Philosophy: Buddhism (48:42) His mentors: parents, Russell Redenbaugh , and his karate instructor. (51:44) Quotes that he thinks of often or lives his life by. (52:37) An unusual habit or an absurd thing that he loves. Sports examples and analogies with business world. (54:38) On the impact of work from home . "Trust has gone from imperative to imperiled" (58:00) The living person he most admires: Reed Hastings . *Reference to Netflix board case study Jorge Titinger is the founder and CEO of Titinger Consulting, a boutique consulting firm focused on strategy development, the cultural aspects of M&A, corporate transformations and leadership coaching. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
David Chun (CEO, Equilar): The Boardroom Diversity Backlash—A Shifting Pendulum 48:10

منذ 8 أيام48:10

48:10

(0:00) Intro (1:38) About the podcast sponsor: The American College of Governance Counsel (2:25) Start of interview. *Reference to prior episode with Dave ( E25 from Dec 2020 ) (3:30) Equilar 's current focus. New: Equilar Research Intelligence Copilot ERIC (7:49) The current status of boardroom diversity . Latest (Q3 2024) Equilar Gender Diversity Index (10:05) On boardroom refreshment (11:25) On digital/technology/AI directors (13:15) Executive (and Director) Compensation trends. (17:36) On the current ESG/DEI backlash ("at the end of the day you have to do what's best for the business") (20:13) On the boom and bust of SPACs ("incentives were misaligned") (23:05) On the governance of private equity and VC backed companies. Reference to VCBA in SF 5/14 and NYC on 10/28 (28:15) AI' s impact on governance and new corporate structures (PBCs) (32:36) On the growing influence—and disruption—of Silicon Valley in Washington, D.C. ("this feels like Uber") (37:27) The evolving dynamics of California’s business landscape ("if it wasn't for the AI boom, I think we'd be in a pretty hurting spot") (41:21) On the current backlash against Delaware and Elon Musk's pay package at Tesla *Reference to Delaware's SB21 (44:43) Looking Forward: the importance of AI in the boardroom ("the genie is out of the bottle") David Chun is the Founder & CEO of Equilar, a leading provider of executive intelligence solutions for board and executive recruitment, compensation, and governance strategies. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Rick Alexander: On the Rise of PBCs in the AI Industry and Firm-Specific vs. Diversified Investor Duties 55:08

منذ 15 يومًا55:08

55:08

(0:00) Intro. (1:33) About the podcast sponsor: The American College of Governance Counsel (2:20) Start of interview. *Reference to prior episode with Rick ( E14 from Aug 2020 ) (3:32) Update on Public Benefit Corporations (PBCs) from prior episode (2020) (6:00) Surge of VC investments in PBCs driven by AI startups. *Reference to E159 with David Berger on Anthropic's structure (9:48) The OpenAI Controversy (conversion from non-profit to PBC) (13:25) On Dual-Class Share Structures in tech companies (17:10) On Danone and BP as examples of shareholder activism from hedge funds. (18:57) On " Stay private vs Go Public " debate. *Reference to E157 with Tom Callahan , CEO of Nasdaq Private Market (27:17) On the current ESG/DEI backlash ("I think it's an anti-shareholder backlash") (30:52) On the current backlash against Delaware as the favored corporate home (35:26) The McRitchie v. Zuckerberg Case (firm-specific vs diversified equity investors' fiduciary duties) (46:54) On the concentration of power by institutional investors *Reference to E118 with John Coates , from Harvard Law School. Reference to Freshfield's report A Legal Framework for Impact (2021) (52:03) Looking Forward: US boards under the EU Directive on Corporate Sustainability Due Diligence . Rick Alexander is the CEO of Shareholder Commons. He is also a leading expert in public benefit corporations. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Jonathan Goodman (Deloitte): Governing Strategy 59:01

منذ 22 يومًا59:01

59:01

(0:00) Intro (1:35) About the podcast sponsor: The American College of Governance Counsel (2:21) Start of interview (3:00) Jonathan's origin story (5:10) His start in journalism (7:05) Founding Monitor Canada with Roger Martin (1987) (9:43) Transitioning to Deloitte Monitor (2013) (12:18) About Deloitte Canada’s Podium Club for Directors that he leads. (13:38) How Trump's tariffs may impact Canada (note: this podcast was recorded on 1/24, before tariffs went into place) (17:57) What is strategy? "I think of strategy as choice" (20:20) The role of the board in strategy. "The best CEOs seek advice from their boards, not a grade" (25:39) The questions board members ask matter. "The question is the asset" "Ask questions and question the answers" (30:40) Rethinking Board Information Approaches *Reference to Netflix board case study (33:30) Embracing Uncertainty and Risk (37:55) Private vs. Public Strategy Dynamics (42:10) The Role of Culture and Talent in Strategy (scope of company founders) (46:55) Key Strategic Priorities for Directors (beyond idiosyncrasies of each company): 1) Geopolitics; 2) Technological Shifts (AI, Cyber, etc); and 3) Talent (Workforce and People). (53:10) Books that have greatly influenced his life: Atlas Shrugged by Ayn Rand (1957) The Final Days by Bob Woodward and Carl Bernstein (1976) On Becoming a Person by Carl Rogers (1961) (55:58) His mentors . (56:41) Quotes that he thinks of often or lives his life by. Jonathan Goodman is a vice Chair and member of the board of Deloitte Canada, where he leads the firm’s CEO and Boardroom programs, including Deloitte Canada’s Podium Club for Directors. He is also Global Chair and former global Managing Partner of Monitor Deloitte. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Jeff Thomas (Nasdaq): The State of Public Markets in 2025 44:29

منذ 29 يومًا44:29

44:29

(0:00) Intro. (1:52) About the podcast sponsor: The American College of Governance Counsel (2:39) Start of interview. *Reference to prior episode with Jeff ( E46 from Oct 2021 ) (3:42) On Nasdaq's IPOs in 2024 (180 IPOs raising $23B). Looking ahead in 2025. (6:23) What to expect facing new Administration. Reference to Nasdaq's IPO Pulse Index . (8:59) The three priorities for boards considering an IPO: strategic quality, risk management, and succession planning (people). (11:14) On the ruling striking down the Nasdaq Diversity Rule (14:27) On the political backlash against ESG and DEI in the US (18:00) On global markets and the new geopolitical landscape. Nasdaq as "the trusted fabric of the financial markets". Reference to article by Nelson Griggs , Nasdaq President. (22:32) On the " stay private vs go public " debate, and arguments for public listings: 1) access to capital, 2) liquidity, 3) creating an acquisition currency, and 4) having the brand and the trust of a public company. (27:00) Private Equity backed companies going public. (29:50) On the influence of AI in public markets and in governance. Boardvantage's AI solutions for directors. (35:30) Outlook for 2025 . (39:55) On direct listings and SPACs (50 SPACs on Nasdaq in 2024) (40:36) On board education . Reference to the 3rd VC-Backed Board Academy (VCBA) on May 14, 2025, at Cooley in SF. Jeff Thomas serves as EVP, Chief Revenue Officer, and Global Head of Listings at Nasdaq. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Nora Denzel: Technology Leadership in the Boardroom 58:12

منذ 5 weeks58:12

58:12

(0:00) Intro. (1:47) About the podcast sponsor: The American College of Governance Counsel (2:34) Start of interview. *Reference to prior episode with Nora ( E74 from Oct 2022 ) (3:42) About the 2024 NACD Blue Ribbon Commission on Technology Leadership in the Boardroom: Driving Trust and Value (7:29) On the evolving role of the board overseeing technology and cybersecurity (10:41) On the surge of AI technology and its underlying infrastructure (13:15) The role of trust in the age of AI (17:22) How to think about ROI in technology from the boardroom (20:12) Board composition and technology expertise (27:19) Recommendations or takeaways from the BRC Report. (31:00) On AI regulation "It's really important to self-regulate" (34:13) Technology strategy and board committee structures (38:38) Tech aptitude in directors : 1) digital outsiders, 2) digital immigrants, 3) digital early adopters and 4) digital natives (41:52) On board education "needs to be more like Call of Duty" "directors should be learn-it-all's, not know-it-all's" (43:25) Best practices for board evaluations "you can only operate at the speed of trust" "the chair sets the tone" (46:42) On " Zero-based agenda setting " (49:14) Priority items for boards in 2025: talent in the boardroom/company, and having "THE meeting to govern Tech/AI" (52:02) On being "courageously optimistic" and how to address AI doomsayers (56:22) Nora's Top 6 Recommendations for Board Members to Become more Familiar with AI Nora Denzel is a Silicon Valley technology executive. She serves as the Lead Independent Director and Chair of the NomGov Committee at AMD. She also serves on the Gen Digital (NASDAQ: GEN), SUSE S.A. and NACD boards. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Joe Grundfest: Reflecting on 2024 and What’s Next for Business and Governance 45:18

منذ 6 weeks45:18

45:18

(0:00) Intro (2:06) About the podcast sponsor: The American College of Governance Counsel (2:53) Start of interview. *Reference to prior episodes with Joe ( E1 from '20 , E35 from '21 , E84 from '23 , E123 from '24 ) (4:53) The future of the SEC with Chairman Paul Atkins (6:30) New approach to crypto by SEC (9:40) On the politicization of corporate governance (10:48) On the future of ESG ("Extremely Subjective Guessing") and DEI ("Decrease Emphasis Immediately") (14:18) On DOGE , and how it plays out (17:13) On the influence of Silicon Valley in the new Trump Administration (21:40) On Delaware’s Corporate Landscape (two canaries in the coalmine: pre-IPO incorporations and re-domestications) (25:01) On the Tornetta v Musk case, and challenging the award of $345 million in attorneys' fees to the plaintiffs (28:54) AI and the malpractice insurance system. "How AI eats the world" (32:52) On OpenAI's structure and PBCs . On "exit tax" from converting from non-profit to for-profit. (36:49) How do corporations relate to (an increasingly polarized) society: big theme for 2025. (38:05) Biggest winner and loser in business in 2024 (40:38) Biggest business surprise in 2024 (42:46) Best and worst corporate governance trend from 2024 (43:05) What’s the biggest corporate governance trend to watch out for in 2025 Joe Grundfest is the William A. Franke Professor of Law and Business Emeritus at Stanford Law School and Senior Faculty at the Rock Center for Corporate Governance. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Ben Joseloff: The Board's Guide to CFIUS and Evolving National Security Reviews 57:35

منذ 8 weeks57:35

57:35

(0:00) Intro (1:43) About the podcast sponsor: The American College of Governance Counsel (2:29) Start of interview (3:11) Ben's origin story (9:39) His start at Cravath in 2010 (10:54) His time at the U.S. Treasury Department and the White House. (15:04) About CFIUS. Reforms from FIRRMA (2018) . Control transactions and minority investments in critical technologies, critical infrastructure, or sensitive personal data. (24:45) Trends in transaction reviews. CFIUS Annual Report to Congress – CY 2023 (30:00) Presidential prohibitions under CFIUS. (32:23) CFIUS and crypto. (34:02) The TikTok case . (36:14) Restrictions on outbound investments in China : AI, semiconductors, and quantum computing. (42:13) De-risking vs de-coupling from China. Geopolitics and the boardroom . (44:40) Industrial policies. (47:21) Advice for corporate directors on national security matters. (49:30) Books that have greatly influenced his life: Wind, Sand and Stars by Antoine de Saint-Exupery (1939) Elements of Style by Strunk and White (1918) (51:46) His mentors . (53:04) Quote that he thinks of often or lives his life by. The " Spirit of Liberty " Speech Judge Learned Hand (1944) (54:34) An unusual habit or absurd thing that he loves. (55:42) The person he most admires. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
David Berger: Ending the One-Size-Fits-All Model of Corporate Governance 1:02:08

منذ 9 weeks1:02:08

1:02:08

(0:00) Intro. (2:14) About the podcast sponsor: The American College of Governance Counsel (3:01) Start of interview. *Reference to prior episode with David ( E24 from Nov 2020 ) (4:22) David's description of the ACGC (7:56) Post-Election Governance Changes (SEC, FTC, etc). ESG and DEI considerations. Federal vs state regulatory matters. (13:06) On crypto and digital assets in the new Trump administration. (14:51) On DOGE led by Elon Musk and Vivek Ramaswamy (18:46) Delaware's challenge as the Favored Corporate Home (26:54) Elon Musk's Rescinded Compensation in Tornetta v Musk, the plaintiff attorneys' fees. (31:04) On the Rome Conference on AI, Ethics, and the Future of Corporate Governance (April 2024). (35:18) Public Benefit Corporations (PBCs) in the AI industry. On Anthropic's LTBT. On corporate purpose. (46:56) ServiceTitan's compounding IPO ratchet (reference to my article about it ). IPO market. (52:06) Biggest winner and loser in business in 2024 (53:54) Biggest business surprise in 2024 (55:10) Best and worst corporate governance trend from 2024 (57:41) Charter competition among states, and Federal vs. State Corporate Governance (1:00:04) What’s the biggest corporate governance trend to watch out for in 2025 David Berger is a partner at Wilson Sonsini and serves as the President of the American College of Governance Counsel. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Richard Blake: 2024 Silicon Valley 150 Corporate Governance Report 1:01:32

منذ 10 weeks1:01:32

1:01:32

(0:00) Intro. (2:09) About the podcast sponsor: The American College of Governance Counsel . (2:56) Start of interview. *Reference to prior episode with Richard ( E126 from Feb 2024 ). (3:46) About his firm's 2024 SV150 Corporate Governance Report . (9:04) On Virtual (Stockholder) Meetings (89% of SV150). (11:23) Board Committee Structures . Audit, Comp, NomGov, and Others. (14:02) On SV150's approach to ESG , impact of new SEC. (18:53) On the evolution of boardroom diversity , impact of CA laws and Nasdaq Diversity Rule. (21:40) Why private ordering will become more important in corporate governance. (22:28) On dual or multi class share structures (-30% of SV150, and of those, 91% have sunset provisions). (25:25) On ServiceTitan's compounding IPO ratchet (reference to my article about it ). "Governance is a spectrum" (31:29) On evolution of shareholder proposals in SV150. *Reference to E15 with Jim McRitchie . (36:30) On shareholder activism (7.4%) in SV150. (41:41) On the clawback policies of SV150 companies (48:27) On the backlash to Delaware incorporations and SV moving out of CA . Reference to WSGR's DE's Status as the Favored Corporate Home . (51:49) Biggest winner in business in 2024 (53:27) Biggest loser in business in 2024 (54:27) Biggest business surprise in 2024 (56:53) Best and worst corporate governance trend from 2024 (58:28) What’s the biggest corporate governance trend to watch out for in 2025 Richard Blake is a partner at Wilson Sonsini and the leader of the firm's public companies’ practice. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Tom Callahan, CEO of NPM: Unlocking Liquidity in Private Markets 1:00:52

منذ 11 weeks1:00:52

1:00:52

(0:00) Intro. (2:05) About the podcast sponsor: The American College of Governance Counsel . (2:52) Start of interview. (3:36) Tom's origin story . (5:37) The start of his career with Merrill Lynch (1991-2008). (7:00) The financial crisis and his transition to the NYSE (2009-2013). (10:53) His time at BlackRock (2013-2022). (15:14) Defining private markets: "VC-backed pre-IPO private companies typically worth $1b ie. unicorns." Comparing public and private markets. Impact of the JOBS Act (2012). (18:47) About the Nasdaq Private Market (NPM) . Why companies do tender offers in private companies. Managing secondary liquidity . (26:31) Distinguishing liquidity for employees, founders, and investors (cap table cleanup). Function of IPO . (32:40) On regulation of private markets ("private markets are under regulated"). Difference between public and private markets: information asymmetry. (41:23) Current private market dynamics (2021-2024). "We're optimistic that 2025 will be a great year" (45:32) On the role of AI : "it has been the story of the public markets and private markets in 2024." (50:26) Books that have greatly influenced his life. How to Win Friends and Influence People , by Dale Carnegie (1936) Never Split the Difference , by Chris Voss (2016) "Tactical empathy" (52:52) His mentors . (54:47) Quote that he thinks of often or lives his life by: "Whether you think you can, or think you can't - you're right," (Henry Ford) (57:05) Cultural differences in venture between NY and Silicon Valley . (58:19) An unusual habit or absurd thing that he loves: he's a volunteer pilot for Dogs for Good . (59:38) The person he most admires. Tom Callahan is the CEO and Manager of the board of managers of Nasdaq Private Market (NPM). You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Andrew Shagrin and David Chekroun: Co-Founders of ICG at ESCP Business School in Paris 1:11:00

منذ 14 weeks1:11:00

1:11:00

(0:00) Intro (3:27) About the podcast sponsor: The American College of Governance Counsel . (4: 14) Start of interview. (4:56) Drew Shagrin 's origin story. (8:12) David Chekroun 's origin story. (14:15) About the Institute of Corporate Governance at ESCP Business School, based in Paris. (19:13) The focus of ICG between students, alumni, execs, directors, investors, state representatives, judiciary, and regulators. (24:57) Corporate purpose under French law: changed in 2019 to explicitly take into consideration E&S issues . (27:53) Comparing ESG trends from France & EU. The G is rooted in each member state, but E&S falls under the EU green deal. (33:50) On board diversity : differences between US, France & EU. Sources: Copé Zimmermann Law (2011), Gender Equality Index (2018): on gender pay gaps, and Rixain Act (2021). (41:32) On State Owned Enterprises (SOEs) and the role of the state in corporate governance. (45:46) On the role of the state in promoting tech industry (startups and scale ups). BPI . (48:55) On employee representation in the boardroom. In France, since 2013 . (54:19) On Entreprise à Mission structures and PBCs, balancing profit with social responsibility (in AI). The Danone case . (58:24) Challenges of corporate governance in France: share value, board composition, and stewardship. AFEP and MEDEF . (50:38) What are the 1-3 books that have greatly influenced your life: David: The World of Yesterday by Stefan Zweig (1942) Lost in Translation: A Life in a New Language by Eva Hoffman (1989) The Anatomy of Corporate Law by Reiner Kraakman (2004) Drew: How Will You Measure Your Life? by Clayton Christensen (2012) (1:03:48) Who were their mentors, and what they learned from them. (1:06:11) Quotes they think of often or live their life by. (1:07:22) An unusual habit or an absurd thing that they love. (1:08:20) The living person they most admire. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Wolfe Tone & Heather Gates (Deloitte): Insights on Private Company Governance 56:38

منذ 18 weeks56:38

56:38

(0:00) Intro (1:12) About the podcast sponsor: The American College of Governance Counsel . (1:59) Start of interview. (2:57) Heather Gates ' "origin story." (5:17) Wolfe Tone 's "origin story." (10:23) On the governance of privately-owned businesses . Distinction with having "outside investors." (15:20) On the nuances of family-owned businesses . *Reference to my podcast series on Succession show. (18:28) On growth of LLC structures . (20:53) On VC-backed company governance. *Note UC Law SF's VCBA . (23:42) On the value of boards and good governance. When is the right time for a more formal governance structure. (27:40) Deloitte Private Company Pulse Survey on Governance (from July 2024). (31:40) On Climate Risk and ESG in private companies. (34:16) On Cybersecurity Risk . (38:20) On the evolving role of independent directors in private companies. (42:28) On the rise of the public benefit corporation (PBC) structure in AI companies (46:08) On the role of the board in developing talent . (48:38) On the future of trust as a core tenant of governance. (50:38) What are the 1-3 books that have greatly influenced your life: Wolfe: The Art of War by Sun Tzu (roughly 5th century BC) Anything by Stephen Covey . When the Game Is Over, It All Goes Back in the Box by John Ortberg (2007) Heather: The Hard Thing about Hard Things by Ben Horowitz (2014) Boundary Boss by Terri Cole (2021) The Untethered Soul by Michael Singer (2007) (51:52) Who were their mentors, and what they learned from them. (53:36) Quotes they think of often or live their life by. (54:13) An unusual habit or an absurd thing that they love. (54:40) The living person they most admire. Wolfe Tone is the leader of Deloitte Private for the US and globally, and Heather Gates is the national Emerging Growth Company (EGC) business leader for Deloitte, overseeing the firm’s EGC, Private Equity, and Deloitte Private Audit & Assurance teams. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Valeria Café: Leading Governance Innovation in Brazil as IBGC CEO 40:04

منذ 19 weeks40:04

40:04

(0:00) Intro. (1:20) About the podcast sponsor: The American College of Governance Counsel . (2:06) Start of interview. (3:20) Valeria's origin story . (6:14) On joining IBGC , its mission and focus: governance training, research, and regulatory work with CVM, B3, Congress, etc. (9:03) On the 25th IBGC Annual Summit . (11:11) On the state of ESG in Brazil . (15:15) On boardroom diversity in Brazil (20% female representation in public companies). (17:40) Geopolitics, and where Brazil stands between the U.S. and China. (20:56) Innovation and AI in Brazil. (24:44) On compliance and anti-corruption measures by boards in Brazil (post Lava Jato ). (29:17) On the future of corporate governance in Brazil and her vision for IBGC . (32:52) The importance of board education and constant learning. On the issue of overboarding (new rule from Novo Mercado). (35:53) Books that have greatly influenced her life: Feliz ano velho. By Marcelo Rubens Paiva (1982) Theory U . By Otto Scharmer (2007) The Moment of Lift . By Melinda Gates (2019) (36:54) Her mentors . Her Dad. Pedro Melo Vicky Bloch . (37:32) Quotes that she thinks of often or lives her life by. (38:00) An unusual habit or absurd thing that he loves. (38:32) The person she most admires. Valeria Cafe is CEO of IBGC, the Brazilian Institute of Corporate Governance. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

1
Barry Lawson Williams: Addressing Board Refreshment—"the Most Pressing Issue in Corporate Governance Today" 54:13

منذ 20 weeks54:13

54:13

(0:00) Intro. (1:26) About the podcast sponsor: The American College of Governance Counsel . (2:13) Start of interview. (3:03) Barry's origin story . (7:00) Barry's board journey. (9:39) On distinctions between serving on public and private company boards: "you have the same fiduciary duties." (11:57) Evolution of boards in the last 30-40 years: "they have evolved for the better, but I don't think they've evolved enough." On board refreshment . On "non-traditional candidates" to boards. (15:52) About his Bay area Black Directors Succession Project (2015-2016) *Reference to the Black Directors' Conference . (18:40) About his Black Corporate Directors Time Capsule Project (2020) (19:51) About his Black Directors Video Archive Project (Current) (23:18) On board committee work . "As a new director, you ought to start in the audit committee." (26:44) On the Black Corporate Board Readiness (BCBR) Program at SCU, and its endowment under his name . (31:34) On the impact in California of SB-826 and AB-979 . "I'm not a quota mandate person... but it worked." "I think we need to emphasize the business case for diversity." (37:20) On the backlash against ESG and DEI . "Two requests for Silicon Valley: to create interactive databases 1) aggregating all diverse board candidates, and 2) Dates/schedule of openings of board seats." *Reference to VC-Backed Board Academy (VCBA) on Oct 29, 2024 at Nasdaq in NYC. (45:54) Books that have greatly influenced his life Cry, the Beloved Country . By Alan Paton (1948) Citizen Creek . By Lalita Tademy (2014) *his wife James . By Percival Everett (2024) (49:12) His mentors . Colin Powell and Vernon Jordan . George Schultz (at Bechtell, "start out with an executive summary, be brief") Franklin Williams (50:15) Quotes that he thinks of often or lives her life by. Nelson Mandela: "I never fail. I either win or learn." Vernon Jordan: "I'm here because I stand on many, many shoulders." Yogi Berra: "When you come to the fork in the road, take it." (50:58) An unusual habit or absurd thing that he loves: "Win the Day List" (52:08) The person he most admires. Barry Lawson Williams is a retired director who has served on the boards of 14 public companies. Since 2012, Barry has dedicated himself to promoting diversity in corporate boardrooms and mentoring Black professionals. Widely regarded as an icon in the Black corporate board community, he has led several impactful board-related projects. You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive ): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License…

مرحبًا بك في مشغل أف ام!

يقوم برنامج مشغل أف أم بمسح الويب للحصول على بودكاست عالية الجودة لتستمتع بها الآن. إنه أفضل تطبيق بودكاست ويعمل على أجهزة اندرويد والأيفون والويب. قم بالتسجيل لمزامنة الاشتراكات عبر الأجهزة.