ICYMI: Boardrooms will rediscover the value of gray hair
There’s a fine line between prizing expertise and entrenching boomer privilege. But fresh-faced innovators made a particularly poor showing in 2022. The poster child foris likely to be 30-year-old Sam Bankman-Fried, whose cryptocurrency exchange FTX collapsed in spectacular fashion in November, leaving billions of dollars of customers’ money unaccounted for and financial backers like Sequoia Capital in the doghouse.
Theranos founder Elizabeth Holmes was sentenced to more than 11 years in prison, while Meta PlatformsIn 2023, experience ought to be at a premium as low inflation and bull markets end. Money markets are pricing in U.S. rates of 5% by the summer. Last time they hit that level in 2007, fintech wasn’t a word, and one-third of today’s U.S. workforce was 19 or younger.