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FT and Schroders Business Book of the Year 2024 — the longlist

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FT and Schroders Business Book of the Year 2024 — the longlist

Books on Donald Trump’s finances and Bill Gates’ influence go head to head with titles about the challenges of artificial intelligence, the impact of demographic change and how business can do the right thing, in the race to be named Financial Times and Schroders Business Book of the Year.

Other titles vying to be judged the “most compelling and enjoyable” business book of 2024 range from the memoir of an investment bank trader to an in-depth exploration of the changing concept of the corporation, from an assessment of Amazon’s dominance to a powerful account of the tension between sustainability and resource demand.

More than 600 entries were filtered and reviewed by FT journalists. A longlist of 16 titles now remain in the running to become the 20th winner of the £30,000 award, which was first presented in 2005. Here they are:

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AI AND TECHNOLOGY

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Parmy Olson’s Supremacy: AI, ChatGPT and the Race that will Change the World, published next month, recounts the battle between OpenAI’s Sam Altman and DeepMind’s Demis Hassabis to develop the world-changing technology of generative AI, while also grappling with the ethical and commercial imperatives set by their respective backers at Microsoft and Google.

The Algorithm: How AI Can Hijack Your Career and Steal Your Future, by Hilke Schellmann, drills down into the impact of AI in the workplace, as an aid to recruitment and performance management. Schellmann warns how algorithms can amplify bias and cause more harm than good.

In The Everything War: Amazon’s Ruthless Quest to Own the World and Remake Corporate Power, Dana Mattioli takes a critical look at the influence of the dominant ecommerce and cloud computing company. Her book — echoing the title of Brad Stone’s The Everything Store (which won the award in 2013) — asks whether the group has become too big for regulators to stop.

Entrepreneur Raj Shah and technology strategist Christopher Kirchhoff tell the story of how they and others have shaken up US defence procurement in Unit X: How the Pentagon and Silicon Valley Are Transforming the Future of War. Shah and Kirchhoff turned to start-ups to revolutionise the way the US military is supplied and how war is fought.

The War Below: Lithium, Copper, and the Global Battle to Power Our Lives by Ernest Scheyder, goes to the heart of the dilemmas facing those who want to accelerate the shift to a more sustainable economy. Scheyder examines how the quest to mine critical minerals is setting policymakers, manufacturers, ecologists and scientists against each other.

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ECONOMICS

In Growth: A Reckoning, Daniel Susskind, whose timely book A World Without Work made the 2020 shortlist, turns his attention to the question of how to resolve the tension between the quest for growth at all costs — creating inequality and environmental damage — and the need to preserve what we value.

Andrew Scott returns to the question of how to cope with, and benefit from, improved life expectancy in The Longevity Imperative: Building a Better Society for Healthier, Longer Lives. Scott — co-author with Lynda Gratton of 2016 finalist The 100-Year Life — proposes ways to pursue an “evergreen agenda” that should help us to live sustainably and healthily for longer. 

In The Divine Economy: How Religions Compete for Wealth, Power, and People, Paul Seabright offers a novel economic analysis of religions. He describes them as the original platform organisations, rallying groups of users in mutually beneficial relationships just as Instagram or X do today, and points out how religious and secular groups can work together.

ORGANISATIONS

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Economist John Kay’s The Corporation in the 21st Century: Why (almost) everything we are told about business is wrong is a profound analysis of how the world of digital products and services is challenging the traditional view of the company. The book, out in late August, examines the future of what was once the pre-eminent organisational unit of capitalism, and how it and the wider economy are managed.

Alison Taylor picks up some of those challenges in Higher Ground: How Business Can Do the Right Thing in a Turbulent World, her guide for leaders struggling to balance clashing stakeholder demands, ESG investment requirements, and ethical questions that go far beyond the confines of their day-to-day business.

In Tribal: How the Cultural Instincts That Divide Us Can Help Bring Us Together, to be published in October, psychologist Michael Morris takes a deep and well-timed look at how leaders in business and politics can harness innate tribal instincts to positive effect, rather than allowing them to divide.

The Unaccountability Machine: Why Big Systems Make Terrible Decisions — and How The World Lost its Mind, by Dan Davies introduces readers to ubiquitous “accountability sinks” that allow responsible parties to avoid blame and therefore erode the foundations of society. Davies points to the ways in which mainstream economics supplanted the management theory of “cybernetics” that could have created a more positive outcome.

Robert Sutton and Huggy Rao outline a familiar picture of bureaucratic dysfunction in The Friction Project: How Smart Leaders Make the Right Things Easier and the Wrong Things Harder and offer plenty of practical ways that heroic “friction-fixers” can remove the grit of unnecessary meetings, overlong emails and poor management. But they also point to the importance of “good” friction in preventing hasty decision-making.

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BIOGRAPHY

The Trading Game: A Confession is Gary Stevenson’s vivid account of his time as a Citigroup swaps trader and the consequence. He made huge sums for his employer — and for himself — but also set himself on a path to burnout and the opposite of the freedom he had expected financial success to provide.

Billionaire, Nerd, Saviour, King: The Hidden Truth About Bill Gates and His Power to Shape Our World, by Anupreeta Das, published this month, takes a close and unflinching look at one of the world’s richest men in an attempt to disentangle Gates’ multiple complex interests and relationships, while at the same time exploring our obsession with billionaires.

Finally, Lucky Loser: How Donald Trump Squandered his Father’s Fortune and Created the Illusion of Success, by reporters Russ Buettner and Susanne Craig, investigates the former president’s finances. The book, due out in September, draws on tax information, business records and interviews with insiders to explore the truth behind Trump’s claims of having built a thriving multi-billion-dollar business empire. 

Entrepreneur and angel investor Sherry Coutu joins the judging panel for 2024. The jury is again chaired by FT editor Roula Khalaf and the other members are: Mimi Alemayehou, founder and managing partner, Semai Ventures; Daisuke Arakawa, managing director for global business, Nikkei; Mitchell Baker, executive chair, Mozilla Corporation; Mohamed El-Erian, president, Queens’ College, Cambridge, and adviser, Allianz and Gramercy; Peter Harrison, chief executive, Schroders; James Kondo, chair, International House of Japan; Randall Kroszner, economics professor at University of Chicago’s Booth School of Business; and Shriti Vadera, chair, Prudential and the Royal Shakespeare Company.

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The winner of the £30,000 prize will be the book that offers the “most compelling and enjoyable insight” into business issues. The shortlisted titles will each receive £10,000. The 10 judges reserve the right to add further books to the longlist ahead of the announcement of the shortlist on September 17. The winner of the award will be announced on December 9. Read more about the award at www.ft.com/bookaward. Consult a complete interactive list of all the books longlisted since the award began in 2005 at ig.ft.com/sites/business-book-award/

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Tornadoes hit Illinois, Indiana and Texas as severe storms sweep US

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Tornadoes hit Illinois, Indiana and Texas as severe storms sweep US

A series of tornadoes hit parts of Texas, Illinois, and Indiana late Tuesday and overnight, as forecasters warn that the threat of severe weather, including flooding, will continue on Wednesday for tens of millions of people from Texas to Michigan.

At least four tornado touchdowns were reported in eastern Illinois, the National Weather Service (NWS) said, leaving a trail of damage stretching into Indiana, where at least two people were killed.

Video of a separate tornado in Taylor county, central Texas, on Tuesday was posted to weather.com. Officials there reported 60mph wind gusts and “baseball-sized” hail.

A search continued on Wednesday for possible victims of a supercell of storms that followed a path from Kankakee county, Illinois, into Indiana late on Tuesday. Rob Churchill, chief of the Lake Township fire department in Indiana, said in a video on Facebook that the small town of Lake Village had taken “a direct hit”.

“We have multiple homes destroyed, please stay away from the area,” he said.

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Fire department officials said at an early morning Wednesday press conference that there were two fatalities, WTHR News, an NBC affiliate, reported. Details were not immediately available.

Shannon Cothran, sheriff of Newton county in Indiana, said in a separate Facebook video that the immediate threat of dangerous weather had passed, but first responders were faced with challenging circumstances as they dealt with the storm’s aftermath.

“[There’s] a lot of damage. Please do not come here. Do not try to help right now. We’ve got a lot of first responders out here doing their job, just give us some room,” he said.

The tornadoes in parts of Illinois and Indiana downed trees and power lines in an area south of Chicago, and overwhelmed 911 operators, officials said. The Kankakee county sheriff’s office said one tornado touched down near the Kankakee fairgrounds before moving north-east into Aroma park, where it caused extensive damage.

JB Pritzker, the Democratic Illinois governor, said in a post on X early Wednesday that he was briefed on the storm and tornado damage and that the state’s emergency management agency was in contact with local officials.

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“Keeping in our thoughts all Illinoisans impacted by the severe weather – we’ll be here to help them recover,” he said.

Severe storms dumping rain and hail in parts of the midwest were threatening to bring intense tornadoes, damaging winds and very large hail from the southern plains to the southern Great Lakes, according to the NWS. States from Oklahoma to Michigan were under tornado watches.

Andrew Lyons, a meteorologist with the weather service’s storm prediction center, told the Associated Press that the exact number of tornado touchdowns would not be known until after officials conducted damage assessments.

He described it as a fairly typical early spring strong storm system that was expected to continue to move east and northeast towards the Atlantic coast on Wednesday, likely bringing more severe weather, he said.

Brandon Buckingham, an AccuWeather meteorologist, said at least 10 tornadoes were spotted in Illinois, Indiana and Texas.

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“There were nearly 200 filtered reports of severe weather spanning more than 2,500 miles from Texas to Michigan,” he said in a post on the weather service’s website.

The forecaster said the chain of storms would peak midweek and “could become the most widespread and impactful severe weather outbreak so far this year”.

The severe weather could reach Washington DC by Wednesday afternoon, CBS News reported, bringing new threats of damaging winds and tornadoes. A line of storms was forecast to sweep east and move into Ohio and Tennessee, including the cities of Cincinnati, Memphis and Nashville, it said.

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Wheelchair curler Steve Emt’s path from drunk driver to three-time Paralympian

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Wheelchair curler Steve Emt’s path from drunk driver to three-time Paralympian

American Steve Emt competes in Sunday’s mixed doubles match against Italy, which the U.S. won.

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Anyone watching the Winter Paralympics has probably taken note of Steve Emt, who — along with Laura Dwyer — is representing Team USA in the Games’ first-ever mixed doubles event.

Their performance is one thing: The pair notched three dramatic, back-to-back wins in the round-robin tournament to reach the semifinals, marking the first time the U.S. has qualified for a medal round in wheelchair curling since the 2010 Paralympics.

After losing to Korea in the semifinals, Emt and Dwyer will face Latvia in the bronze medal match on Tuesday, in the hopes of winning the U.S. its first Paralympic medal in wheelchair curling.

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But it’s their teamwork and attitude on ice that really set them apart. Emt, in particular, has charmed the internet, with his booming baritone delivering a steady stream of encouragement to his doubles partner and demands to the granite stones they’re sliding (“curl!” “sit!”).

“I have three older siblings. I was always on the basketball court getting beat up by them, so I had to assert myself on the court, around the kitchen table, everything,” he said when asked about his deep voice this week.

Steve Emt and Laura Dwyer celebrate during a match this week.

Steve Emt and Laura Dwyer have made sure to celebrate their wins, of which there have been many throughout this wheelchair curling mixed doubles round-robin tournament.

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While Emt, 56, is competing in a new event, he’s no stranger to the sport: The 10-time national champion and three-time Paralympian is the most decorated Paralympic curler in U.S. history.

But he didn’t know what curling was until he got recruited off the street just over a decade ago.

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Emt, who is 6 feet, 5 inches tall, was enjoying a day in Cape Cod, Mass., in 2013 when a stranger with slicked-back hair approached and asked if he was local. Emt replied that he lived in Connecticut and suspiciously asked why.

“He said, ‘Well, I train with the Paralympic rowing team here in the Cape. I saw you pushing up the hill back there. With your build, I could make you an Olympian in a year,’” Emt recalled, referring to his wheelchair. “And I heard ‘Olympics,’ I’m like: Let’s go. What the hell is curling?”

After their conversation, Emt drove home and did some research, confirming that curling was not related to weightlifting, as he originally suspected.

“I went back two weeks later and I threw my first stone, and it just bit me,” he said.

Before long, Emt was making the two-and-a-half-hour drive to Massachusetts to spend the weekend training with that stranger-turned-coach, Tony Colacchio. He made the U.S. wheelchair curling team in 2014 and competed at his first world championship in 2015. Emt made his Paralympic debut in Pyeongchang in 2018, five years after that fateful encounter.

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Emt, speaking to reporters in October, said the sport of curling has changed him as a person, mellowing him out. But the existence of the sport as a competitive outlet for athletes with disabilities changed his life.

Emt had been an all-star high school athlete, an Army West Point cadet and a UConn basketball walk-on before a drunk driving incident paralyzed him from the waist down at 25 years old.

“I’m a jock … I need to compete, and I didn’t have anything going on in my life,” Emt said. “Seventeen years after my crash, I had a hole, and then [Colacchio] came along and stalked me into the sport.”

By that point, Emt had spent years working as a middle school math teacher, a high school basketball coach and a motivational speaker. The latter has been his full-time job for almost a decade, taking him to over 100 schools across the country each year. He tells those teenagers about the chance Colacchio took on him, encouraging them to “be a Tony.”

“Go sit with that kid at lunch that’s sitting alone … smile [at] somebody in a hallway, get your heads out of your phones, get your heads out of the sand,” he continued. “We’re all going through something … and a simple ‘hello’ or ‘good morning,’ it could change their day. It could change somebody’s life.”

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Why Emt now shares his story 

This is the third Paralympics for Emt, who is already eyeing Salt Lake City 20

This is the third Paralympics for Emt, who is already eyeing Salt Lake City 2034.

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Emt wasn’t always so willing to open up. For the first half a year after his 1995 crash, he told everyone a deer had run in front of his car rather than admit he had gotten behind the wheel drunk.

“I was lying to myself, I was lying to everybody around me,” he said. “I didn’t want kids to look at me in my hometown, in the state, and everyone around the country, as a drunk driver. I wanted them to look at me as a stud athlete and a great person.”

Emt had been a “stud athlete”: His talents in high school basketball, soccer and baseball made him a star in his hometown of Hebron, Conn., and earned him a spot on the basketball team at West Point.

But he dropped out two years later, after his father’s sudden death from a heart attack. He went home to Connecticut and eventually enrolled at UConn, where he walked on to its storied basketball team, joining future NBA greats like Donyell Marshall. Emt says, with a chuckle, that he had 38.7 seconds of playing time in his two years.

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Emt was wearing his Big East championship jacket the night of his 1995 accident, which he says left him for dead on the side of the highway. When he woke up from a coma a few days later, he learned he would never walk again.

And he didn’t want to tell people why, until a newspaper reporter approached him six months later wanting to tell his story — and encouraged him to be honest. He said the opportunity to “come clean” helped him accept what he’d done and forgive himself.

“That’s my label: Yeah I’m a curler, yeah I’m a speaker, yeah I’m a drunk driver,” he said. “I’m in a wheelchair because of a drunk driving crash, and I want you to know it and I want you to learn from me.”

Emt first got into motivational speaking about eight months after his accident, and has been doing it ever since. He calls it his therapy.

He says that and curling — which is about shaking hands with competitors instead of smack-talking them — has helped him slow down and appreciate the little things. Relocating to Wisconsin and the chiller pace of Midwest life has also helped. And he says he cherishes the platform that curling has given him.

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“I want people to know: ‘Hey, when you’re ready to talk, I’m here for you.’ This is what I do, from my speaking to my curling, whatever it is, there are so many opportunities to be successful again,” he said. “When you wake up and you’re told you’re never going to walk again, it’s like, what do I do now? … And I just want people to know that there are so many avenues out there, so many things to do.”

Emt, the oldest Paralympian on Team USA, originally aimed to make it to three Games. But he’s now eyeing even more, as he’d like to compete on home turf in Salt Lake City in 2034 (two Games away).

“I’m going to be like 90 years old competing at the Paralympics,” he laughed.

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Map: 2.3-Magnitude Earthquake Reported North of New York City

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Map: 2.3-Magnitude Earthquake Reported North of New York City

Note: Map shows the area with a shake intensity of 3 or greater, which U.S.G.S. defines as “weak,” though the earthquake may be felt outside the areas shown.  All times on the map are Eastern. The New York Times

A minor, 2.3-magnitude earthquake struck about 12 miles north of New York City on Tuesday, according to the United States Geological Survey.

The temblor happened at 10:17 a.m. Eastern in Sleepy Hollow, N.Y., data from the agency shows.

The Westchester County emergency services department said in a statement that it had not received any reports of damage.

As seismologists review available data, they may revise the earthquake’s reported magnitude. Additional information collected about the earthquake may also prompt U.S.G.S. scientists to update the shake-severity map.

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Source: United States Geological Survey | Notes: Shaking categories are based on the Modified Mercalli Intensity scale. When aftershock data is available, the corresponding maps and charts include earthquakes within 100 miles and seven days of the initial quake. All times above are Eastern. Shake data is as of Tuesday, March 10 at 10:30 a.m. Eastern. Aftershocks data is as of Tuesday, March 10 at 2:18 p.m. Eastern.

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