The C-suites and boardrooms of America Inc. should be on high alert entering 2025. They are facing geopolitical turmoil, the uncertainty of a second Trump administration, an increasingly polarized country, and a public that's lost its faith in big business. Existential questions loom over the role of the country's biggest companies during such a tumultuous moment—and who is best to lead them through it.
These intersecting questions will drive the business world's biggest stories next year. Here's what I'll be watching:
CEOs versus Trump: CEOs were willing to act as a moral counterweight during the first Trump presidency, speaking out against actions that went against their purported values, such as the travel ban from Muslim-majority countries and the January 6 riots.
Expect things to look different during Trump 2.0. Most CEOs stayed silent during the campaign season, while some courted Trump behind the scenes and rushed to publicly congratulate him after his victory. Now the likes of Meta Platforms and Amazon.com are taking things a step further by donating to Trump's inaugural fund.
But I suspect the back-slapping and ego-stroking won't last four years. The questions will be: Where does Big Business draw its red lines, and how will it respond when Trump inevitably crosses them.
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