Companies today are desperately searching for growth, better margins, and market-beating returns, especially amid ongoing AI-driven transformation. Our latest research offers clues where to look.
We scored 767 companies over five years on how they treated their workers, their customers, their communities, their shareholders (on governance factors), and the planet, then evaluated what happened in subsequent years to their revenue growth, margins, and excess returns.
TL;DR: the results suggest that strong stakeholder performance can indeed presage future financial and market performance, but not always. It varies by industry, by stakeholder, and over time. When the connections were statistically significant, positive links beat negative ones by nearly two to one, with strong clusters around the twin goals of revenue growth and alpha.
The key to success at the individual company level appears to be knowing when, how, and where the stakeholder-financial performance connections occur, anticipating future shifts and executing better than others; precisely what the new Financial Opportunity feature in Just Intelligence facilitates. In technology, for example, the firms that invested most in communities, environment, and governance went on to grow fastest.
None of this was a surprise to Jen Huffstetler, Chief Sustainability Officer at HP Inc. — our top-ranked company of 2026 — who joined me for a conversation last week. Culture, trust, and innovation, she argued, are essentials for overall leadership today. At HP, whose stock is up over 30% YTD, culture is grounded in accountability – a feature that can be traced back to the firm’s founders. You can read the full summary of our conversation on LinkedIn.
In a volatile market obsessed with AI-driven growth, profitability and returns, the stakeholder model might offer more value than expected.
Be well,
Martin
P.S. Just Intelligence now contains additional AI-focused insights. Explore them here.
79% of investors feel AI should face significantly more regulation than social media has, alongside 78% of corporate leaders. Explore the data here.
NVIDIA CEO Jensen Huang speaks to Axios about how AI is creating more jobs, pointing to how its use in radiology is creating demand for more radiologists.
Mark Zuckerberg writes an op-ed in The Wall Street Journal outlining his optimistic vision for an AI-driven future.
The New York Times looks at AI companies’ search for more electricians and plumbers for their data center build-outs, and how many are investing in the trades.
Inc. reveals that 55% of leaders regret AI-related layoffs, and more companies are hiring back roles they thought they could do without.
The Wall Street Journal looks at how after-tax wage growth has improved for low-income Americans, but those gains are likely being swallowed by rising gas prices and overall inflation.
Forbes takes a surprising look at why engineering majors are struggling to find jobs at higher-than-expected rates.
More companies than ever are turning to older and retired CEOs when their business is in need of stabilization. The Wall Street Journal has the story.
This chart comes from an Associated Press investigation on how the increase in food prices is affecting U.S. families, showing that prices have risen 33% since 2019.
The ROI of frontier AI models is a topic of hot debate in corporate America right now, primarily centered on the cost of compute. To understand what other dynamics might be at play, we did what we do best: we asked the American public.
In a poll fielded this week, 34% of workers say their workload has increased since their company started using AI, including 10% who say it’s increased significantly.
There are many factors that could be driving this. It could be that AI is not yet generating meaningful productivity gains on the individual level, or that the time saved by AI is used to complete even more work. Perhaps workers are taking on more work if their teams have reduced headcount. Respondents said the added workload comes mostly from managing and checking AI output – reviewing drafts, catching errors, and re-doing work the model got wrong. It’s the unglamorous labor of quality control, and right now, it appears to be landing squarely on employees’ shoulders.
Interestingly, it’s not a story of frustration or distrust. Among workers who say AI has changed their job, 88% call that change positive. Put together, the data suggests companies may be in an early training period, where the labor costs required to teach AI are currently more significant than the costs saved by the technology. What’s more, workers seem to sense that the tradeoff is worth it.
As business leaders race to deploy AI, they may want to consider how they’re rewarding workers for the extra elbow grease that’s making that transformation possible.
Be well,
Martin
57% of institutional investors and analysts believe AI will have a negative impact on the environment.
Axios reports that Google DeepMind CEO Demis Hassabis is calling on the U.S. to establish an AI watchdog group comprising world-class technical experts.
Meanwhile, Common Sense Media finds Google’s AI search failed safety tests and scored poorly on seven of the organization’s eight AI safety principles.
CNBC investigates former Meta employees’ accusations that the company unfairly used AI in recent layoffs.
New York became the first state to put a temporary ban on data centers until standards are created that address environmental impacts, energy demands, water usage, and other factors. NBC News has the story.
A group of economists from Stanford’s Digital Economy Lab released a statement calling for urgent preparation for the economic impacts of powerful AI models. The statement has been signed by over 200 economists including 16 Nobel laureates and the chief economists of OpenAI and Anthropic.
Covista and the Covista Foundation committed $10 million and 50,000 volunteer hours to build and sustain the healthcare workforce over the next five years.
Gallup finds that confidence in U.S. institutions remains near all-time lows.
Fortune reports that the growing national debt may result in a smaller job market with lower wages for Gen Z in particular.
This chart comes from Gallup and looks at Americans’ confidence in large technology companies. Among the institutions rated this year, large technology companies experienced a surge in Americans expressing very little or no confidence.
The question of who shares in the wealth AI creates is a defining one. Should there be an “AI tax” for hyperscalers? Or an AI-based sovereign wealth fund? Maybe you think no special measures are needed. What’s clear is that most of the debate is happening among the people building the technology and the people who will regulate it, not the people it will potentially impact the most. So, this week, we fielded a national survey to ask Americans directly whether the wealth AI generates should be shared, and how.
The headline finding represents a point of agreement across demographics. Nearly two-thirds of Americans, 65%, say everyone should receive a direct financial benefit from the wealth AI companies generate. That view holds across the political spectrum, with 75% of Democrats, 62% of Republicans, and 57% of Independents in agreement. It runs strongest among the 25-to-44 year-olds most exposed to AI in the workforce, where support reaches a massive 78 to 80%, and it stays steady across income levels and gender.
What people want done with that wealth is more revealing. Across nearly every group, a direct cash payment funded by a tax on AI profits is the first choice. The exception is the youngest cohort. They lean instead toward structural mechanisms like public ownership stakes and sovereign-wealth-style funds, share transfers, and investment in worker retraining and AI safety.
I find this striking. The generation most likely to be impacted by AI, and with the most working years ahead of it, is not asking for a check. It wants a stake in the future and the means to compete. Business leaders and politicians seeking to win the favor of young Americans should pay close heed.
Be well,
Martin
For the last three quarters, Just Capital has been polling the American public, investors, and corporate leaders on AI deployment, tracking where perceptions converge and where gaps are widening.
Our third installment of quarterly polling on responsible AI deployment is now available in Just Intelligence for all registered users.
This research is designed to offer a roadmap for companies looking to build trust in the AI era and make informed decisions as the AI landscape evolves. It is the first iteration of an ongoing series that will continually surface insights from key stakeholders as companies aim to build trust, manage risk, and unlock AI’s upside potential for workers, customers, communities, and shareholders.
Axios examines new polling that shows data centers are turning into the focal point for anti-AI sentiment across the nation.
Reuters reveals that despite the fears, AI proliferation is having a muted effect on wages and workers.
At the same time, Gallup writes that while downsizing is continuing across the U.S., laid-off workers are only citing AI as the primary reason 1% of the time.
The Wall Street Journal speaks with Microsoft CEO Satya Nadella about his belief that we “can’t let AI giants eat the economy”. Read the full interview.
While they are experiencing a harder job search, The Guardian reveals that Gen Z employees who managed to snag a job are actually making more money than millennials did right after college.
Fortune takes a look at why men continue to drop out of the workforce at higher rates.
Yahoo! Finance holds a magnifying glass to CEO pay, and how more CEOs than ever are making more than $100 million a year.
The Washington Post teams up with the Brookings Institute to examine which jobs are most-and-least vulnerable to AI-driven displacement.
Our third quarterly AI survey of the American public, investors, and corporate leaders is out this week and the results are striking.
Twenty-seven percent of corporate leaders report providing advance notice of AI-driven layoffs, 31% say they are offering transition support to laid off workers, and only 13% report contributing to an industry-wide fund to support displaced workers. Nearly a quarter of corporate leaders — 23% — say none of these support mechanisms exist at their organization, despite the fact that 22% now believe large-scale job losses are on the horizon (compared to 13% just one quarter ago).
We think one possible explanation for these wide-ranging responses is that most companies don’t anticipate or aren’t yet laying off at the scale that would trigger displacement programs, so those programs haven’t been built. Only 19% of corporate leaders report significant job cuts to date. Nevertheless, the gap between investor and public expectations and corporate action is widening. Sixty-four percent of the public and 57% of investors expect advance notice of workforce changes. Seventy-two percent of investors say companies should fund training and skill development. These stakeholders are concerned about widespread layoffs even if they’re not yet materializing.
Other interesting datapoints: The share of company leaders who believe business should spend over 5% of total AI investment to support displaced workers has more than doubled since Fall 2025 from 8% to 17%. And nearly 75% agree companies should invest in local communities through training and workforce development programs.
Are business leaders getting more concerned about what’s to come? Or more committed to building support with key stakeholders? Maybe both.
Be well,
Martin
This newsletter was written mostly by humans with a bit of help from AI.
We are expanding Just Intelligence to track how America’s largest companies are deploying AI responsibly and we want your feedback.
Through polling conducted over the last year, we have identified several AI issues that matter most to the American public and developed new data points that capture how corporate disclosures meet those expectations. We plan to incorporate these data points into our 2027 Rankings methodology.
If you belong to a company being measured, your perspective is essential to ensuring this research is relevant and actionable.
Please submit your feedback by July 8, 2026.
View the Data Points and Provide Feedback
Fortune highlights comments from Vista Equity Partners CEO Robert Smith imploring companies who are expanding their AI capabilities to continue to invest into intern programs for the next generation, saying “that’s an important part of bringing people along and, honestly, of creating optimism and a new group of technologists and thinkers who can carry this world.”
NBC News covers a historic bill that just passed in Illinois that would require AI companies to have 3rd party safety audits.
Fortune examines Goldman Sachs data showing new college students are shifting majors to those that are less at risk for AI automation.
Our CEO Martin Whittaker joined Yahoo Finance to discuss the findings in our latest AI polling.
The New York Times reports on the UK’s social media ban for children under 16, and the worries from company executives that other countries may follow suit.
Yahoo Finance examines the “30% rule” – the idea that Americans should only spend 30% of their income on housing – to see if it’s actually still feasible in this era of slowing wages and hyperinflation.
Axios looks at rising CEO optimism despite the current headlines.
Axios looks at how, for the first time, a majority of U.S. households have both parents working full-time.
63% of the American public and 67% of institutional investors and analysts believe AI-driven profit gains should be reinvested in workers. Corporate leaders instead prioritize reinvesting in R&D (72%) and delivering returns to shareholders (54%).
“Our research suggests some sizeable gaps exist between how corporate leaders think about AI deployment and what the public and investors would like to see,” said Just Capital CEO Martin Whittaker. “The public understands the economic upside AI helps to create – but they need convincing that they stand to benefit from the gains. Companies that are able to do that will be rewarded with greater trust and a stronger overall license to operate. As the impacts of the AI transition continue to take shape, this will be extremely valuable.”
Public optimism on economic growth climbed 12 points (47% Fall 2025 to 59% Summer 2026).
Worryingly, the share of corporate leaders expecting large-scale job losses within the next 2–3 years nearly doubled, from 13% in Spring 2026 to 22% in Summer 2026. The public remains equally concerned about large-scale job loss and fewer entry-level positions.
The share of corporate leaders willing to dedicate more than 5% of AI investment to support displaced workers has more than doubled in the past six months (9% in Fall 2025 to 17% in Summer 2026).
The analysis above comes from the third wave of Just Capital’s unique quarterly survey of the American public, investors, and corporate leaders, which is designed to offer executives insight from key stakeholders as they aim to build trust, manage risk, and unlock AI’s upside potential. By measuring how perceptions and priorities shift across these groups over time, Just Capital aims to help business leaders make fully informed decisions as the AI landscape evolves. The inaugural wave was conducted in Fall 2025, and the spring wave was released in April 2026
SpaceX will begin trading this morning with what is projected to be the largest IPO on record. I tend to look at these historic moments through a just lens. What does the average American expect of a company worth trillions of dollars? And what do they think of a single person being worth $1 trillion?
We decided to take these questions to the public. The results are illuminating for anyone looking to build trust in this era of extreme wealth – and were more measured and nuanced than one might expect.
Only 10% of Americans said a trillion-dollar company’s first responsibility is to its shareholders. Fully 80% want these companies to pay their workers well, give employees a real stake in the business, and reinvest in the communities where they operate. Creating value for stakeholders ranked far ahead of philanthropy. No-one is asking companies for a handout. They’re asking them to give others a stake in their success.
When it comes to extreme personal wealth, a majority, 57%, said it is acceptable for a single individual to be worth a trillion dollars or more. In today’s climate of anti-capitalist backlash that might be a surprise. But it comes with a string attached. The largest group, 34%, called it acceptable only if the wealth was built responsibly and without exploiting others.
The public is savvy. It’s OK to be wildly successful financially provided it has been done in a way that widens access to opportunity and builds value for others rather than extracting from them.
Be well,
Martin
This newsletter was written mostly by humans with a bit of help from AI.
The Wall Street Journal spoke with over a dozen leading economists on the effect AI will have on companies, workers, the country at large, and more. As expected, opinions run the gamut.
Fortune reports on Palantir CEO Alex Karp’s comments that companies touting AI layoffs are creating their own regulatory demise, stating: “if you run around saying AI allowed you to fire two-thirds of your workforce…you might as well just go sign up for the Bernie Sanders manifesto.”
Axios looks at how AI is helping mask America’s literacy crisis – with nearly 160+ million Americans unable to read past a 6th grade level – and how it might continue to exacerbate the problem.
The New York Times looks at Trump’s idea for the government to take a stake in major AI corporations.
Courts have struck down President Trump’s $100,000 fee on H1-B visas. The Washington Post has the story.
Meta is launching America’s Workforce Academy, an initiative to fast-track more Americans into trades with a starting investment of $115 million.
CNBC looks at why 51% of U.S. adults believe that the American dream is out of reach for most people right now.
The Disruption Lab highlights the life and work of former Just Capital board member Dan Hesse, and the lesson that “If your system separates business from community, it will produce growth that doesn’t reach the people who need it most…because the architecture wasn’t built to connect them.”
Axios looks at how inflation has risen to its highest point in the last three years, and how it’s affecting families across the U.S.
