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Uber Names Its First Chief Operating Officer Since 2019 Amid Leadership Shakeup

Andrew Macdonald has been with Uber for 13 years. Sam Barnes/Sportsfile via Getty Images

Andrew MacDonald, a longtime executive at Uber, has been named the company’s president and its first chief operating officer in six years, the company announced yesterday (June 2). He is the first to hold the COO title since Barney Harford stepped down in 2019. Macdonald will report directly to CEO Dara Khosrowshahi and oversee Uber’s global mobility, delivery, and autonomous divisions, according to public filings.

“I’m as energized by Uber today as I was when I started more than a decade ago, and I’m excited for what the next decade holds,” said Macdonald in a statement.

Most recently, Macdonald served as Uber’s senior vice president of mobility and business operations. He joined the company in 2012 as its first general manager in Toronto. As part of his promotion, he will relocate from Toronto to New York City and receive $5 million in stock, subject to time- and performance-based conditions.

“This is a natural next step in our evolution as a company, as we drive growth by increasing engagement across our entire platform,” said Khosrowshahi, who has led Uber since 2017. The promotion does not affect Khosrowshahi’s role as CEO; in an internal memo, he reportedly reassured staff that he has “no plans to go anywhere anytime soon—other than fly around the globe trying to keep up with our ever-growing footprint.”

Dreams of becoming a “super app”

Macdonald’s new role comes amid Uber’s transition from a ride-hailing company to one focused on food delivery, travel and autonomous taxis. The company hopes to eventually build a “super app,” said Khosrowshahi last year.

Uber has shown strong enthusiasm for self-driving technology, expanding into the autonomous space through partnerships with companies like Waymo and Wayve. The company is also on solid financial footing: last month, it reported a 14 percent year-over-year increase in quarterly revenue to $11.5 billion, while quarterly profit surged to $1.7 billion, compared to a net loss of $654 million during the same period last year.

Macdonald isn’t the only executive rising through the ranks as Uber expands its global footprint. Pradeep Parameswaran, currently general manager for Asia Pacific, will take on the role of global head of mobility. Susan Anderson, who previously led Uber’s grocery and retail business, will become global head of delivery. Meanwhile, Sarfraz Maredia, head of delivery for the Americas, has been promoted to global head of autonomous mobility and delivery.

As part of the executive shake-up, Pierre-Dimitri Gore-Coty—a veteran of more than 12 years at Uber—will step down from his role as senior vice president of delivery. “It’s hard to imagine Uber without Pierre, because there hasn’t been much Uber without Pierre,” said Khosrowshahi in a statement. He did not provide details on what Gore-Coty plans to do next.



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The Silent Ceiling: How Reputation Shapes Power for Diverse Leaders

For underrepresented leaders, reputation isn’t just perception—it’s strategy. Knowing how to be seen, and by whom, is part of the climb. Unsplash+

Reputations are complex, easy to lose and expensive to acquire. While a negative reputation is damaging for anyone, having no reputation is particularly bad for diverse leaders from minority backgrounds, who are underrepresented across almost every industry in business. As such, leaders from diverse backgrounds and identities must learn reputation management skills to scale systemic hurdles. Diversity, equity and inclusion (DEI) programs have always intended to address systemic barriers and obstacles for people of diverse backgrounds. As companies renege on their DEI commitments, the pressure on diverse leaders to personally manage their barrier-hopping has increased exponentially. We’re back to hacking the system rather than breaking it down wholesale. While hacking has a tech bro/girl boss neoliberal tinge, some reputation hacks are worth learning.

What Happens When Leaders Forget About Reputation 

The reputations of a CEO and a company are inextricably linked. This has been made acutely evident this year as Tesla sales have tanked in direct proportion to Elon Musk’s flailing reputation in Europe. Leaders who understand that their words and behavior are tied to the value of their business are less likely to commit reputational harakiri.

A smaller-scale reputational fail happened in January 2024 with the CEO of Kyte Baby, an alternative baby clothes company that espouses strong parent-friendly values. When an employee requested the right to remote work when she and her partner adopted a baby who was born at 22 weeks and needed intensive care, she was fired. After the employee’s sister made a TikTok video explaining what had happened, the Kyte Baby CEO responded with her own video, saying she apologized to the employee for how her parental leave was handled and that the company would examine its policies. She came under fire for this: criticisms included that it seemed insincere, scripted and not enough. The CEO returned the next day with an unscripted video apologizing more, saying she regretted her ‘terrible decision’ not to let the employee work remotely. The story made media headlines, including on CNN. No CEO wants to make CNN for the wrong reasons.

What Can Diverse Leaders Do?

Mary Ann Sieghart says in her 2021 book The Authority Gap that you can’t argue with a stellar record of success. Two things are inherent in ‘stellar record’—one is the idea of excellence, a concept that has plagued people not of the hegemonic workplace leadership norm. They have to be better than, work harder than and fail less than the default man. However, another aspect is the idea of a record. The most crucial lesson diverse leaders can take away is that success at work is not only about doing a great job; it also involves talking about it. Diverse leaders need to become good advocates for themselves.

“Never assume your manager can see inside your head,” writes Porter Braswell, MD of True Search and CEO and founder of several start-ups, in his book Let Them See You. “Make sure they understand the value of your work by mapping each project or initiative to a specific and meaningful business outcome,” he advises. Porter notes that leaders from diverse backgrounds should not shy away from overcommunicating. “A critical mistake that many young professionals make, especially those new to an organization, is waiting until their annual review to highlight their accomplishments.”

Stories, Behaviors, Networks

Frank Wolf is the co-founder of Staffbase, a German comms tech unicorn. In his recent book The Narrative Age, Wolf coined the idea of a narrative moat that companies (and leaders) need to build as part of their reputation. This moat will protect them when crisis hits (Musk likely has a better narrative moat in the U.S. than he does in Europe).

Reputation consists of stories, behaviors and networks: the words leaders use, the stories they tell, how they behave and the networks that reflect and highlight both. Reputations collapse when words and behaviors don’t match and collapse to mighty effect when this happens in public (as with both Tesla and Kyte Baby). Social media has a network effect that broadcasts disastrous behavior worldwide in seconds. However, when stories and behaviors match, and diverse leaders have mastered the network effect—getting comfortable on the appropriate social media for their audiences—they can build a stellar reputation.

Finding Allies

Not everyone knows what their stories are, or which social media they want to use. There is a potential ally at work whom leaders from diverse backgrounds can befriend to help them. The head of communications is responsible for both company and leadership reputation (as the two are intertwined). They can assist with reputation building, by working on stories with the leader that are both personal but support the business and finding media opportunities, keynotes, panels and podcasts. If a company has no communicators, leaders can try marketing or hire their own communications team member or coach.

However, those who feel comfortable with the stories they want to tell should go out and tell them. LinkedIn is a brilliant platform for leaders to find their voice, tell their stories, hone their perspective and shine a light on their expertise. If the leader’s audience is young, get comfortable with video and get on TikTok. If their preference is writing, Substack is an excellent medium for long-form articles and building an audience. 

Representation, Role Models and Building the Ladder

Representation matters, and it’s important that emerging leaders of diverse identities can see leaders ahead of them who are succeeding, both in their roles and with great reputations. There are many, but two in particular who have built excellent reputations by excelling at their jobs and employing narratives, behavior and networks are Sindhu Gangadharan, MD of SAP India and Yamini Rangan of HubSpot. Both use social media adeptly, have large followings and are authentic storytellers. By showing up consistently, as themselves, telling stories that match business strategy but also shine a light on who they are as leaders, they have both built strong narrative moats for themselves. By being great builders of companies and reputations, leaders also build something else: a ladder for emerging leaders to climb up behind them. There is always space for more great leadership.

Charlotte Otter is an executive communications expert, speaker, advisor and author of We Need New Leaders: Mastering Reputation Management to Reshape the C-Suite, out on June 3, 2025.



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The 11 Key Executives Running Tesla Behind Elon Musk’s Spotlight

Omead Afshar, vice president of North American and European operations

Afshar joined Tesla in 2017 as a project manager in the CEO’s office after working in the medical device industry. He later became project director and, in 2020, was promoted to senior director of Tesla’s Austin Gigafactory—a role he cheekily sums up on LinkedIn with a cowboy emoji.

In 2022, Afshar stepped back from day-to-day Tesla operations following an internal investigation into Project 42, a glass-walled structure allegedly intended as a residence for Musk—an allegation the CEO has denied. During this period, Afshar became more involved in other Musk ventures, including SpaceX and X.

His Tesla profile has since rebounded, now overseeing the company’s operations in North America and Europe. Known for his close rapport with Musk, he’s reportedly earned the nickname “the Musk whisperer.”

Lars Moravy, vice president of vehicle engineering

Moravy has served as Tesla’s vice president of vehicle engineering for the past six years, leading a team of over 2,000 engineers responsible for hardware design, development, testing, automation and manufacturing. He has worked on every major Tesla model, including the Model S, Model X, Model 3, Model Y, Cybertruck and the upcoming Robotaxi.

Moravy joined Tesla more than 15 years ago, contributing to vehicle frame development. Prior to that, he spent eight years at Honda R&D. On a recent episode of the Ride the Lightning podcast, he said he made the leap to Tesla because it combined his passion for automobiles and environmental impact.

Brandon Ehrhart, general counsel and corporate secretary

Tesla appointed Ehrhart as general counsel and corporate secretary in 2023. He previously spent two decades in the telecommunications industry, most notably at DISH Network, where he served as general counsel for DISH Wireless. His legal background also includes roles at EchoStar Corporation and as an associate at DLA Piper.

At Tesla, Ehrhart leads a legal team that, according to a past LinkedIn post, aims to manage “all aspects of litigation and trial work, including briefings, hearings, discovery, depositions and trials, completely in-house.”

Franz von Holzhausen, senior design executive

Von Holzhausen brings decades of experience in automotive design to Tesla. Before joining the company, he worked on high-profile projects such as the Volkswagen New Beetle and held design positions at General Motors and Mazda. He became Tesla’s senior design executive in 2008 and has since led design efforts for every major model, including the Model S, Model X, Model 3, Model Y, Cybertruck and the second-generation Roadster.

Ashok Elluswamy, vice president of A.I. software

Elluswamy leads Tesla’s A.I. software division, a key area the company expects to expand. He has headed the team since October 2024 and, according to his LinkedIn, is focused on “anything and everything required to get self-driving 4-wheeled robots driving widely.” His previous work includes developing Tesla’s in-house computer vision system and applying A.I. to tackle complex autonomous driving challenges.

Elluswamy joined Tesla in 2014 and was later praised by Musk as the company’s first official hire for the A.I. and Autopilot team. “Without him and our awesome team, we would just be another car company looking for an autonomy supplier that doesn’t exist,” Musk wrote on X last year.

Michael Snyder, vice president of energy and charging

Snyder began his Tesla career in 2014 as a staff electrical engineer and steadily rose through the ranks of the company’s energy division. He previously served as senior director of megapack production and business before being promoted in 2024 to vice president of energy and charging. In this role, he oversees Tesla’s integrated sustainable energy ecosystem, which includes solar, storage and charging infrastructure.

Before joining Tesla, Snyder worked at engineering and energy companies including HDR, SunPower Corporation and Flack + Kurtz.

Laurie Shelby, vice president of environment, health and safety

Shelby has led Tesla’s environment, health and safety (EHS) operations since 2017, overseeing workplace safety and compliance efforts for more than 100,000 employees across automotive, energy and delivery divisions. One of Tesla’s most senior female executives, she brings decades of experience in industrial safety. Prior to Tesla, she spent 17 years at Alcoa and held key roles at Reynold Metals, Radian Corporation and Dominion Virginia Power.

Karn Budhiraj and Roshan Thomas, vice presidents of supply chain

Tesla’s vast and complex global supply chain is co-managed by two executives: Budhiraj and Thomas. Budhiraj joined Tesla in 2014, bringing prior experience from Apple’s supply chain team and a consulting background at Deloitte. He initially oversaw powertrain and electronics programs before being promoted to vice president of supply chain in 2018. He now manages key areas such as batteries, electronics, construction, manufacturing and distribution.

Thomas, who reports directly to Musk, was appointed vice president in 2020. He is responsible for vehicle and solar sourcing and other critical supply functions. Thomas joined Tesla in 2019 as a purchasing manager for propulsion, thermal and climate systems, following earlier roles in supply operations at Tellabs and Sanmina.



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A New Executive Exit Strategy: The Rise of the Fractional C-Suite

A new kind of exit strategy: More executives are leaving the boardroom behind and stepping into the future of freelance leadership. Unsplash+

According to recent projections, more than one in two U.S. workers could go freelance by 2028, and with 60 percent of freelancers earning more than in their previous full-time role, it’s not difficult to see why. The shift from more traditional career paths to freelancing is so pronounced that estimations suggest the gig economy is growing anywhere between 3 to 15 times faster than the traditional job market, and, by 2028, it’s estimated that the number of U.S. freelancers will reach approximately 90.1 million, indicating a broader shift towards freelancing across various professions. Interestingly, the picture of the modern freelancer isn’t what most imagine. 

While typical freelance roles in graphic design, copywriting and marketing remain common, many in leadership positions and the C-suite are increasingly moving towards freelance careers. This has given rise to a revolutionary new paradigm for leadership—fractional leadership, which allows businesses to bring in executives for a fraction of their time instead of on a traditional full-time basis. The benefits of fractional, flexible leadership are numerous, providing world-class expertise to growing businesses as needs arise. This relieves the burden on overstretched leaders internally, while offering previously overworked executives a significantly improved work-life balance, the flexibility to decide their own workloads, and the opportunity to work for multiple companies simultaneously on a freelance basis.

But why are so many people in leadership roles forgoing traditional career paths in favor of freelance, portfolio-led careers?

Economic Pressures Driving Fractional Leadership

The past year has seen incredible disruption for businesses across the U.S. and globally. Companies have had to contend with tariff uncertainty, the lingering impact of the COVID-19 pandemic, inflationary pressures, skills shortages and unprecedented geopolitical volatility.

These external pressures have given rise to a renewed focus on strong leadership that can steer businesses through market turmoil, with their contribution scaling up and down according to business need and resources. The modern world of work means businesses now have access to talent that, while still technically freelance, can sit at the executive table, speak the language of investors and turn data into powerful insight that drives real growth. Subsequently, business owners increasingly realize the benefits of accessing freelance C-suite talent when, where and how they need it. If ongoing market trends are any indication, the demand for freelance leaders offering fractional service is only likely to grow, particularly as macroeconomic conditions remain uncertain.

The fractional leadership model provides a significant competitive advantage for smaller, owner-managed businesses that want to make the most of stretched resources during times of ambiguity. A fresh perspective on business challenges can be extremely powerful for businesses of any size, and a capable freelance leader, of which more and more are entering the market every day, can step in quickly, provide innovative solutions and adapt at pace to shifting priorities. There are also significant opportunities for larger organizations to bring in additional C-suite expertise to work alongside an existing leader, who is overstretched or requires a complementary skillset. For example, the expert touch of an experienced freelance Chief Financial Officer (CFO) can be invaluable during a funding round or merger & acquisition (M&A) activity. 

The New Global Talent Market

It’s been five years since the onset of COVID-19-induced lockdowns forever reshaped our shared relationship with work. The changes this brought—most notably the continued long-term adoption of remote and hybrid working—have been a key driver in the growth of freelance leadership roles. A few years ago, many companies were reluctant to hire a leader who could not report to the office full-time. In comparison, today’s modern world of work is unrecognisable, even with increasing return-to-office (RTO) mandates. While a degree of on-site presence is encouraged to build trust and rapport with their teams, freelancers and fractional leaders are able to operate effectively in a virtual world. They hold team meetings via video call, access cloud-based file management systems and collaborate with colleagues across a range of digital project management and productivity tools. 

Another contributing factor is the increasing ease of access to international talent, driving a truly global job market. Sectors with low barriers to entry and fragmented markets—many with exciting, growing businesses—are increasing demand for talented freelancers, particularly at the leadership level, who can lend their talents to companies across the globe. A truly global playing field means freelance leaders can better fit their career into their broader life ambitions, such as balancing work with a desire to travel. Roger Castle, an early adopter of fractional working and former full-time VP of Finance/CFO, cites numerous, relatable first-hand reasons why many leaders opt to freelance. “I’ve become a master of not missing out on the fun stuff,” Castle says, emphasizing the ability to travel more and pursue hobbies. Though he still works full, 8-hour days, Castle organizes his schedule “around things important to me,” he says. “I’m energized and enthused.”

The Future of Work Is Fractional

There is little doubt that, particularly for growing, owner-managed businesses, the future of leadership is flexible. Critically, the growing freelance market is not just financially driven but instead born from a desire for strategic alignment and adaptability, for both the fractional leader looking to adopt a different way of working and businesses looking to leverage world-class leadership talent on their own terms amidst ever-shifting markets. As the business world evolves, more companies will adopt this mindset across the C-Suite—from finance to marketing and even people development. 

For those in leadership roles, this freelance lifestyle is an opportunity to move firmly away from the corporate mould, realign life priorities and work on interesting and varied projects where their knowledge and expertise bring real value to those who need it most. In a world in which business success is more than ever based on knowledge, trust and expertise, freelancing, particularly at the C-suite level, represents a growing movement that proves outstanding leadership can be delivered in a bold new way. The benefits of this approach, for organizations and leaders alike, are potentially transformative. 

Sara Daw is Group CEO of The CFO Centre and The Liberti Group, and the author of Strategy and Leadership as Service – How the Access Economy Meets the C-Suite, which explores the fractional leadership trend. 



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The Hive Model: A Smarter Alternative to the ‘Hero CEO’ Myth

Leadership isn’t about one visionary—it’s about the hive. Getty Images

In the modern business world, we often find ourselves captivated by the idea of the “Hero CEO.” This individual, we are led to believe, possesses extraordinary vision, charisma and decision-making abilities that single-handedly drive the success of an entire organization. They are the linchpin, the sole source of inspiration and direction. This myth, while seemingly attractive, is fundamentally flawed and, frankly, outdated. The “Hive Model” is an alternative model that draws inspiration from the intricate and efficient workings of a beehive. This model emphasizes the power of a collaborative, interconnected team over the reliance on a single, supposedly superhuman leader.

Why is the “Hero CEO” myth problematic? Firstly, it places an unrealistic and unhealthy burden on one individual. Regardless of their talents, no single person can possess all the necessary skills and knowledge to navigate the complexities of today’s dynamic business landscape. Secondly, it fosters a culture of dependency, where employees look to the CEO for all answers and direction, stifling their own initiative and creativity. Lastly, it sets the stage for potential catastrophic failure should the “Hero CEO” falter or leave. When an organization’s fate rests on the shoulders of one person, it becomes incredibly vulnerable.

In contrast, a beehive is a marvel of organized complexity, a superorganism where thousands of individual bees work in harmony to achieve a common goal. There is no “Hero Bee” calling all the shots. Instead, there is a complex, decentralized system of roles and responsibilities, with each bee contributing unique skills and knowledge to the collective effort. Each bee has its role, and every role serves a purpose. Their organizational design is impeccable. From the young nurse bees caring for larvae to the seasoned foragers gathering pollen, each bee’s contribution is essential to the survival and prosperity of the hive. The Queen bee being in charge is also a myth. She is more of a servant leader, supporting the colony’s needs, not directing it. 

Drawing inspiration from this, the “Hive Model” proposes a shift from a top-down, hierarchical leadership structure to a more distributed, collaborative one. In this model, leadership is not confined to a single individual but is shared among the entire team. Each team member is empowered to contribute their expertise and take ownership of their work. Decisions are made collectively, based on diverse perspectives and insights. Information flows freely and transparently throughout the organization, just like the waggle dance in a hive allows bees to share information about food sources. 

Key principles of the “Hive Model”

Distributed Leadership

Empowering team members to take ownership and lead in their areas of expertise, rather than relying solely on a single “Hero CEO.” Today, knowledge organizations must be flexible. They need to be able to move, think fast and adapt. Big organisations are now competing against start-ups, virtual organisations and even A.I., so they need to make decisions quicker, form new teams faster, and be liberated enough to respond to external stimuli with greater agility. But to do that, you need less hierarchy and structure, which means removing layers. We need to break the traditional pyramid structure and use a flatter one.

Collaboration and Interconnection

Fostering a culture of collaboration and open communication, where team members share information, ideas and feedback freely. An organization is more like an organic living entity than a mechanistic machine. We must be aware of the whole system, how it connects and responds to stimuli, and the factors for growth and decay. We can only achieve success by combining the strength and wisdom of our team members, and this means not relying on a single Hero CEO. 

Specialization and Role Clarity

Recognizing and leveraging each team member’s unique skills and expertise is just like bees’ specialized roles within a hive. First, as soon as they hatch, all worker bees specialise in becoming housekeeper bees. They are trained by slightly older adult bees to look after all the cells, ensuring they are clean and keeping the larvae and the brood warm. They exclusively perform that role for the first few days of their life. They then take time to train the previous set of bees that have just hatched to do the same, and they are trained to become nurse bees to feed the larvae. This is a different valuable role with a different skill set. Working in organizations, we can take the lesson to be fully committed to what we are doing now, and to scan the horizon for what skills and capabilities are required for our next role. We must all keep learning, evolving and adapting. This is the responsibility of each individual, and there is an urgency. We can’t wait for a single vision and instruction from a Hero CEO.

Continuous Learning

Encouraging a culture of continuous learning and development, where team members are constantly expanding their knowledge and skills, just like the evolving roles of a worker bee throughout its life. By embracing the “Hive Model,” organizations can unlock many significant benefits. The Hive Model fosters a more engaged and motivated workforce. When employees feel valued, empowered and heard, they are more likely to be invested in the organization’s success. The Hive Model also leads to better decision-making. Drawing on diverse perspectives, collective intelligence often results in more innovative and effective solutions than those made by a single individual. Finally, the Hive Model builds resilience and sustainability. An organization that relies on a strong, interconnected team is better equipped to weather storms and adapt to change.

The “Hero CEO” myth is an outdated and ultimately limiting concept in the same way that it is a myth that the Queen controls and directs the hive. It’s time to embrace a new paradigm of leadership, one inspired by the wisdom of the beehive. The “Hive Model” offers a smarter, more sustainable and effective alternative that recognizes the power of collaboration, distributed leadership and continuous learning. Organizations can achieve greater success and build a more resilient future by fostering a strong, interconnected team. 

Philip Atkinson is the author of Bee Wise: 12 Leadership Lessons from Inside a Hive and the founder of Hive-Logic.com, a leadership consulting firm based in Basel, Switzerland. 



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Jamie Dimon Reaffirms Retirement Timeline as JPMorgan Eyes Successors

Jamie Dimon has headed JPMorgan Chase for nearly two decades. Brett Coomer/Houston Chronicle via Getty Images

Jamie Dimon, one of Wall Street’s most influential figures and the longstanding leader of JPMorgan Chase, surprised the finance world in 2024 when he announced plans to step down as the bank’s CEO within five years. That timeline remains unchanged, Dimon confirmed today (May 19) during JPMorgan’s investor day event in New York.

“The intent is the same as last year,” Dimon said when asked about succession plans. “Nothing has changed at all.”

After years of sidestepping retirement questions, Dimon acknowledged last year that JPMorgan was “on the way” to preparing for a leadership transition expected before the end of the decade. He reiterated that message today, emphasizing the strength of the company’s leadership pipeline. The bank has “built a very deep bench” of executives, he said, and it’s “prudent to be thinking about succession.”

Preserving JPMorgan’s internal culture and discipline will be a key focus as the company prepares for new leadership. “To me, the most important thing when it gets handed over is you have real teams, real cultures and hopefully they keep on building it,” said Dimon. “If you look at the best companies in the world, that’s what they had. They continue going forward regardless of who the CEO was.”

Replacing Dimon, who turns 70 next year, will be a formidable challenge. Since becoming CEO in 2006, he has guided JPMorgan through crises like the 2008 Financial Crisis and has become one of the most respected voices in global finance. Under his leadership, the bank has grown into the largest in the U.S. by both assets and market capitalization.

Who might succeed Dimon?

Dimon has declined to name potential successors, but several top executives are reportedly in the running. Marianne Lake, CEO of JPMorgan’s consumer and community banking division, is seen as a leading candidate. Other names in circulation include Doug Petno and Troy Rohrbaugh, the co-CEOs of the bank’s commercial and investment banking arm.

Jennifer Piepszak, formerly a key figure in the commercial and investment bank, was once viewed as a front-runner in the succession race. However, she removed herself from consideration earlier this year by stepping into the role of chief operating officer. “Piepszak has made clear her preference for a senior operating role, working closely with Jamie and in support of the top leadership,” the bank said in a statement, adding that she does not currently “want to be considered for the CEO position.”



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The Case for Positive-Sum Capitalism

A new dawn for economic design: reimagining capitalism through the lens of justice and inclusion. Unsplash+

In Isaac Asimov’s groundbreaking collection of short stories titled I, Robot, we encounter a profound ethical framework: the Three Laws of Robotics. These laws ensure robots protect human beings and obey orders while preserving themselves. They represent a brilliant moral compass designed to prevent harm and maximize good. But what if we applied a similar moral framework to our economic systems? What if we demanded that capitalism, like Asimov’s robots, be programmed to serve humanity rather than exploit it?

Recalibrating Our Moral Compass with Eyes Wide Open

Philosopher John Rawls introduced a provocative thought experiment called the “Veil of Ignorance” that can help us better understand the moral questions Asimov provokes. Imagine leaving this world temporarily, only to return without knowing your societal position. You might return as a corporate executive or a minimum-wage worker, as a man or a woman, as White or Black. Behind this veil of not knowing, what kind of economic system would you design?

Would you not advocate for protections for labor that are at least as strong as the protections for business interests advocated for in the Powell memo? Would you not reject modern American capitalism, which makes wealthy corporate titans massively richer but leaves the rest behind?

These questions strike at the heart of our national character. They reveal that the psychology of selfishness and tribal preference runs deeper than the cold calculations of economics. Like Asimov’s psycho-historian in the novel Foundation, who understood that human psychology ultimately determines historical outcomes, we must recognize that our psychological frameworks shape our economic realities more powerfully than any market force, particularly our addiction to zero-sum thinking.

Shaking Off the Plight of Zero-Sum Thinking

The zero-sum mentality, or the belief that your gain must come at my expense, has poisoned the well of American capitalism. It has transformed Adam Smith’s moral vision of capitalism into a grotesque caricature that Smith himself would scarcely recognize. Smith never advocated for unfettered markets divorced from ethical considerations. His vision included high ethical standards, progressive taxation, appropriate regulation and government as a partner in prosperity rather than an enemy to be vanquished.

Even Milton Friedman, often portrayed as the prophet of shareholder supremacy, believed that companies should treat workers and communities well. He advocated for universal basic income to care for those unable to participate fully in capitalism or left behind by capitalism’s creative destruction. These nuances have been deliberately erased from our economic discourse by those who benefit from an extractive system.

The evidence is overwhelming: extractive, exclusive economic institutions inevitably lead to national decline. Daron Acemoglu and James Robinson’s landmark book, Why Nations Fail, demonstrates conclusively that societies prosper when they build inclusive economic institutions that distribute opportunity broadly. Nations stagnate when small elites capture economic and political power, extracting wealth rather than creating it. Employee disengagement stemming from extractive corporate culture costs American businesses an estimated $483 to $605 billion annually. This represents nearly $13 trillion in potential market capitalization—value that could be created if businesses embraced inclusive practices. The cost of exclusion isn’t merely moral; it’s economically catastrophic.

A system where prosperity is shared, where opportunity is genuine and where our economic institutions reflect our highest values rather than our basest instincts is not out of reach. But it requires us to reject zero-sum thinking and embrace a positive-sum mindset where we recognize that we all win when we all win.

Imagine corporations that see workers as investments rather than costs, that distribute ownership broadly through stock options or employee stock ownership plans, that measure success not just by quarterly profits but by their contribution to community well-being. Imagine investors who demand both competitive returns and positive social impact, recognizing that these goals are complementary rather than contradictory. Imagine government as a strategic partner in building inclusive prosperity, investing in the foundations of shared growth while ensuring that markets serve the many rather than the few.

This is not utopian fantasy. It represents the best traditions of American pragmatism—building on what works, discarding what doesn’t and constantly expanding the circle of opportunity. It draws inspiration from our past while acknowledging that, as Martin Wolf writes in The Crisis of Democratic Capitalism, “The world of the mid-twentieth century is, for both good and bad, gone forever. We need to ‘build back better.’”

Bending the Arc of Our Economy Toward Fairness

The arc of the moral universe is long, but it bends toward justice. I believe the arc of our economic universe can bend toward fairness if we have the courage to reshape it. This will not happen through passive hoping or waiting for elites to voluntarily surrender their advantages. It requires active, determined citizens committed to transforming our economic institutions. And “fair opportunity” does not mean equal outcome. Outcomes depend on energy, effort, persistence, relationships and luck.

Investors, business leaders, policymakers and citizens: join this moral revolution in economic thinking. Question the zero-sum myths that justify exclusion. Demand transparency around the impacts of business decisions. Support companies and policies that expand opportunity rather than restrict it. Invest your time, talent and resources in building the equitable economy we need.

Someone once said, “You wouldn’t have read this far if you thought the pursuit of equality was impossible, or that the economic problems we face are fundamentally unsolvable.” We can solve these problems if we have the courage to face them honestly and the determination to address their root causes. Let us move forward with the understanding that behind the veil of ignorance, we would all choose a system that protects the most vulnerable, that distributes opportunity broadly and that measures success by how well it serves all citizens, not just the privileged few. Let us build an economy worthy of our highest aspirations—one that embodies our deepest values of justice, opportunity and shared prosperity.

The time is always right to do what is right. And today, right now, we must commit ourselves to bending the arc of our economy toward fairness. Our future as a nation depends on it.



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