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How to Grow a Business: Yum! Brands Co-Founder David Novak

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How to Grow a Business: Yum! Brands Co-Founder David Novak

As the co-founder and former CEO of Yum! Brands, one of the world’s largest restaurant companies with a portfolio including franchises like KFC and Pizza Hut, David Novak drove tangible results.

In the 17 years he was CEO, from 1999 to 2016, Novak helped scale the company to eight times its original size, from a market capitalization of $4 billion to $32 billion. However, Novak credits the numbers to a more qualitative than quantitative aspect of leadership — creating the right work culture.

In a conversation with Masters of Scale host Jeff Berman that aired earlier this month, Novak explained how he steered Yum! Brands from the beginning.

“I made my number one priority to really create a powerful culture where everyone counts,” Novak said. “That became job number one for me as a CEO, because if I can create that right work environment, people will innovate and people will go further.”

Novak explained that early on, he tried to learn from companies that were winning or consistently delivered good results. He went out and visited companies including Walmart, Home Depot, and General Electric.

“We met with them,” Novak said. “Then we came back and we codified what’s really driving the success of these companies that allow them to get to great results year after year.”

Related: The Side Hustle She Started in a High School Locker Room Hit Multimillion-Dollar Revenue — and Taylor Swift Is a Fan: ‘Invest in Yourself’

Novak, who oversaw 1.5 million employees globally, began emphasizing recognition and encoding it into Yum!’s culture. In previous interviews, he talked about how he would use recognition to motivate employees. In one case, at KFC, Novak gave away rubber chickens and $100 as an award for a job well done.

Today, Yum!’s culture remains one of recognition and collaboration, per its public-facing culture page.

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X Rival Bluesky Gains 1.2 Million New Users in 2 Days

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X Rival Bluesky Gains 1.2 Million New Users in 2 Days

X users may be migrating to bluer skies after a major change.

Bluesky is an open, ad-free social network that grew out of Twitter, now X, in 2019. The platform announced on Thursday that half a million new users signed up within a day of X announcing that it would be changing up its blocking feature “soon.” Blocked users on X will be able to see public posts but not like, reply or engage with them in any other way.

Although X said the change was to prevent people blocking others from sharing sensitive information about people they have blocked, X users stated that the move would support stalking, render the Block function useless and violate Google Play Store and Apple App Store requirements.

Related: Jack Dorsey Explains Bluesky Exit: ‘Literally Repeating All the Mistakes We Made’ at Twitter

Bluesky stated on Friday that more than 1.2 million people have signed up to use the platform since Wednesday.

congratulations everyone, we have now passed 12 million people total on bluesky!!! ?

over 1.2M new people have joined bluesky in the last two days — welcome!! ???

[image or embed]

— Bluesky (@bsky.app) October 18, 2024 at 1:42 PM

Bluesky also experienced a surge in users last month after X shut down operations in Brazil on August 30. Within a week of the ban, Bluesky added 3 million new users, 85% of whom were from Brazil. X resumed operations on October 9, but not before Bluesky surged to 10 million users in September.

The platform now has 12 million users total, per a Friday announcement.

Meta’s Threads also appears to be experiencing a surge in users; it is currently first under the top free apps for iPhone list, with Bluesky coming in fifth. Threads surpassed 175 million users in July.

Related: Jack Dorsey Announces His Departure from Bluesky on X, Calls Elon Musk’s Platform ‘Freedom Technology’



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Netflix Adds 5 Million Users, Analysts Predict Price Hike

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Netflix Adds 5 Million Users, Analysts Predict Price Hike

Netflix posted its third-quarter earnings on Thursday and beat Wall Street predictions for both subscribers added and overall revenue. Meanwhile, analysts forecast that the streaming giant will soon raise its prices.

Netflix’s revenue for the third quarter was $9.825 billion, slightly more than the $9.769 billion analysts had predicted. The company also added 5.1 million subscribers, well over the 4 million additional users investors expected.

“Engagement, our best proxy for member happiness, remains healthy,” the report noted. “Through the first three quarters of 2024, view hours per member amongst owner households (the clearest view of engagement trends post the introduction of paid sharing) increased year over year.”

Related: Netflix Updated Its Famous Employee ‘Keeper Test’ in a New Culture Memo — Here’s What’s Changed

Netflix currently has over 600 million users with each one spending about two hours per day on the platform, per the report.

Will Netflix Raise Prices in the U.S.?

Thursday’s earnings report may not mean subscribers will avoid a price hike. The streaming company is increasing prices in Spain and Italy on Friday, and analysts from investment firms including Oppenheimer & Co. stated before the earnings release that a price hike may be on the way for U.S. users, too.

Netflix currently costs $6.99 per month for a standard plan with ads, $15.49 per month for a standard plan with up to two devices watching at the same time, and $22.99 per month for a premium plan with up to four devices supported.

Related: How to Hire Like Netflix — ‘This Is a Completely Different Way of Thinking About Human Capital’

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Nvidia’s ‘Insane’ AI Chip Demand Leads to Record Share Price

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Nvidia's 'Insane' AI Chip Demand Leads to Record Share Price

Nvidia is the second most valuable company in the world, with a market cap of over $3 trillion. At market close on Monday, shares of the AI chipmaker hit an unprecedented high of $138.07 before falling to $131.32 at the time of writing.

Nvidia’s performance is tied to strong demand for its AI chips. Nvidia CEO Jensen Huang stated recently that demand for Nvidia’s Blackwell AI chip is “insane” and “everybody wants to have the most.” Nvidia expects to ship enough of the new chip to make several billion dollars.

Nvidia was briefly on the edge of unseating Apple as the most valuable company in the world on Monday. Last week, Nvidia shares grew by $400 billion in five days, more than the entire market cap of Costco.

Related: Employees Who Worked at This Company for the Past 5 Years Are Now Multi-Millionaires in ‘Semi-Retirement’

Huang also said last month that demand was his biggest worry, or what kept him up at night.

“We have a lot of people on our shoulders, and everybody is counting on us,” he said, adding that having access to Nvidia’s technology was a “really emotional” point for the company’s clients.

Nvidia counts the biggest tech players among its clients: Amazon, Meta, Microsoft, and Google contribute to more than 40% of its revenue. Nvidia’s earnings beat analyst expectations last quarter, with revenue growing 122% year-over-year, the fourth quarter in a row of growth over 100%.

Related: Nvidia’s Profits More Than Doubled, but Traders Are Still ‘Shrugging.’ Here’s Why According to a Market Expert.

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