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Good morning.<\/strong> For companies leaning into AI, what\u2019s the value of the human<\/em> resources function? For Bolt CEO Ryan Breslow, the answer is nada. As he told attendees at Fortune\u2019s Workforce Innovation Summit this week, \u201cWe got rid of our HR team.\u201d<\/p>\n To be fair, Breslow eviscerated HR \u00a0last year along with thousands of other employees when he returned to the CEO role. The fintech firm he\u2019d cofounded in 2014 had dropped from an $11 billion valuation in 2022 when he first stepped down to a reported value of about $300 million two years later. It went from a \u201cpeacetime\u201d headcount of 2,500 to what he now calls a \u201cwartime\u201d footing of around 100 people.\u00a0<\/p>\n While Breslow reports his company is better off without HR, I\u2019d argue the art and science of managing humans is more important than ever\u2014and it\u2019s also evolving fast. I recently spoke to Himanshu Palsule, the CEO of Cornerstone OnDemand, a learning and talent software company. With 140 million users and 7,000 enterprise customers who are taking a hard look at their own HR spend, Palsule has a vested interest in the conversation. But I\u2019m impressed by the agentic platform it launched yesterday that leverages AI to help assess, train, and mobilize employees. \u201cPeople will enable agents to take over the enterprise,\u201d he told me at a customer event in New York. \u201cIf you lose your people, those agents aren\u2019t doing anything in your company\u2014they\u2019re just creating chaos.\u201d Other thoughts:<\/p>\n On Gen Z:<\/strong> \u201cThe greatest irony of our time is we are leaving out a generation that\u2019s most skilled to do AI. We have to make room for that generation if we want AI to thrive within a company. We dismiss them, like they\u2019ve done something wrong. These are people we asked to grow up digitally different. We shoved an iPad in their hands at 3 and 4 years old.\u201d<\/p>\n On \u2018knowledge\u2019 workers:<\/strong> \u201cThe corpus of knowledge that you have is going to be far outpaced, but you can use that to create value and differentiate. My tax agent now gives me wealth advice because his tax work is automated. Everyone\u2019s going to be the world\u2019s greatest coder. However, your ability to build products, use judgment, use inference, use delight in how you bring it to market\u2014that is never going to go away.\u201d<\/p>\n On leadership in the AI era:<\/strong> \u201cBe very clear and set board expectations on what success looks like\u2014and sometimes educate them on what the challenges are going to be. Explain to your people that their jobs are changing. There will be reductions in force. Don\u2019t hide from them\u2014but at the same time, enable them to be successful. Get the humility to understand that your 10, 30, 40 years of experience is important but may not be relevant at the pace of change. Be a constant learner.\u201d<\/p>\n CEO Daily is taking Memorial Day off and will be back in your inbox on Tuesday. Enjoy the weekend!<\/em><\/p>\n Contact CEO Daily via Diane Brady at diane.brady@fortune.com<\/em><\/p>\n Meta\u2019s massive layoffs<\/b><\/p>\n Meta <\/span>laid off<\/span> 10% of its workforce this week with reports indicating that another 7,000 were moved to AI-focused roles as part of the reorg. \u201cAI is the most consequential technology of our lifetimes,\u201d CEO Mark Zuckerberg said in a memo to employees, which also stated that \u201csuccess isn\u2019t a given.\u201d<\/span><\/p>\n McKinsey partner\u2019s AI warning\u00a0<\/b><\/p>\n Up to 50% of work hours <\/span>could be reshaped<\/span> by AI within the next few years, McKinsey partner Anu Madgavkar warns. She argues the shift will reward workers who can pair uniquely human skills like judgment and communication with AI tools to boost their impact.<\/span><\/p>\n SpaceX IPO as a distraction\u00a0<\/b><\/p>\n Analysts say a blockbuster SpaceX IPO <\/span>could hurt Tesla\u2019s stock<\/span> by siphoning off Musk?obsessed retail investors who have long supported its rich valuation. They also worry Musk\u2019s focus may shift further toward SpaceX just as Tesla faces stiffer competition and pressure to deliver on its AI and robotaxi promises.<\/span><\/p>\n S&P 500<\/b> futures are up 0.21% this morning. The last session closed up 0.17%. <\/span>The<\/b> STOXX Europe 600<\/b> was up 0.52% in early trading. <\/span>The U.K.\u2019s FTSE 100<\/b> was up 0.42% in early trading.<\/span> Japan\u2019s Nikkei 225 <\/b>was up 2.68%.<\/span> South Korea\u2019s KOSPI <\/b>was up 0.41%.<\/span> China\u2019s CSI 300 <\/b>was up 1.30%.<\/span> Hong Kong\u2019s Hang Seng <\/b>was up 0.86%.<\/span> India\u2019s NIFTY 50 <\/b>is up 0.36%. <\/span>Bitcoin<\/b> was down at $77K.<\/span><\/p>\n The Midwest is leading America\u2019s spring housing rebound because of \u2018buyers who are actually showing up,\u2019 Realtor.com says<\/span> by Sydney Lake<\/span><\/p>\n Your \u2018flexible hot girl summer\u2019 is going to cost you<\/span> by Catherina Gioino<\/span><\/p>\n A Nobel economist figured out 60 years ago that people learn best on the job. The Atlanta Fed says AI is making that almost impossible<\/span> by Tristan Bove<\/span><\/p>\n Jeff Bezos wants the bottom half of earners to pay zero income tax\u2014he says nurses making just $75K should save $12K a year<\/span> by Preston Fore<\/span><\/p>\n CEO Daily is curated and edited by Joseph Abrams, Jason Ma, Claire Zillman, and Lee Clifford.<\/p>\n<\/div>\n #Bolts #cofounder #killed #departmentthis #CEO #people #management #key #thriving<\/p>\n","protected":false},"excerpt":{"rendered":" Good morning. For companies leaning into AI, what\u2019s the value of the human resources function? For Bolt CEO Ryan Breslow, the answer is nada. As he told attendees at Fortune\u2019s… <\/p>\n","protected":false},"author":1,"featured_media":3515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[5782,369,1411,752,5784,510,5783,567,469,3009],"class_list":["post-3514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-bolts","tag-ceo","tag-ceo-daily","tag-cofounder","tag-departmentthis","tag-key","tag-killed","tag-management","tag-people","tag-thriving"],"_links":{"self":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/3514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3514"}],"version-history":[{"count":0,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/3514\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/media\/3515"}],"wp:attachment":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\nTop leadership news<\/h3>\n
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