September 08, 2018
Elon Musk may have been one of the few chief executives ever seen with marijuana in an online video interview. But as the legalization movement gains steam, he joins other business leaders who have been open about using cannabis.
Can CEOs Get Away With Smoking Pot?
The Tesla Inc. chief executive provoked an internet sensation and a tumble in the electric-car maker’s share price after taking a puff from what was described as a marijuana cigarette this week on “The Joe Rogan Experience,” a popular podcast streamed live on YouTube. “I mean, it’s legal right?” Mr. Musk said from the Los Angeles studio where the interview was filmed. “Totally legal,” replied Mr. Rogan, the comedian who hosts the show.
Mr. Musk—who added that he “almost never” smokes weed and didn’t find it helpful for productivity—is hardly the first CEO to discuss trying or using marijuana. Virgin Group founder Richard Branson and the late Steve Jobs acknowledged indulging in recreational marijuana at some point. George Zimmer, founder and former chairman of Men’s Wearhouse Inc., said he has been a cannabis user for decades and, in 2015, he gave a keynote speech at the Cannabis World Congress & Business Exposition advocating marijuana legalization. Meanwhile, other business luminaries, such as George Soros and Bill Gates, have been public in their support for initiatives to legalize marijuana.
Still, context is everything, and whether chief executives can openly admit marijuana use without facing repercussions—such as losing their jobs—depends largely on the culture and the constituencies of the companies they run, CEO coaches and executive recruiters say.
“Old-school executives have made much worse decisions over two-martini lunches than anyone is making because of smoking marijuana every once in a while,” said Jeffrey Cohn, global managing partner at DHR International, an executive-search firm. That said, he added, “it would be a lot different for [an older-company CEO] to be doing that than a startup founder” like Mr. Musk.
Indeed, many of the limited number of CEOs on record for having dabbled in marijuana use have been company founders like Messrs. Jobs and Branson, as opposed to corporate chieftains promoted to the helm. Having that visionary aura—and a greater influence over their company’s board of directors--may give them more license to discuss what they consume in private, Mr. Cohn said.
Can CEOs Get Away With Smoking Pot?
Mr. Zimmer, who was ousted from his position as executive chairman of Men’s Wearhouse in 2013 amid clashes with his successor as CEO, said that even as marijuana use becomes more socially acceptable, leaders of publicly traded companies like Tesla still have to be careful in openly discussing marijuana use.
“I would advise Mr. Musk to go slowly in his [talk about marijuana] because it’s probably a couple of years still before the culture has really shifted on this,” said Mr. Zimmer, who has since founded Generation Tux, an online tuxedo- and suit-rental company.
More problematic for Mr. Musk is the timing with Tesla’s other challenges, said Jonathan Bernstein, president of Bernstein Crisis Management. The podcast during which Mr. Musk took a puff was his first public appearance since dropping a controversial attempt to take the company private and came amid production challenges and questions about his behavior.
Mr. Bernstein added that while the social stigma around marijuana use is shrinking, boards of directors are scrutinizing their CEOs’ private lives and behavior more closely, particularly in the age of social media and the #MeToo movement. Chief executives “have to realize that nothing they do in private is necessarily private,” Mr. Bernstein said.
Even in California, where Tesla is based, and other states where marijuana use is legal, many companies also have code-of-conduct policies that forbid working under the influence of drugs or alcohol. Tesla’s own policy says use of illegal drugs in the workplace won’t be tolerated.
At the least, a CEO’s marijuana use can create an appearance of conflict with a company’s corporate values, said Keith Goudy, managing partner of Vantage Leadership Consulting, a Chicago-based executive coaching firm. “If a CEO gets to smoke marijuana, but people assembling heavy machinery at the company don’t, what does that say?” he said.
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DUBLIN, March 18, 2024 /PRNewswire/ -- The "Vehicle to Grid (V2G) Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering. World revenue for Vehicle-to-Grid (V2G) Market is forecast to surpass US$ 4.31 billion in 2024, with strong revenue growth through to 2034. Escalating Demand for Electricity, Coupled With a Global Commitment to Reduce Reliance on Fossil Fuels, Resulting in a Surge in the Adoption of Electric VehiclesThe vehicle-to-grid (V2G) market is witnessing unprecedented growth driven by a confluence of factors shaping the future of sustainable transportation and power management. Key drivers include the escalating demand for electricity, coupled with a global commitment to reduce reliance on fossil fuels, resulting in a surge in the adoption of electric vehicles (EVs). This market is characterized by opportunities that lie in the integration of renewable energy sources, such as solar and wind, to meet energy demands, while also addressing challenges associated with the variable nature of these sources.The primary driver for the V2G market is the escalating demand for electricity worldwide. Governments and industries are increasingly recognizing the need for sustainable and low-emission solutions, driving the widespread adoption of EVs. The electrification of the transportation sector not only addresses environmental concerns but also provides a unique opportunity for EVs to serve as mobile energy storage units. This bidirectional flow of power, where EVs can both draw and supply energy to the grid, is a key driver propelling the V2G market forward.Opportunities in the V2G market are abundant, particularly in the integration of renewable energy sources. As countries strive to meet ambitious renewable energy targets, V2G technology becomes an enabler for managing the intermittent nature of solar and wind power. This creates opportunities for smart grid solutions and advanced energy storage systems. Additionally, the idle times of parked EVs present an untapped opportunity for bidirectional ...Full story available on Benzinga.com
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Competition Receives a Record Number of Submissions that Highlight the Power of Innovation SHENZHEN, China, March 19, 2024 /PRNewswire/ -- SkyPixel, one of the world's most popular online communities for aerial photography and videography, today announces the winners of the SkyPixel 9th Annual Photo & Video Contest. Co-organized with DJI, this year's competition attracted over 130,000 submissions – a 100% increase from the previous year. The contest welcomed submissions from across the creator community, which includes professionals, aerial enthusiasts, and creative newcomers, showcasing their personal histories through the art of visual innovation. A Contest Shaped by You The SkyPixel Annual Photo & Video Contest is a testament to the power of innovation led imagery, honoring stories that shape the art of image capture both on solid ground and amidst the clouds. SkyPixel has cultivated a community-driven platform that reflects the dreams and aspirations of creators worldwide, and the annual competition has been a conduit for people who love image creation to express themselves as it authentically reflects the desires and aspirations of creators worldwide. Industry-Leading Judges The 9th Annual Photo & Video Contest was assessed by a Judging Panel of incredible professionals in the industry. In photography, seasoned experts include Wen Huang, a World Press Photo judge and Senior Editor, and Anne Farrar, Assistant Photography Chief Editor at National Geographic, Nan Li, the Photo Director of Southern Weekly, and Daniel Kordan, a renowned landscape photographer. In the video category, the judges include Michael Fitzmaurice, the Aerial Director of Photography of "Jumanji: Welcome to the Jungle," and Xiaoshi Zhao, known for his award-winning work on "Forever Enthralled." Bing Xi, a prominent figure in the Chinese TVC industry, and celebrated filmmaker Brandon Li round out the panel. After careful deliberation, the panel proudly presents the final winners for the year. 9th Annual Best Work Prize – Video: "Haines Alaska Through the Eyes of Luke Bredar" by Luke Bredar This year's video judging panel, which includes award-winning Cinematographers and Directors of Photography, chose Luke Bredar's video, "Haines Alaska Through the Eyes of Luke Bredar." This short film mixes heart-pounding action shots of a skier racing down a snowy mountaintop landscapes with breathtaking shots of Alaska's mountainous, winter terrain. Luke Bredar details the thought process behind the short film, "The motivation behind creating this video was to evoke themes of otherworldliness, objective risk, the interplay between risk and the essence of human spirit, solitude, impermanence, self-sufficiency, and the journey of incomplete wandering intertwined with heartbreak." This short film is an epic story made in collaboration with Matchstick Productions. Bredar explains how he pursues a better visual presentation through his creative process "I think to myself. How would my child self want to see this filmed? And I almost always get a clear vision in response. There are a myriad of challenges shooting aerial cinematography in mountain environments, but they are all ...Full story available on Benzinga.com
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