Inspiring and thought-provoking conversations with leading thinkers about influential ideas on business, technology, economics, and science. Hosted by Nikolaus Lang, Martin Reeves, and Philipp Carlsson-Szlezak. For more ideas and inspiration, sign up to receive BHI INSIGHTS, our monthly newsletter, and follow us on LinkedIn and X.


Thinkers & Ideas

In <a href="https://www.amazon.com/How-Be-Bold-Surprising-Everyday/dp/0063394812" rel="noopener noreferrer" target="_blank">How to Be Bold: The Surprising Science of Everyday Courage</a>, <a href="https://ranjaygulati.com/" rel="noopener noreferrer" target="_blank">Ranjay Gulati</a> argues that being bold is something you can learn—not a trait you have to be born with.Gulati, a professor at Harvard Business School, is a leading organizational sociologist and management scholar. In his new book, he explores the science and psychology of courage—showing that bravery is not the absence of fear, but the mastery of it.In his conversation with Adam Job, senior director at the BCG Henderson Institute, he discusses the difference between uncertainty and risk, strategies for building courage at the individual and corporate level, and why we shouldn’t be worried about boldness leading to excessive risk-taking.Key topics discussed:00:58 | The definition of courage05:11 | Boldness and excessive risk-taking06:34 | Strategies for building courage as an individual14:51 | The power of sense-making18:16 | Risk management systems21:13 | How to build a culture of courage31:40 | One thing executives should do differentlyAdditional inspirations from Ranjay Gulati:<ul><li><a href="https://www.amazon.com/Deep-Purpose-Heart-High-Performance-Companies/dp/0063088916" rel="noopener noreferrer" target="_blank">Deep Purpose: The Heart and Soul of High-Performance Companies</a> (Harper Business, 2022)</li></ul>

How to Be Bold with Ranjay Gulati

In <a href="https://www.amazon.com/Land-Trap-History-Worlds-Oldest/dp/0593719719" rel="noopener noreferrer" target="_blank">The Land Trap: A New History of the World’s Oldest Asset</a>, <a href="https://mediadirectory.economist.com/people/mike-bird/" rel="noopener noreferrer" target="_blank">Mike Bird</a> shows why land remains the ultimate currency of power.Bird is the Wall Street editor at The Economist, where he leads coverage across the American financial industry and cohosts the magazine’s flagship podcast <a href="https://www.economist.com/audio/podcasts/money-talks" rel="noopener noreferrer" target="_blank">Money Talks</a>. In his new book, he presents a bold new framework explaining how land exerts influence over the modern world, shaping housing, banking, and geopolitics.In his conversation with Nikolaus Lang, global leader of the BCG Henderson Institute, Bird discusses the history of land usage and ownership, how land is related to modern economic crises, and different governance models for land.Key topics discussed:&nbsp;01:01 | What makes land unique, and why is it a trap?04:58 | The history of land ownership11:38 | The relation between land and economic crises16:00 | The role of “superstar cities”19:08 | How land could be governed23:36 | Business implications of land

The Land Trap with Mike Bird

In <a href="https://www.amazon.com/SuperAdaptability-How-Thrive-Age-Uncertainty/dp/3111575128" rel="noopener noreferrer" target="_blank">SuperAdaptability: How to Transcend in an Age of Overwhelm</a>, <a href="https://www.linkedin.com/in/maxmckeown/" rel="noopener noreferrer" target="_blank">Max McKeown</a> argues that the key to thriving under uncertainty is adaptability—being able to change with your environment, again and again, getting better each time.McKeown is a leading strategy thinker, coach to Fortune 100 companies, and an award-winning author. In his new book, he reveals how figures as different as Frida Kahlo, Leonardo da Vinci, and Simone Biles all relied on the same pattern of thinking to adapt to radically changing circumstances.In his conversation with Adam Job, senior director at the BCG Henderson Institute, he discusses the difference between adaptability and resilience, and how to scale adaptability from one person to a team to an entire organization.Key topics discussed:&nbsp;01:14 | The power of adaptive intelligence03:03 | Adaptability vs. resilience05:15 | The RUN loop: Recognize, understand, necessary action09:08 | How to help others become more adaptable11:57 | How to make your company more adaptable16:19 | Applying the loop logic to innovation23:56 | Real life stories of adaptability29:23 | Bringing adaptability to life with illustrationsAdditional inspirations from Max McKeown:<ul><li><a href="https://www.amazon.com/Strategy-Book-Max-Mckeown-ebook/dp/B0DH7HYL21?dib=eyJ2IjoiMSJ9.ziA7wqYjzhB1otJx_K9sl6HA-A4ny2uGywRa_dLuwKTf4MU-Gh0ULIPRtuJQxPh5pbm7QBesIZxUxh-suWzY2Jx9CxzAUwXdrXaEo-UNVVAI2mjwCtXSCtcSHVIIzssEwkKbkV43FzL2--KqrgMEeu_sUpRUtAkDzoVVud-e7pfp3b3gccHFrd1lc4lsHDDRnK0LQPWInMrAVHWic_rjoTcCLoV9bjtmtQxz4fB23qc.Vx-862w6hff8k2ut8Zy1X1n9i8mcVWUAoUQe1QEoN2I&dib_tag=AUTHOR" rel="noopener noreferrer" target="_blank">The Strategy Book: How to Think and Act Strategically to Deliver Outstanding Results</a> (FT Publishing International, 2024)</li></ul>

SuperAdaptability with Max McKeown

In <a href="https://www.amazon.com/Capitalism-Its-Critics-India-Company/dp/0374601089" rel="noopener noreferrer" target="_blank">Capitalism and Its Critics: A Battle of Ideas in the Modern World</a>, <a href="https://www.newyorker.com/contributors/john-cassidy" rel="noopener noreferrer" target="_blank">John Cassidy</a> offers a multi-century history of global capitalism, told through the eyes of its dissenters.Cassidy is a staff writer at The New Yorker and a Pulitzer Prize finalist. His new book blends biography, history, and economic analysis to reveal the roots of urgent debates the business world and society face today, as AI, climate change, and inequality are forcing us to reexamine the economic system.In his conversation with Nikolaus Lang, global leader of the BCG Henderson Institute, Cassidy discusses the main historical themes of capitalism critique, why the system continues to endure, how it is being, and what its future may be in the current context of assaults on the system from both the political left and right.Key topics discussed:&nbsp;01:44 | The main themes of capitalism critique04:17 | Why capitalism endures09:15 | The paradox of state capitalism14:21 | The misunderstood Luddites19:09 | Trade tensions and global economic asymmetry24:45 | The role of unpaid domestic labor in driving the capitalist system28:50 | The most surprising insights in writing the book31:33 | The future of capitalismAdditional inspirations from John Cassidy:<ul><li><a href="https://www.amazon.com/dp/0060008806/?ots=1&slotNum=1&imprToken=1abfa850-ab8c-5033-cbf&tag=thneyo0f-20" rel="noopener noreferrer" target="_blank">Dot.Con: The Greatest Story Ever Sold</a> (Harper, 2022)</li><li><a href="https://www.amazon.com/dp/0312430043/?ots=1&slotNum=0&imprToken=1abfa850-ab8c-5033-cbf&tag=thneyo0f-20" rel="noopener noreferrer" target="_blank">How Markets Fail: The Logic of Economic Calamities</a> (Picador, 2010)</li></ul>

Capitalism and its Critics with John Cassidy

In <a href="https://www.amazon.com/Warhead-How-Brain-Shapes-War/dp/1250286875" rel="noopener noreferrer" target="_blank">Warhead: How the Brain Shapes War and War Shapes the Brain</a>, <a href="https://www.intelligentbiology.co.uk/nicholas-wright" rel="noopener noreferrer" target="_blank">Nicholas Wright</a> argues that war and competition are rooted in human biology—in our drives for survival, fairness, territory, and belonging.Wright is a neuroscientist who researches the brain, technology, and security at University College London; Georgetown University; and the Center for Strategic and International Studies in Washington, DC, where he also advises the Pentagon. In his new book, he explores how each region of the brain is linked to a certain dimension of conflict—explaining why war seems inevitable, yet also why peace is possible.In his conversation with Nikolaus Lang, global leader of the BCG Henderson Institute, he discusses why neuroscience is a powerful lens to understand conflict, how it helps military leaders make decisions, and why we need to give AI a prefrontal cortex to ensure it makes wise decisions in conflict situations.Key topics discussed:&nbsp;01:27 | Neuroscience as a lens to understand conflict04:10 | The role of prediction error in the psychology of war07:29 | The clash between the amygdala and prefrontal cortex12:46 | How AI and its interaction with humans may influence the future of conflict18:55 | How neuroscience insights help military leaders make decisions22:13 | Training political and business leaders based on neuroscience insights

Warhead with Dr. Nicholas Wright

In <a href="https://www.amazon.com/After-Spike-Population-Progress-People/dp/1668057336" rel="noopener noreferrer" target="_blank">After the Spike: Population, Progress, and the Case for People</a>, <a href="https://deanspears.net/" rel="noopener noreferrer" target="_blank">Dean Spears</a> and <a href="https://mikegeruso.com/" rel="noopener noreferrer" target="_blank">Michael Geruso</a> argue that the defining demographic risk of this century is global depopulation.Spears and Geruso are both professors at the University of Texas at Austin, focusing on economic demography and development economics. In their new book, they explore the trend of falling birth rates, how it threatens human progress, and what actions may reverse this trend.In their conversation with Nikolaus Lang, global leader of the BCG Henderson Institute, they discuss projections for global depopulation, why advances in AI and robotics will not replace humans, why fewer people may not be good for the planet, and what the implications of all this are for business leaders.Key topics discussed:01:06 | Projected global population levels06:11 | The impact of depopulation11:00 | The potential for AI and robotics to replace humans17:00 | The environmental implications of depopulation21:24 | Potential solutions to falling birth rates26:02 | Implications for business leaders28:26 | Reasons to remain hopefulAdditional inspirations from Dean Spears:<ul><li><a href="https://www.barnesandnoble.com/w/air-dean-spears/1131617979" rel="noopener noreferrer" target="_blank">Air: Pollution, Climate Change and India's Choice Between Policy and Pretence</a> (Harper Collins Publishers India, 2019)</li><li><a href="https://www.barnesandnoble.com/w/where-india-goes-diane-coffey/1126612971" rel="noopener noreferrer" target="_blank">Where India Goes: Abandoned Toilets, Stunted Development and the Costs of Caste</a>, co-authored by Diane Coffey (Harper Collins Publishers India, 2017)</li></ul>

After the Spike with Dean Spears and Michael Geruso

In <a href="https://www.amazon.com/How-Progress-Ends-Technology-Innovation/dp/0691233071" rel="noopener noreferrer" target="_blank">How Progress Ends: Technology, Innovation, and the Fate of Nations</a>, <a href="https://www.carlbenediktfrey.com/" rel="noopener noreferrer" target="_blank">Carl Benedikt Frey</a> argues that progress, throughout history, has not just depended on technological innovations but also on the flexibility of our institutions.Frey is the associate professor of AI & Work at the University of Oxford, where he directs the Future of Work program. In his new book, he explores how technological progress has unfolded throughout history, from the Qin Dynasty to Silicon Valley. He argues that progress is always fragile, resting on achieving a delicate balance between decentralized innovation and centralized scaling of new technologies.In his conversation with Adam Job, senior director at the BCG Henderson Institute, he discusses how to achieve institutional flexibility, the hurdles we must overcome to turn AI into progress, and what lessons history holds for business leaders looking to navigate the conundrum of innovating versus scaling.Key topics discussed:&nbsp;01:15 | The fragility of progress05:35 | The role of decentralization and centralization11:24 | How to achieve institutional flexibility17:29 | The hurdles to overcome for turning AI into progress21:04 | How business leaders can navigate the conundrum of innovating vs. scaling25:00 | Why progress might not yet endAdditional inspirations from Carl Benedikt Frey:<ul><li><a href="https://www.amazon.com/Technology-Trap-Capital-Labor-Automation/dp/069117279X" rel="noopener noreferrer" target="_blank">The Technology Trap: Capital, Labor, and Power in the Age of Automation</a> (Princeton University Press, 2019)</li></ul>

How Progress Ends with Carl Benedikt Frey

In <a href="https://www.amazon.com/Anointed-Extraordinary-Effects-Social-Winner-Take-Most/dp/166800187X" rel="noopener noreferrer" target="_blank">Anointed: The Extraordinary Effects of Social Status in A Winner-Take-Most World</a>, <a href="https://haas.berkeley.edu/faculty/stuart-toby/" rel="noopener noreferrer" target="_blank">Toby Stuart</a> dives deeply into the power that social status holds over us.Stuart is the Leo Helzel Chair in Entrepreneurship and Innovation at UC Berkeley’s Haas School of Business. In his new book, he explores how social status shapes everything—from who we trust and what we value, to which ideas and innovations change the world and who gets credit for their success.In his conversation with Adam Job, Senior Director at the BCG Henderson Institute, he discusses the cumulative effects of social status, whereby small initial differences can snowball into outsize effects. He also outlines why the social status system persists despite a prevailing distrust in elites—and how AI may yet be poised to change the system.Key topics discussed:&nbsp;01:44 | The importance of social status05:15 | The role of anointment in modern times13:23 | The cumulative effects of social status19:18 | Why the social status system persists21:23 | How AI may change the role of social status24:45 | The downsides of high social status, and how to deal with them

Anointed with Toby Stuart

In <a href="https://www.amazon.com/Reshuffle-wins-restacks-knowledge-economy-ebook/dp/B0DTKW6NQV" rel="noopener noreferrer" target="_blank">Reshuffle: Who Wins When AI Restacks the Knowledge Economy</a>, <a href="https://substack.com/@platforms" rel="noopener noreferrer" target="_blank">Sangeet Paul Choudary</a> explores common misconceptions about how AI will change work, organizations, and business ecosystems.Choudary is the founder and CEO of Platformation Labs and a senior fellow at UC Berkeley’s Haas School of Business. An expert on AI, platforms, and the economics of big tech, he has sold more than half a million books on these topics. In his latest work, he explores how new forms of coordination—rather than automation and augmentation—are the true superpower of AI.In his conversation with Adam Job, senior director at the BCG Henderson Institute, he discusses how AI will supercharge coordination, move us towards a more modular, on-demand economy, and how companies can account for all of this in their strategies.Key topics discussed:&nbsp;01:31 | How AI will impact jobs04:38 | Assessing the value of jobs09:25 | AI’s power to supercharge coordination14:23 | Unlocking “coordination without consensus”19:00 | Moving towards a modular, on-demand economy25:56 | Crafting a strategy for the age of AIAdditional inspirations from Sangeet Choudary:<ul><li><a href="https://www.amazon.com/Platform-Revolution-Networked-Markets-Transforming/dp/0393249131" rel="noopener noreferrer" target="_blank">Platform Revolution: How Networked Markets Are Transforming the Economy and How to Make Them Work for You</a>, co-authored by Geoffrey G. Parker and Marshall W. Van Alstyne (W. W. Norton & Company, 2016)</li><li><a href="https://www.amazon.com/Platform-Scale-emerging-business-investment/dp/9810967586" rel="noopener noreferrer" target="_blank">Platform Scale: How an Emerging Business Model Helps Startups Build Large Empires with Minimum Investment</a> (Platform Thinking Labs, 2015)</li></ul>

Reshuffle with Sangeet Paul Choudary

In<a href="https://www.amazon.com/Eurasian-Century-Making-Modern-World/dp/132403694X" rel="noopener noreferrer" target="_blank"> The Eurasian Century: Hot Wars, Cold Wars, and the Making of the Modern World</a>, <a href="https://sais.jhu.edu/users/hbrands2" rel="noopener noreferrer" target="_blank">Hal Brands</a> illuminates the historical patterns we must understand in order to better navigate the geopolitical rivalries of the present.Hal Brands is the Henry A. Kissinger Distinguished Professor of Global Affairs at the Johns Hopkins School of Advanced International Studies (SAIS). He is also a senior fellow at the American Enterprise Institute and a columnist for Bloomberg Opinion. In his new book, he traces the arc from World War I to today’s rivalries between the United States and China, and between NATO and Russia.In his conversation with Nikolaus Lang, global leader of the BCG Henderson Institute, he discusses why the 20th and 21st centuries are the Eurasian (rather than the American) Era, how today’s rivalries among great powers differ from those of the past, and what global business must pay attention to in navigating current geopolitical tensions.Key topics discussed:&nbsp;01:28 | The 20th and 21st centuries as the Eurasian era05:32 | The “historic achievement” of the Cold War08:34 | How today’s rivalries among great powers are different13:14 | The future of Eurasia15:59 | How global businesses can operate in a polarized geopolitical world20:13 | Reasons to be optimistic vs. pessimistic about the futureAdditional inspirations from Hal Brands:<ul><li><a href="https://www.amazon.com/Danger-Zone-Coming-Conflict-China/dp/1324021306" rel="noopener noreferrer" target="_blank">Danger Zone: The Coming Conflict with China</a>, co-authored by Michael Beckley (W. W. Norton & Company, 2022)</li><li><a href="https://www.amazon.com/Lessons-Tragedy-Statecraft-World-Order/dp/030023824X" rel="noopener noreferrer" target="_blank">The Lessons of Tragedy: Statecraft and World Order</a>, co-authored by Charles Edel (Yale University Press, 2019)</li><li><a href="https://www.amazon.com/Twilight-Struggle-Teaches-Great-Power-Rivalry/dp/0300250789" rel="noopener noreferrer" target="_blank">The Twilight Struggle: What the Cold War Teaches Us about Great-Power Rivalry Today</a> (Yale University Press, 2019)</li><li><a href="https://www.amazon.com/What-Good-Grand-Strategy-Statecraft/dp/0801456738" rel="noopener noreferrer" target="_blank">What Good Is Grand Strategy?: Power and Purpose in American Statecraft from Harry S. Truman to George W. Bush</a> (Cornell University Press, 2014)</li></ul>

The Eurasian Century with Hal Brands

In <a href="https://www.amazon.com/Measure-Progress-Counting-Really-Matters/dp/0691179026" rel="noopener noreferrer" target="_blank">The Measure of Progress: Counting What Really Matters</a>, Dame Diane Coyle argues that traditional measures like GDP no longer capture economic realities.Coyle is the Bennett Professor of Public Policy at the University of Cambridge. She is also the director of the Productivity Institute, a fellow of the Office for National Statistics, and a member of the UK’s Competition Commission. Drawing on her deep expertise, she proposes an alternative framework for measuring productivity that enables better policymaking.In her conversation with Nikolaus Lang, global leader of the BCG Henderson Institute, she discusses the shortcomings of GDP—such as a lack of accounting for immaterial goods or natural capital, alternative measures of progress, and how corporate leaders should rethink their approach to measurement.Key topics discussed:&nbsp;01:32 | The shortcomings of GDP as a measure of productivity09:14 | The issues of inflated GDP statements11:12 | Alternative measures of productivity and progress13:47 | A time-based approach to measuring productivity16:39 | How productivity measurement works in practice18:57 | Implications for corporate leadersAdditional inspirations from Diane Coyle:<ul><li><a href="https://www.amazon.com/Cogs-Monsters-What-Economics-Should/dp/0691210594" rel="noopener noreferrer" target="_blank">Cogs and Monsters: What Economics Is, and What It Should Be</a> (Princeton University Press, 2021)</li><li><a href="https://www.amazon.com/GDP-Affectionate-History-Revised-expanded/dp/0691169853" rel="noopener noreferrer" target="_blank">GDP: A Brief but Affectionate History</a> (Princeton University Press, 2015)</li><li><a href="https://www.amazon.com/Soulful-Science-Economists-Matters-Revised/dp/0691143161" rel="noopener noreferrer" target="_blank">The Soulful Science: What Economists Really Do and Why It Matters</a> (Princeton University Press, 2009)</li><li><a href="https://www.amazon.com/Sex-Drugs-Economics-Unconventional-Introduction/dp/1587991470" rel="noopener noreferrer" target="_blank">Sex, Drugs and Economics: An Unconventional Intro to Economics</a> (Texere, 2002)</li></ul>

The Measure of Progress with Diane Coyle

In <a href="https://www.amazon.com/Chokepoints-American-Power-Economic-Warfare/dp/0593712978" rel="noopener noreferrer" target="_blank">Chokepoints: American Power in the Age of Economic Warfare</a>, <a href="https://www.energypolicy.columbia.edu/edward-fishman/" rel="noopener noreferrer" target="_blank">Edward Fishman</a> argues that the nature of international power has fundamentally shifted from military might to economic statecraft.Fishman is a senior research scholar at Columbia University’s Center on Global Energy Policy and an adjunct professor of International and Public Affairs at Columbia. Previously, he served at the US State Department, leading work on economic sanctions. In his new book, he examines how governments—particularly the US’s—are increasingly using financial tools, regulatory measures, and targeted sanctions to shape international relations, secure strategic advantages, and resolve conflicts.In his conversation with Nikolaus Lang, global leader of the BCG Henderson Institute, he discusses the history of sanctions, how the US came to wield them so powerfully, how diplomatic back channels are navigated in applying them—and what is important for making them effective in enforcing the desired governance changes.Key topics discussed:&nbsp;02:05 | The history of chokepoints and US dominance over them08:45 | The role of businesses in economic diplomacy12:17 | Navigating diplomatic back channels15:32 | The role of technology and export controls19:45 | Oil price caps as an innovation in sanctions design23:10 | The effectiveness of sanctions in enforcing governance changes27:44 | On the origins of this bookAdditional inspirations from Edward Fishman:<ul><li>Foreign Affairs: <a href="https://www.foreignaffairs.com/united-states/how-trump-could-dethrone-dollar" rel="noopener noreferrer" target="_blank">How Trump Could Dethrone the Dollar</a> (April 8, 2025)</li></ul>

Chokepoints with Eddie Fishman

In <a href="https://www.amazon.com/Theres-Nothing-Like-This-Strategic/dp/B0DD2XL7C5" rel="noopener noreferrer" target="_blank">There's Nothing Like This: The Strategic Genius of Taylor Swift</a>, <a href="https://www.linkedin.com/in/kevin-evers1/" rel="noopener noreferrer" target="_blank">Kevin Evers</a> examines the singer-songwriter's remarkable career success from a business strategy perspective.Evers is a senior editor at Harvard Business Review, where he has edited bestselling and award-winning books on high performance, creativity, innovation, digital disruption, marketing, and strategy.In discussion with Martin Reeves, Chairman of the BCG Henderson Institute, they cover the scale and longevity of Swift's success, the strategic moves and innovations that have driven her rise and staying power, her ability to reinvent herself and connect with fans in new ways, and lessons for strategists and companies.

There's Nothing Like This with Kevin Evers

In <a href="https://www.amazon.com/Space-Grow-Unlocking-Economic-Frontier/dp/1647827167" rel="noopener noreferrer" target="_blank">Space to Grow: Unlocking the Final Economic Frontier</a>, <a href="https://www.hbs.edu/faculty/Pages/profile.aspx?facId=496493" rel="noopener noreferrer" target="_blank">Matthew C. Weinzierl</a> and <a href="https://www.linkedin.com/in/brendan-rosseau/" rel="noopener noreferrer" target="_blank">Brendan Rosseau</a> discuss the discuss the history, the present, and the future of the space economy.Weinzierl is the Joseph and Jacqueline Elbling professor of Business Administration at Harvard Business School and founder of the Economics of Space project at HBS. Rosseau is an Orbital Launch strategy manager at the American space technology company Blue Origin. Together, they provide in-depth academic and practitioner perspectives on the space economy.In their conversation with Nikolaus Lang, global leader of the BCG Henderson Institute, they discuss the central governance vs. market-driven models of the space economy, the geopolitics of space, and whether the first trillionaire will be an asteroid miner.Key topics discussed:&nbsp;02:03 | The three phases of the space economy05:28 | Central governance vs. market-driven model of the space economy08:23 | Geopolitics of space11:33 | The market structure of the space economy (on Earth)17:14 | Space junk21:03 | Asteroid mining23:47 | How to make space interesting again

Space to Grow with Matthew Weinzierl and Brendan Rosseau

In <a href="https://www.amazon.com/Corporation-Twenty-First-Century-Everything-Business/dp/030028019X" rel="noopener noreferrer" target="_blank">The Corporation in the Twenty-First Century: Why (Almost) Everything We Are Told About Business Is Wrong</a>, <a href="https://www.johnkay.com/" rel="noopener noreferrer" target="_blank">John Kay</a> provides a novel perspective on the evolution of the contemporary corporation.One of the UK’s leading economists, Kay is a fellow of St John’s College, Oxford. He was the first dean of Oxford’s Saïd Business School and has held chairs at London Business School, the University of Oxford, and the London School of Economics and director of the Institute for Fiscal Studies.In his conversation with Martin Reeves, chairman of the BCG Henderson Institute, Kay discusses the essence of the modern corporation, the changing relationship of capital and labour, the gap between the our historic concept of the corporation and the current reality and the forces that have and will further shape the corporation including sustainability, geopolitics, and technology.Key topics discussed:&nbsp;01:56 | The essence of a 21st century corporation05:53 | The changing roles of workers and capital12:26 | Limits to corporate scale16:00 | Forces that will shape the future of corporations sustainability, geopolitics, technology21:50 | The impact of AI on the nature of the corporation24:12 | Implications for managersAdditional inspirations from John Kay:<ul><li><a href="https://www.amazon.com/Radical-Uncertainty-Decision-Making-Beyond-Numbers/dp/1324004770" rel="noopener noreferrer" target="_blank">Radical Uncertainty: Decision-Making Beyond the Numbers</a> (W.W. Norton & Company, 2020)</li><li><a href="https://www.amazon.com/Long-Short-International-investment-intelligent/dp/1781256772" rel="noopener noreferrer" target="_blank">The Long and the Short of It: A guide to finance and investment for normally intelligent people who aren’t in the industry</a> (IPS - Profile Books, 2016)</li><li><a href="https://www.amazon.com/Other-Peoples-Money-Business-Finance/dp/1610396030" rel="noopener noreferrer" target="_blank">Other People's Money: The Real Business of Finance</a> (PublicAffairs, 2015)</li><li><a href="https://www.amazon.com/Obliquity-Goals-Best-Achieved-Indirectly/dp/1846682894" rel="noopener noreferrer" target="_blank">Obliquity: Why Our Goals Are Best Achieved Indirectly</a> (Profile Books GB, 2011)</li></ul>

The Corporation in the Twenty-First Century with John Kay

In <a href="https://www.amazon.com/Uncertainty-Enterprise-Venturing-Beyond-Known/dp/0197688357" rel="noopener noreferrer" target="_blank">Uncertainty and Enterprise: Venturing Beyond the Known</a>, <a href="https://bhide.net/wordpress_files/" rel="noopener noreferrer" target="_blank">Amar Bhidé</a> revisits and modernizes the concept of Knightian uncertainty. Introduced more than 100 years ago, the concept offers great potential for better understanding corporate decision-making.A renowned expert on innovation, entrepreneurship, and finance, Bhidé is a professor of Health Policy at the Mailman School of Public Health at Columbia University, as well as a professor emeritus of Business at the Fletcher School of Law and Diplomacy, Tufts University.In his conversation with Martin Reeves, chairman of the BCG Henderson Institute, Bhidé discusses the important distinction between repeated and unique events, the relationship between uncertainty and imagination, how corporations can use persuasive narratives and social routes to navigate the future, and whether AI will help or hinder these practices.Key topics discussed:01:16 | The definition of uncertainty04:49 | The relation between uncertainty and imagination09:32 | The power of corporate routines15:57 | The changing nature of uncertainty17:25 | How AI impacts uncertainty21:02 | Corporate implications22:38 | Implications for business educationAdditional inspirations from Amar Bhidé:<ul><li><a href="https://www.amazon.com/Call-Judgment-Sensible-Finance-Dynamic/dp/0199756074" rel="noopener noreferrer" target="_blank">A Call for Judgment: Sensible Finance for a Dynamic Economy</a> (Oxford University Press, 2010)</li><li><a href="https://www.amazon.com/Venturesome-Economy-Innovation-Prosperity-Entrepreneurship/dp/0691135177" rel="noopener noreferrer" target="_blank">The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World</a> (Princeton University Press, 2008)</li><li><a href="https://www.amazon.com/Origin-Evolution-Businesses-Bhide-2000-01-01/dp/B01K2RY11O" rel="noopener noreferrer" target="_blank">The Origin and Evolution of New Businesses</a> (Oxford University Press, 2000)</li><li><a href="https://www.youtube.com/live/X9V2ztCcqhE?t=550s" rel="noopener noreferrer" target="_blank">Flourishing in an Uncertain World: How Entrepreneurs Overcome Doubts and Disagreements</a> (The Kansas City Public Library Lecture, 2025)</li></ul>

Uncertainty and Enterprise with Amar Bhidé

In The M&A Failure Trap: Why Most Mergers and Acquisitions Fail and How the Few Succeed, <a href="https://www.stern.nyu.edu/faculty/bio/baruch-lev" rel="noopener noreferrer" target="_blank">Baruch Lev</a> and <a href="https://management.buffalo.edu/faculty/academic-departments/accounting-law/faculty/feng-gu.html" rel="noopener noreferrer" target="_blank">Feng Gu</a> provide a wealth of evidence on the success and failure factors of acquisitions.Lev, professor emeritus of Accounting and Finance at NYU’s Stern School of Business and Gu, professor of Accounting and Law at the State University of New York, have analyzed more than 40,000 acquisitions over the past four decades. This has not only allowed them to understand the reasons why 75% of deals fail but also to develop a scorecard that can help decision-makers assess the likelihood of acquisition success ex ante.In their conversation with Martin Reeves, chairman of the BCG Henderson Institute, Lev and Gu discuss how to measure acquisition success, how to curb overconfidence on the side of the acquirer, and key lessons for CEOs seeking inorganic growth.Key topics discussed:[02:45] How mergers and acquisitions have changed[05:00] Judging the success or failure of acquisitions[08:16] Drivers of acquisition failure[14:41] Patterns of successful acquisitions[17:27] Overconfidence and its causes[19:51] Managerial implications

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