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Valuing the metaverse, Marc Andreessen interview, and more: The Daily Read weekender
Harmony Internal - McKinsey
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CURATED PICKS FOR YOUR DOWNTIME, FROM OUR EDITORS
Torea Frey
Managing Editor, SeattleSummer is here—at least if you’re in the Northern Hemisphere. As we slide into the weekend, lean back with some of this week’s big reads on tech, remote work, and more:
Quote of the day
—Manage risk and get informed about disclosure criteria and transparency in “Cybersecurity legislation: Preparing for increased reporting and transparency”
Chart of the day
ready to unwind?
Need tips on how to unleash your team’s full potential?
In a new interview from McKinsey’s Author Talks series, bestselling author Daniel Coyle defines the essential elements that create the foundation for optimal company culture.
Podcast time: How current global trends are disrupting the fashion industry
The latest episode of The McKinsey Podcast looks at what fashion suppliers and brands are doing to adapt and thrive amid economic and geopolitical challenges.
15-Across: It can be dramatic or tragic
Know the answer? Test yourself with the latest McKinsey Crossword, Solstice | No. 81.
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This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 05:05 - 24 Jun 2022 -
Meet Uffizio At Seguridad Expo In Mexico At Stand No: 1248
Meet Uffizio At Seguridad Expo In Mexico At Stand No: 1248
It's official. We’re flying over international waters to be a part of Latin America's most awaited Security Expo! We are happy to announce that Uffizio will be exhibiting at Expo Seguridad Mexico this month, from 28th -30th June.
We’ll be talking about our advanced fleet management system, Trakzee. We will also demonstrate how it can help businesses increase profits and reveal some of our most exclusive features.
Our fleet management products have the reputation of maintaining international standards. Today, Trakzee is deployed in over 65+ countries and now it's time for Mexico! Visit us at Booth - 1248 and get a chance to see our platform live and in action!Schedule a meeting now! 
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by "Uffizio Technologies Pvt Ltd" <official@uffizio.in> - 04:11 - 24 Jun 2022 -
US states can close the digital divide. A lot of new funding can help.
The Shortlist
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Our best ideas, quick and curated | June 24, 2022 View in browser 
Out of many, one . . . digital nation? The United States has allocated massive funding to fix the digital divide. This week, we look at how that might happen. Plus, how to build a global tech unicorn, and what has changed—and what hasn’t—in the 20 years since the launch of McKinsey on Finance. 
Logging on. Twenty-four million Americans lack access to high-speed internet, and the service is beyond the reach of many more because it is too expensive or because they lack digital literacy. US policy makers have long talked about the need to close the nation’s digital divide—and now they have made a concrete move to do so. Funding in. Congress has appropriated more than $100 billion to help states bring high-speed-internet access to every American household, as part of the Bipartisan Infrastructure Law and the American Rescue Plan Act. This funding is one of the largest public investments in connectivity since the creation of the Interstate Highway System in 1956. Success could spur innovation and create jobs, but whether states have the administrative and planning capacity to take full advantage of the opportunity is unclear. Who’s in charge? Many states don’t have a dedicated broadband team. And if they do, it is often tucked inside another agency or staffed by a third party. Yet states are expected to administer federal broadband funds on tight timetables, across multiple agencies and levels of government, and with deep involvement from private-sector internet service providers. First steps. To get off on the right foot when developing their broadband programs, states can take several steps. First and foremost, they can create a well-staffed broadband program office whose first task is to assess the current state of connectivity. The office should outline its strategic goals, including how to prioritize deployment, equity, and affordability and how it will translate those objectives into specific plans for each federal program. Engaging key stakeholders, including public and private entities, nonprofits, and communities, could create valuable buy-in and build support. Impact officers. As states develop and launch requests for proposals and programs, they may want to consider how they will monitor progress once those grants are awarded. For example, they could institute tracking and reporting requirements to ensure that goals are being met, while avoiding waste, fraud, and abuse of taxpayer funds. Some states have appointed infrastructure coordinators to help direct funding to set priorities and allocate resources effectively. If states don’t adequately dedicate resources to their broadband program efforts, they could fail to secure all the funding they deserve or make the most of the money they receive. The stakes are high: with more than $100 billion in federal funding allocated, states could realize the goal of near-universal broadband access and launch the United States on a more innovative, equitable, and prosperous path.
OFF THE CHARTS Celestial ambitions Space tourism is just the start. Future forays into space could expand from a “space for Earth” economy to a “space for space” economy. Private space funding has shifted to satellite-related and other ventures in the low-Earth orbit. The next shift may be “lunar and beyond” initiatives, with applications in propulsion, mining, and robotics. Who is funding these celestial ambitions? Over the past five years, commercial R&D spending within the space sector has risen by 22 percent annually, while the share of US government funding has declined rapidly since 2010. 
Check out our chart of the day here.
INTERVIEW Building a global tech unicorn India boasts the third-largest start-up ecosystem in the world after the United States and China, with an estimated 60,000 start-ups, including 90 unicorns, in 2021. Freshworks, a software-as-a-service (SaaS) company that got its start in India and is now headquartered in San Mateo, California, has become the poster child for this thriving ecosystem. Its Nasdaq IPO—which reached a $10 billion valuation—made it the first India-born SaaS firm to trade on a US exchange. In a recent interview, Girish Mathrubootham, Freshworks’ CEO and cofounder, talks about the company’s journey and why he thinks this is the decade for India as a product nation. He also discusses what Indian and Western start-ups can learn from each other.
MORE ON MCKINSEY.COM Human capital at work: The value of experience | Skills acquired or used through work experience contribute a huge portion of people’s total wealth through their lifetimes. Yet not all companies are good at developing their people. Here’s how that can change. Getting strategy wrong—and how to do it right instead | Richard P. Rumelt, professor emeritus at UCLA Anderson School of Management, says that strategies are often a toxic mix of wishful thinking and incoherent policies. He believes that companies should understand the nature of a challenge before setting goals to correct it. The green business-building opportunity | Surging demand for zero-carbon technologies, materials, and services gives companies opportunities to build new green businesses. Leaders that move quickly could see exponential growth.
WHAT WE’RE DOING 20 years of McKinsey on Finance McKinsey on Finance’s first issue came out in summer 2001, when companies were still reeling from the dot-com crash—and only a few weeks before the world-shattering events of 9/11. In the decades since, readers have witnessed wars, financial crises, a global pandemic, a substantial decline in trust for some major institutions, and a heightened urgency about existential climate change. They have seen technological advances on an almost incomprehensible scale, millions of people lifted out of poverty, the dramatic rise of Asia, and stunning medical breakthroughs. What will the next 20 years bring? We don’t have a crystal ball. But we do have a compass: long-term value creation. We’ve studied, been challenged about, sharpened our thinking on, and ultimately reinforced our appreciation of core economic and financial principles, particularly as they apply through very uncertain times. It would be simplistic to say that enormous challenges lie before us, even when those challenges include developing innovation from within, comprehending new ideas, and navigating businesses through existential climate change. It is more correct to recognize that those challenges are already here. In this article, we look back at the past two decades and look forward to three challenges ahead. — Edited by Barbara Tierney Share this What We’re Doing
BACKTALK Have feedback or other ideas? We’d love to hear from you. Tell us what you think
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by "McKinsey Shortlist" <publishing@email.mckinsey.com> - 01:51 - 24 Jun 2022 -
Sales of electric vehicles have surged, but what will it take for EVs to go mainstream?
McKinsey&Company
The road ahead for EVs In the news • Fast, but not fast enough. Mobility accounts for around one-fifth of global carbon emissions—which means that ramping up electric-vehicle (EV) sales is critical in meeting net-zero targets. In 2021, global electric-car sales more than doubled, which translates to around one in 12 new cars sold. However, the electrification of transport isn’t happening fast enough. Roughly 16 million EVs are on the road today—just a fraction of the world’s 1.2 billion cars. To stay on track for global net-zero emissions by 2050, the world will need 250 million EVs on the road by 2030. [Economist] • Powering through. Despite supply chain issues and COVID-19-related disruptions, EV sales in China have generally stayed strong. At least four EV makers in China sold more than 10,000 vehicles in May 2022. One Chinese EV company sold more than 114,000 EVs, an increase of 8% from the previous month and 360% from the prior year. Additionally, more EVs that are made in China are now being exported to Europe. Europe’s EV market is attractive in part because of its existing charging network and EV-purchasing subsidies, analysts say. [Bloomberg] In China, the number of public charging stations would have to increase to around five million by 2030, when more than 100 million passenger EVs will be on the roads. On McKinsey.com • A rapid shift. The automotive industry is gearing up for a shift to electric. Since 2010, investors have spent $280 billion on auto hardware and software, with almost half of this investment going to EVs. Worldwide demand for EVs could grow sixfold from 2021 to 2030, with annual unit sales increasing to roughly 40 million, from 6.5 million, according to McKinsey research. However, the auto industry and related players must address three key issues, including better access to raw materials, before EV production and sales can scale accordingly. • A gigaeconomy. Building more gigafactories, the large facilities where most EV batteries are produced, is one way for the auto industry to scale more quickly. If worldwide EV demand grows as projected, the auto industry would need 200 new gigafactories—in addition to the 130 that already exist—by 2030. Accelerating the rollout of charging infrastructure would also help EVs go mainstream: by 2030, the US could need around 1.2 million public chargers to keep up with demand. A McKinsey Quarterly article describes how the auto industry could evolve. — Edited by Andrew Simon Charge ahead Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:52 - 24 Jun 2022 -
Why flexible work options matter: Six key points for employers
the Daily read
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
Fifty-eight percent of American employees—the equivalent of 92 million people—have had the option to work remotely at least one day per week, according to McKinsey’s 2022 American Opportunity Survey. And when given the option for flexible work arrangements, nearly 90 percent of workers embrace the opportunity. Indeed, remote work has changed not only how we work, but also what we look for in a job. So what do remote trends mean for the future of work? A new survey explores how flexible work fits into the lives of Americans across genders, sectors, and generations. Don’t miss out on the six key points employers need to know to keep pace with these changes. — Emily Adeyanju, digital editor, Charlotte 
Americans are embracing flexible work—and they want more of it The American Opportunity Survey illuminates how many people are offered the option to work from home, who works flexibly, and how they feel about it. Dive into the data 
Quote of the Day —Julien Saunders, creator of rich & REGULAR, a multimedia blog about financial independence, on giving income a purpose in a recent Author Talks interview
Chart of the Day 
See today’s chart
Also New 
Giving developers a leading role in cybersecurity Cyber-attacks are happening at such a breakneck pace that protecting against them increasingly starts when developers are first building software. Snyk has built a thriving business by providing the tools that enable this new approach to succeed at scale. Change your approach 
How technology is shaping learning in higher education New McKinsey research shows that students and faculty are eager to continue using new classroom learning technologies adopted during the pandemic, but institutions could do more to support the shift. Learn better
Quantum computing funding remains strong, but talent gap raises concern Our latest Quantum Technology Monitor shows industry interest remains strong, China is upping its game, and talent shortages require attention. Learn the latest trends
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Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:48 - 23 Jun 2022 -
Wrapping up June with Sangoma Partner News!
Wrapping up June with Sangoma Partner News!
June 2022
Notable News: What's New with Sangoma
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by "Sangoma Technologies" <webannounce@sangoma.com> - 04:16 - 23 Jun 2022 -
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Experience powerful creative tools. Your team has big ideas. They need the right creative tools to make those ideas a reality, growing their knowledge and skills in the process. In the second webinar of this three-part series, ‘New Tools to Expand Your Skillsets’ explore: ■ Why every organization should understand the business benefit of good design and creativity. ■ How innovative uses of 3D and immersive design are transforming entire industries. ■ How creative tools can enable your team to shorten time to value and increase technology ROI. 
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by "Adobe" <demand@info.adobe.com> - 02:26 - 23 Jun 2022 -
What’s next for the space economy?
McKinsey&Company
Venturing into space In the news • Sizing up cosmic opportunities. Space ventures mean a lot more than stargazing for industries, individuals, and governments. Since satellites play a crucial role in everything from forecasting the weather to monitoring power grids, access to space is likely to become ever-more essential for countries and companies. And geopolitical conflicts on Earth may shift to the skies as countries depend on satellite data for their tactical decisions. [Axios] • A deluge of debris. There’s plenty of junk in space: as much as 9,000 metric tons of it. Approximately 70% of that detritus—from satellite collisions, expended rocket stages, and other defunct endeavors—clutters low-Earth orbit (LEO). While the issue may seem miles away, the risk of celestial satellite crashes hits close to home. According to one space-mapping start-up, the probability that satellites will crash into “mission-terminating debris” has likely doubled. [FT] In 2021, private investment in space-related companies topped a record-breaking $10 billion. On McKinsey.com • Taking R&D into space. From telecom services to tourism, the space economy is booming. Over the past five years, commercial R&D spending within the space sector increased by 22% annually. In pharmaceuticals, beauty and personal care, food and nutrients, and semiconductors, expanding businesses into space could generate millions—or even billions—of dollars in revenue, McKinsey analysis suggests. R&D in microgravity, for example, could help manufacturers of skin-care products develop active ingredients, since microgravity makes it easier to combine substances. • Investment shifts. Over the past decade, more space investment has flowed to satellite-related and other ventures in LEO, such as space stations and space travel. LEO ventures still lead in funding, but the space industry is on the cusp of another shift, McKinsey research suggests. Investment is accelerating in “lunar and beyond” initiatives, including in mining and robotics. The latest Quarterly Five Fifty shows more ways that myriad industries can boost their businesses into space. — Edited by Sarah Thuerk Explore the space economy Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:39 - 23 Jun 2022 -
‘Find the smartest technologist in the company and make them CEO’
the Daily read
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
Curious about the future of technologies such as AI, crypto, and Web3, plus their implications for business? Get the lowdown from Marc Andreessen, leading Silicon Valley entrepreneur, inventor of the first popular Web browser, co-founder of legendary internet startup Netscape, and all-around tech provocateur. In a new McKinsey Quarterly interview, Andreessen shares his unique perspective on tech trends, the future of the internet, and how digital start-ups and big companies approach business and engineers differently. Check it out to get in the know. — Joyce Yoo, digital editor, New York 
‘Find the smartest technologist in the company and make them CEO’ Silicon Valley’s Marc Andreessen tackles tech trends like artificial intelligence, crypto, and Web3—and why incumbents still have a tough time competing with digital start-ups. Join the conversation
Quote of the Day “I think that it is very important for leaders of companies and specifically for founders—especially as they think about the type of company that they are creating—to include in their values the support for the communities around them and see how they can help those organizations.” —Guy Podjarny, cofounder, president, and chairman of Snyk, on advice he would give to budding entrepreneurs in a recent episode of the McKinsey on Start-ups podcast
Chart of the Day 
See today’s chart
Also New 
Advanced tech elevates process modeling in batch-processing industries In high-volume batch-processing industries, reliable models of manufacturing processes can help companies cut production costs while improving quality and performance. Be efficient
Author Talks: George Floyd’s America revisited Toluse Olorunnipa and Robert Samuels examine the life of the man whose death launched a worldwide movement: “We all have a responsibility to pay attention to people like George Floyd before they die under the knee of a police officer on video.” Don’t forget
Growth opportunities for digital health in KSA and UAE Digital health can improve patient services and well-being in the Kingdom of Saudi Arabia and the United Arab Emirates. The sector offers growth opportunities for existing players and new market entrants. Seize the opportunity
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Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too.
Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:37 - 22 Jun 2022 -
A new view of human capital
Re:think
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ON HUMAN CAPITAL
A new approach to keeping talent
Anu MadgavkarHuman capital is the knowledge, attributes, skills, experience, and health of the workforce, and it accounts for roughly two-thirds of an individual’s total wealth. Right now, people are fundamentally reconsidering what they want to do with their human capital—reassessing how they want to engage with work, who they want to work for, what kind of work they want to do, and on what terms they want to do it. So this is a critical moment for companies to reconsider the way they think about their employees’ human capital.
Typically, companies think about how to deploy human capital to create value for the company. But human capital is really possessed by workers, who are making decisions all the time to augment and enhance their human capital. Being at a company is just part of that journey. So companies that want to retain employees and make the most of their human capital would be wise to focus on human capital from the perspective of the individual. Thinking about how to enrich that individual’s journey can be a more promising frame of reference than thinking about, “How can I profit from these people?”
Our research shows that about half of what people earn during their lifetime is associated with the skills they gain through work. That’s a huge number. A lot of previous research has focused on the value of education, qualifications, and credentials as you enter the workplace. Those are important, but the decisions you make regarding the roles, the jobs, and the skills that you acquire through your work life will drive your earnings. That’s even more true for people who don’t enter the workforce with top credentials. For example, for tile setters or counter workers in the US, the value of the skills they develop at work is more like 65% to 75% of lifetime earnings.
If companies think about themselves as part of that human capital accumulation journey, they’ll change the kind of investments they make in and the opportunities they create for people. There are three key mind shifts to consider.75%
of the lifetime earnings of some workers lacking top entry-level credentials can be attributed to the skills they acquire on the job
The first shift is for companies to start assessing people based on their potential, not just based on success in their current role. We already know that workers are capable of great learning. New roles in the US typically involve 30% new skills, and workers who are upwardly mobile, who improve their compensation and earnings faster, typically take on roles that demand an average of 40% new skills. But companies often don’t act as if this is the case. Too often, they search for the perfect fit. That’s too bad: you’re not looking for a clone, you’re looking for somebody who has what it takes. Smart companies are already making big investments to assess people for their potential. Some tools are structured to evaluate, say, whether employees have a certain set of necessary tech skills. Others might look at patterns of behavior to assess whether the person is entrepreneurial and capable of stretching beyond their current role.
The second shift is for companies to embrace the idea of mobility. Companies should get on the better side of the change dynamic we’re seeing during the Great Resignation.
We see three ways companies can do this. First, embrace internal mobility. Some companies build the equivalent of a digital talent marketplace, a place where you can see how the skills that you have fit into different career pathways. Some even overlay this with career advisory support to help counsel workers wanting to find good paths to follow.
Second, be open to different kinds of mobility paths. Companies often think about mobility as very linear and vertical. But companies that focus on lateral movement create more opportunities for workers trying to build their human capital. Employees want the flexibility to decide, “Here’s an opportunity for me to learn something, even if it’s not a promotion that involves higher pay.”
Third, companies can embrace people who leave their job just as much as they embrace people who join the team. People who leave a company see a future. They’re investing in becoming great professionals. They could be good business partners, or even potentially a source of talent going forward. The more you celebrate such people the more you position yourself as an employer who helps make employees successful. Such companies become talent magnets.
The third mind shift is to double down on smart learning and training for workers. A lot of companies complain that they don’t see productivity gains commensurate with the amount they spend on training. We think companies need to focus more on learning that’s experience-based, anchored in people’s jobs. Structured training is very important when people need to pick up specific technical skills. But so much of what makes an employee successful is more likely to arise out of mentorship and apprenticeship. Apprenticeship is where employees really learn the soft skills that allow them to use their hard skills in work environments that are, let’s face it, fuzzy and unpredictable. And that, after all, is what we all really value in the human worker, as opposed to a machine.ABOUT THE AUTHOR
Anu Madgavkar is a partner in McKinsey’s New Jersey office.
MORE FROM THIS AUTHOR
The rise and rise of the global balance sheet: How productively are we using our wealth?
Net worth has tripled since 2000, but the increase mainly reflects valuation gains in real assets, especially real estate, rather than investment in productive assets that drive our economies.
Financial data unbound: The value of open data for individuals and institutions
Economies that embrace data sharing for finance could see GDP gains of between 1 and 5 percent by 2030, with benefits flowing to consumers and financial institutions.
IN TWO WEEKSSteve Van Kuiken on four tech trends that matter
As innovation moves to the edge of your company, the role of IT shifts dramatically—as does the CEO’s role in managing technology and innovation.
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This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to our Sustainability alert list. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Quarterly" <publishing@email.mckinsey.com> - 03:37 - 22 Jun 2022 -
Return to the office? Companies need to give workers a real reason why.
McKinsey&Company
The next-level office In the news • The great divide. After months of start-and-stop mandates to return to the office, some companies are finding that it doesn’t matter what they order their employees to do: many people will keep working from home, regardless of the rules. That’s inspired some organizations to go “remote first,” seeing it as a way to attract the best talent and keep employees happy. Other companies now consider an office buzzing with action to be such a rarity that it sets them apart and attracts gung ho workers. [NYT] • Hating the schlep. The office itself is not the problem: it’s getting to it. Eight of the ten major US cities with the steepest drops in office occupancy had one-way commutes that averaged more than 30 minutes before the COVID-19 pandemic. Economists and psychologists have long known that commuting is a major source of unhappiness; now that people have a way to avoid that misery, they’re holding onto it fiercely. Anticommuting sentiment is global, some observers say, with the emptiest offices being seen in commuter cities that force workers into traffic jams or crowded public transit. [WSJ] Strategically located workplaces that are built for purpose and integrated into corporate strategies, cultures, and operating models are more important than ever. On McKinsey.com • Raison d’être. Company leaders have traditionally viewed workplaces as cost centers, but this mindset is out of date. The new world of flexible work requires that companies consider workplaces as sources of competitive advantage. The key is to drill down on corporate strategy and determine how real estate can help further corporate goals. Instead of shunting office space decisions off to a siloed real-estate team, CEOs and executive teams should take over and drive the process. • Cutting-edge workplaces. McKinsey highlights three companies that are successfully marrying real estate to strategy. One of them, a biopharma giant, swam against the remote-work tide and doubled down on its headquarters. Top scientists were attracted to the company for the opportunity to work in cutting-edge labs, all wired with the latest collaboration technology. Read the full article for guidance on creating a workplace that provides a competitive edge, illustrated with photographs of state-of-the-art offices. — Edited by Katy McLaughlin Rethink real estate Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:17 - 22 Jun 2022 -
The metaverse could generate up to $5 trillion in value by 2030
the Daily read
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
While the world is still figuring out the metaverse and its role in our daily lives, one thing is certain: its potential is too big to ignore. Indeed, a new report on value creation in the metaverse finds it could generate up to $5 trillion in impact by 2030. But how do you navigate a space that’s still taking shape? Explore the research and download the full report, which draws on a survey of more than 3,400 consumers and executives, plus expert interviews and analysis. Prepare for what’s next with insight on the metaverse’s history and characteristics, investment flows, evolving consumer and business behavior—and what leaders should do to realize its value. Don’t miss this vital look at the real business of the virtual world. — Joyce Yoo, digital editor, New York 
Value creation in the metaverse With its potential to generate up to $5 trillion in value by 2030, the metaverse is too big for companies to ignore. Enter the metaverse
Quote of the Day “I hope that by outlining the people who were impacted by George Floyd’s death, we can also learn more about his life and learn more about how he struggled under the knee of the societal systems that we’ve created.” —Toluse Olorunnipa, a political enterprise and investigations reporter on systemic racial inequality in America, in a recent Author Talks interview
Chart of the Day 
See today’s chart
Also New 
As more Americans ask for public aid, could integrated benefits help? Public-health and human-services programs help more than 100 million Americans. States that better integrate these programs could increase access, improve outcomes, and reduce costs. Combine and condense
Three new mandates for capturing a digital transformation’s full value Most organizations achieve less than one-third of the impact they expected from recent digital investments. What can companies learn from the best performers about how to beat the odds today? Think differently
Accelerating toward net zero: The green business building opportunity Surging demand for zero-carbon technologies, materials, and services gives companies opportunities to build new green businesses. Leaders that move quickly could see exponential growth. Forge ahead
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:41 - 21 Jun 2022 -
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by "Kayla Gibbons, Tray.io" <kayla@tray.io> - 03:45 - 21 Jun 2022 -
The beauty industry could be more inclusive. How much might that be worth?
McKinsey&Company
The business of Black beauty In the news • Natural beauty. In film and television, Black characters are letting down their hair in curls, cornrows, puffs, and twists, flaunting the natural texture that was once frowned upon in Hollywood. Afro-textured hair has long played a central role in Black American identity, but it hasn’t always been celebrated by mainstream America. To combat negative stereotypes, Black people have often had to make others “more comfortable with their very presence” by emulating Eurocentric beauty ideals, as two university professors put it. [NYT] • Caring for textured hair. A big opportunity exists for hair care brands that can meet Black customers’ needs: Black consumers spent roughly $910 billion in 2019. But too often, they have to cope with inadequate beauty products or discrimination in stores. In skin care and makeup, innovative companies have found success by making inclusive products. But there’s a lack of hair care offerings that serve people with textured hair, says one well-known stylist who debuted her own hair care line in May 2022. [Vogue Business] Research suggests that 75% of Black beauty consumers can be persuaded to buy beauty products by ads that feature various skin tones across all races. On McKinsey.com • Out of stock. Black Americans spent $6.6 billion on beauty products in 2021. Yet Black consumers often have trying experiences within the beauty industry, despite being highly discerning. Nearly three-quarters of Black consumers said that Black beauty products were frequently out of stock where they shopped, a McKinsey survey revealed. At the same time, Black consumers were 44% more likely than their White peers to believe that quality trumped cost and 38% more likely to prefer brands that reflected their personal style. • Building Black brands. A majority of Black consumers said that they prefer to buy brands owned or founded by Black people, according to McKinsey research. But such businesses often face substantial barriers, including a lack of funding and representation, on their way to developing products and winning over consumers. By addressing racial inequity, the US beauty industry could add an additional $2.6 billion in revenue by 2025, the analysis finds. Explore how the beauty industry can better support Black brands and consumers. — Edited by Belinda Yu Serve Black consumers Was this forwarded to you? Sign up here. Or send us feedback — we’d love to hear from you. Follow our thinking This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:15 - 20 Jun 2022 -
Sumo Logic DevSecOps live demo series
Sumo Logic
You need a single-source, cloud-native solution for all your DevSecOps needs. Well, we’ve got good news: Sumo Logic can do that. We cordially invite you to our Live Demo Series where you can see how Sumo Logic optimises all your cloud environments for security, monitoring, analytics, software development and more.Cloud Security Monitoring and Analytics, June 21st at 12pm AEDT Learn how to: - Analyse risk through through context awareness of firewall, CDN, and database data
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Register Cloud SIEM, June 22nd at 12pm AEDT Learn how to: - Automate alert triage and turn security alerts into actionable insights
- Use correlation-based threat detection
- Enable network, user, and entity context for threat investigations
- Navigate a highly-tuned security interface built by analysts FOR analysts
Register Application Observability, June 28th at 12pm AEDT Learn how to: - Leverage out of the box tools to manage your microservices stack
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Register Software Development Optimization, June 29th at 12pm AEDT Learn how to: - Automate setup via Terraform for out of the box integrations across multiple software development tools (like Jira, GitHub, Jenkins, Bitbucket, PagerDuty, and OpsGenie)
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Register We look forward to you joining us for live demos with product experts. Feel free to let us know if you have any questions ahead of time.
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by "Sumo Logic" <marketing-info@sumologic.com> - 05:33 - 20 Jun 2022 -
MD, today's 🎙 webinar starts in less than 1 hour.
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- Practical insights to help employers and hiring managers find forcibly displaced talent
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- Practical guidance on how to overcome challenges when hiring refugee talent
- The state of refugee work rights around the world and the advocacy movement for right-to-remote-work
- Announcement about a new platform to help employers find vetted refugee talent
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by "Remote" <hello@remote-comms.com> - 03:02 - 20 Jun 2022 -
Harnessing anxiety and fear: A leader’s guide
Leading Off
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ESSENTIALS FOR LEADERS AND THOSE THEY LEAD
Anxiety and fear are universal experiences, and there’s plenty to be fearful and anxious about these days. The pandemic. The swings of the stock market. Changes in how—and where—we work. For leaders, it’s important to be able to parse what are real fears and what are anxieties to get a better handle on mental health and burnout. This week, let’s explore some productive ways to calmly help yourself and those you lead through these trying times. AN IDEA 
Harness your anxiety for good At face value, anxiety can seem like an inherently negative—and sometimes debilitating—emotion that we should avoid, but that doesn’t have to be the case. In this Author Talks interview, psychology and neuroscience professor Dr. Tracy Dennis-Tiwary explains how, with some mindset shifts, anxiety can go from feeling like a malfunction to serving as a useful tool. “When we listen to anxiety as information that’s energizing us, instead of frightening and depleting us, it helps us be more innovative and creative,” she says. In her book, Future Tense: Why Anxiety Is Good For You (Even Though It Feels Bad), she explores how we can work toward embracing anxiety as a human experience instead of pushing it away—which is more likely to cause it to spiral out of control. When we think of anxiety as an adaptive quality of resilience, we are better equipped to navigate it and to let go of anxieties that are not useful, including those that are unreasonable in proportion to the current situation or threat.
A BIG NUMBER 37% That’s the percentage of workplace respondents who reported experiencing anxiety in the past year, according to a 2020 study. Recent numbers from the World Health Organization show that anxiety and depression levels have increased by 25 percent globally since the start of the COVID-19 pandemic. As a leader, you can influence your team’s anxiety levels for better or worse. This Harvard Business Review series on managing in an anxious world explores how leaders can effectively face their anxiety and that of their teams in four stages: identifying how your anxiety manifests, taking steps to actively manage it, leading others in times of high anxiety, and building a support system of processes and people to manage it over the long term. As the authors say, “Anxiety is a powerful enemy, so we must make it our partner.”
A QUOTE “Dampening the anxiety that fuels distracting rumors requires explaining decisions in enough detail to convey that you, as a leader, are treating the people affected with nuance and care.” That’s Hayagreeva “Huggy” Rao and Robert Sutton, management experts and professors at the Graduate School of Business at Stanford University. In times of extreme uncertainty, they say, leaders can help their teams move “from a room called fear to a room called hope” by focusing not only on making the right decisions but also on doing the “emotion work” to frame and implement them in the right way. By exhibiting understanding and extending a feeling of control, leaders can anticipate and manage the psychological responses of others, including anxiety and despair, in difficult times.
A SPOTLIGHT INTERVIEW 
What lessons can an NFL trainer, gym founder, and creator of the Afghan Women’s Boxing Federation impart about fear? In this Author Talks interview, Tareq Azim describes fear not as something to “get out of our systems” but rather as an empowering tool that we can use to set intention and responsibility in our lives, whether it’s on the field or in the workplace. “Fear is what makes us conscious,” Azim says. “Fear brings nerves. Nerves happen to lead us to being extremely mindful of our capabilities.” Nerves can paralyze people into inaction, but Azim teaches those he coaches to use their nerves—and the heightened level of consciousness they fuel—to thoughtfully prepare and act because “fear is actually designed for us to achieve things.”
FEAR FACTOR 
According to a recent McKinsey survey, 85 percent of executives believe fear holds back innovation efforts at their organizations. Furthermore, 90 percent of companies aren’t doing anything about it. McKinsey research unveils that corporate innovation is stifled primarily by three types of fear: fear of criticism, fear of uncertainty, and fear of negative career impact. Just as leaders focus on systems and initiatives that stimulate idea generation and risk taking, they must also develop a culture that both considers individuals’ emotional experiences at work and allays the fears that will hold their teams back. Lead by managing anxiety and fear. — Edited by Dana Sand, an editorial production manager in McKinsey’s Cleveland office
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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:08 - 20 Jun 2022 -
Empower your team with immersive creative tools
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by "Adobe" <demand@info.adobe.com> - 01:13 - 20 Jun 2022 -
Top 5 podcast episodes
McKinsey&Company
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New from McKinsey & Company Top 5 podcast episodes Need something to listen to on your next road trip or commute? Check out our top 5 podcast episodes of all time, featuring epsiodes from The McKinsey Podcast and Inside the Strategy Room. Subscribe for the latest episodes on your favorite podcast platforms, and keep your ear to the ground for more on the business and management issues that matter. 
How to master the seven-step problem-solving process Structured problem solving can be used to address almost any complex challenge in business or public policy. Adapt your approach
Blockchain explained: What it is and isn’t, and why it matters Understanding how blockchain creates business value is essential for companies to identify the right use cases and move beyond small pilots to widespread adoption. Tune in
What is the future of work? A new podcast series from the McKinsey Global Institute explores how technologies like automation, robotics, and artificial intelligence are shaping how we work, where we work, and the skills we need to work. What's next
Meet Generation Z: Shaping the future of shopping The newest consumer generations—Gen Z and millennials—are upturning retailers’ expectations. Here’s how—and what to do about it Prepare for shifts
Microsoft’s next act CEO Satya Nadella talks about innovation, disruption, and organizational change. Confront digital disruption
— Curated by Eleni Kostopoulos, a digital publishing manager in New York
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by "McKinsey & Company" <publishing@email.mckinsey.com> - 06:22 - 19 Jun 2022 -
The week in charts
the Daily read
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ALL THE WEEK’S DATA THAT'S FIT TO VISUALIZE
Our Charting the path to the next normal series offers a daily chart that helps explain a changing world—as we strive for sustainable, inclusive growth. In case you missed them, this week’s graphics explored racial disparities in perceived quality of healthcare, career advancement for working mothers, the values of dairy-product shoppers, ESG concerns, and advanced recycling. FEATURED CHART Race and quality of care 
See more
This week’s other select charts Careers constrained Two scoops of ethical ice cream, please Value and values Ramping up recycling
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Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here.This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to The Week in Charts newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:46 - 18 Jun 2022
