When multiple streaming services produce documentaries and miniseries about your business practices (see Fyre Festival, Beanie Babies, and Theranos), it’s probably not a good sign. WeWork founder Adam Neumann is also part of this dubious club judging from Apple TV+’s WeCrashed and Hulu’s WeWork: Or the Making and Breaking of a $47 Billion Unicorn.
But the coworking space real-estate brand ousted Neumann in 2019, implemented a turnaround plan, and successfully went public. Unfortunately, it might not be enough. WeWork has expressed “substantial doubt” that it will remain in business, losing almost $350 million in Q2.
However, if your business uses WeWork, don’t worry; you won’t be evicted tomorrow. The company will attempt yet another turnaround “with a laser focus on member retention and growth,” interim CEO David Tolley told investors — but maybe enjoy the free coffee while you still can.
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Is the Cold War Over Your Office’s Thermostat Cooling Morale?
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It’s the hottest summer in 120,000 years; so why are you wearing a sweater at work?
The office thermostat debate is nothing new. Air conditioning standards were set back when men dominated the workforce, but women tend to prefer it warmer for physiological reasons. A 2015 study in the scientific journal Nature Climate Change found that the common workplace A/C formula “may overestimate resting heat production of women by up to 35 percent,” and Cornell University researchers found that a too-low temperature harshly impacts productivity.
On the other hand, male workers perform best at under 70 degrees, according to a 2019 USC study. Turning the thermostat above 80, which increases female workers’ performance, might be counterproductive in the other direction.
This tug of war (or tug of warmth) has been a stalemate for years. With 2023’s relentless heat waves, however — especially as the return to office continues apace — constant discomfort at home and at work might be testing some workers’ ability to stay chill. TikTokers are even referring to summer as “women’s winter” due to more intense summertime A/C levels.
Here are a few tips to assuage tensions:
- Ask your employees what they want. Everybody will have a different personal ideal temperature, regardless of gender, but you might be able to find a happy medium. Start the conversation to determine a compromise.
- Expand your dress code. If there’s any time to bend the rules, it’s during extreme temperature swings. Allow for lighter wear and shorts, blankets and hats, or whatever else might make the heat (or cold) more bearable.
- Provide individual space heaters. They might raise your electric bill, sure, but you could save on retention costs.
- Swap seats. Desks by vents might be cooler in the summer and warmer in the winter; desks by windows might be the opposite. If employees agree to play musical chairs on their own, nobody will feel hot and bothered or get the cold shoulder.
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How to Overcome the Scourge of Confirmation Bias
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Dr. Steven Rogelberg is a chancellor’s professor at UNC Charlotte, former president of the Society for Industrial and Organizational Psychology, and author of Glad We Met: The Art and Science of 1:1 Meetings.
Confirmation bias is our tendency to gather and remember information that reinforces our existing perspectives. We often reject contrary information out of hand.
In our personal life, this can manifest in viewing news sources that never challenge what we already believe (and only engaging with people who share our worldviews). In our work life, it can lead to making decisions with one-sided, incomplete, or inadequately vetted information.
Unfortunately, confirmation bias can’t really be eliminated, but here’s how you can manage it with attention and diligence:
- Acknowledge we’re all susceptible. No matter how enlightened we consider ourselves, this bias is waiting to derail us. Actively commit to work against it.
- When gathering information, interact with diverse sources and ask a wide range of questions. Getting out of our echo chambers can feel uncomfortable, and that is OK; own it and get used to it as you challenge your perspectives and seek the truth.
- Evaluate your sources of information. Do they have a track record of accuracy and high-quality standards? Are meaningful evidence and citations provided? Are facts differentiated clearly from opinions?
- Ask those around you to find fault with your ideas so that you can make better decisions.
- Build a culture where this is valued and appreciated. Be an example that others may follow in creating a grounded, informed workforce and society.
Here are more forms of unconscious bias you may be guilty of.
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Zach Galifianakis’ Comedy The Beanie Bubble Shows Hype Meeting Reality
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Barbie isn’t the only toy-based, pink-drenched popcorn flick with a message this summer.
As mentioned in our intro, Apple TV+’s The Beanie Bubble depicts the rise and fall of Beanie Babies, those (under-)stuffed animals with heart-shaped tags that were truly the cryptocurrency of the 1990s. In fact: a speculative gray market developed around them; parents poured their savings into Beanies for college funds; and couples argued over custody of the collectibles in divorce court.
But today, many sell for less than a dollar on eBay.
The film stars Zach Galifianakis as egocentric Ty Inc. CEO Ty Warner, who leeches credit from his female employees and manipulates his products’ valuations to unsustainable levels. “Genius is 1% inspiration, 99% presentation,” he says in one example of buying his own hype. (The real-life Warner ultimately paid $53 million for tax evasion.)
For long-term customer engagement, focusing on a great product or experience is probably more sustainable than encouraging panicked, speculative hoarding. While Beanie Babies are a nostalgic punchline today, other breakout brands from the same era — like Amazon, Starbucks, and Gap — transcended fad status and became mainstays by focusing on, well, inspiration. Come to think of it, so did Barbie.
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On Aug. 11 in Business History
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- 1896: Harvey Hubbel had a bright idea … and patented the electric light bulb socket with a pull chain.
- 1950: Apple cofounder Steven Wozniak (aka “Woz”) was born.
- 1973: Hip-hop was born at DJ Kool Herc’s block party in the Bronx. Fifty years later, the genre is a multibillion-dollar industry that dominates radio, streaming, and album sales globally.
- 1992: The Mall of America, the largest shopping center in the U.S., opened its doors. Encompassing 4.8 million square feet, the mall sees about 40 million guests each year. Who says retail is dead?
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Written by Ali Saleh and Dan Ketchum. Comic by John McNamee.
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