Walt Stinson: The Technology Conundrum
‘Perspectives’ is a joint project of The Beautiful Truth and Leaders on Purpose. During the 6th annual Leaders on Purpose CEO Summit in September 2023, The Beautiful Truth conducted interviews with influential corporate leaders and thought leaders. The goal was to gain insight into their perspectives on purposeful business and answer the question: what actions should our businesses take in the current historical context?
Walt Stinson is the CEO and Co-founder of ListenUp, a consumer technology integrator that delivers sight, sound and smart technology experiences. He is also Director of Human Security for All, a global campaign led by the United Nations Trust Fund for Human Security.
“If you don’t align yourself with the future – not only the one that you envision but the one you want to create – then the likelihood is that you won’t be around in two decades.”
Why do technology companies fail?
Technology is a double-edged sword now because of its potential for misuse and for solving the world’s most pressing problems. With all the changes occurring under their feet, it’s not easy for technology companies to survive, especially if they’ve made big investments in areas that don’t pan out.
If you don’t align yourself with the future – not only the one that you envision but the one you want to create – then the likelihood is that you won’t be around in two decades.
Many business leaders don’t fully understand this. They think simply being driven by data is enough to get them to a decision. But that’s generally not the case, especially for hard decisions. So, having a set of ethics and values on which the company is built and a strong foundation where the employees and customers can anticipate what types of decisions the CEO will make can be very helpful.
How is business evolving?
Society is changing rapidly, meaning the role of business has had to shift from production to adaptation. We often refer to this change as exponential, but it can be difficult for both business people and the general public to get their heads around this concept.
An example to base this in reality: I started as an engineer. When I was training, the technology used in electronic equipment was vacuum tubes. In the middle of my career, we transitioned from tubes to digital solid-state technology. Now, we’re on the brink of integrating artificial intelligence into virtually every consumer electronic product.
“That’s where the art of management comes in; the best CEOs have the right to call themselves artists.”
How can companies survive in today’s world?
If you look at companies that have been around for a hundred years, especially in the technology industry, they’ve aligned their company around a sense of purpose that contributes value to society. They have to make great products and provide great services, but it’s this alignment, this resonance with societal aspirations that keeps them ahead and thriving over the long run.
In my experience, values-driven companies outperform companies that are simply chasing the bottom line. That’s certainly true of my company. CEOs must recognise that they need society’s support to really make them sustainable.
What does it take for a CEO to achieve this?
When I teach new managers, I talk about the science of management and the art of management as two completely different talents they need to bring to the job. CEOs are often all alone, having to make tough choices when there aren’t clear-cut answers. That’s where the art of management comes in; the best CEOs have the right to call themselves artists.
