Most Innovative Companies

Ideo is one of the most famous global design agencies in the world. Founded in 1991, it is celebrated for popularizing the modern corporate mantra of design thinking. It’s also known for a top-tier client list including companies such as Coca-Cola, Disney, and Apple, with estimated annual revenues of more than $100 million. But Ideo has been shedding employees since 2020. This is the second round of layoffs in 2023 alone. Ideo has since confirmed to Fast Company that it’s eliminating 32% of its headcount this year. Fast Company Senior Editor Liz Stinson breaks down the reason for the layoffs and what this means for "design thinking."For more, check out Mark Wilson's piece on Ideo "People thought we were crazy." Somos cofounder and CEO Miguel Leal wanted to bring authentic Mexican food to people's kitchens. "It was time to move the cuisine forward," he said. "Eighty-two percent of Mexican food comes from a restaurant. That is not the same for Italian food. That is not the same for Chinese food. That is very peculiar to Mexican food. And because of the size of the market, it's a $68 billion market. We just thought, what a great opportunity to become the spaghetti and sauce of Mexican food."And speaking of home cooking, Happy Thanksgiving!!For more MIC behind-the-scenes, check out Yaz at @yazzyg on Instagram and Josh @joshuagchris on TikTok!Correction: We said former Ideo CEO Tim Brown was associated with the d.school at Stanford University but he is not.

After 118 days, the SAG-AFTRA strike finally came to a close. Fast Company deputy digital editor Morgan Clendaniel breaks down what happened this past summer with the strike, as well as the overall state of unions at the moment. As of airing this episode, the union’s national board approved the new contract with major studios and sent it to membership for ratification.“I’m completely uninterested in building small things.” Emma Grede has started a LOT of businesses. Probably best known for cofounding Good American, Emma is also a founding partner at Skims. For her, when it comes to starting a business, it’s never about who she’s going to partner with but rather what problem are we solving: What are we trying to do, and how do we uniquely align that with the right individual at the time?As she was starting out, Emma worked with some of the biggest brands in the world, including Dior, Chanel, and Calvin Klein. She said that gave her a kind of unique understanding and perspective, but also a clear insight into what she considers one of the best accelerators: fame. “I was very, very early in influencer marketing, and I think that we’ve seen enough celebrities create brands and fail or create brands and not have success like Good American and Skims and Safely to know that it isn’t talent alone [that’s] going to propel a brand.”For more MIC behind-the-scenes, check out Yaz at @yazzyg on Instagram and Josh @joshuagchris on TikTok!

WeWork’s tumultuous ride has come to an end. We chatted with journalist Reeves Wiedeman, author of Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork, about one of the wildest and most dramatic startup stories in corporate America’s history.“The brand is bruised.” What’s going on at Marvel Studios? ‘Fast Company’ senior staff editor Jeff Beer breaks down the Marvel Cinematic Universe with culture writers Joanna Robinson and David Gonzales. They chat about MCU’s strengths and weakness, and how the company once excelled at storytelling and teaching its audience how to be loyal to the brand. But now, Marvel is watching its goodwill chip away, Robinson said. So what happens when a brand’s logo doesn’t carry the same strength? “They have these pieces—it would be foolish to count them out—but they know they don’t have any free passes left,” she said.For more behind-the-scenes look at the MCU, check out: MCU: The Reign of Marvel StudiosAnd you can find Yaz at @yazzyg on Instagram and Josh @joshuagchris on TikTok!

A year ago, Elon Musk bought Twitter for a whopping $44 billion. Since then the platform has changed dramatically . . . even its name. Senior staff editor Max Ufberg joins us again to break down what’s been going on at Twitter, er X, over the past year.Also, “Black women are the fastest-growing segment of entrepreneurs in this country,” says Nyakio Grieco, “yet still receive less than 1% of venture funding.” Grieco, founder of Relevant Skin and cofounder of Thirteen Lune, chats about her experience as a Black female entrepreneur and creating a beauty brand that’s exclusively inclusive. “We all have melanin, so this is a melanin-safe brand for all,” she says. But Grieco’s mission in launching Relevant Skin was to come up with products that wouldn’t be harmful to people with more melanin in their skin, which includes Black people and other people of color, so she did a deep dive along with her chemist. Grieco explained that the more melanin you have, the more prone you are to eczema, rosacea, hyperpigmentation, hypopigmentation. . . . “So, we want it to build efficacious products, steeped in history [with] timeless ingredients, as well as be married to the best science to make sure no one feels left out at the shelf.”For more MIC behind-the-scenes, check out Yaz at @yazzyg on Instagram and Josh @joshuagchris on TikTok!

Companies now have mountains of data to help drive decisions and develop products, but a holistic approach to product development must also prioritize customers’ needs and preferences. In this podcast interview, Stephanie Mehta, CEO of Mansueto Ventures, the parent of Fast Company, sits down with Emily Roberts, Senior Vice President and Head of Enterprise Consumer Product at Capital One to hear how to harness the power of technology and customer feedback loops to innovate products and experiences.

Halloween season is here! And actor-director-producer Emma Tammi joined us to chat about her upcoming film, Five Nights at Freddy’s, based on the popular video game franchise. She told us all about adapting a video game to a movie, working with large animatronic puppets, and creating a horror movie that’s aimed at a PG-13 audience. But the scariest part of the movie process, according to Emma? Reading the reviews. . . .Opening Friday, October 27, in theaters and on Peacock, Five Nights at Freddy’s is produced by the spooky creatives at Blumhouse with the murderous mascots from Jim Henson’s Creature Shop.Everyone feels like they have a book in them. Well, Roya Shariat proved it! The Glossier director of social impact and brand partnerships shared her tips on working a full-time job while pursuing her passion project. Spoiler: There’s no such thing as balance. It’s more of a trade-off. “It’s something I continue to struggle with,” says Roya, “and I’d say I’m not the best at dividing my time. It’s using my nights and weekends for that passion project and being a little ruthless sometimes about not going to socialize this month because I’ve got to work on this book proposal . . . It’s just, sometimes, not sleeping and sometimes working seven days a week.” Her cookbook, Maman and Me, is available now in bookstores around the U.S and coming soon to global markets.For more MIC behind-the-scenes, check out Yaz at @yazzyg on Instagram and Josh @joshuagchris on Tiktok!

Actor, producer, and entrepreneur Issa Rae has several businesses under her belt already, and now she has partnered with Gallo to launch her own prosecco line, Viarae. We chatted about her business ventures, and how she decides which creative projects to pursue. It comes down to backing things that she loves and/or needs. When she wanted to start a coffee business, for example, it was because she wanted a coffee shop in her neighborhood—specifically to have a place where she could write all the time, but there was never one nearby. So, she helped found Hilltop Coffee and Kitchen. She’s also the co-owner of Sienna Naturals because she said she prefers to wear her hair naturally but taking care of it is very hard. Other projects involve making her production company, Hoorae, an all-encompassing ecosystem, and recently teaming up with Adam McKay to adapt the New York Times’ podcast series, Nice White Parents, into an HBO series.On the WGA and SAG strikes, she says it was tough with the work stoppage and not being able to talk about her creative projects, but she fully supported them. And now, she says, she’ll have to navigate what to create next because everything is going to have to be high concept, and there will be fewer diverse shows. That will result in fewer casting opportunities, too: “While the writers were able to fight for more minimum staffing rooms, that means there’s less stuff to work on because everything is so expensive. In the same way that [the] ’90s to the 2000s had fewer diverse shows on the air, I think that’s for sure going to be a casualty of it all,” she explains.For more behind-the-scenes looks of our in-studio recording, follow Yaz @yazzyg and Josh @thejoshuachris

Only 10% of Fortune 500 companies have female CEOs, even though women make up 47% of the workforce. And female founders only get 2% of venture capital. When Sophia Amoruso coined the term ‘girlboss’ in her 2014 memoir, #Girlboss, she helped spark a movement for women to step into more leadership roles. But then she and a couple of other girlbosses faced backlash over their management practices, including creating toxic work environments. Compared to some of their problematic male counterparts, though, these women ultimately lost control of the companies they built. Fast Company senior staff writer Liz Segran breaks down why the reign of the girlboss is over and how the next generation of founders shouldn’t feel compelled to follow their playbook.“I have no intention of raising money and blowing up and trying to take over the world,” Bite founder and CEO Lindsay McCormick says. The sustainable toothpaste company’s goal is to stay small, stay true to the customers that they serve, and continue to be able to trailblaze. She said the company aims to show big brands that there is something to be done about caring for the environment. “And if you do it right, people will get on board.”And check out Stephanie Clifford’s coverage of the ongoing SBF trial.

The company’s director of finance explains how her job goes well beyond accounting. Tina Hetzer, director of finance at Pink Lily, is one of the rising financial stars who are helping to bring their businesses to the next level. She built Pink Lily’s finance team from scratch and has helped the company become one of the fastest-growing retailers in the country. In this podcast, part of the SAP-sponsored Growth Agents series, Hetzer discusses the cash-flow challenges unique to fashion retailers and explains how working at a smaller, founder-run company can fuel greater collaboration across the organization.  

Mitch Reback, CFO of Sweetgreen, is one of the rising corporate financial stars who is helping to take their companies to the next level. When he started, Sweetgreen had 25 stores; today, there are more than 220—and Reback says the company is still in its “infancy.” In this podcast, part of the SAP-sponsored Growth Agents series, Reback takes a deep dive into his role as a growth agent. Capital is the engine that drives growth, and Reback says his job is to make sure the company has adequate capital to grow as well as determining how best to allocate it, including investments in stores, marketing, staff, and technology—or, as he puts it, to push innovation forward in a way that’s capital efficient.