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<div type="image" title="Companies are embracing the unbossing trend" msid="113256383" hostid="261" sizebytes="1440779"></div> If there’s one thing both a productive team member and an underperformer hates in the corporate world, it’s being micromanaged. Now, imagine a workplace where the boss isn’t calling all the shots. Instead, everyone has a voice, and innovation flows freely. The recent corporate trend of "Unbossing" promises to do just that, empowering employees by eliminating the heavy hands of hierarchy. Sounds too good to be true? Well, globally, not just the new-age start-ups, but dozens of major corporations have embraced this trend and trimmed their middle management. <h2>Managers managing managers — no more!</h2>In January last year, <keyword id="399907" type="General" weightage="20" keywordseo="META" source="Orion">Meta</keyword> CEO Mark Zuckerberg made headlines for declaring 2023 as the “year of efficiency” and saying that he doesn’t want a management structure that's just “managers managing managers”. <div type="image" title="Meta CEO Mark Zuckerberg" agency="ANI" msid="113256403" hostid="261"></div> The same month, it was also reported by Command Line that Meta's chief product officer Chris Cox, had shared a post on the company's communication platform, Workplace, highlighting the necessity to "flatten" the organisation's structure. What followed was reports of Meta slashing middle management roles. Gradually, other companies like Shopify, Bayer, and Cisco began making headlines for showing the exit door to some of their middle managers. Loosely, unbossing is essentially cutting down the middle management roles. It cuts significant costs for the company and the new-age workforce also endorses the trend as efficient in enabling faster decision-making and innovation. However, critics argue this trend also limits the extent of mentorship that the younger generation receives while entering the workforce, which often remains an intangible value if your boss turns out to be a good mentor. Therefore, for some, it’s not about firing the middle management, but just another leadership philosophy on how leaders (and ‘bosses’) should conduct themselves. This approach advocates bosses working along with the team as a part rather than shouting instructions from the top. Whatever one’s understanding, this trend of “Unbossing” appears to be taking corporate America by storm in 2023, as evidenced by hundreds of media reports highlighting the same. Overall, most agree that the trend is restructuring organisational hierarchy to enable direct communication between employees and leaders. Cut to 2024, this trend is still prevalent and making headlines. A Bloomberg report recently said that Georges Elhedery, the incoming CEO of HSBC Holdings, might also consider plans to streamline the company's operations by reducing layers of middle management. But what’s the scenario in India? Are Indian companies ready to ditch the old-school approach and adopt this new way of working? Let’s dive in and see what the experts have to say! <h2>Layoffs to impact senior professionals: Naukri.com survey</h2>A survey by job portal Naukri.com early last year had suggested that recruiters in India expect a decline in layoffs during the first half of 2023. The survey, which included responses from 1,400 recruiters and consultants across ten industries, revealed that only 4 percent of participants anticipated layoffs to be the main focus of hiring activities within their organisations. However, the survey also highlighted that information technology roles and senior professionals were likely to be the most affected by hiring adjustments. About 20 percent of recruiters predicted that layoffs would predominantly impact senior professionals, while freshers are expected to face the least disruption from these hiring corrections. Interestingly the survey came around the same time when the Unbossing trend had begun picking up pace abroad. <h2>Layoffs at Wipro, <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and Collegedunia</h2>In January this year, Wipro India was in the limelight for laying off hundreds of its mid-level executives. The company reportedly culled many jobs as part of its strategy to improve margins. An ET report citing two sources familiar with the situation had said that the leading Indian IT firm reduced mid-level roles at its onsite locations. "Notices began being issued earlier this month, and hundreds of mid-level executives onsite are being let go," one source revealed. Another source added, "They have costly resources onsite in Capco, and although growth is returning, it's not sufficient. Aparna Iyer, Wipro's chief financial officer, has been tasked with delivering better margins this quarter." <div type="image" title="Amazon decided to lay-off middle managers in May" msid="113256170" hostid="261"></div>Then in May, Amazon also decided to reduce layers of middle management within its customer service divisions as part of an organisational restructuring, a Fortune report had said. The cuts impacted over 100 customer service managers in Level 5 and Level 6 middle management roles, both in call centres and virtual positions, primarily based in the U.S. and India. Not just large tech companies, startups too seem to be adapting the <keyword id="23125775" type="General" weightage="100" keywordseo="unbossing-trend-in-India" source="Orion">unbossing trend in India</keyword>. Last month, educational portal Collegedunia confirmed that around 100 employees from its Study Abroad department had been given the pink slip. A report in CNBC-TV18 had said that additional job cuts were happening across other departments as part of a broader reorganisation. The restructuring, as per the report, was aimed at automating many tasks to reduce costs. Interestingly, despite the layoffs, Collegedunia had posted 13 job openings on LinkedIn for various roles in different locations, primarily entry-level positions requiring up to two years of experience. "While Collegedunia is laying off several employees, it is also hiring fresh talent, allowing them to keep staffing levels up but at a lower cost," one employee told CNBC-TV18 at the time. Another source confirmed that while Collegedunia had been actively recruiting for some months, it has also been letting go of employees, including senior staff members with 7-8 years of experience at the company. <h2>What do experts say?</h2> <div type="image" title="Experts&amp;#39; opinion on unbossing trend" msid="113256250" hostid="261"></div>Mr. Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, told Business Insider India, “From the perspective of HR leaders and CEOs, the strategic culling of middle management is viewed as a means to streamline operations, reduce overhead, and foster a culture of autonomy and innovation.” He also noted that even though employees can “exercise greater ownership and agility in decision-making” through this approach, there are also significant downsides. “The erosion of middle management creates a vacuum in leadership development, mentorship, and the retention of institutional knowledge, potentially leading to disengagement, a weakened talent pipeline, and misalignment with organisational objectives,” Kumar noted. Talking specifically about the Indian scenario, he said, “Implementing this trend in India would be a strategic move, positioning organisations to remain competitive in a rapidly evolving business environment. However, to fully capitalise on this approach, developing a more robust talent pipeline that integrates the ability to multitask at all levels is imperative. In today's landscape, leadership demands thinkers, strategic visionaries, and individuals who can execute with precision. We need to cultivate a new breed of leaders who are both thinkers and doers, capable of navigating complex challenges while driving innovation and growth. By building versatile, agile leaders through targeted talent development programs, Indian organisations can ensure they are well-prepared to thrive in a decentralised, high-performance environment.” RP Yadav, Chairman and Managing Director of Genius Consultants Limited, told ET recently that the Unbossing approach simplifies hierarchies and encourages open communication between frontline employees and senior management. He had added that the concept of “the oldest in the room is always the wisest of all” is no longer applicable. Meanwhile, Aditya Narayan Mishra, MD and CEO of CIEL HR Services told ET that the unbossing trend is predominantly seen in tech companies, creative roles, and startups, where swift decision-making and the unrestricted exchange of ideas are crucial. For example, the tech sector often thrives with flattened hierarchies that support rapid innovation and agility, while creative industries such as advertising and media use unbossing to cultivate a more collaborative and idea-focused environment. Thus, the unbossing trend is gaining traction beyond global companies and is finding its way into Indian organisations as well. While this approach can streamline operations, reduce costs, and enhance agility, experts caution that it also brings challenges, such as gaps in leadership development and the loss of institutional knowledge. To fully harness the benefits of unbossing, Indian companies must focus on cultivating agile leaders who can navigate complex challenges and drive growth. By building a strong talent pipeline and fostering a culture of innovation and collaboration, Indian organisations can position themselves to thrive in a more decentralised and dynamic business environment. Do you have insights or personal experience to s hare on layoffs, <keyword id="34447" type="General" weightage="20" keywordseo="workplace-trends" source="Orion">workplace trends</keyword>, or career changes? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

<ul class="summary-list"><li>Companies are cutting <keyword id="21771459" type="General" weightage="20" keywordseo="middle-management" source="keywords">middle management</keyword> roles, and millennials are likely to be most affected.</li><li>Work culture has changed, and some companies see middle managers as obsolete.</li></ul>Companies are increasingly ditching middle <keyword id="21263594" type="General" weightage="20" keywordseo="management-positions" source="keywords">management positions</keyword>, and it could be millennials who find their jobs are most at risk. The great "<keyword id="21771460" type="General" weightage="20" keywordseo="unbossing" source="keywords">unbossing</keyword>" has been brought on by several factors, including cost-cutting, <a target="_blank" href="https://www.businessinsider.com/gen-z-might-kill-middle-management-2023-11">Gen Z's distaste for management</a>, remote working, and increased pressure on performance. The repercussions are that future generations entering the workforce may receive less mentorship while being put under more stress from above. But it's not just <keyword id="998753" type="General" weightage="20" keywordseo="junior-employees" source="Orion">junior employees</keyword> that could be worse off. Lara Milward, a neuro-leadership coach with expertise in how <keyword id="20346862" type="General" weightage="20" keywordseo="workplace-culture" source="keywords">workplace culture</keyword> is changing, told Business Insider it's the 30-somethings who are buying houses, starting to have children, and juggling "<keyword id="21219154" type="General" weightage="20" keywordseo="career-progression" source="keywords">career progression</keyword> and family life" that may find their jobs are suddenly axed. "It could well be that that's the generation that takes this hit," she said. <h2>Millennial middle managers are at risk</h2>Joe Galvin, the chief research officer of the executive coaching organization Vistage, told BI the unbossing trend has come about due to the normalization of working from home, advances in tech and AI, and generational shifts. "In the analog era, going back to, let's say, the eighties, you had to communicate manually to be able to align your workforce," he said. "Today, technology has made that all possible. And the behavior change that we saw during the pandemic was an accelerant to that." In 2021, Steven Baert, then the chief people and organization officer of Novartis, <a target="_blank" href="https://www.gallup.com/workplace/349589/unbossing-leaders-novartis.aspx">told Gallup</a> that traditional leadership was "becoming redundant." He said the company's goal was to have a workforce that's motivated and encouraged to be effective rather than told what to do. It's now rare to see the traditional version of a boss who walks around an office and checks in on what all their employees are doing. "That boss's job has changed tremendously," Galvin said. "How you manage relationships in a more digital environment is much more difficult." While Galvin said the intent of reducing middle management is to streamline communication between employees and senior executives, the impact could be unfairly balanced. Middle management positions <a target="_blank" href="https://www.businessinsider.com/middle-managers-layoffs-2023-meta-tech-companies-jobs-employment-2024-3">accounted for almost a third of layoffs</a> in 2023, according to <a target="_blank" href="https://www.bloomberg.com/news/newsletters/2024-03-15/bloomberg-evening-briefing-middle-managers-are-getting-fired-more-often">an analysis for Bloomberg</a> — an increase from 20% in 2018. <a target="_blank" href="https://www.livedatatechnologies.com/layoffs-by-job-level">Analysis from Live Data Technologies</a> also found that manager-level or higher roles made up almost 50% of all layoffs in 2023, a jump of 57.6% compared to five years ago. As a result, <a target="_blank" href="https://www.businessinsider.com/middle-managers-feeling-squeeze-amid-cost-and-job-cuts-glassdoor-2024-3">confidence levels of mid-managers have dropped</a> significantly, according to research from Glassdoor. It just so happens that a lot of middle managers are millennials. Aged between 28 and 43, millennials are often in their first management positions or on their way to climbing to more senior roles. They were also hit the hardest during <a target="_blank" href="https://www.businessinsider.com/millennials-won-great-resignation-now-losing-the-big-firing-2022-9">the Great Firing of 2022</a>, making up 94% of laid-off workers. "Since millennials make up a large portion of middle management, they, along with some Gen X, are most likely to be affected by this trend," Chris Lovell, a careers expert at SoFi Technologies and the founder of Careers by Chris, told BI. "These are also the generations that were most likely taught to follow a traditional career path: go to school, earn a degree, and climb the corporate ladder." <h2><keyword id="19901232" type="General" weightage="20" keywordseo="work-life-balance" source="keywords">Work-life balance</keyword> has changed</h2>Ironically, millennials are "less interested in corporate bureaucracies or hierarchies," Lovell said, which could be part of why middle management roles are being cut. Data suggests that both millennials and Gen Zers are <a target="_blank" href="https://www.businessinsider.com/why-millennials-and-gen-z-dont-want-to-be-managers-2023-11">turning away from management positions</a>, with a lack of trust in senior leadership, a perceived limited financial reward, and a greater focus on a work-life balance and time off. Many current <a target="_blank" href="https://www.businessinsider.com/middle-management-having-worst-year-ever-rto-layoffs-burnout-2023-9">middle managers are also burned out</a> with their teams being downsized, and an increased workload. Gen Zers could also be shifting the culture of the workforce, putting more emphasis on their boundaries, their mental health, and wanting more autonomy. "I think this collides with economies and the way that the world is going, that companies are cutting costs," Milward said. "If we're thinking about a world of diversity, inclusivity, and including new generations, they are trying to move towards a more flat structure and less of the old-school parent-child sort of relationship." However, Joel Wolfe, the founder and president of the customer service agency HiredSupport, told BI he believes this attitude from younger generations may be backfiring. There is pressure on managers to constantly do better than they did the previous quarter, but millennials aren't necessarily performing at that high level. <keyword id="21771458" type="General" weightage="100" keywordseo="millennial-managers" source="keywords">Millennial managers</keyword>, in Wolfe's opinion, can be "difficult to work with." "They have fixed schedules and aren't flexible, which is something difficult to adapt to, especially when you are working with different timezones," he said. Millennials and Gen Zers are increasingly opting out of working overtime and going above and beyond for promotions, instead favoring more time off and leaving work at the door when they go home. Wolfe said this may make them seem inflexible and thus vulnerable when layoffs happen. "I prefer employees working when they have some tasks to do," he said. "I don't want them to sit in front of the screen and wait for the clock to strike 5 p.m." <h2>The impact on Zoomers</h2>Shoshanna Davis, the founder of Fairy Job Mother and a consultant who helps young people with their careers, told BI she's not convinced unbossing is a direct response to how younger generations perceive the world of work. But it is likely to disproportionately affect Gen Zers in their first or second jobs. "They are new to the world of work, and they do really need managers to help them find the ropes," Davis said. "Ultimately, eliminating this kind of middle management position means less guidance, less coaching, and less mentoring, which I feel like is still desperately needed in a post-COVID world." Zoomers are already unenthused by management. They are the generation that coined the term "<a target="_blank" href="https://www.businessinsider.com/lazy-girl-job-trend-tiktok-explained-defending-low-stress-work-2023-7">lazy-girl jobs</a>" and strongly believe in the benefits of "<a target="_blank" href="https://www.businessinsider.com/gen-z-quiet-quitting-work-ethic-millennials-money-struggles-2023-10">quiet quitting</a>." Will fewer management positions be replaced by higher salaries? Will career progression stagnate for Gen Z, if they have no millennial managers to look up to? What does this mean for the generations after them? Davis isn't sure. "If it's just truly a way to cut costs, and there's going to be no replacements, then what incentive is there for people to perform at work?" Davis said. "I don't really see how that's going to pan out." Correction: May 22, 2024 — An earlier version of this story misstated Steven Baert's current employment and position. He currently works at GE Vernova, not Novartis. His position at Novartis in 2021 was chief people and organization officer, not CEO.

Companies are 'unbossing' the workplace, and millennial managers are getting axed

<ul class="summary-list"><li>Companies are axing middle management positions, but this may be short-sighted, an expert said.</li><li>Middle managers provide support to junior employees, according to the head of a training platform. </li></ul>Middle managers have been the <a target="_blank" href="https://www.businessinsider.com/middle-managers-layoffs-2023-meta-tech-companies-jobs-employment-2024-3">punching bag of the workplace</a> for some time, with employees increasingly seeing their direct superiors as meddlesome, obsolete, and taking credit for their work.But it shouldn't be a matter of axing middle management entirely, Koma Gandy, the VP of business and leadership at the corporate training platform Skillsoft, told Business Insider.Rather, we need to remember what makes a middle manager valuable.The answer, Gandy said, lies in developing better soft "power" skills.With improved communication and listening, more empathy, and emotional intelligence, middle managers could save themselves from <a target="_blank" href="https://www.businessinsider.com/companies-are-unbossing-workplaces-and-millennials-are-at-risk-2024-5">the "great unbossing,"</a> Gandy said.But that requires leaders to take note and start investing in managers to help them nurture these skills as well."I would say, why don't we lean into that cohort rather than thinking about how can we eliminate that cohort?" Gandy said.<h2 id="c1cdb139-a58e-4de0-bca7-7505846bbc13">The attack on middle managers</h2>Companies have been <a target="_blank" rel="" href="https://www.businessinsider.com/middle-management-having-worst-year-ever-rto-layoffs-burnout-2023-9">axing middle management positions</a> as a way to cut costs.Their reduction has also been in response to <a target="_blank" rel="" href="https://www.businessinsider.com/gen-z-might-kill-middle-management-2023-11">Gen Z's distaste for management</a> and how office culture has shifted with remote working.Proponents of "unbossing" believe it could make <a target="_blank" href="https://www.businessinsider.com/unbossing-workplaces-could-make-gen-zers-better-at-their-jobs-2024-5">Gen Zers who are entering the workforce better at their jobs</a> by giving them more autonomy.But this is short-sighted, Gandy said.For starters, middle managers provide mentorship to junior employees and graduate staffers.<a target="_blank" href="https://www.businessinsider.com/gen-z-taking-courses-send-emails-office-clothes-wsj-2023-6">Zoomers entering the workforce</a> prioritize their own mental health and work-life balance, and a good manager is someone who also makes these things a primary concern, Gandy argued."Some of the things that Gen Z is demanding from the workplace can be uniquely facilitated by the very people that the trend is trying to eliminate, which are these middle managers," Gandy said.<h2 id="4bfa6fc9-11a0-492b-8033-50444e4f6aa3">A lack of training</h2>Good middle managers need training and guidance, which is severely lacking in current workplaces, Gandy said.Many people, a few years into their careers, will fall into management positions almost by default. They are often expected to know how to effectively do the job without much support."It's just congratulations and good luck," Gandy said. "But wait, aren't you going to teach me how to lead a meeting? Aren't you going to teach me how to communicate to a team?"Key skills for managers to develop include active listening and effective communication, which makes their employees feel valued, that their work matters, and that they are being recognized as whole human beings.If somebody on the team is underperforming, for example, it could be for a myriad of reasons — something is going on at home, they're feeling unsure about what their job is, or where they fit into the company."If you don't build up that emotional intelligence to be able to tease out what's happening in that person's environment, you're never going to unlock and unleash the potential that they can bring to their teams," Gandy said.A team that has a manager who has developed strong soft skills, "then you're going to see ripple effects throughout the organization," Gandy said.<h2 id="6ecd31ec-8639-4959-a647-4decbb109573">A faulty toolbox</h2>But when these skills are underdeveloped, "it creates a lot of mistrust" among team members, Gandy said."Nobody wants to be micromanaged. Nobody wants to have somebody sitting over their shoulder," she said.Micromanaging often doesn't happen in a vacuum. It may be that a manager doesn't know any different, Gandy said, because that's how they were managed when they were more junior.This manager shouldn't be let go, Gandy said, just because they have a "faulty toolbox." No manager comes to work striving to underperform or wanting their team to feel devalued and burned out, she said."That's a training deficiency. That is a behavior that can be changed," she said."If you're not supporting and nurturing them and giving them the tools to develop themselves, then, of course, it might seem attractive to eliminate that cohort."<a target="_blank" href="https://www.businessinsider.com/middle-managers-great-flattening-organization-meta-tech-layoffs-firing-2023-3">Middle managers are easy to pick on</a>, Gandy said, but it'll be a lot more cost-effective in the long run for companies to invest in training them in these skills."I really think it's a matter of, how do we intentionally develop and expose middle managers to the types of skills and the type of training that they need to be successful," she said. "Rather than throwing that entire cohort away to the detriment of an organization."

The crucial skills for middle managers to survive the 'great unbossing'

The next time you join a new organisation, closely look at its reporting hierarchy. Do you have a mid-level manager to report to, or do you have a direct line to the senior executives? If your answer is the latter, you’re most likely part of an organisation that has “unbossed” itself. Many companies, like life sciences behemoths Bayers and Novartis, have recently hopped onto this un-bossing trend. Closer home, Wipro reportedly laid off many of its middle <keyword id="20235360" type="General" weightage="20" keywordseo="management" source="keywords">management</keyword> employees recently. The IT major is said to have undergone a major un-bossing, even though the main purpose of the exercise was to improve efficiency. So, what is this un-bossing trend all about, and how are Indian companies taking up to it? And most importantly, will it do anyone good? Let's find out. <cmsannotation type="cmsannotation" annotationid="What does Gen-Z want?" comment="subhead" text="What does Gen-Z want?">What does <keyword id="20334202" type="General" weightage="20" keywordseo="Gen-Z" source="keywords">Gen-Z</keyword> want?</cmsannotation> A recent report by the World Economic Forum (WEF) estimates that by 2025, Gen-Z (born after 1996) will account for 27% of the global workforce. While there are no official figures, a young country like India is expected to have an even higher proportion of Gen-Z workforce, with estimates suggesting 25 crore as against roughly 40 crore <keyword id="19955338" type="General" weightage="20" keywordseo="millennials" source="keywords">millennials</keyword> (those born between 1981 and 1996). While the numbers might not be far apart, their work priorities certainly are. For millennials, it has traditionally been about job stability and steadily climbing the corporate ladder. But for Gen-Z, purpose, <keyword id="19986702" type="General" weightage="20" keywordseo="flexibility" source="keywords">flexibility</keyword>, respect at their jobs and a solid work-life balance are key. They are not lured into simply jumping the corporate ranks. As more companies make way for younger blood in offices, millennials are confronted with a unique, almost existential challenge. With Gen-Z embracing newer tech, remote working and prioritising flexibility and respect at work, corporations are increasingly doing away with <keyword id="22056604" type="General" weightage="20" keywordseo="mid-level-managers" source="keywords">mid-level managers</keyword>, mostly millennials. Even in 2022, millennials were also the hardest hit during <a href="https://www.businessinsider.in/policy/economy/news/millennials-won-the-great-resignation-now-theyre-losing-the-big-firing-/articleshow/94076963.cms">the Great Firing Phase</a> as well. Sanchita Tuli, director of <keyword id="6393327" type="General" weightage="20" keywordseo="Human-Resources" source="Orion">Human Resources</keyword> at Great Lakes Institute of Management notes that un-bossing is a natural progression, as more organisations will eventually move towards developing flatter reporting hierarchies. “However, it remains pertinent only to limited industries, like technology, where changes are dynamic and quick. Un-bossing will be nearly impossible in certain industries like education, where one will always need a certain degree of experience to handle higher-order roles. Another industry where un-bossing will not take place is hospitality, where they would be needed to drive daily operations,” she explains. <cmsannotation type="cmsannotation" annotationid="Bye-Bye mentorship?" comment="subhead" text="Bye-Bye mentorship?">Bye-Bye <keyword id="20874153" type="General" weightage="20" keywordseo="mentorship" source="keywords">mentorship</keyword>?</cmsannotation> What about mentorship and the handholding done by these mid-level managers, which is so crucial during the initial years of one’s career? "Gen Zers are new to the world of work, and they do really need managers to help them find the ropes. Ultimately, eliminating this kind of middle management position means less guidance, less coaching, and less mentoring, which I feel like is still desperately needed in a post-COVID world," <a href="https://www.businessinsider.in/careers/news/companies-are-unbossing-workplace-culture-and-millennials-are-in-the-firing-line/articleshow/110311358.cms">says</a> Shoshanna Davis, the founder of Fairy Job Mother to Business Insider. Tuli, however, believes that the new generation could also benefit from un-bossing. She believed that the trend offers scope for new talent to access <keyword id="22056605" type="General" weightage="20" keywordseo="cross-functional-guidance" source="Orion">cross-functional guidance</keyword> and mentorship, both within the organisation and online as well. In fact, many organisations are increasingly engaging industry professionals to take up training and mentoring sessions for their young, incoming talent. This could benefit the younger lot by motivating them to take on initiatives and action, all on their own. Zoomers are already unenthused by management. They are the generation that coined the term "<a href="https://www.businessinsider.com/lazy-girl-job-trend-tiktok-explained-defending-low-stress-work-2023-7">lazy-girl jobs</a>" and strongly believe in the benefits of "<a href="https://www.businessinsider.com/gen-z-quiet-quitting-work-ethic-millennials-money-struggles-2023-10">quiet quitting</a>." And at the end of the day, solid managers will always be in demand. As per a 2022 report by ThoughtExchange, around 79% of Indian youngsters prioritise having a supportive manager, who is equally invested in their personal growth and professional development while working. For most parts, Gen-Z merely wants to boot out micromanagement and workplace toxicity, something that has come to be deeply associated with mid-level management. Clearly, the role, which was earlier simply a link between fresh talent and senior management, is in need of a rehaul. <cmsannotation type="cmsannotation" annotationid="Don't be a boss, be a leader" comment="subhead" text="Don't be a boss, be a leader">Don't be a boss, be a leader </cmsannotation>To buck this trend, mid-level managers will need to be more agile and adaptable to the changing times. In other words, they need to be as un-bossy as possible. That the oldest, most experienced member of the lot will necessarily also be the wisest is a notion that should be retired. Mid-managers need to be facilitators, and not mere bosses dictating the job. As Tuli states, mid- managers will need to work on fostering a safe and positive workplace culture, where experience, constructive feedback, and new perspectives find equal value and voice.

The 2024 Great Unbossing — Desi Edition: How is global trend of firing mid-level managers taking shape in India

<ul class="summary-list"><li>Companies are cutting middle management positions due to cost cutting and other pressures.</li><li>The great "unbossing" could make Gen Zers better at their jobs, experts suggest.</li></ul><a target="_blank" href="https://www.businessinsider.com/companies-are-unbossing-workplaces-and-millennials-are-at-risk-2024-5">The great unbossing</a> is underway, with companies <a target="_blank" href="https://www.businessinsider.com/middle-management-having-worst-year-ever-rto-layoffs-burnout-2023-9">cutting middle management positions</a>.Cost cutting, <a target="_blank" rel="" href="https://www.businessinsider.com/gen-z-might-kill-middle-management-2023-11">Gen Z's distaste for management</a>, remote working, and <a target="_blank" href="https://www.businessinsider.com/middle-managers-feeling-squeeze-amid-cost-and-job-cuts-glassdoor-2024-3">increased pressure on performance</a> are all factors in why middle managers are finding their jobs are most at risk during layoffs.But while critics think the repercussions of a flatter corporate structure could be less mentorship and feeling more stress coming from above, according to hiring experts, there are also benefits. And one might be that Zoomers get better at their jobs.Sophie O'Brien, a Gen Z hiring expert and the founder of the recruitment agency Pollen Careers, told Business Insider the role of a middle manager is to effectively "micro-manage juniors.""But actually, there's evidence to suggest this is not productive and limits people's learning potential," she said. "The most effective team development is when people are given autonomy and the freedom to fail."O'Brien said fresh talent is often better equipped to identify issues with traditional ways of working in a company, which could help with shaking up the structure to be more efficient.She said that not having a micromanager picking apart their work could benefit Gen Zers who don't feel they need to be "spoon-fed."O'Brien said micromanagers can have a "detrimental impact" on Zoomers' productivity, especially if it's their first job."It can cause them to feel demotivated, doubt or second-guess themself, and make them disengage from their work," she said. "Because if their ideas or work is constantly being rehashed or rejected, they'll naturally lose interest in their role."Not having multiple layers of management will give Zoomers "more autonomy and flexibility," O'Brien said, "and this can encourage empowerment, creativity, and for them to take full responsibility for their work."<h2 id="24704711-2e44-4a1a-8ca7-cdb658a343db">Doing it right</h2>Those who are skeptical of companies axing middle managers say it could mean junior staff won't receive the mentorship needed to climb the ladder.But issues should only arise with this shift if companies don't handle it properly, O'Brien said.One way to ensure young hires feel supported is to introduce mentoring programs, she said, because this will give them first-hand exposure to people from different teams with different levels of responsibility.They should also be introduced to the leadership team, O'Brien added, so they have visibility within the company."This not only benefits more junior employees but mentors, too," she said."We're now in a working world where there can be four generations working together, and the intergenerational divide has never been so vast."Making room for more conversations between people at all levels "can make for greater empathy, understanding, and better culture," O'Brien said.Reverse mentoring can also help bring an organization together, O'Brien said, to help give junior employees access to a variety of senior staff and leaders, so they are not stuck with a "terrible boss."Overall, it's about "trial and error," O'Brien said, and "making brave decisions.""Even just making a change and adopting a growth mindset as a business can create positive change, even if it fails, because it shows you want to do the best by people, that you won't just stick to the status quo," she said.<h2 id="af8c36d3-2d2e-40bc-a6a6-183c4d1cc43d">'Unbossing' can impact anyone</h2>While <a target="_blank" href="https://www.businessinsider.com/millennials-won-great-resignation-now-losing-the-big-firing-2022-9">millennials are currently most likely in the firing line</a>, the great unbossing can come to anyone. So, it may be a wake-up call for those who are coasting, "<a target="_blank" href="https://www.businessinsider.com/gen-z-quiet-quitting-work-ethic-millennials-money-struggles-2023-10">quiet quitting</a>," or simply in the wrong job.Catherine Rymsha, a visiting lecturer in management at The University of Massachusetts Lowell, told BI that cutting middle managers "alleviates the time and costs of upskilling and developing them into effective leaders."Companies are cutting managers to "weed out underperforming talent," Rymsha said, "while promoting the next-gen of leaders to aid in both developing those people and keeping an eye on the bottom line."According to Joe Camberato, the CEO of the fintech marketplace National Business Capital, it all comes down to who brings value and who doesn't."If you want to protect your job, don't just focus on your title or job description," he said. "Focus on what brings real value to your company, department, or team, and go above and beyond to make that happen."Camberato said staffers of all generations, from Boomers to Gen Zers, need to evolve, "especially as technology advances.""You need to embrace change and new technologies to keep bringing value to your company and your position," he said. "If you don't, you risk being left behind without a job."

'Unbossing' the workplace could make Gen Zers better at their jobs, hiring experts say

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Forbes/ Victoria EngblomNovartis CEO Vas Narasimhan speaks at the 2018 Forbes Healthcare Summit in New York</div></div></div><ul class="summary-list"><li>Vas Narasimhan, the new CEO of Swiss pharma giant Novartis, has ambitious plans for his 120,000-person company.</li><li>Narasimhan said in November that he wants to "un-boss" the company's culture, and is letting employees wear jeans to work. </li><li>"I think there's been a lot of acceptance of the culture change, but now the hard work has begun," Narasimhan told Business Insider.</li></ul>Novartis's new CEO has his work cut out for him. Since stepping into the job in February, Vas Narasimhan's been working to change what the <a href="https://markets.businessinsider.com/stocks/novartis-stock">$230 billion pharmaceutical giant</a> is known for.Instead of being a diversified healthcare conglomerate, Narasimhan is narrowing his focus to make Novartis a "breakthrough medicines companies," divesting its consumer health joint venture as well as announcing the spinoff of its eye-care business <a href="https://www.businessinsider.com/r-novartis-to-spin-off-alcon-will-buy-back-5-billion-in-shares-2018-6">Alcon in June.</a>Read more: <a href="https://www.businessinsider.com/novartis-ceo-vas-narasimhan-on-ma-and-taking-earlier-risks-on-new-technology-2018-12">The CEO of $230 billion pharma giant Novartis explains why he's not scared of buying biotechs at an earlier - and riskier - stage</a>And that includes changing up the company's culture to make big pharma a more appealing place for the millennial generation to work, Already, half of Novartis's 120,000 workers are millennials. There's aesthetic changes involved, such as wearing jeans to work. "We want to un-boss the company," Narasimhan said at the Forbes Healthcare Summit in New York in November. That means making employees feel accountable rather than having to turn to a boss to make a decision. But saying the culture's changing and actually making it change are two different things. "For many people, they love the idea of the culture change, everybody then wants to know why can't it happen right away," Narasimhan told Business Insider. "So then you have to explain to people, this takes time, leadership, it takes a lot of changes in how we work. But I think there's been a lot of acceptance of the culture change, but now the hard work has begun."<div class="KonaFilter image-container display-table"><div><div class="image on-image">Darren Hauck/Getty Images</div></div></div>So as much as switching outfits and introducing communications tools like Yammer might help, it's going to take some work to pull this transition off. "In the end, I need 12,000 leaders of people to change their behaviors," Narasimhan said. "It's not going to be slogans on posters or jeans." <ul class="read-more-links"><li>Read more:</li><li><a href="https://www.businessinsider.com/novartis-epipen-rival-will-launch-in-2019-at-250-2018-12" data-read-more-link="" data-e2e-name="read-more-link">Drug giant Novartis is gearing up to release a cheaper EpiPen rival, but one big factor may make competition tricky</a></li><li><a href="https://www.businessinsider.com/glaxosmithkline-tesaro-agree-to-51-billion-deal-2018-12" data-read-more-link="" data-e2e-name="read-more-link">Pharma giant GSK just made a $5.1 billion bet on a cancer-drug maker</a></li><li><a href="https://www.businessinsider.com/how-independent-pharmacists-survive-against-amazon-cvs-2018-11" data-read-more-link="" data-e2e-name="read-more-link">Amazon is threatening the future of independent pharmacies. Here's how they're fighting back.</a></li><li><a href="https://www.businessinsider.com/why-high-deductible-health-insurance-plans-dont-work-2018-11" data-read-more-link="" data-e2e-name="read-more-link">A top healthcare executive pointed out what's broken about America's health-insurance system in a single sentence</a></li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-are-perfectly-rectangular-icebergs-formed-2018-11">Here's how perfectly rectangular icebergs are formed</a></h3> <div> </div> </div>

The CEO of Novartis wants to 'un-boss' the $230 billion pharma giant, and he's starting with letting employees wear jeans to work

<div type="image" title="Founder Mode is the new buzzword in town" msid="113456356" hostid="261"></div> Silicon Valley is usually buzzing with new catchphrases every now and then. Earlier this year, the phrase “unbossing” captured corporate America’s imagination. The trend seems to be spreading in India as well with a few examples of companies firing middle managers. You can read more about the ‘unbossing’ trend in India here: <a href="https://www.businessinsider.in/business/article/whats-with-all-unbossing-talks-are-indian-companies-also-embracing-this-global-trend/articleshow/113395706.cms">What’s with all “Unbossing” talks?</a> Now, lo and behold, we've got a new trend straight from the minds of Silicon Valley's finest: <keyword id="23219793" type="General" weightage="100" keywordseo="founder-mode" source="Orion">Founder Mode</keyword>. It's like a superhero cape for CEOs but without the spandex. <keyword id="20064348" type="General" weightage="20" keywordseo="Y-Combinator" source="keywords" meta.keywordsubtype="org" meta.entityname="Y Combinator" meta.hostid="261" meta.entityid="Y Combinator">Y Combinator</keyword> co-founder <keyword id="20555672" type="General" weightage="20" keywordseo="Paul-Graham" source="keywords">Paul Graham</keyword>, inspired by Airbnb CEO Brian Chesky’s talk at an event, penned a blog post about Founder Mode and it got the entire startup world talking. According to Graham, when Chesky scaled Airbnb, he initially followed the widely accepted strategy: hiring skilled professionals and giving them autonomy. However, this approach felt like running a marathon in flip-flops, it simply didn’t yield the desired results. So, he decided to go full-blown "Founder Mode," which is basically being the CEO, the janitor, and the motivational speaker all at once. <div type="image" title="Paul Graham’s blog post went viral" msid="113456577" hostid="261"></div> Graham’s post points out that this experience is not unique to Chesky — many other founders have faced similar challenges and come to similar conclusions. The result is a growing recognition of ‘Founder Mode’. <h2><keyword id="23219794" type="General" weightage="20" keywordseo="what-is-founder-mode" source="Orion">What is Founder Mode</keyword>?</h2>Founder mode is a mindset that allows entrepreneurs to remain deeply involved in their companies’ day-to-day operations, even as they scale. As we have seen in many Hollywood movies and real-world examples like Jobs, Musks, Zuckerbergs, and Murthys, founders operate (a bit too) differently from trained executives and managers. They're like the kids who built their own fort and refuse to let anyone else touch it. On a serious note, anecdotal evidence does support that founders focus on the vision, processes, and details of the business in ways that managers typically do not. Graham's post suggests that it’s a different way of running a company — one that involves a hands-on approach to leadership, where founders engage with more than just their direct reports. <div type="image" title="Founders are different from managers" msid="113456522" hostid="261"></div> Unlike traditional corporate structures, where the top management is expected to delegate and step back, Founder Mode requires more personal involvement. Basically, when the CEO of a company is in Founder Mode, where founders bypass layers of management to interact directly with lower-level employees, they can just walk over to a junior employee and ask “What’s up?”, something that <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword> reportedly has been doing for a while. One of the core aspects of Founder Mode, according to Graham, is that founders can make decisions with a level of intuition and insight that professional managers often lack. This is largely because they’ve built the company from the ground up and have an intimate understanding of its operations, culture, and customers. In contrast, professional managers are typically brought in to optimise and scale systems that are already in place, which might often lead to decisions that feel disconnected from the original vision of the company. <h2>Steve Jobs and Apple: The classic example of Founder Mode</h2> <div type="image" title="Many experts agree that Steve Jobs is a peak example of Founder Mode" msid="113456730" hostid="261"></div> A key example that Graham used is Steve Jobs, who famously ran Apple with an almost obsessive focus on product and design. Jobs didn’t simply delegate these responsibilities to his team; he was known for being involved in the minutiae, often directly challenging decisions and leading initiatives that others might consider too detailed for a CEO. Graham drew a parallel between this approach and what Chesky realised at Airbnb — that stepping back too much can actually harm the company. Founders, Graham wrote, are often “gaslit” into believing that they should adopt a more hands-off style, only to see their businesses suffer as a result. However, many experts also believe that Founder Mode is often disastrous for companies, except for rare examples, and a balance between founder and manager modes is necessary. <h2>Founder Mode VS Manager Mode: Experts weigh in on the debate</h2> <div type="image" title="Debates around Founder Mode have been rampant across social media since the beginning of this month" msid="113456800" hostid="261"></div> Debates around Founder Mode have been rampant across social media since the beginning of this month when Graham’s blog post came out. The philosophical divide between Founder Mode and Manager Mode often compels people to choose sides, while industry veterans and experts say that it’s important to understand both approaches and companies must try to achieve a balance between them. Sonica Aron, Founder of HR advisory firm Marching Sheep, recognises the importance of managers and says that it is important to have good people in the team and empower them. Talking to Business Insider India, she says, “As a founder, I find myself to be very purpose driven and passionate about my firm. As a result, sometimes decisions tend to get driven by the heart rather than the mind. Therefore it is essential to have bright and committed people in your team, empower them, involve them in decision making. Also, as the founder, I am responsible not just for the health of my business but overall well being of my team. If they do well, we all do well.” On the other hand, Mr. Srinivasa Addepalli, founder and CEO of GlobalGyan Leadership Academy, feels that the debate of Founder Mode vs Manager mode shouldn’t exist in the first place. He told Business Insider India that according to him, “all good leaders, whether startup founders or corporate executives, must be capable of both modes and switch between them depending on the context.” He added, “The Founder Mode leader tackles problems with passion and ownership, without concern for hierarchy, precedents, or due process. However, founders must remain humble about their fragility. To ensure sustainability, the Manager Mode—focused on developing others, building structures, and codifying knowledge—becomes essential, even as it requires them to relinquish some control and accept inefficiency. For instance, Steve Jobs’ decision to set up Apple University was a classic Manager Mode action by one of the best-known founders.” Ayush Singh, Founder of MaplePods, a smart-technology business, says, “Founder Mode may inspire new entrepreneurs, but seasoned founders know building something meaningful and scalable requires more than motivation—it's about solving problems, staying resilient, and seeking real support along the journey.” <h2>The downsides of Founder Mode</h2>While there are many people who believe that entering Founder Mode is healthy, some experts argue otherwise. They say that since founders are deeply connected to their vision, staying too hands-on can lead to micromanagement and hinder the growth of a leadership team. This creates a culture of dependency and can cause chaos when a founder steps into too many areas, leading to inefficiency and fear among employees. Mr. Ankit Aggarwal, founder and CEO of Unstop, told Business Insider India, “While Founder Mode can foster an entrepreneurial culture and drive rapid growth, it comes with significant challenges related to scalability, accountability, and founder burnout. As companies scale, Founder Mode can lead to bottlenecks, as founders may find it difficult to delegate. This limits the development of a strong leadership team and may stifle creativity from other employees.” Further, he adds that intense involvement can lead to founder burnout, negatively affecting both the individual and the company. “In the long run, while Founder Mode may work for early-stage <keyword id="6362513" type="General" weightage="20" keywordseo="startups" source="Orion">startups</keyword>, founders must recognise when to step back and 'devolve'. Devolving to allow the company to grow through more traditional structures, without succumbing to excess hierarchy. Balancing innovation with scalability is key to long-term success, allowing founders to focus on strategy while empowering their teams.” Meanwhile, Aleksandr Yampolskiy, cofounder and CEO of SecurityScorecard, said in a LinkedIn article that the Founder Mode has both pros and cons. He highlighted the value of founder mode in providing visionary leadership and empowering CEOs to challenge their teams and boards when necessary. However, Yampolskiy also wrote that overstepping and micromanaging can create chaos and a culture of fear. He said that founders must learn to evolve with the company’s growth, delegating and making themselves dispensable over time. <h2> Why are people talking about Founder Mode now?</h2> <div type="image" title="Why are people talking about Founder Mode?" msid="113456851" hostid="261"></div> So, why did Graham’s blog post go viral and why are people talking about Founder mode? Discussions around Founder Mode vs Manager Mode might have been around for a long time, but Graham’s post helped a great deal in popularising the confusion that millions of founders go through. Risa Mish, a management professor at Cornell University’s Johnson College of Business, told Observer that it is “no surprise that Graham’s message has resonated with founders for whom the conventional wisdom hasn’t worked.” “It comes down to something very basic, which is that one size never fits all.” Do you have insights or personal experience to share on start-ups or latest corporate buzzwords? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: Founder Mode — the secret sauce to startup success or fancy term for hustle and micromanagement?

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello! Welcome back to our Sunday edition, a roundup of some of our top stories. Ever wonder how much money you need to make to be considered middle <a target="_blank" href="https://www.businessinsider.com/upper-class-income-cutoff-wealth-middle-class-washington-dc-henrys-2024-5">class</a>? What about the <a target="_blank" href="https://www.businessinsider.com/upper-class-income-cutoff-wealth-middle-class-washington-dc-henrys-2024-5">incomes of the upper class</a>? We <a target="_blank" href="https://www.businessinsider.com/upper-middle-lower-class-income-wealth-poverty-new-york-census-2024-5">crunched the numbers</a>.On the agenda:<ul><li>How Oracle's biggest-ever acquisition <a target="_blank" href="https://www.businessinsider.com/oracle-cerner-health-larry-ellison-28-billion-deadly-gamble-veterans-2024-5">turned deadly</a>.</li><li>Robots and AI might just be <a target="_blank" href="https://www.businessinsider.com/conceivable-automating-ivf-fertility-robots-ai-startup-2024-5">the future of IVF</a>.</li><li>Millennials are <a target="_blank" href="https://www.businessinsider.com/millennials-retiring-early-fire-movement-financial-independence-millionaire-savings-work-2024-5">redefining the FIRE movement</a>.</li><li>Neighborhoods have really <a target="_blank" href="https://www.businessinsider.com/america-dumb-neighborhood-names-real-estate-rebrands-cities-apartments-development-2024-5">dumb names these days</a>.</li></ul>But first: OpenAI's in the spotlight (again).If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" href="https://www.insider.com/app">here.</a><h2 id="e315fe86-3322-4db2-90d7-81d7d862c4a8">This week's dispatch</h2>When OpenAI's <a target="_blank" href="https://www.businessinsider.com/openai-gpt4o-launch-ai-new-best-friend-sam-altman-chatgpt-2024-5">GPT-4o </a>started chatting during the AI startup's <a target="_blank" href="https://www.businessinsider.com/openai-event-live-updates-sam-altman-announcement-chatgpt-news-2024-5">livestream event</a>, I was immediately reminded of "Her," the Spike Jonze movie from a decade ago. I wasn't the only one. Scarlett Johansson, who voiced the AI Samantha in that movie, said last week that <a target="_blank" href="https://www.businessinsider.com/scarlett-johansson-angry-chatgpt-voice-declined-offer-openai-sam-altman-2024-5">she had hired lawyers</a> after she heard GPT-4o using a voice that sounded "eerily similar" to her own. This was after Sam Altman tried to hire her to <a target="_blank" href="https://www.businessinsider.com/scarlett-johansson-angry-chatgpt-voice-declined-offer-openai-sam-altman-2024-5">voice the AI bot, and she declined. </a>OpenAI paused the voice, saying a different actress was behind it, and that the voice was cast before Altman reached out to Johansson. That one of the AI voices sounds a great deal like a Hollywood star who declined to work with OpenAI is <a target="_blank" href="https://www.businessinsider.com/openai-scarlett-johansson-voice-defense-sam-altman-washington-post-chatgpt-2024-5">purely coincidental</a>. OK!It's not a good look for OpenAI, which is facing continued questions over its truthfulness right as it tries to become a <a target="_blank" href="https://www.businessinsider.com/openai-scarlett-johansson-sam-altman-chatgpt-disaster-why-2024-5">fixture in all of our lives</a>.Alphabet CEO Sundar Pichai said OpenAI might have <a target="_blank" rel="noopener" href="https://www.businessinsider.com/sundar-pichai-openai-breached-youtube-terms-train-sora-2024-5">breached YouTube's terms</a> when training its Sora model. Authors are <a target="_blank" rel="noopener" href="https://www.businessinsider.com/openai-destroyed-ai-training-datasets-lawsuit-authors-books-copyright-2024-5">taking legal action</a> over breach of copyright. There have been multiple <a target="_blank" rel="noopener" href="https://www.businessinsider.com/sam-altman-openai-glory-days-ending-problems-chatgpt-2024-5">high-profile departures</a> in recent months.Six months on from his brief ouster as CEO, Altman is under pressure again.<div type="image" title="Larry Ellison" height="1000" width="2000" msid="110440678" hostid="261" sizebytes="197650"></div><h2 id="13dc2e63-40ad-4acd-8b2a-94db0cc7a6b6">Oracle's deadly gamble</h2>Larry Ellison bet $28 billion that he could revolutionize healthcare. With the purchase of medical-records company Cerner, the billionaire planned to pump its vast trove of medical data into Oracle's AI models and develop an electronic health record system of the future. So far, it's been a disaster.<a target="_blank" href="https://www.businessinsider.com/oracle-cerner-health-larry-ellison-28-billion-deadly-gamble-veterans-2024-5">Inside Ellison's disastrous bet on healthcare</a>.<div type="image" title="Conceivable Life Sciences" height="560" width="1118" msid="110440680" hostid="261" sizebytes="45432"></div><h2 id="320be494-865e-4ab4-b8d6-ef805f065a02">The future of fertilization</h2>Conceivable Life Sciences, a startup in Guadalajara, Mexico, is building robots and AI models to automate crucial parts of IVF. Though they're just in the prototype stage, the robots can suck sperm into needles and place them into eggs.The cofounders say automation will challenge an industry rife with arbitrary decision-making — and it could wind up saving patients tens of thousands of dollars. <a target="_blank" href="https://www.businessinsider.com/conceivable-automating-ivf-fertility-robots-ai-startup-2024-5">Here's how it works</a>.<div type="image" title="Illustration of a man distracted at work on a gold course." height="2000" width="4000" msid="110440682" hostid="261" sizebytes="199566"></div><h2 id="c00b4c10-ed66-4e49-aeee-9762feccf0de">FI, not RE</h2>For some millennials, the FIRE movement — financial independence, retire early — isn't just about riding off into the sunset early. A portion of the generation is focused more on financial independence than cutting out work completely. The result means they can create their own version of life after work.<a target="_blank" href="https://www.businessinsider.com/millennials-retiring-early-fire-movement-financial-independence-millionaire-savings-work-2024-5">Millennials throw some cold water on FIRE</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/early-retiree-shares-money-moves-strategies-achieve-financial-independence-fire-2024-5">An early retiree shares 3 money moves he made to save seven figures, quit work at 48, and still live comfortably: 'You don't have to live on ramen'</a></li><li><a target="_blank" href="https://www.businessinsider.com/early-retiree-saved-too-much-in-401k-financial-independence-strategy-2024-5">A 50-year-old retiree says his 'biggest mistake' was saving too much in his 401(k)</a></li><li><a target="_blank" href="https://www.businessinsider.com/how-an-early-retiree-invested-his-money-to-create-wealth-2024-5">An early retiree shares the advice he received in his early 20s that helped him retire at age 48</a></li></ul><div type="image" title="Street sign that says &quot;Welcome to WeLoNoBroSoWa&quot;" height="650" width="1300" msid="110440684" hostid="261" sizebytes="54184"></div><h2 id="14d71008-b99c-492f-91ef-3354a5de5b3a">Welcome to DumBro</h2>Cities on the rise have a weird trend these days: Really dumb neighborhood names. Take Denver, where you can find RiNo, SoBo, LoDo, and LoHi. Two-syllable names for neighborhoods used to be an oddity.But now it's become a full-blown epidemic as builders try to redevelop portions of cities into their image. And it's not just an innocent name game. Oftentimes it's about erasing the history — and pushing residents out — of the original neighborhood.<a target="_blank" href="https://www.businessinsider.com/america-dumb-neighborhood-names-real-estate-rebrands-cities-apartments-development-2024-5">The great neighborhood renaming</a>.This week's quote:"I channeled a thick-skinned character who thrived in a man's world."— Lindsay MacMillan, a former Goldman Sachs VP who was <a target="_blank" href="https://www.businessinsider.com/women-leaving-goldman-sachs-boys-club-why-i-quit-2024-5">driven out by the company's "boys only" culture</a>.<h2 id="a4a20687-c2b5-4eca-b5f4-c89728a89254">More of this week's top reads:</h2><ul><li>These are the top 15 <a target="_blank" href="https://www.businessinsider.com/united-states-best-places-to-live-cheaper-homes-quality-life-2024-5">places to live in the United States</a>.</li><li>Baby boomers have been America's <a target="_blank" href="https://www.businessinsider.com/us-recession-baby-boomer-consumer-spending-downturn-retirement-hard-landing-2024-5">secret weapon for fending off recession</a>.</li><li>Homes on Nantucket are falling into the ocean — but the <a target="_blank" href="https://www.businessinsider.com/nantucket-homes-wealthy-falling-into-ocean-erosion-climate-2024-5">wealthy won't stop buying them</a>.</li><li>Companies are "unbossing" the workplace. <a target="_blank" href="https://www.businessinsider.com/companies-are-unbossing-workplaces-and-millennials-are-at-risk-2024-5">Millennial managers are getting axed</a>.</li><li>How Khaby Lame, the world's most-followed TikToker, <a target="_blank" href="https://www.businessinsider.com/khaby-lame-business-biggest-tiktok-creator-in-the-world-2024-5">built his business</a>.</li><li>Deleting Slack and Gmail helped one woman <a target="_blank" href="https://www.businessinsider.com/deleting-gmail-slack-phone-entrepreneur-parent-2024-5">become a better parent — and worker</a>. </li><li>Google AI said to put glue in pizza — so <a target="_blank" rel="noopener" href="https://www.businessinsider.com/google-ai-glue-pizza-i-tried-it-2024-5">I made a pizza with glue and ate it</a>.The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/matt-turner">Matt Turner</a>, deputy editor-in-chief, in New York. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.</li></ul>

Neighborhoods have really dumb names these days

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter on May 23, 2024.</li></ul>Hello! Grilling season is here, so take <a target="_blank" href="https://www.businessinsider.com/how-to-make-the-best-grilled-chicken-tips-from-chef-2022-8">some tips from a chef</a> on the best ways to cook your chicken on the BBQ. And here's a bonus one just for newsletter readers: A little bit of high-quality extra virgin olive oil rubbed on the grill goes a long way.In today's big story, we're looking at the <a target="_blank" href="https://www.businessinsider.com/companies-are-unbossing-workplaces-and-millennials-are-at-risk-2024-5">thinning of Corporate America's middle management</a>, which is putting millennials and Gen Z at risk.What's on deck:<ul><li>Markets: Citi just got a costly lesson in <a target="_blank" href="https://www.businessinsider.com/citi-trader-fat-finger-flash-crash-trade-78-million-fine-2024-5">not double-checking your numbers</a>.</li><li>Tech: TikTok's <a target="_blank" href="https://www.businessinsider.com/tiktok-growth-gen-z-app-millennial-takeover-trends-youtube-2024-5">user base is getting older</a>, and that's good for its business.</li><li>Business: A new rating system to <a target="_blank" href="https://www.businessinsider.com/paragon-intel-track-ceo-performance-new-ratings-2024-5">judge a CEO's effectiveness</a>.</li></ul>But first, who's your manager?If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="49446034-3bc1-483d-9df2-24a059219ab2">The big story</h3><h2 id="5f0ab0c5-0aa1-4187-a665-3e209c87a050">The great "unbossing"</h2><div type="image" title="Legs in a circle with a blade" height="1000" width="2000" msid="110369377" hostid="261"></div>Hate your boss? Don't worry. They might not be around much longer.Middle managers are becoming an endangered species in Corporate America, with <a target="_blank" href="https://www.businessinsider.com/companies-are-unbossing-workplaces-and-millennials-are-at-risk-2024-5">some companies viewing the role as obsolete</a>, writes Business Insider's Lindsay Dodgson. Remote work, tech efficiencies, and a general push to cut costs have contributed to middle managers' demise.The immediate impact is being felt by millennials entering their middle-management era. It's another gut punch for a generation that seems to keep getting the short end of the stick.Having trouble buying a house? Try doing it without a job!But in the long term, the death of middle management will be felt beyond millennials.Gen Zers haven't hid their <a target="_blank" href="https://www.businessinsider.com/gen-z-might-kill-middle-management-2023-11">disdain for middle managers</a>. But successfully canceling their bosses means killing a primary source of mentorship and workplace guidance.That's a big gamble coming from a generation that needed to take classes on <a target="_blank" href="https://www.businessinsider.com/gen-z-taking-courses-send-emails-office-clothes-wsj-2023-6">making small talk and writing work emails</a>.<div type="image" title="Eraser erasing a drawing of a person in a suit" height="1000" width="2000" msid="110369380" hostid="261"></div>Middle managers have always been a bit of an easy target.We all know that person — or persons — at work whose job isn't abundantly clear. They seem busy, but you're never sure what they're actually doing. If your company were to make cuts, why not start there?It's a strategy Corporate America, particularly Big Tech, deployed in 2023. The "year of efficiency," as Mark Zuckerberg dubbed it, was all about flattening organizations, and <a target="_blank" href="https://www.businessinsider.com/middle-managers-layoffs-2023-meta-tech-companies-jobs-employment-2024-3">middle managers were the ones getting squished</a>.But dismissing the much-maligned middle managers as busybodies is misunderstanding <a target="_blank" href="https://www.businessinsider.com/middle-managers-great-flattening-organization-meta-tech-layoffs-firing-2023-3">their value to a company</a>.A buffer between employees and executives ensures the former meets the latter's expectations. That point is especially relevant when so many things are changing in the workplace, from the departure of boomers and the arrival of Gen Z to navigating return-to-office mandates.The death of middle managers could also fuel the current dismantling of another cohort: <a target="_blank" href="https://www.businessinsider.com/middle-class-lifestyle-six-figure-salary-economy-2024-5">the middle class</a>.Eliminating an entire management level means fewer earning opportunities for those looking to climb the economic ladder, which is already becoming increasingly difficult to do.<h2 id="55c989ef-c4ae-4edd-a336-4b681e46a253">3 things in markets</h2><div type="image" title="People walking on a sidewalk" height="1000" width="2000" msid="110369381" hostid="261"></div><ol><li>Jeffrey Gundlach believes winter is coming for the US economy. The billionaire investor said interest rates will stay elevated, <a target="_blank" href="https://www.businessinsider.com/recession-prediction-outlook-economy-company-failures-bankruptcies-gundlach-doubleline-rates-2024-5">tanking companies and ultimately leading the economy into a recession</a>. For the record, we're not in a recession, even though <a target="_blank" href="https://www.businessinsider.com/us-recession-americans-believe-economic-downturn-new-poll-unemployment-2024-5">most Americans seem to think that's the case</a>.</li><li>A fat-finger mistake led to a fat fine for Citi. In May 2022, a trader mistakenly tried executing a trade worth $444 billion, sparking a flash crash in European stocks. UK regulators <a target="_blank" href="https://www.businessinsider.com/citi-trader-fat-finger-flash-crash-trade-78-million-fine-2024-5">levied a $78 million fine against the bank on Wednesday</a>.</li><li>Blackstone is about to start granting stock to portfolio companies' employees. The Wall Street Journal reported that the investment firm plans to <a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/blackstone-stock-price-private-equity-steve-schwarzman-kkr-apollo-2024-5">give equity to workers</a> at most of the large US-based businesses it buys, following in the footsteps of other private equity giants like KKR.</li></ol><h2 id="174beec0-9591-423a-8eb4-ec3b9f7da6ff">3 things in tech</h2><div type="image" title="TikTok is for millennials now" height="1500" width="2000" msid="110369383" hostid="261"></div><ol><li>TikTok has a secret weapon: millennials. The app's millennial viewership is growing faster than its Gen Z audience. If TikTok can survive the US ban, its growing appeal to an older demographic <a target="_blank" href="https://www.businessinsider.com/tiktok-growth-gen-z-app-millennial-takeover-trends-youtube-2024-5">could make it even bigger and more powerful</a> than it already is.</li><li>Meta is considering paying media publishers for AI training data. Internal discussions are still in the early stages, according to two people familiar with the consideration. If it goes through, Meta would join rivals Google and OpenAI in <a target="_blank" href="https://www.businessinsider.com/meta-deals-news-publishers-ai-training-data-2024-5">making deals with publishers for their data</a>.</li><li>Another win for Nvidia. The tech giant <a target="_blank" href="https://www.businessinsider.com/nvidia-beats-estimates-says-chip-demand-ahead-of-supply-2024-5">knocked it out of the park</a> again on Wednesday when it posted better-than-expected quarterly sales figures. CEO Jensen Huang also touted strong demand for the firm's <a target="_blank" href="https://www.businessinsider.com/nvidia-demand-ai-chips-blackwell-hopper-ceo-jensen-huang-earnings-2024-5">Hopper and Blackwell chips</a>.</li></ol><h2 id="8d29852e-0505-44f5-bf62-8e4f40dc7c9e">3 things in business</h2><div type="image" title="House with a price tag" height="1500" width="2000" msid="110369385" hostid="261"></div><ol><li>There's a new way to rate CEOs. Paragon Intel, an alt data company, is rolling out executive ratings, which will show how executives fit into their firms and <a target="_blank" href="https://www.businessinsider.com/paragon-intel-track-ceo-performance-new-ratings-2024-5">whether they will drive stock gains</a>.</li><li>Target is missing the mark.The store's comparable sales have dropped for four straight quarters, and it's pulling out all the stops to avoid a fifth. That includes <a target="_blank" href="https://www.businessinsider.com/target-comparable-sales-down-four-straight-quarters-2024-5">cutting prices on thousands of items</a> — a move its CEO says will save shoppers millions this summer.</li><li>Buying a house is getting even more expensive. Median home prices climbed <a target="_blank" href="https://www.businessinsider.com/buying-a-house-keeps-getting-more-expensive-nar-report-2024-5">nearly 6% year-over-year to hit a record $407,600</a> in April, according to a new report from the National Association of Realtors. That's the 10th month in a row that prices have risen.</li></ol><h2 id="f22b8976-9221-48b2-99fa-e5f9c56f389d">In other news</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/financial-planner-richest-clients-same-habits-2024-5">I'm a financial planner, and my richest clients have the same 5 habits</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/humane-explores-sale-difficult-wearables-launch-ai-pin-billion-valuation-2024-5">Humane AI is reportedly looking for a buyer, just weeks after its disastrous wearables launch</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/early-retiree-shares-money-moves-strategies-achieve-financial-independence-fire-2024-5">An early retiree shares 3 money moves he made to save seven figures, quit work at 48, and still live comfortably: 'You don't have to live on ramen'</a></li><li><a target="_blank" href="https://www.businessinsider.com/apple-music-released-its-top-100-albums-list-sparking-debate-2024-5">Apple thinks it's figured out the top 10 albums of all time. That's kicked off debate among music fans.</a></li><li><a target="_blank" href="https://www.businessinsider.com/new-proposed-emoji-ios-android-phones-2025-2024-5">Check out 7 new emojis that could hit your iPhone next year, including a tired face with eyebags and a shovel</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/eric-schmidt-unplug-ai-with-free-will-2024-5">Ex-Google CEO Eric Schmidt just gave an unsettling answer about how to handle AI with free will</a></li></ul><h2 id="2d971553-4eb1-42be-80a3-1df8066f24af">What's happening today</h2><ul><li>The FAA expects today to be the busiest day for air travel since 2019.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, senior editor, in London. <a target="_blank" href="https://www.businessinsider.com/author/george-glover">George Glover</a>, reporter, in London.

Corporate America is going through a middle-management meltdown

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li><a href="https://www.novartis.com/our-company/executive-committee/vasant-narasimhan-en">Vas Narasimhan</a> took the reins at <a href="https://www.businessinsider.com/category/novartis">Novartis</a> early last year and has pushed to transform the Swiss drug giant into a cutting-edge, tech-savvy company. </li><li>And it's been working, Narasimhan told Business Insider in a Thursday interview, pointing to strong second-quarter <a href="https://www.novartis.com/investors/financial-data/quarterly-results">financial results</a> reported that day. </li><li>Culture has been a big push at <a href="https://markets.businessinsider.com/stocks/novartis-stock">Novartis</a>, which the Swiss drug giant tracks via tech platforms and plenty of data. </li><li>"I'd like to believe over time we'll keep showing that culture drives performance and culture drives innovation," Narasimhan said. "And the cultural transformation of Novartis will keep us at the cutting edge for years to come."</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul>Ever since <a href="https://www.novartis.com/our-company/executive-committee/vasant-narasimhan-en">Vas Narasimhan</a> first stepped into the CEO role at the Swiss drug giant <a href="https://markets.businessinsider.com/stocks/novartis-stock">Novartis</a> last year, he's been working to set the company on a new path. The goal was to reshape the Swiss pharma giant into the premier maker of cutting-edge new medicines, all powered by data and technological capabilities. Oh, and also to <a href="https://www.businessinsider.com/novartis-ceo-explains-un-bossing-culture-shift-jeans-at-work-2018-12">transform the culture</a>, push towards productivity, and build trust with society.So far it's working, though it'll ultimately be a five-year journey, Narasimhan told Business Insider, citing the company's strong financial results so far this year. After Novartis reported <a href="https://www.marketwatch.com/story/novartis-hikes-sales-operating-income-forecast-2019-07-18">second-quarter earnings</a> on Thursday, increasing its 2019 sales expectations and reporting growth in its second-quarter core operating income, the stock jumped, extending its climb this year to 26%."I've been pleased with how far we've come in 18 months," he told Business Insider on Thursday. "I wouldn't have expected we would have gotten as far as we have with what we call our 'curious, inspired, un-bossed culture.'" Never miss out on healthcare news. <a href="http://newsletter.businessinsider.com/join/health-insider">Subscribe to Dispensed</a>, our weekly newsletter on pharma, biotech, and healthcare.Narasimhan started as CEO in February 2018, after leading Novartis's global drug development and serving as chief medical officer. A Harvard-trained physician, the 43-year-old Narasimhan is the youngest CEO of a major drugmaker.He has emphasized the idea of employees being 'unbossed' and accountable to make decisions, as well as a more <a href="https://www.businessinsider.com/novartis-ceo-explains-un-bossing-culture-shift-jeans-at-work-2018-12">informal, jeans-wearing culture</a>. When Business Insider spoke with Narasimhan by phone on Thursday, he reported that he was wearing jeans, including to a television appearance on <a href="https://www.cnbc.com/video/2019/07/18/novartis-ceo-seeing-strong-sales-momentum-across-the-business.html">CNBC</a>. Under his leadership to date, Novartis has done major acquisitions, like of <a href="https://www.businessinsider.com/avexis-sma-gene-therapy-manufacturing-drove-9-billion-novartis-deal-2019-3">gene-therapy biotech AveXis,</a> while letting go of less-important businesses like the eye-care unit Alcon. The company also exited a <a href="https://www.businessinsider.com/glaxosmithkline-novartis-bought-out-of-joint-venture-for-13-billion-2018-3">consumer healthcare joint venture</a> with GlaxoSmithKline. All told, the shift has included more than $60 billion in deals. Read more: <a href="https://www.businessinsider.com/novartis-avexis-president-dave-lennon-on-zolgensma-price-backstory-2019-5">A top executive at Swiss drug giant Novartis told us the inside story of the $2.1 million price tag for the most expensive drug in the world</a>Novartis has also sought to put other parts of its history behind it, like a government lawsuit alleging that the pharma giant paid lavish kickbacks to push its drugs, which the company just allocated <a href="https://www.wsj.com/articles/novartis-sets-aside-700-million-to-settle-bribery-allegations-11563447810?shareToken=st0a7d5eae598a436889cdec68237245a1">$700 million to settle</a>.<h2>Changing a culture armed with jeans, technology, and lots of data<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div></h2>Drug companies, especially large ones, are famously bureaucratic and slow-moving. That's important when your work is to make life-changing medicines, but it can challenge things like innovation and uptake of new technologies. A crucial part of transforming a big, global company like Novartis has been shifting the culture, Narasimhan says. "And I'd like to believe over time we'll keep showing that culture drives performance and culture drives innovation," Narasimhan says. "And the cultural transformation of Novartis will keep us at the cutting edge for years to come." Read more: <a href="https://www.businessinsider.com/novartis-ceo-explains-un-bossing-culture-shift-jeans-at-work-2018-12">The CEO of Novartis wants to 'un-boss' the $230 billion pharma giant, and he's starting with letting employees wear jeans to work</a>Narasimhan says he's seeing that push for a more comfortable work environment play out on external and internal social media platforms.One example is Microsoft's <a href="https://products.office.com/en-us/yammer/yammer-overview">Yammer</a> platform, which Novartis uses internally and has had "huge engagement from the executives down to the lowest levels of the company, which creates a tremendous energy and buzz," he said. "And we're trying to really reach and get the organization to believe the culture leadership journey that we're on."But he also described leadership as the company's biggest challenge. Novartis employs more than 100,000 people worldwide, including 15,000 managers.Each has to "learn that they create a micro-culture wherever they lead," Narasimhan said. "If people perceive a great climate overall at the company but at the little place where they are in the company they feel something very different, that's a frustrating experience. And so that will take time."The Swiss drug giant has employed data and technology toward that ambition, measuring both manager and company performance with heavy use of system called <a href="https://www.businessinsider.com/linkedin-buys-glint-for-400-million-2018-10">Glint</a>, owned by Microsoft's LinkedIn, where individuals can see how they score on different parameters as compared with average managers at the organization. <ul class="read-more-links"><li>Read more:</li><li><a href="https://www.businessinsider.com/novartis-ceo-explains-un-bossing-culture-shift-jeans-at-work-2018-12">The CEO of Novartis wants to 'un-boss' the $230 billion pharma giant, and he's starting with letting employees wear jeans to work</a></li><li><a href="https://www.businessinsider.com/novartis-ceo-vas-narasimhan-on-ma-and-taking-earlier-risks-on-new-technology-2018-12">The CEO of $230 billion pharma giant Novartis explains why he's not scared of buying biotechs at an earlier - and riskier - stage</a></li><li><a href="https://www.businessinsider.com/what-tech-entrepreneurs-need-to-learn-before-getting-into-healthcare-2019-7">How 2 top leaders at Google's $4.5 billion venture arm prepare tech entrepreneurs to jump into the 'screwed up' US healthcare industry</a></li><li><a href="https://www.businessinsider.com/sanofi-chief-digital-officer-ameet-nathwani-pitfalls-of-tech-pharma-2019-7">Using apps to treat diseases could be the future of healthcare. The first chief digital officer at pharma giant Sanofi told us his strategy for navigating the promises and pitfalls.</a></li></ul><a href="https://www.businessinsider.com/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health"></a>

Pharma giant Novartis has been on a tear. CEO Vas Narasimhan told us how wearing jeans to work is helping transform the Swiss company.

<div class="KonaFilter image-container display-table"><div><div class="image on-image">iStock; Samantha Lee/Business Insider</div></div></div>Hello,Welcome to Dispensed, a new email containing the biotech, pharma, and healthcare stories that kept Business Insider's healthcare team busy this week. For those of you who've followed my previous newsletter, <a href="https://tinyletter.com/lydiaramsey">Drug Developments</a>, never fear! This will feel the exact same way, just sent through Business Insider rather than independently - and with a much cooler name. It'll still come out on Fridays as a way to recap the week.New to the newsletter? You <a href="http://newsletter.businessinsider.com/join/4np/health-insider&amp;hash=f4e91136c13f3c40c496d77bc7347502">can sign up here</a>. And boy was it a week. For starters, <a href="https://twitter.com/emmarcourt">Emma Court</a> joined our team on Monday! Based in NYC, she'll be working alongside me, West Coast correspondent <a href="https://twitter.com/erbrod">Erin Brodwin</a> and our editor <a href="https://twitter.com/ZTracer">Zach Tracer.</a>Not sure who to reach out to on a topic? Feel free to find us all at healthcare@businessinsider.com. On the news side too, there were some exciting developments. On Friday alone, we witnessed the biggest initial public offering in biotech history after Moderna priced at $23 a share, <a href="https://www.businessinsider.com/biotech-moderna-prices-initial-public-offering-2018-12">raising more than $600 million</a>. <h3><a href="https://www.businessinsider.com/moderna-therapeutics-biotechnology-initial-public-offering-record-2018-12">Moderna is sliding in its Wall Street debut after the biggest IPO in biotech history</a></h3><ul><li>Moderna Therapeutics started trading Friday in its initial public offering under the ticker "MRNA."</li><li>It raised more than $600 million in the biggest IPO in biotech history, selling shares at $23 each.</li><li>Moderna's stock declined in its trading debut on Friday.</li><li>Moderna is developing medical treatments based on messenger RNA, and the company is still in the early days of human trials for its treatments.</li></ul>I also took some time these past few weeks to dive into the urgent care market, whose offices are seemingly turning up in every neighborhood in the US.The move toward convenience is making everyone from hospitals to health insurers pay attention. <h3><a href="https://www.businessinsider.com/urgent-care-is-changing-how-americans-access-healthcare-2018-11">The doctor who founded CityMD and sold it for $600 million explains how a new kind of medical clinic is changing how Americans get healthcare</a></h3><ul><li>Urgent-care centers have become an increasingly popular way to get healthcare in the US.</li><li>Big players - from health plans to hospital systems to private-equity investors - all want in on urgent care, which grew by 25% between 2014 and 2017.</li><li>The growth is coming at a time when the way Americans access healthcare is changing.</li></ul>As part of it, I chatted with CityMD CEO Richard Park, who <a href="https://www.businessinsider.com/citymd-co-founder-on-opening-urgent-care-in-queens-2018-12">walked me through his decision to open up an urgent care site in Jackson Heights, Queens</a>, even though it ended up losing millions. In pharma, I had a standing-desk-style meeting with Novartis CEO Vas Narasimhan at the Forbes Healthcare Summit last week. Here were some of the highlights from our chat:<ul><li><a href="https://www.businessinsider.com/novartis-ceo-vas-narasimhan-on-ma-and-taking-earlier-risks-on-new-technology-2018-12">The CEO of $230 billion pharma giant Novartis explains why he's not scared of buying biotechs at an earlier - and riskier - stage</a></li><li><a href="https://www.businessinsider.com/novartis-ceo-explains-un-bossing-culture-shift-jeans-at-work-2018-12">The CEO of Novartis wants to 'un-boss' the $230 billion pharma giant, and he's starting with letting employees wear jeans to work</a></li></ul>Emma's first official BI byline was a story about the latest development from AbbVie's Stemcentrx acquisition. <h3><a href="https://www.businessinsider.com/abbvie-stopped-a-phase-3-trial-after-its-stemcentrx-drug-flopped-2018-12">A cancer drug that AbbVie acquired in a $10 billion deal is looking more and more like a failure</a></h3><ul><li>AbbVie acquired the buzzy cancer drug Rova-T in a 2016 deal worth up to $10.2 billion.</li><li>But the company just stopped enrolling a late-stage trial at an independent committee's recommendation because patients had shorter survival results on the drug.</li><li>Wall Street had already been lowering its expectations for <a href="https://www.businessinsider.com/stemcentrx-a-silicon-valley-venture-backed-acquisition-for-a-cancer-drugmaker-update-2018-6">Rova-T earlier this year.</a></li></ul>And Zach and Erin tackled an interesting story coming out of the DNA space about a startup that wants to pay for your genetic code. <h3><a href="https://www.businessinsider.com/lunadna-pays-for-genetic-information-2018-12">A tiny startup wants to pay you for your DNA, and it could lead to the next wave of medical innovation</a></h3><ul><li>A startup called LunaDNA is taking a new approach to genetic research by paying individuals to share their information with scientists.</li><li>Right now, some DNA testing companies already sell your genome for medical research, though you can usually opt out.</li><li>You probably won't get rich off your DNA. LunaDNA estimates the value of your whole genome at $21, for now.</li></ul>Zach and the graphics team also mapped out the <a href="https://www.businessinsider.com/how-much-income-people-spend-on-health-coverage-in-every-state-commonwealth-fund-2018-12">percentage of income devoted to healthcare spending in each state</a>. Definitely makes me want to move away from NYC...<div class="KonaFilter image-container display-table"><div><div class="image on-image">Shayanne Gal/Business Insider</div></div></div>More ahead now that the team is fully assembled! I'm going to be out in Seattle for the first half of next week learning more about the health and tech developments taking place in the area. If there's folks I should be meeting while I'm out there, please let me know - my days are pretty full, but still on the hunt for breakfast and dinner companions. Tips, things we missed while waiting for Moderna to start trading, or - perhaps importantly - suggestions for places to go/eat in Seattle while I'm out there next week? Find me at lramsey@businessinsider.com. And don't forget to <a href="http://newsletter.businessinsider.com/join/4np/health-insider&amp;hash=f4e91136c13f3c40c496d77bc7347502">sign up for the newsletter!</a>- Lydia<a href="http://www.businessinsider.com/intelligence/ai-in-us-healthcare?IR=T&amp;utm_source=businessinsider&amp;utm_medium=ctgr&amp;utm_term=ctgr_leadgen&amp;utm_content=dhealth_ctgr_leadgen&amp;utm_campaign=dhealth_ctgr_leadgen_ai_in_us_healthcare"></a></hr> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/most-impressive-animal-dads-father-seahorse-penguin-2018-11">Some animal fathers are impressive parents, like seahorse dads who give birth to 2,000 babies</a></h3> <div> </div> </div>

You Searched For "Unbossing" and got 11 results

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