Data points

Published September 19, 2022
German Minister of Economics and Climate Protection Robert Habeck (L) and German Chancellor Olaf Scholz address a press conference last week at the Chancellery in Berlin, after the government announced it took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted after Moscow invaded Ukraine.—AFP
German Minister of Economics and Climate Protection Robert Habeck (L) and German Chancellor Olaf Scholz address a press conference last week at the Chancellery in Berlin, after the government announced it took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted after Moscow invaded Ukraine.—AFP

Abs — the new status symbol

Recently, Amazon billionaire Jeff Bezos flashed biceps that stretched his T-shirt. Celebrity talent agent Ari Emanuel romped on Elon Musk’s yacht with ripped abs in full view. On Instagram, video gaming executive Strauss Zelnick posed in skin-tight purple spandex and Telegram chief executive Pavel Durov stood bare-chested in an infinity pool next to the caption, “Should I start posting photos here more often?” The latest power move for middle-aged men: looking like an ad for protein powder. Maybe two years of remote work allowed business leaders to redirect their mogul energy into exercise. Or perhaps their muscle-bound peacock preening reflects a new stage of life — Bezos, 58, is in a paparazzi-covered romance, and Emanuel, 61, is newly remarried to a fashion designer. Or it could just be a competitive midlife impulse, a desire to look better than the next guy facing the same old age. Whatever the reason, the shred has become a 2022 corporate status symbol.

(Adapted from “Yachts and Watches? The Real CEO Flex Is Washboard Abs,” by Ellen Gamerman, published on September 3, 2022, by The Wall Street Journal)

Business as usual in Moscow

Despite Russia’s ongoing invasion of Ukraine, very little about day-to-day life seems to have changed in Moscow. People in the capital have the financial resources to weather significant price increases, unlike much of the rest of the country. “Nothing has really changed,” said Nataliya Nikonova, 44, who recently attended a Russian military celebration in Moscow. “Sure, the prices went up, but we can endure that.” Detachment from war is exactly what President Vladimir Putin is counting on as he seeks to shield Russians from the hardships of war — no draft, no mass funerals, no feelings of loss. The luxury mall next to Red Square is full of shoppers, and restaurants and theatres are thriving. While maintaining a sense of normalcy, Putin is also working to militarise Russian society further. Along Moscow’s artery roads are billboards of soldiers listing their rank and title with a QR code to scan for more information. And there is no shortage of events celebrating Russia’s military might.

(Adapted from “Nothing Has Really Changed: In Moscow, The Fighting Is A World Away,” published by Valerie Hopkins, published on September 6, 2022, by The New York Times)

Work + travel

If you’re finding it tough to work remotely while on the road, your best bet is to put some practices into place to keep yourself organised and your performance on track. Define what you want to get out of your travels — and out of your job. The more well-thought-out your goals are, the less friction you’re likely to encounter. Know where you’ll be and what you’ll be doing the whole time you’re travelling. How much time do you need between transitioning workspaces? Will there be a place to charge your laptop? Overcommunicate with your manager and colleagues. Be respectful and honest. Communicate your availability and average response times well in advance and on multiple media channels. Hold yourself accountable for meeting expectations. Keep yourself focused by travelling with all the accountability tools you need. These can include business operating system tools, project management solutions, and reliable devices. Make sure you’re able to update everything regularly and track your progress.

(Adapted from “How to Work and Travel at the Same Time,” by Pam Kosanke, published by HBR Ascend)

Influencer empires

Kim Kardashian and a former partner at Carlyle Group are launching a new private-equity firm focused on investing in and building consumer and media businesses. Kardashian is teaming up with Jay Sammons, who ran consumer investing at Carlyle, to launch SKKY Partners. SKKY will invest in sectors including consumer products, hospitality, luxury, digital commerce and media as well as consumer-media and entertainment businesses. Kardashian has steadily grown her own business empire in recent years. In January, the undergarment and apparel business she started in 2019, Skims, was valued at $3.2bn. The company raised $240 million at that time in a funding round led by Lone Pine Capital. This year she launched a skin-care line, SKKN BY KIM, a nine-product collection. SKKY plans to make both control and minority investments in companies. Kardashian said the idea of working closely with entrepreneurs to help them grow companies attracted her to the idea of starting SKKY.

(Adapted from “Kim Kardashian’s Newest Business Venture: Private Equity,” by Laura Cooper, published on September 7, 2022, by The Wall Street Journal)

Published in Dawn, The Business and Finance Weekly, September 19th, 2022

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