WEBVTT - Businessweek Extra - John Donahoe

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<v Speaker 1>This is Bloomberg Business Week from Bloomberg Radio. I'm Jason

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<v Speaker 1>Kelly and I'm Carol Masser. Welcome to the Bloomberg Business

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<v Speaker 1>Week Extra. It's our weekly podcast bringing you an in

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<v Speaker 1>depth interview you'll not hear anywhere else. And we sat

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<v Speaker 1>down with John Donahoe. He's the incoming CEO of Nike.

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<v Speaker 1>He'll start that job in the new year. It was

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<v Speaker 1>really great to catch up with him because to see

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<v Speaker 1>what he said about why he took the job, what

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<v Speaker 1>he sees in terms of the fitness industry. But what

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<v Speaker 1>was really fun is there he is or he's been

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<v Speaker 1>in Silicon Valley and we got to talk about some

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<v Speaker 1>of those bigger, broader issues like the tech backlash that

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<v Speaker 1>we're seeing his views on that. This is a guy.

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<v Speaker 1>It's interesting his wife and you'll hear this in the conversation.

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<v Speaker 1>She holds to keep position at Stanford. They were really

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<v Speaker 1>partners throughout. She went to law school while he went

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<v Speaker 1>to business school. So his perspective on this is wide ranging.

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<v Speaker 1>A very thoughtful conversation. Check it out. We gotta start John,

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<v Speaker 1>uh with your time at Stanford. Take us back there. Well,

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<v Speaker 1>I was I was blessed enough to at the g

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<v Speaker 1>SB between nineteen and it was really, I think probably

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<v Speaker 1>the most formative experience I had that has set me

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<v Speaker 1>up for not just my career, but to be honest,

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<v Speaker 1>my my overall life over the last thirty years. UM.

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<v Speaker 1>I distinctly remember many of my professors as well as

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<v Speaker 1>my classmates, and what Stanford really really grounded me in

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<v Speaker 1>was this notion of servant leadership. Um. It was a

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<v Speaker 1>phrase I first heard at Stanford. It resonated with me.

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<v Speaker 1>Ernie R. Buckle, it had been a former dean of

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<v Speaker 1>Stanford and that's where the phrase came from. And if

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<v Speaker 1>I were to say there's been one foundational, foundational, almost

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<v Speaker 1>guiding principle for the last you know, thirty five years

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<v Speaker 1>since then, it's been a real inspiration and attraction towards

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<v Speaker 1>this notion of servant leadership. Well, and there's so many

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<v Speaker 1>full circle elements to this, and we're going to get

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<v Speaker 1>to them throughout the conversation, one of them being the

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<v Speaker 1>Phil Knight. This is school. But you were the winner,

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<v Speaker 1>I believe, of the R. Buckle Awards, so clearly whatever

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<v Speaker 1>you learned there really took root. I mean, when you

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<v Speaker 1>go there in the eighties, Silicon Valley is certainly developed

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<v Speaker 1>and developing, a far cry from from where it is now.

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<v Speaker 1>Why did you go West in the first place. Well,

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<v Speaker 1>Stanford at the time that you know, I I went

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<v Speaker 1>to Dartmouth College undergrad. I was fortunate enough as a

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<v Speaker 1>senior in college to apply to a few different business schools.

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<v Speaker 1>I was fortunate enough to get in. But I knew

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<v Speaker 1>I wanted to go to Stanford because Stanford, as a

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<v Speaker 1>as a senior and a senior in college rather in

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<v Speaker 1>two it was known for teamwork. Um. It was known

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<v Speaker 1>for working with and through others, and that was really

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<v Speaker 1>attractive to me. I'd played sports my whole life. I

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<v Speaker 1>loved team sports. I had not yet been in business,

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<v Speaker 1>but I knew that a team approach was what I

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<v Speaker 1>wanted to do, and that was a reputation Stanford had.

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<v Speaker 1>I'd never lived in California, So I joined Baine for

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<v Speaker 1>two years, uh the agreement that I was going to

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<v Speaker 1>going to Stanford, and when I came out, I certainly

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<v Speaker 1>wasn't disappointed. Well, And it's interesting, John, I mean, because

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<v Speaker 1>both you and your wife were there at the same time.

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<v Speaker 1>She was getting a law degree, correct, Yeah, a law

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<v Speaker 1>and a master's in nation studies. Um uh so, yeah,

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<v Speaker 1>joint a joint degree. What was it about those? And

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<v Speaker 1>it was really the early years of our It was

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<v Speaker 1>really it was sort of a quick you know, we

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<v Speaker 1>came out there, we had we had been married, we

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<v Speaker 1>had our first child my first term of of business school.

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<v Speaker 1>Eileen started at Stanford Law School that next fall, and

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<v Speaker 1>we actually lived in married students housing for five years,

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<v Speaker 1>so the two years I was at business school and

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<v Speaker 1>three years after and and one of the things that

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<v Speaker 1>Stanford really embodied was this notion of family. And Stanford

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<v Speaker 1>feels like a family inside the business school and it's

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<v Speaker 1>not a place where there's work at home or personal

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<v Speaker 1>and professional life, a more integrated understanding of life. I

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<v Speaker 1>really felt like I learned at Stanford, and we were

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<v Speaker 1>at a very formative stage of our marriage, you know

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<v Speaker 1>what began, you know, a marriage and a set of

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<v Speaker 1>dual careers that have intertwined for the last thirty five years.

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<v Speaker 1>And Stanford kind of legitimized that. They they they they

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<v Speaker 1>took a lot of classes at Stanford that were about

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<v Speaker 1>the human side of management, about the inner journey of leadership,

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<v Speaker 1>not just accounting and marketing and finance and so in

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<v Speaker 1>at Stanford it was very legitimate to talk about things

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<v Speaker 1>like the inner journey of leadership, talk about your personal

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<v Speaker 1>and professional life, and how to build an integrative life.

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<v Speaker 1>And so at a very young age and a very

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<v Speaker 1>impressionable stage of my life, I feel like what I

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<v Speaker 1>got from Stanford is those things were not only were

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<v Speaker 1>they legitimate, they were the best way to lead a

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<v Speaker 1>fulfilling and hopefully impactful life. It sounds like you feel

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<v Speaker 1>like I learned that at Stanford. It sounds like you

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<v Speaker 1>got that early on. Because it's interesting, is I feel

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<v Speaker 1>like the conversation among leaders today we're seeing it with

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<v Speaker 1>the Business Roundtable that you know, yep, it's great to

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<v Speaker 1>build a strong com many, a financially sound company, but

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<v Speaker 1>it's not just about shareholders. It's a much more holistic

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<v Speaker 1>approach to looking at a company's impact on society at large.

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<v Speaker 1>And it sounds like you learned that early, very much,

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<v Speaker 1>very much. You know, Stanford embodied that. Um it was

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<v Speaker 1>it was some of the other business schools at the time,

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<v Speaker 1>we're almost kind of, you know, factories of certain career tracks.

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<v Speaker 1>At Stanford, they really encouraged us to to go inside

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<v Speaker 1>of ourselves, think about what spoke to us, what do

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<v Speaker 1>we care deeply about to see the world in a

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<v Speaker 1>fairly integrative ray way. They had a very strong public

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<v Speaker 1>sector program that was integrated into the core NBA program,

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<v Speaker 1>not a separate program. And so this notion of you know,

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<v Speaker 1>if I think about back in that period of time,

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<v Speaker 1>this notion of servant leadership, this notion of an integrative

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<v Speaker 1>perspective both of life and business, society and business, and

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<v Speaker 1>also an integrative way to understand a business. I feel

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<v Speaker 1>like those are all things that, um, I didn't know

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<v Speaker 1>it at the time, how how valuable it was going

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<v Speaker 1>to be. And I probably couldn't have use those words

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<v Speaker 1>at the time. I was just in the experience. But

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<v Speaker 1>I feel so fortunate because I think those things have

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<v Speaker 1>served me really really well in the last you know,

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<v Speaker 1>the last thirty five years since then. So let's go

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<v Speaker 1>back to the mid eighties when you come out. How

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<v Speaker 1>does all of that inform the choices you make about

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<v Speaker 1>the career you want to have and where you want

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<v Speaker 1>to have it. Well, it's a it's a funny it's

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<v Speaker 1>a funny example because I made my career choice to

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<v Speaker 1>go back to Bain after Stanford because I was following

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<v Speaker 1>my wife in the sense that she was still in

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<v Speaker 1>law school. And so I said, all right, I'll go

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<v Speaker 1>back to Bain. They paid for business school. UM. I

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<v Speaker 1>don't know if I would have chosen to do that

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<v Speaker 1>or not, but by saying that I valued that part

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<v Speaker 1>of our relationship, UM, you know, allow me to go

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<v Speaker 1>back to Bain. And I'll actually go back. One other

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<v Speaker 1>story prior to this, and just and this just tells

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<v Speaker 1>you about what's Stanford's like. During my first year at

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<v Speaker 1>Stanford Business School, my wife applied to law school and

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<v Speaker 1>she got in. And so during the beginning of my

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<v Speaker 1>second year, which was going to be her first year

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<v Speaker 1>Stanford Law School, we had a one year old child.

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<v Speaker 1>I went to the dean of the Dean of Students

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<v Speaker 1>um Student Affairs at Stanford Business School, Jerry Gould, and

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<v Speaker 1>I said, Dean Gold, I have to take next year

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<v Speaker 1>off or I have to work part time because we

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<v Speaker 1>have a one year old. We can't both be in

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<v Speaker 1>graduate school at the same time. And this is classic Stanford,

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<v Speaker 1>she says. Dean Gold says, oh, John, note, just do this.

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<v Speaker 1>Go ahead and start and you know, if you want

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<v Speaker 1>to take three classes instead of four, that's fine. Maybe

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<v Speaker 1>start with four. If you want to drop one, that's fine,

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<v Speaker 1>and we'll be flexible. You don't have you don't have

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<v Speaker 1>to come in with some preordained plan. So that was

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<v Speaker 1>like that gave me go ahead. Well, what she did

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<v Speaker 1>is she gave me permission to have an open mind

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<v Speaker 1>and my and that said, hey, it was legitimate what

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<v Speaker 1>my wife was doing and the fact we had a kid,

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<v Speaker 1>as well as going to business school. As it worked out,

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<v Speaker 1>I started that second year UM started with four classes.

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<v Speaker 1>I thought I was going to drop one, never ended

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<v Speaker 1>up dropping one and ended up graduating on time. But Stanford,

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<v Speaker 1>both institutionally for the dean and just the culture gave

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<v Speaker 1>me permission to have the fact that it was a father,

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<v Speaker 1>the fact that I was married to someone who was

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<v Speaker 1>a peer and had a dual career that was legitimate.

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<v Speaker 1>And so ironically I ended up following my wife when

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<v Speaker 1>I went to bain Um thereafter, and you know that

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<v Speaker 1>ended up working and okay, end up staying seventeen years

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<v Speaker 1>of bain who would have figured at that time. And

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<v Speaker 1>so you find yourself then back in in Silicon Valley

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<v Speaker 1>in many ways and have been there really for some

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<v Speaker 1>of the most formative years as Silicon Valley finds its

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<v Speaker 1>way deeper and deeper and deeper into society and culture,

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<v Speaker 1>help us understand the connection in between Silicon Valley and Stanford,

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<v Speaker 1>because in many ways and in many people's minds, they're inextricable.

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<v Speaker 1>How how do we best understand that? Well? You you

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<v Speaker 1>just said it. You just said it, well, that they

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<v Speaker 1>are inextricable. So, for instance, I distinctly remember as a

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<v Speaker 1>business school student, Steve Jobs came to campus and gave

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<v Speaker 1>a speech. Uh, Andy Grove came to campus, gave a speech,

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<v Speaker 1>and you know, to be honest, we just thought that

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<v Speaker 1>was normal. It wasn't even it was the Stanford largely

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<v Speaker 1>because of its location, but also because of its culture. Um.

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<v Speaker 1>You know, had a very um poorous experience with business.

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<v Speaker 1>Warren Buffett helped speak at one of the investment classes. Um.

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<v Speaker 1>And so the outside world, be at Silicon Valley or

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<v Speaker 1>the other business community kind of seamlessly flowed in and out,

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<v Speaker 1>and you, as a student were probach enough to get

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<v Speaker 1>to get access to at And then once I graduated,

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<v Speaker 1>and I was part of the Silicon Valley community, first

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<v Speaker 1>at Bain and then certainly at eBay, and now it's service.

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<v Speaker 1>Now I'm frequently invited back to speak in a class

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<v Speaker 1>or to do a suminar and and of course you'll

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<v Speaker 1>always say yes, that's why I'm doing this video. Dan

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<v Speaker 1>Levin calls me and says, and you say, you know,

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<v Speaker 1>I am so appreciative of my time at Stanford. It's like,

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<v Speaker 1>of course I want to give back because what Stanford

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<v Speaker 1>gave me has been invaluable and so and I think

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<v Speaker 1>that's particularly true, you know around Silicon Valley that Silicon

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<v Speaker 1>Valley learns from Stanford, and Stanford learns from Silicon Valley. Well,

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<v Speaker 1>and I think that's definitely continuing. And I think, you know,

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<v Speaker 1>Silicon Valley so much a focus of the world at

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<v Speaker 1>large and just big tech um, you know, whether it's

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<v Speaker 1>by regulators, policymakers. I'm curious, having been so entrenched at

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<v Speaker 1>several companies within Silicon Valley, what do you make of

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<v Speaker 1>some of the scrutiny that some of the big tech players,

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<v Speaker 1>whether it's a Google, whether it's a Facebook, um, whether

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<v Speaker 1>it's some of the other players. Amazon in particular, what

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<v Speaker 1>do you make of that scrutiny, Because I'm sure it's

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<v Speaker 1>you know, it's certainly being pulled into the teachings at Stanford. Well, absolutely,

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<v Speaker 1>and here's what here's the to go back to my

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<v Speaker 1>initial team, here's the army my wife today. My wife

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<v Speaker 1>went on and had a career in law. She was

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<v Speaker 1>an ambassador to Human Rights Concil under President Obama. She

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<v Speaker 1>now has a co director of a center at Stanford

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<v Speaker 1>in the Freeman Spoggling Institute around digital governance and the

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<v Speaker 1>impact on democracy and on human rights, so very much

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<v Speaker 1>along these issues of the second order consequences and second

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<v Speaker 1>order of issues of technology today, around privacy, around security,

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<v Speaker 1>around things like fake news, and the impact I can

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<v Speaker 1>have on elections. And so I can happily say, like

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<v Speaker 1>most things in my marriage, my wife is the authority

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<v Speaker 1>on these particular topics. Well, well, Jason and I are

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<v Speaker 1>just writing that we're going to have her on because

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<v Speaker 1>she sounds impressive. Trust me, your ratings will be much

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<v Speaker 1>higher when she's on then when I'm on, because she's

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<v Speaker 1>the brains of the family. But this is here's the point.

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<v Speaker 1>Stanford wants to be the place that's convening dialogue about

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<v Speaker 1>these topics. Stanford is the place that a Google or

0:12:15.440 --> 0:12:21.360
<v Speaker 1>a Facebook, or Twitter or an Apple will come with

0:12:21.440 --> 0:12:25.080
<v Speaker 1>an open mind and trusting that they'll be honest dialogue.

0:12:25.080 --> 0:12:28.840
<v Speaker 1>And then Stanford's a place that that government, current government

0:12:28.840 --> 0:12:32.240
<v Speaker 1>officials and then former government officials like my wife. Um,

0:12:32.280 --> 0:12:35.360
<v Speaker 1>you know, whether it was Condi Rice, whether it's George Schultz,

0:12:35.400 --> 0:12:39.640
<v Speaker 1>Bill Perry, a long history of of embracing both producing

0:12:40.960 --> 0:12:44.680
<v Speaker 1>government policymakers and officials and then while giving them back.

0:12:45.360 --> 0:12:48.560
<v Speaker 1>And then of course the faculty bringing research, and then

0:12:49.040 --> 0:12:52.480
<v Speaker 1>and then civil society and so both what in this

0:12:52.520 --> 0:12:55.760
<v Speaker 1>case my wife's particular center, it's just emblematical what Stanford

0:12:55.760 --> 0:12:59.000
<v Speaker 1>does so well. And business school brings Silicon Valley and

0:12:59.080 --> 0:13:02.040
<v Speaker 1>business and actuld tmia together and in this case in

0:13:02.080 --> 0:13:04.839
<v Speaker 1>the public policy arena, Stanford is one of the few

0:13:04.880 --> 0:13:07.760
<v Speaker 1>places in the world where all the various stakeholders and

0:13:07.800 --> 0:13:12.160
<v Speaker 1>what is this somewhat emotional debate right now and somewhat

0:13:12.200 --> 0:13:16.960
<v Speaker 1>polarizing debate, they can come and have honest dialogue with

0:13:17.000 --> 0:13:20.520
<v Speaker 1>one another in a confident that Stanford will create an

0:13:20.559 --> 0:13:25.560
<v Speaker 1>environment of of civility and respect to have that that

0:13:25.720 --> 0:13:28.560
<v Speaker 1>sort of truth seeking dialogue. And and that's true about

0:13:28.559 --> 0:13:31.040
<v Speaker 1>the university in addition to the Business School in this

0:13:31.120 --> 0:13:33.800
<v Speaker 1>case is being done or more in the university, but

0:13:34.400 --> 0:13:36.840
<v Speaker 1>it is just part of what is in that you know,

0:13:36.880 --> 0:13:39.440
<v Speaker 1>that secret sauce that is Stanford John. Just quick follow

0:13:39.480 --> 0:13:41.240
<v Speaker 1>up though, but if you were at that center, you

0:13:41.240 --> 0:13:43.240
<v Speaker 1>were pulled into a class and the and the students

0:13:43.240 --> 0:13:45.920
<v Speaker 1>they were saying, Hey, John, what do you think about

0:13:46.040 --> 0:13:48.280
<v Speaker 1>the tech lash that's going on? Should big tech be

0:13:48.360 --> 0:13:52.240
<v Speaker 1>broken up? What would you say? Well, I think I

0:13:52.280 --> 0:13:56.520
<v Speaker 1>think tech is fundamentally the impact technology has had on

0:13:56.600 --> 0:14:00.160
<v Speaker 1>the lives of almost every individual in the world old

0:14:00.800 --> 0:14:04.840
<v Speaker 1>and by and large in society has been positive. Technology

0:14:04.840 --> 0:14:10.760
<v Speaker 1>has brought transparency, Technologies brought opportunity. Technology has brought prosperity

0:14:10.920 --> 0:14:15.240
<v Speaker 1>in general. But there are second order consequences and second

0:14:15.280 --> 0:14:18.480
<v Speaker 1>order consequences we haven't yet faced in the world. So,

0:14:18.559 --> 0:14:21.400
<v Speaker 1>for instance, we have a legal system that's very clear

0:14:21.400 --> 0:14:25.760
<v Speaker 1>in the physical world, right if if law enforcement has

0:14:25.840 --> 0:14:27.880
<v Speaker 1>a concern, they can go to a judge that they

0:14:27.880 --> 0:14:30.480
<v Speaker 1>can get a subpoena, that there's clear rules and what

0:14:30.520 --> 0:14:32.920
<v Speaker 1>a subpoena can do. If subpoena comes to a company,

0:14:33.200 --> 0:14:36.480
<v Speaker 1>you know what you need to do of subpoena. That

0:14:36.520 --> 0:14:39.520
<v Speaker 1>hasn't happened yet in the digital world. So now we

0:14:39.560 --> 0:14:42.080
<v Speaker 1>don't really have it. We don't really have a government system.

0:14:42.120 --> 0:14:45.160
<v Speaker 1>And we saw that in the debate between um, you know,

0:14:45.240 --> 0:14:47.960
<v Speaker 1>the FBI and Apple a few years ago. UM. And

0:14:48.040 --> 0:14:51.000
<v Speaker 1>so that needs to be thought through. And it's it.

0:14:51.280 --> 0:14:53.680
<v Speaker 1>You know, we talked about innovation of products, that's innovation

0:14:53.920 --> 0:14:57.120
<v Speaker 1>of governance. That it's the first time we're facing this,

0:14:57.240 --> 0:14:59.320
<v Speaker 1>and there are second order consequences that need to be

0:14:59.360 --> 0:15:03.960
<v Speaker 1>thought through. Similarly, technology is brought fundamentally good. It's connected

0:15:04.000 --> 0:15:08.160
<v Speaker 1>the world together. But something like fake news, well that's

0:15:08.160 --> 0:15:09.920
<v Speaker 1>come out of kind of come out of left field.

0:15:09.960 --> 0:15:12.720
<v Speaker 1>And I can tell you no one in Silicon valuing

0:15:12.720 --> 0:15:16.480
<v Speaker 1>technology five years ago or eight years ago was thinking

0:15:16.520 --> 0:15:19.800
<v Speaker 1>about fake news. No one imagine, Oh my goodness, that's

0:15:19.800 --> 0:15:22.160
<v Speaker 1>how this platform can be used. Now we have to

0:15:22.160 --> 0:15:25.200
<v Speaker 1>confront it. Now, we have to think through it. I

0:15:25.320 --> 0:15:27.240
<v Speaker 1>was having a I was having a drink last night

0:15:27.240 --> 0:15:29.960
<v Speaker 1>with a Mead Kordistani, who's the executive chair of Twitter.

0:15:30.000 --> 0:15:32.880
<v Speaker 1>And you saw you know, Twitter, Jack Dorsey and and

0:15:32.920 --> 0:15:37.040
<v Speaker 1>Twitter scidy too to ban all political advertising. Okay, that

0:15:37.080 --> 0:15:39.360
<v Speaker 1>may or may not be the right answer, but it's

0:15:39.360 --> 0:15:42.040
<v Speaker 1>calm after they were thinking about it and trying to

0:15:42.080 --> 0:15:45.480
<v Speaker 1>get honest dialogue and We're in an environment where you're

0:15:45.520 --> 0:15:47.240
<v Speaker 1>dan if you do, dan if you don't. And that's

0:15:47.240 --> 0:15:49.920
<v Speaker 1>just part of life that when when any time you're

0:15:49.920 --> 0:15:53.320
<v Speaker 1>in the hot seat about something and they're differing perspectives,

0:15:53.680 --> 0:15:57.520
<v Speaker 1>honest people can have, UM, then you know it's hard.

0:15:58.160 --> 0:16:01.040
<v Speaker 1>My perspective is this, it's it's relatively simple. As kind

0:16:01.080 --> 0:16:03.920
<v Speaker 1>of a gray haired guy in Silicon Valley, I guess

0:16:03.920 --> 0:16:07.360
<v Speaker 1>soon to be moving to Portland. Um. The important part

0:16:07.400 --> 0:16:10.160
<v Speaker 1>is we engage in honest dialogue. We don't duck the issues.

0:16:10.960 --> 0:16:13.680
<v Speaker 1>It's not that that technology was good and now is bad.

0:16:13.840 --> 0:16:17.760
<v Speaker 1>That's not at all. The reality is technologies had a

0:16:17.760 --> 0:16:20.880
<v Speaker 1>profound impact on the world. That is net net net

0:16:21.040 --> 0:16:25.440
<v Speaker 1>fundamentally positive. I deeply believe that. But it's also true

0:16:25.520 --> 0:16:28.800
<v Speaker 1>that there are second order consequences and issues that are

0:16:28.920 --> 0:16:33.400
<v Speaker 1>very real and we have to be able to acknowledge

0:16:33.440 --> 0:16:38.040
<v Speaker 1>those and then engage in what is often messy dialogue

0:16:38.280 --> 0:16:41.800
<v Speaker 1>where reasonable people can have different perspectives and see if

0:16:41.880 --> 0:16:45.680
<v Speaker 1>we can get civil dialogue around or right. What are

0:16:45.680 --> 0:16:50.960
<v Speaker 1>the issues? What are the remedies or policies or frameworks

0:16:51.000 --> 0:16:54.040
<v Speaker 1>that can help us, uh, you know, begin to address

0:16:54.080 --> 0:16:55.720
<v Speaker 1>some of these issues. And it's going to take time.

0:16:55.760 --> 0:16:58.560
<v Speaker 1>These are not simple issues, and so what doesn't work

0:16:59.120 --> 0:17:01.920
<v Speaker 1>is the Polo titians labeling tech is the bad guys.

0:17:02.160 --> 0:17:04.960
<v Speaker 1>I don't buy that. In the same way you can't

0:17:04.960 --> 0:17:08.439
<v Speaker 1>be tech companies and stay government's bad regulations bad. I

0:17:08.480 --> 0:17:11.639
<v Speaker 1>don't buy that either, and he is. This is gonna

0:17:11.640 --> 0:17:15.600
<v Speaker 1>be the hard work of dialogue. And so, as you mentioned,

0:17:16.000 --> 0:17:18.959
<v Speaker 1>Silicon Valley will continue to wrestle with this, and you

0:17:19.119 --> 0:17:21.880
<v Speaker 1>certainly will be a part of this. You're gonna keep

0:17:21.880 --> 0:17:24.800
<v Speaker 1>your board seat at Service now. I think I believe

0:17:24.840 --> 0:17:27.080
<v Speaker 1>through the end of your term you'll have a transition

0:17:27.160 --> 0:17:29.520
<v Speaker 1>to deal with there with Bill McDermott. But we got

0:17:29.520 --> 0:17:31.560
<v Speaker 1>to talk about your new job. As you said, you're

0:17:31.560 --> 0:17:34.560
<v Speaker 1>moving to Portland to become the CEO of Nike. You've

0:17:34.560 --> 0:17:38.160
<v Speaker 1>served on the board there. Why take this job now?

0:17:38.160 --> 0:17:42.160
<v Speaker 1>Why bring it full circle, as you say, with your

0:17:42.840 --> 0:17:46.000
<v Speaker 1>esteemed history at the Phil Knight Business School and now

0:17:46.040 --> 0:17:50.280
<v Speaker 1>working for the company that Phil Knight created. Yeah, it

0:17:51.160 --> 0:17:52.879
<v Speaker 1>feels spite a big role to g SP. It's not

0:17:52.920 --> 0:17:57.000
<v Speaker 1>quite called full night business goal but night now. But

0:17:57.080 --> 0:18:01.160
<v Speaker 1>you know I was I is lucky enough and fortunate

0:18:01.240 --> 0:18:03.840
<v Speaker 1>enough to meet Phil twenty years ago. And Mark Parker

0:18:05.280 --> 0:18:13.440
<v Speaker 1>Nike's CEO, and I've always deeply resonated with Nike's purpose UM,

0:18:13.480 --> 0:18:18.320
<v Speaker 1>which is, you know, bring inspiration and innovation to every

0:18:18.359 --> 0:18:21.639
<v Speaker 1>athlete in the world. Asterisk around athlete. If you have

0:18:21.680 --> 0:18:25.400
<v Speaker 1>a body, you are an athlete. And to me, that's

0:18:25.440 --> 0:18:29.240
<v Speaker 1>around human potential. It speaks to each person on this planet,

0:18:29.320 --> 0:18:35.040
<v Speaker 1>around the potential they have within them. And sport is

0:18:35.720 --> 0:18:38.159
<v Speaker 1>sport is a very powerful institution in a world right

0:18:38.200 --> 0:18:40.400
<v Speaker 1>now a lot of our other institutions are falling down.

0:18:40.480 --> 0:18:44.919
<v Speaker 1>They're polarizing, whether it's you know, government or politics. Sport

0:18:45.040 --> 0:18:47.680
<v Speaker 1>is something that brings people together. It brings people together

0:18:47.760 --> 0:18:51.680
<v Speaker 1>on a level playing field within countries and across countries.

0:18:52.359 --> 0:18:56.200
<v Speaker 1>And so the the purpose of Nike and the role

0:18:56.240 --> 0:18:58.280
<v Speaker 1>in impact it does and can have in the world

0:18:58.400 --> 0:19:02.200
<v Speaker 1>is just something that has I've always admired deeply. It's

0:19:02.200 --> 0:19:04.960
<v Speaker 1>always spoken to me. And so, as you mentioned, I

0:19:05.040 --> 0:19:07.159
<v Speaker 1>was privileged enough to be served on the board the

0:19:07.200 --> 0:19:10.679
<v Speaker 1>last five years, and when Mark and failing the board

0:19:11.400 --> 0:19:14.520
<v Speaker 1>UH invited me to have this opportunity to become CEO,

0:19:14.720 --> 0:19:19.120
<v Speaker 1>it almost felt like UM a calling and UH and

0:19:18.840 --> 0:19:21.719
<v Speaker 1>a cause that I had to pursue and very much

0:19:21.760 --> 0:19:23.280
<v Speaker 1>along the lines of what we've been talking about in

0:19:23.320 --> 0:19:26.520
<v Speaker 1>this conversation. Nike is at the epicenter of many things,

0:19:26.640 --> 0:19:29.520
<v Speaker 1>and I think has had a track record of playing

0:19:29.560 --> 0:19:32.520
<v Speaker 1>a very positive role not just with its athletes and

0:19:32.640 --> 0:19:36.639
<v Speaker 1>customers and consumers, but also in the broader society. And

0:19:36.640 --> 0:19:40.240
<v Speaker 1>and so I am I'm feel very privileged and honored

0:19:40.240 --> 0:19:43.920
<v Speaker 1>to to have the opportunity to serve continue my my

0:19:43.920 --> 0:19:47.600
<v Speaker 1>my quest of servant leadership by serving the employees and

0:19:47.680 --> 0:19:51.720
<v Speaker 1>customers and athletes and society around Nike. And I'm looking

0:19:51.760 --> 0:19:53.600
<v Speaker 1>forward to it. So if there's one lesson you could

0:19:53.640 --> 0:19:56.480
<v Speaker 1>give to uh future NBA students, what would it be,

0:19:56.600 --> 0:20:01.760
<v Speaker 1>just quickly our future advice? Just do it, Just do it.

0:20:01.920 --> 0:20:04.639
<v Speaker 1>That's John Donahoe. He's Stanford Graduate School of Business, class

0:20:04.640 --> 0:20:07.280
<v Speaker 1>of six. Week caught up with him because this week

0:20:07.359 --> 0:20:10.480
<v Speaker 1>in the magazine. In Business Week magazine it's all about

0:20:10.520 --> 0:20:13.600
<v Speaker 1>the top business schools in the United States, Stanford was

0:20:13.680 --> 0:20:15.520
<v Speaker 1>number one. So he's an a lump so we talked

0:20:15.520 --> 0:20:17.800
<v Speaker 1>with him. But he was chairman of the board at PayPal,

0:20:17.880 --> 0:20:20.960
<v Speaker 1>former president and CEO at eBay. He had some time

0:20:21.040 --> 0:20:24.160
<v Speaker 1>at Banning Company, was a former CEO there, he's now

0:20:24.200 --> 0:20:26.760
<v Speaker 1>at Service, now at the top job, but he's taking

0:20:26.760 --> 0:20:28.760
<v Speaker 1>over the top job at Nike come the new year.

0:20:29.000 --> 0:20:32.080
<v Speaker 1>A very important conversation. Important guy you're gonna want to

0:20:32.160 --> 0:20:34.960
<v Speaker 1>keep hearing from, especially as he takes that new job.

0:20:34.960 --> 0:20:37.600
<v Speaker 1>You've been listening to Bloomberg Business Week Extra, he short

0:20:37.600 --> 0:20:40.080
<v Speaker 1>a tune into Bloomberg Business Week Radio Live Monday through

0:20:40.080 --> 0:20:43.000
<v Speaker 1>Friday at TBM Wall Street Time, bl Bloomberg Radio. I'm

0:20:43.040 --> 0:20:45.760
<v Speaker 1>Carol Masser and I'm Jason Kelly. This is Bloomberg