Episode #604 - Remembering 9/11, Reflecting on America at 250

Twenty-five years to the day after the attacks of September 11, 2001, Ron and Ed commemorate a day that changed America and changed each of us in ways both large and small. They share personal stories and memories from that time, reflecting on where they were, what they experienced, and what remains vivid a quarter-century later.

Against the backdrop of America’s 250th anniversary, the conversation broadens to consider the country we were then, the country we are now, and the ideals that have endured through crisis, conflict, and change. Along the way, Ron and Ed offer a few additional USA 250 reflections on liberty, citizenship, national character, and the remarkable resilience of the American experiment.

A personal and contemplative episode about memory, gratitude, loss, and what it means to remember.

SHOW NOTES

Segment one

• 25 years ago. (H/t to Robert Wood for sending along the image)

• “Look Back in Anger at 9/11” by Charles Cook for the National Review https://www.nationalreview.com/2026/09/look-back-in-anger-at-9-11/ 

• Heather Renee Penney, aka Heather “Lucky” Penney https://en.wikipedia.org/wiki/Heather_Penney 

Segment two

• “On 9/11 in New York: A personal remembrance” by Jay Nordlinger https://thedispatch.com/article/september-11-new-york-city/

• Derek Jeter's Conversation with George W. Bush Before He Threw the Ceremonial First Pitch Prior to Game 3 of the 2001 World Series https://www.reddit.com/r/NYYankees/comments/1wdnd17/derek_jeters_conversation_with_george_w_bush/ 

• (And it only took us 25 years…) “Gateside by TSA PreCheck provides members with access to the terminal beyond airport security, even when they aren’t flying” https://www.tsa.gov/precheck/gateside-tsa-precheck 

• Rumsfeld summarized this strategic mindset by noting that because you cannot bring the victims back, "the goal is not to retaliate—or it's not retribution. The goal is to protect the American people." https://www.cbsnews.com/news/rumsfeld-we-had-no-guidebook-for-9-11/

Segment three

• The Chaser APEC pranks via Wikipedia https://en.wikipedia.org/wiki/The_Chaser_APEC_pranks 

• “On September 21, 2001” by Ed Kless https://www.edkless.com/blog/2011/09/on-september-21-2001 

• Brain examination scheduled in 3…2…1… “Roger Waters to headline 9/11 ‘truth’ conference at NYC-owned museum” https://www.timesofisrael.com/roger-waters-to-headline-9-11-truth-conference-at-nyc-owned-museum/ 

• “Nation Reconsidering Trial By Jury Of Peers After Discovering That Our Peers Are All Dummies” https://babylonbee.com/news/nation-reconsidering-trial-by-jury-of-peers-after-discovering-that-our-peers-are-all-dummies 

Segment four

• “Did the Terrorists Win? However one defines victory, America and the free world assuredly lost.” by Paul Miller https://thedispatch.com/article/september-11-terrorists-china-winning/ 

• During Operation Yellow Ribbon on September 11, 2001, Gander International Airport received 38 diverted international flights carrying roughly 6,600 stranded passengers and crew after U.S. airspace closed. More info here: https://www.cntraveler.com/story/an-ode-to-gander-airport-25-years-after-9-11 

• “America at 250: 25 Movies to Celebrate America” https://www.nationalreview.com/2026/07/twenty-five-movies-to-celebrate-america-at-250/ 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #603 - Deep Story: Interview with Bob Rogers

What makes an experience unforgettable? Why do some ideas, brands, museums, and attractions merely inform us while others permanently change how we think, feel, and act?

In this episode of The Soul of Enterprise, Ron and Ed welcome Bob Rogers, founder of BRC Imagination Arts and author of Deep Story: The Complete Guide to Creating Transformational Themed Attractions. Drawing on decades of experience designing award-winning visitor experiences for organizations ranging from Disney and NASA to Coca-Cola and the Abraham Lincoln Presidential Library and Museum, Bob explains the difference between entertainment, engagement, and true transformation.

The conversation explores the power of storytelling to shape identity, create lasting emotional connections, and inspire action. Bob shares the principles behind “Deep Story,” the framework he developed for creating experiences that move audiences beyond awareness and into meaningful change. Together, the hosts and Bob discuss what business leaders, educators, marketers, and experience designers can learn from the world’s most successful attractions—and why the future belongs not merely to the Experience Economy, but to organizations capable of creating transformation.

Whether you’re building a brand, leading a firm, teaching a subject, or simply fascinated by the art and science of storytelling, this episode offers a masterclass in creating experiences people never forget.

ABOUT BOB ROGERS

Bob Rogers is the founder of BRC Imagination Arts, a globally recognized design and production company that creates transformative visitor experiences for leading brands, museums, and cultural institutions. A filmmaker, inventor, writer, and master storyteller, Bob has earned Academy Award nominations, received the IAAPA Thea Award for Lifetime Achievement, and helped shape attractions for organizations including Disney, NASA, Coca-Cola, and the Abraham Lincoln Presidential Library and Museum

SHOW NOTES

Segment one

• So what is Bob’s book about? “If you seek to change the world, permanently and measurably increasing your visitors’ interest in your subject or your brand, read on. This book is for you.” More here: https://www.amazon.com/dp/1963714156?lv=shuf&channelId=500&plpRedirect=mhFallback 

• The famous quote by baseball legend Yogi Berra is, "If you don't know where you are going, you might wind up someplace else."

• Coined by Joe Pine and Jim Gilmore in their framework on the Transformation Economy, an “invitational transformation” is a marketing experience where a company invites customers to evolve or change their identity. This is right up Bob’s alley for our conversation today.

• "Story telling implies a one-way communication. I’m telling you something. Story making is […] participatory. It’s reacting to what the audience or the customer is doing. And it allows the customer or the audience to be a participant in deciding what happens next." —Bob Rogers of BRC

Segment two

• Here is a direct link to the book Ron “begged” you to get at the beginning of segment two: https://www.amazon.com/dp/1963714156?lv=shuf&channelId=500&plpRedirect=mhFallback 

• “If you want to connect the heart of the audience with the heart of the subject you go deep into the audience and deep into the subject or the brand. And what you’re looking for […] is an emotional trigger.” —Bob Rogers of BRC

• Regarding the emotional trigger and how we can find it. “They start with the technology they want to use; they start with the design of the building they want to use…instead of something that the audience is actually interested in.” —Bob Rogers of BRC

• Bob Rogers was fired from Disney three times. This is not an embellished story. Bob has told this story before including on The Soul of Enterprise today.

Segment three

• Bob Rogers earned a Guinness World Record for producing and writing “Impressions de France”, which achieved the title for the longest-running daily screening of a film in the same theater. https://www.bobrogers.com/awards 

• Bob has a STRONG process for arriving at an objective statement at the start of each project. He shared the start of this process on the show today, “Talk about what’s the difference in behavior and make it observable and measurable.” —Bob Rogers of BRC

• Today I learned: Joe Pine says that Bob Rogers introduced him to the idea of “invitational transformations.” Pine initially questioned whether that was really a transformation, but came to believe it was and subsequently incorporated the concept into his own thinking about the Transformation Economy. More here: https://transformationsbook.substack.com/p/deep-story 

Segment four

• Two projects that stand out to Bob Rogers: BRC Imagination Arts itself (Bob has been building this company for 45 years) and “the next one” (It’s always the next one as Bob says)

• “In the end, this is a service. The client has a vote in it. It’s their ‘visitor center’. You want them to be happy. So if they direct us to do something that we think is not their best choice, we have a responsibility to tell them. I think you’ve got a better choice.” —Bob Rogers of BRC closing words on The Soul of Enterprise today.

• A big THANK YOU to Bob Rogers of BRC Imagination Arts for joining us today. Folks, you need to read his book, Deep Story. Seriously. More at this link: https://www.amazon.com/dp/1963714156?lv=shuf&channelId=500&plpRedirect=mhFallback 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #602 - The Answer Is Still Transaction Costs: Michael Munger Returns

Professor Michael Munger returns to The Soul of Enterprise for a fourth visit and once again, the answer is transaction costs. Ron and Ed catch up with the Duke University economist, political scientist, author, and host of The Answer Is Transaction Costs to explore some of the provocative questions he has tackled in the podcast’s latest summer episodes.

Why is being late an economic problem rather than merely bad manners? How have social media dramatically lowered the cost of coordinating outrage? Can transaction costs even explain the battle between the person who makes a resolution tonight and the same person who breaks it tomorrow?

Along the way, we’ll explore Munger’s larger argument that transaction costs are hiding in plain sight, shaping markets, institutions, cooperation, incentives, and everyday human behavior. It’s another wide-ranging conversation with one of TSOE’s favorite economists and the Knower of Important Things.

ABOUT MICHAEL C. MUNGER

Mike Munger is the Pfizer/Edmund T. Pratt, Jr. University Distinguished Professor at Duke University, with appointments in Political Science, Economics, and Public Policy. A former president of the Public Choice Society and former FTC staff economist, he studies markets, institutions, regulation, and the sharing economy. He is the author of Tomorrow 3.0 and The Sharing Economy and hosts The Answer Is Transaction Costs podcast.

SHOW NOTES

Segment one

• “Capitalism may contain the sees of its own destruction.” —Michael Munger from his book “Is Capitalism Sustainable?” https://www.amazon.com/dp/B07VZ8ZP11?lv=shuf&channelId=500&plpRedirect=mhFallback 

• “As long as we continue to have a dynamic economy, yes, innovation will save us.” —Michael Munger in reference to his sharing economy book. More info here: https://polisci.duke.edu/books/tomorrow-30-transaction-costs-and-sharing-economy 

• Professor Munger has a theory on AI and it starts like this (the rest is in segment one): “For many firms, they’re going to get smaller. For some firms, they’re going to get much larger.” —Michael Munger

• “For many people, there’s going to be poverty, and I think populism is the next great democratic threat. And it’s because of transaction costs.” —Michael Munger

Segment two

• “Remember, transaction costs are triangulation, transfer, and trust.” —Michael Munger; More at this link: https://thedailyeconomy.org/article/to-consumers-all-costs-are-transaction-costs/ 

• “Uber doesn’t sell rides. Everybody thinks that Uber sells rides. What Uber sells is a reduction in transaction costs. They sell connections.” —Michael Munger

• Today I learned: “The title of my podcast, The Answer is Transaction Costs, does come from my dissertation defense” —Michael Munger https://taitc.buzzsprout.com/ 

• “I think there are people who would argue that the current Congress has excessive transaction costs, but that system was designed to protect minorities, and it’s doing it’s job […]” —Michael Munger

Segment three

• What’s the biggest transaction cost in American politics? “Right now we have, paradoxically, sort of weak parties in the sense that the margins are so close that neither the Democrats nor the Republicans have much ability to force their members to vote in a particular way.” —Michael Munger

• Isn’t the point to have competition between the [political] parties, no so much within the parties? “There’s an empirical answer to that question, and that is, what is the fastest growing group in the American electorate? And the answer is independents, people who associate with neither party” —Michael Munger

• On charismatic authority: https://en.wikipedia.org/wiki/Charismatic_authority 

• "Time price" measures the actual cost of a good or service by calculating how many hours of work are required to buy it, a concept Mark Twain famously illustrated through economic debates in A Connecticut Yankee in King Arthur's Court. https://humanprogress.org/mark-twain-explains-time-prices/ 

Segment four

• “Who was their first?” gives us a sense of the cause of externality based on the right of first possession. Wrap your had around that one and then check out segment four with Professor Munger today.

• Nobel laureate economist William Nordhaus found that innovators and producers capture only about 2.2% of the total economic value they generate, while the remaining 97.8% flows to society. https://www.iedm.org/entrepreneurs-give-much-more-than-they-take/ 

• A big THANK YOU to Professor Munger for joining us today. Check out his podcast, The Answer Is Transaction Costs, in your favorite podcast player or at this link https://taitc.buzzsprout.com/ 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #601 - Markets, Martians & Muenster

Ed and Ron (mostly Ron) empty out the overflowing stack of stuff and roam wherever intellectual curiosity takes them. On the docket: how Adam Smith's invisible hand actually works; what we should make of the latest government files on UFOs and UAPs (color us skeptical); whether standing desks are really healthier than sitting; the strange economics and crony capitalism of the college textbook market; encouraging news in the fight against dementia; and, in what may amount to professional heresy, the case against CPA licensing.

And because no serious program on economics, business, and human flourishing would be complete without it, we'll investigate an important question of Western civilization: Does Britain really have more cheeses than France?

SHOW NOTES

Segment one

• How does Adam Smith’s invisible hand work? “Capitalism, as Told by Its Enemies” https://thedispatch.com/article/capitalism-socialism-dictionary-bias/ 

• “How Walmart Improves the Lives of Everybody, Especially the Poor” by Stephanie Rugolo https://www.cato.org/blog/how-walmart-improves-lives-everybody-especially-poor 

• The Stanford Encyclopedia of Philosophy https://plato.stanford.edu/ 

• “Capitalism does not carry us in its heart” —French novelist and minister André Malraux via Joe Pine’s substack https://transformationsbook.substack.com/p/at-the-heart-of-business 

Segment two

• Crony capitalism for college textbooks https://www.nationalreview.com/corner/colleges-against-books/ 

• "Rule 164" refers to a 2016 U.S. Department of Education regulation allowing universities to bundle the cost of digital textbooks and course supplies directly into tuition and fees. More info here: https://www.thecollegefix.com/obama-era-rule-could-be-driving-students-away-from-physical-books/ 

• Starting in the fall of 2027, incoming freshmen in the College of Literature, Science, and the Arts at the University of Michigan will not receive traditional letter grades on their external transcripts or GPAs for their first semester. Instead, their official transcripts will show a grade of "pass" or "no credit”. More info here: https://www.thv11.com/article/news/nation-world/university-michigan-freshmen-first-semester-grades-transcripts/507-e4700d53-8a1c-4667-bc96-efe0ce903f87 

• “The End of Reading is Here” By Rose Horowitch https://www.theatlantic.com/magazine/2026/08/reading-crisis-postliterate-age/687618/ 

Segment three

• UFOs and UAP https://www.nationalreview.com/2026/08/will-the-pentagons-latest-ufo-files-satisfy-the-alien-theorists/

• The Fermi Paradox as described by the SETI Institute https://www.seti.org/research/seti-101/fermi-paradox/ 

• Why standing at your desk may be little better than sitting https://www.economist.com/science-and-technology/2026/08/14/why-standing-at-your-desk-may-be-little-better-than-sitting/ 

• “Chipotle Burrito Abundance” by Gale Pooley https://galepooley.substack.com/p/chipotle-burrito-abundance 

• “Wall Street Is Sending Software Companies a Message About AI Pricing” by Mark Stiving https://impactpricing.com/blog/wall-street-is-sending-software-companies-a-message-about-ai-pricing/ 

Segment four

• “The Case Against CPA Licenses (Yes, Really)” via The Net Gains on September 17, 2025 https://www.thenetgains.co/p/the-case-against-cpa-licenses-yes-really  

• “Bootleggers, Baptists, & CPAs: Rethinking Licensure” featuring Ron Baker https://cpatrendlines.com/2025/09/04/bootleggers-baptists-and-cpas-rethinking-licensure-in-the-profession-arc/ 

• “Britain has more cheeses than France. The whey ahead may be harder” https://www.economist.com/britain/2026/08/10/britain-has-more-cheeses-than-france-the-whey-ahead-may-be-harder  

• Monty Python’s The Cheese Shop https://www.youtube.com/watch?v=Hz1JWzyvv8A 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #600 - Beyond Membership: Interview with Denise Froemming

What does it take to lead one of the largest state CPA societies through one of the most transformative periods in the profession’s history? In this episode, Ron and Ed welcome Denise Froemming, President and CEO of CalCPA, for a wide-ranging conversation about the future of accounting, professional associations, and leadership in an era defined by AI and rapid change.

Drawing on her experience leading major professional organizations, Denise shares how CalCPA is reimagining its role—from serving members to building a vibrant professional community that helps CPAs thrive amid shifting business models, changing talent expectations, and emerging technologies. The discussion explores the profession’s pipeline challenge, the evolving value of the CPA credential, the importance of authentic leadership, and why curiosity and adaptability are becoming the defining traits of successful professionals.

Whether you’re a CPA, firm leader, educator, or simply interested in how professions reinvent themselves, this conversation offers practical insights into leading through change while keeping people at the center.

About Denise Froemming
Denise Froemming, CPA, CAE, MBA, is President and CEO of CalCPA and the CalCPA Education Foundation. An accomplished association executive, she previously served as CEO of the Institute of Real Estate Management (IREM) and held executive leadership roles at the American Health Information Management Association (AHIMA). Denise is recognized for driving organizational transformation, fostering inclusive cultures, and advancing innovation to help the accounting profession thrive in a rapidly changing world.

SHOW NOTES

Segment one

• “It’s so important for us as CPAs to understand where our clients are and where they are going, to be able to help with foresight for that.” —Denise Froemming of CalCPA

• “If you’re moving slower than the market, you’re not going to be relevant going forward.”  —Denise Froemming of CalCPA

• Love this: “Making Sense of What Comes Next” https://www.calcpa.org/whats-happening/cpas-making-sense-of-what-comes-next 

• “The CPA's AI Checklist: What to Ask Before You Deploy” https://www.calcpa.org/whats-happening/california-cpa-magazine/the-cpa-s-ai-checklist-what-to-ask-before-you-deploy 

Segment two

• “I would say to all the young professionals out there, lean in and be curious because you just never know what might happen.” —Denise Froemming of CalCPA

• What is top of mind for accounting firms based on recent CalCPA conversations? Service models, talent, how we show up holistically, and how we can help others

• CalCPA has academic scholarships available. Here is the link: https://www.calcpa.org/membership/chapters/chapter-scholarship-information 

• In partnership with the Alliance of Black Women Accountants, CalCPA offers empowerment grants https://www.calcpa.org/donate/empowerment-grant 

Segment three

• The CalCPA Connect app is the official mobile app for members of the California Society of CPAs. Here is the app link: https://apps.apple.com/us/app/calcpa-connect/id6760369220 

• Stay tuned for more information on CalCPA’s Next Page, a book club for the industry! 

• It’s so refreshing to hear someone in Denise’s role talk about how to advocate for the industry and educate those in the community. “Impact” is the key word for CalCPA.

• The CalCPA Youtube channel referenced by Ron today: https://www.youtube.com/calcpa 

Segment four

• Ed mentioned this at the top of segment four during the show today. If you are in California, please consider joining CalCPA at this link: https://account.calcpa.org/join 

• “Key Political and Policy Trends Taking Shape” from CalCPA https://www.calcpa.org/whats-happening/california-cpa-magazine/key-political-and-policy-trends-taking-shape 

• A big THANK YOU to Denise Froemming for joining us today! CalCPA is doing great work for the accounting industry, specifically in California. Check out their work at this link: https://www.calcpa.org/ 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #599 - Magis Magnifica Humanitas: Building Babel or Jerusalem

Last week, Ron and Ed began exploring Pope Leo XIV’s landmark social encyclical Magnifica Humanitas. This week, they continue the conversation, moving beyond first impressions into the document’s deeper implications for business, technology, and the future of human flourishing.

What does it mean to remain fully human in an age increasingly shaped by artificial intelligence? Can technology serve the common good without reducing people to data points or algorithms? And is AI simply another powerful tool—or does it force us to confront far more fundamental questions about freedom, responsibility, work, and what it means to become the person we are called to be?

Along the way, Ron and Ed reflect on the encyclical’s surprising engagement with economics, subsidiarity, solidarity, transhumanism, and the enduring tension between efficiency and human dignity. Whether you agree with every conclusion or not, Magnifica Humanitas offers one of the most thoughtful frameworks yet for understanding the AI revolution through the lens of philosophy, theology, and civilization itself.

Join us as we continue asking the question that lies at the heart of both the encyclical and The Soul of Enterprise: not simply what AI can do, but what kind of people—and what kind of society—it is helping us become.

SHOW NOTES

Segment one

• From paragraph two of the Magnifica Humanitas encyclical letter: “We seek to identify new paths for the common good and for promoting a dignified life for all.” The common good is similar to what we would call the general welfare in the United States. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• “This is a profound document and it’s worthy of 10 shows.” —Ron Baker https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• From paragraph 4: Today, however, we find ourselves facing a new situation. The power and prevalence of emerging technologies are interwoven into the fabric of daily life, shaping decision-making processes and deeply affecting the collective imagination: “Never has humanity had such power over itself.” https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• Pope Leo XIV addresses why the Catholic Church even needs to respond to a technology shift via the encyclical letter in chapter one. More here: https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html#CHAPTER_ONE 

Segment two

• From paragraph 68: Moreover, higher-level institutions must recognize, protect and promote the freedom and creativity of lower-level entities, coordinating their contributions so that they can cooperate effectively for the common good. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• (As Ed notes, opportunities - not outcomes) From paragraph 80: In the digital age, a just social order guarantees everyone equal access to opportunities, protects the youngest and weakest members of society, combats hate and misinformation and subjects the use of data and technology to public oversight, so that the guiding principle is not solely profit but the dignity of every person and the common good of all people. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• From paragraph 98: Indeed, current AI systems are more “cultivated” than “built,” for developers do not directly design every detail, but instead create a framework within which the intelligence “grows.” https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• From paragraph 99: So-called artificial intelligences do not undergo experiences, do not possess a body, do not feel joy or pain, do not mature through relationships and do not know from within what love, work, friendship or responsibility mean. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

Segment three

• From paragraph 111:  I wish to address a special appeal to those who develop artificial intelligence. In one sense, technological innovation can represent human participation in the divine act of creation. Developers, therefore, bear a particular ethical and spiritual responsibility, for every design choice reflects a vision of humanity. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• From paragraph 120: To eliminate suffering entirely would mean, in the end, extinguishing love and desire as well. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• From paragraph 129: Does AI “make human life on earth ‘more human’ in every aspect of that life? Does it make it more worthy of man?” https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• From paragraph 130: The way we understand and shape relationships, work and institutions, in practice reveals our fundamental values. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

Segment four

• So what do we rely on to coordinate billions of strangers? From paragraph 163: More than ever, in the age of AI and robotics, it is no longer possible to rely solely on the “invisible hand” of the market. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• From paragraph 167: When access to work is hindered by high levels of unemployment, inadequate systems of training or structural barriers, many young people find the path to their human and professional fulfilment blocked. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• Paragraph 173: Nothing in the world of AI is immaterial or magical. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• From paragraph 195: It is much easier to start a war than to stop it, and yet, discussion on conflict prevention remains tragically marginal. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• From paragraph 238: Indeed, we must consider the digital world as a new continent to be evangelized, one that requires generous missionaries who are mature in the faith. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #598 - Magnifica Humanitas: Second interview with Father Vincent DeRosa

Father Vincent DeRosa returns to The Soul of Enterprise to examine Magnifica Humanitas, Pope Leo XIV’s first encyclical and a landmark reflection on safeguarding human dignity in the age of artificial intelligence. Building on our earlier conversation about Rerum Novarum, we explore how Catholic social teaching continues to evolve while remaining rooted in timeless principles.

Ron, Ed, and Father Vincent discuss why the Church sees AI as a defining challenge of our era, drawing compelling parallels between today’s technological revolution and the Industrial Revolution that inspired Rerum Novarum 135 years ago. Together they unpack themes including the common good, human dignity, work, innovation, and the ethical responsibilities of business leaders as AI reshapes organizations and society.

Whether you’re religious or not, this conversation offers a thoughtful framework for asking one of the most important questions of our time: How do we ensure that technology serves humanity—rather than the other way around?

About Father Vincent DeRosa

Father Vincent DeRosa is a Catholic priest, educator, and thoughtful commentator on the intersection of faith, ethics, technology, and economics. Returning to The Soul of Enterprise after his popular discussion of Rerum Novarum, Father Vincent helps translate centuries of Catholic social teaching into practical insights for today’s business leaders. His work explores how enduring principles of human dignity and the common good can guide decision-making in the age of artificial intelligence.

SHOW NOTES

Segment one

• Here is a link to MAGNIFICA HUMANITAS directly from The Vatican https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• And here is Ed’s margined and lined PDF for easier note taking.

• “Technology is a thing to be used. It’s not a relationship to be had.” —Father Vincent DeRosa

• From the introduction of MAGNIFICA HUMANITAS: “Humanity, created by God in all its grandeur, is today facing a pivotal choice: either to construct a new Tower of Babel or to build the city in which God and humanity dwell together.” https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

• Referenced by Father Vincent DeRosa today, BOTH OpenAI and Anthropic have witnessed their systems breach (attack?) other company networks. Here are the links https://www.anthropic.com/news/investigating-incidents-cybersecurity-evals https://openai.com/index/hugging-face-model-evaluation-security-incident/ 

• From Chapter Four of MAGNIFICA HUMANITAS: “The use of digital platforms and AI systems is driving profound changes in public and political communication. Tools that could foster dialogue and participation are often used to construct distorted narratives and blur the boundaries between truth and falsehood, mixing facts with opinions.” https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html#Truth_as_a_common_good 

Segment two

• Send us an email to asktsoe@thresholdnow.com and Ed will send back a PDF version of MAGNIFICA HUMANITAS along with space for notes and your thoughts.

• “In Christianity, the common good is the search for dignity for everybody together, and all of us proceeding toward God together, and having the resources to do that.” —Father Vincent DeRosa

• “There must always be, in human relationships, a human proactive choice to sacrifice the self for the sake of another.” —Father Vincent DeRosa

• From Chapter Two of MAGNIFICA HUMANITAS on the principle of subsidiarity: “The principle of subsidiarity stems from the very same understanding of the human person that has guided our reflection on dignity and the common good.” https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html#The_principle_of_subsidiarity 

• Democracy in America by Alexis de Tocqueville https://www.amazon.com/dp/0226805360?lv=shuf&channelId=500&plpRedirect=mhFallback 

Segment three

• From Chapter Five of MAGNIFICA HUMANITAS: “Finally, I would like to employ the expression “to disarm,” which is close to my heart. Disarming AI means freeing it from the mentality of “armed” competition, which today is not limited simply to the military context, but is also an economic and cognitive phenomenon.” https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html#The_need_to_disarm_words 

• This might be the deepest question asked on the show today. From Ron to Father Vincent DeRosa: “AI isn’t just a technological revolution. It could be a spiritual one, too. Is that possible?”

• “It is incumbent upon man to use his time well to develop philosophy and poetry and the arts, and all of those other benefits that we all year for.” —Father Vincent DeRosa

Segment four

• From Chapter Four of MAGNIFICA HUMANITAS: “The pursuit of greater profits cannot justify choices that systematically sacrifice jobs, because the human person is an end, not a means, and the economic order must remain subordinate to human dignity and the common good.” https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html#problem_of_unemployment 

• From paragraph 118, chapter 3 of MAGNIFICA HUMANITAS: “Our relationship with life seems to be in crisis today. Everything that appears as a “limit” — incapacity, illness, old age, suffering, vulnerability — tends to be seen primarily as a defect to be corrected, rather than as a reality through which our humanity matures and opens itself to relationship. And yet we must remember that humanity flourishes not despite limitations, but often through them.” https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html#CHAPTER_THREE 

• A big THANK YOU to Father Vincent DeRosa for joining us today. There is no self promotion necessary. He would truly want as many listeners as possible to read MAGNIFICA HUMANITAS. Here is a link directly from The Vatican. It is a modern document and easy to read. https://www.vatican.va/content/leo-xiv/en/encyclicals/documents/20260515-magnifica-humanitas.html 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #597 - Rise 2040: A conversation with Tom Hood

The accounting profession has always adapted to change—but what if it could actively shape the future instead of simply reacting to it? In this episode, Ron and Ed welcome Tom Hood, EVP of Business Engagement & Growth at AICPA & CIMA, to discuss Rise2040, the profession-wide initiative designed to help accountants and finance professionals envision—and create—the future of the profession.

Tom explains why AI, automation, shifting client expectations, and changing talent models require a new mindset centered on foresight rather than hindsight. The conversation explores the key themes emerging from the Rise2040 project, including how trust becomes even more valuable in an AI-powered world, why accountants must evolve into strategic advisors, and what firms and finance leaders can do today to prepare for the next 15 years.

Whether you’re in public accounting, industry, or simply curious about where the profession is headed, this discussion offers a compelling look at how accountants can move from reacting to disruption to leading it.

About Tom Hood
Tom Hood, CPA, CGMA, CITP, is Executive Vice President of Business Engagement & Growth at AICPA & CIMA. A longtime thought leader on the future of accounting, he previously served as CEO of the Maryland Association of CPAs and is a LinkedIn Top Voice with more than 700,000 followers. Tom leads initiatives including Rise2040, helping accounting and finance professionals prepare for an AI-driven future through innovation, leadership, and strategic foresight.

SHOW NOTES

Segment one

• What’s Rise2040 about? Here is a link to the full vision report https://www.aicpa-cima.com/advocacy/landing/rise2040  

• The Rise2040 report separates broad “drivers” from specific hard and soft trends (as any proper trend report should do). Trust is the connective layer across all 5 drivers of the report. https://www.aicpa-cima.com/advocacy/landing/rise2040 

• The three hard trends identified in the Rise2040 report are: Regulations and standards, Demographics, and Technology https://www.aicpa-cima.com/advocacy/landing/rise2040  

• The DIKW Pyramid https://en.wikipedia.org/wiki/DIKW_pyramid 

Segment two

• The biggest finding from Rise2040? “What is the one thing that we absolutely can’t use. Consistently, across the world, […] responses were trust, ethics, and integrity.” —Tom Hood

• What does the profession need to most unlearn? “You have to go from being experts to being learners.” —Tom Hood via a conversation with Ms. Brown

• Which hard trend do you think the accounting profession is still dramatically underestimating? “I think it’s AI. That speed factor [and impact of AI]” —Tom Hood

• “In Rise2040 we talk about the idea of AI as a force multiplier for finance and accounting professionals, both in public practice and in corporate finance.” —Tom Hood (more at this link https://www.aicpa-cima.com/advocacy/landing/rise2040)

Segment three

• Who remembers the After Action Report (AAR)? Of course you do. Tom Hood and the AICPA ran an AAR on their previous vision reports (as one should) to help generate learnings for Rise2040. https://www.aicpa-cima.com/advocacy/landing/rise2040 

• Where is the accounting profession headed based on Rise2040? “We’re going from historian to strategist. Or, If I could summarize the whole thing, we’re moving from a past, heads down profession (looking in the rear view mirror) to a future tense profession, guiding people by looking out the windshield.” —Tom Hood https://www.aicpa-cima.com/advocacy/landing/rise2040 

• “The adoption of AI by our profession is not where it needs to be. And that’s tru of most firms, and most of the corporate groups as well.” —Tom Hood

• Rise2040: A human-led profession built on trust https://www.journalofaccountancy.com/issues/2026/jun/rise2040-a-human-led-profession-built-on-trust/ 

Segment four

• On private equity in the accounting industry: “As we look at it, it’s just another form of capitalization.” —Tom Hood

• Let’s end with some great news: “80% of our members are somewhat to highly optimistic about our future” —Tom Hood

• A big THANK YOU to Tom Hood for joining us today. The Rise2040 vision report is available now at this link https://www.aicpa-cima.com/advocacy/landing/rise2040  

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #596 - Should Government Fund Science - Interview with Terence Kealey

For decades, we’ve been told that scientific progress depends on government funding. But what if that assumption is wrong?

In this episode, Ron and Ed welcome Dr. Terence Kealey—physician, biochemist, former Vice-Chancellor of the University of Buckingham, and Adjunct Scholar at the Cato Institute—to explore one of the most controversial questions in science and public policy. Drawing on his research and books The Economic Laws of Scientific Research and Sex, Science and Profits, Kealey argues that markets, private institutions, and the scientific community itself are more than capable of driving innovation without government direction.

The conversation examines the economics of scientific discovery, the incentives created by public funding, the role of universities, and whether today’s research ecosystem encourages breakthrough innovation or bureaucratic conformity. Whether you agree with Kealey’s conclusions or not, his arguments challenge deeply held assumptions about how knowledge advances and who should pay for it.

If you’ve ever wondered whether science flourishes because of government—or despite it—this episode will give you plenty to think about.

About Dr. Terence Kealey
Dr. Terence Kealey is a British physician, biochemist, and economist of science. He served as Vice-Chancellor of the University of Buckingham from 2001 to 2014 and previously lectured in clinical biochemistry at the University of Cambridge. Now an Adjunct Scholar at the Cato Institute, he is the author of The Economic Laws of Scientific Research, Sex, Science and Profits, and numerous works examining the relationship between scientific innovation, markets, and public policy.

SHOW NOTES

Segment one

• Our guest today, Dr. Terence Kealey, has quite a depth of writings at Cato Institute. More at this link: https://www.cato.org/people/terence-kealey 

• Regarding government funding of science, Dr. Kealey penned this article for Cato - “NIH’s Lost Mission” https://www.cato.org/multimedia/cato-podcast/nihs-lost-mission 

• Not all government science funding is bad. “Government’s are surprisingly good at mission science.” —Dr. Terence Kealey

• “[Universities] want government funding. And, you know, you can’t blame them. We all want government funding. People who go swimming want government funding.” —Dr. Terence Kealey

Segment two

• “Until 1957, the American government funded only a tiny amount of mission science. The rest was all done by the private sector, and there’s no sense of important science not being done in those days.” —Dr. Terence Kealey

• “Industrial science isn’t peer-reviewed. […] Peer-reviewed science is science that’s removed from reality.” —Dr. Terence Kealey

• On peer-reviewed vs industrial science: “It’s technology that keeps science honest.” —Dr. Terence Kealey

• One of Dr. Kealey’s recent features is called “Rescuing Science: Recovering Science as Civic Virtue”. More here: https://www.cato.org/multimedia/media-highlights-tv/terence-kealey-featured-lecture-rescuing-science-recovering-science 

Segment three

• “For every dollar, pound, or euro a government puts into science, up to $3 are taken out of the science budgets of companies. What happens when the government funds science is all those scientists go into government.” —Dr. Terence Kealey

• “The Inverted Pyramid of Authority—Why Government Nutrition Advice Deserves Less, Not More, Trust” by Dr. Terence Kealey https://www.cato.org/blog/inverted-pyramid-authority-why-government-nutrition-advice-deserves-less-not-more-trust 

• “The private sector is an astonishingly generous funder of pure science for the simple reason that it’s as proprietary as any other form of science.” —Dr. Terence Kealey 

• The Economic Laws of Scientific Research by Dr. Terence Kealey https://www.amazon.com/Economic-Laws-Scientific-Research/dp/0333560450 

Segment four

• Dr. Terence Kealey wrote “End Government Science Funding” for Cato in 1997. NINETEEN. NINETY. SEVEN. https://www.cato.org/commentary/end-government-science-funding 

• We touched on space research quite a few times today. Dr. Terence Kealey discussed space entrepreneurship a few years back on Radio America’s Made in America. More at this link: https://www.cato.org/multimedia/media-highlights-radio/terence-kealey-discusses-space-entrepreneurship-radio-americas 

• A big THANK YOU to Dr. Terence Kealey for joining us today. He has a large body of work at Cato Institute that is worth your time. More here: https://www.cato.org/people/terence-kealey 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #595 - Second interview with David Barrett

What happens when you refuse to build your company the “right” way?

Ron and Ed welcome back David Barrett, founder and CEO of Expensify, to discuss the unconventional thinking that transformed a simple expense reporting app into a publicly traded fintech platform. From bootstrapping product-led growth and rejecting traditional enterprise sales models to building a culture around engineering, experimentation, and long-term thinking, David shares why questioning accepted business wisdom has been central to Expensify’s success. The conversation explores innovation, leadership, AI, remote work, company culture, and why sometimes the best strategy is to ignore conventional advice and solve the problem that’s actually in front of you. Whether you’re an entrepreneur, accountant, or business leader, this episode offers a fresh perspective on building companies that last.

About David Barrett
David Barrett is the founder and CEO of Expensify, the expense and financial management platform he launched in 2008. A lifelong programmer and computer engineer, David previously led engineering at Red Swoosh before its acquisition by Akamai. Under his leadership, Expensify has grown into a global fintech company serving millions of users and became a publicly traded company on Nasdaq in 2021. He is widely recognized for his unconventional approach to technology, leadership, and product innovation.

SHOW NOTES

• Our guest today, David Barrett, founded Expensify and is still the CEO today. More at this link: https://en.wikipedia.org/wiki/Expensify 

• David Barrett’s main-stage appearance at Scaling New Heights 2026 in Orlando on June 14 focused primarily on what genuinely useful AI should look like inside accounting and expense-management software.

• This was almost a throwaway quote from David but there is a GOOD bit of prescience in here: “In an AI world what functionality do you need as a platform, versus what can the AI build for you.”

• “We think the part that sucks about expense management is trying to beg your team for information. That’s why we rebuilt Expensify around this notion of collaboration, around meeting the salesperson where they are.” —David Barrett, CEO of Expensify

• Episode 102 was our first interview with the amazing David Barrett, CEO of Expensify https://www.thesoulofenterprise.com/102 

• Great conversation today about the difference between Claude and ChatGPT. Here’s the (really) quick hit: Claude is more niche-focused. ChatGPT is AI for anybody.

• “AI-driven expense management […] is the inevitable future of expense management.” —David Barrett, CEO of Expensify

• In economics, the Jevons paradox, or Jevons effect, is said to occur when technological improvements that increase the efficiency of a resource's use lead to a rise, rather than a fall, in total consumption of that resource. https://en.wikipedia.org/wiki/Jevons_paradox 

• On AI and our general involvement, the phrase “human in the loop” has become common. GREAT perspective from our guest today: “Fundamentally, it can’t just be humans in the loop. It should be humans in the lead.” —David Barrett, CEO of Expensify

• From David Barrett on LinkedIn: “I think it's likely that AI demand will increase massively. But I don't see why that demand would necessarily go to the datacenters that are being built out at breakneck speed.” More here: https://www.linkedin.com/posts/davidmbarrett_i-think-its-likely-that-ai-demand-will-increase-activity-7479912797783470080-EfMn/ 

• Ed mentioned a great tool on the show today. MacWhisper (not an ad) https://www.macwhisper.com/ 

• Why Microsoft And Amazon Are Turning To Nuclear Power For AI https://www.forbes.com/sites/rrapier/2026/02/19/why-microsoft-and-amazon-are-turning-to-nuclear-power-for-ai/ 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #594 - The Declaration at 250

The Declaration of Independence is far more than a historical document. It is a statement of principles that has inspired generations to pursue a more perfect union. In this special Independence Day episode, Ed brings portions of the Declaration to life with a dramatic reading before Ron and Ed explore its enduring influence on America’s greatest speeches.

From Frederick Douglass’s searing critique in What to the Slave Is the Fourth of July? to Abraham Lincoln’s Gettysburg Address and Second Inaugural, Calvin Coolidge’s Sesquicentennial address, and Martin Luther King Jr.‘s iconic “I Have a Dream” speech, the conversation traces how each generation has wrestled with and renewed and expanded the Declaration’s promise of liberty, equality, and human dignity.

Join us for a thoughtful discussion on the power of words, the ideals that continue to shape the American experiment, and why the Declaration still has something profound to say nearly 250 years later.

SHOW NOTES

Segment one

• On America’s 250th, go back to “Democracy in America” from The Economist https://www.economist.com/united-states/2026/06/11/on-americas-250th-go-back-to-democracy-in-america 

• Tim Berners-Lee via Wikipedia https://en.wikipedia.org/wiki/Tim_Berners-Lee

• “When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.” https://www.archives.gov/founding-docs/declaration-transcript 

• “We hold these truths to be sacred & undeniable” — Jefferson’s original rough draft https://www.loc.gov/exhibits/declara/ruffdrft.html

• Patrick Henry from the famous “Give Me Liberty or Give Me Death” speech: “No man thinks more highly than I do of the patriotism, as well as abilities, of the very worthy gentlemen who have just addressed the House. But different men often see the same subject in different lights; and, therefore, I hope it will not be thought disrespectful to those gentlemen if, entertaining as I do opinions of a character very opposite to theirs, I shall speak forth my sentiments freely and without reserve. This is no time for ceremony. The question before the House is one of awful moment to this country. For my own part, I consider it as nothing less than a question of freedom or slavery; and in proportion to the magnitude of the subject ought to be the freedom of the debate. It is only in this way that we can hope to arrive at truth, and fulfill the great responsibility which we hold to God and our country. Should I keep back my opinions at such a time, through fear of giving offense, I should consider myself as guilty of treason towards my country, and of an act of disloyalty toward the Majesty of Heaven, which I revere above all earthly kings.” https://avalon.law.yale.edu/18th_century/patrick.asp 

Segment two

• From Jefferson: “But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new guards for their future security." https://teachingamericanhistory.org/document/declaration-of-independence-2/ 

• Declaring Independence: Drafting the Documents - This is Jefferson's "original Rough draught" of the Declaration of Independence https://www.loc.gov/exhibits/declara/ruffdrft.html 

• John Adams to John Quincy Adams on June 29, 1795 https://www.masshist.org/publications/adams-papers/index.php/view/ADMS-04-10-02-0296 

• “The debate over C-SPAN's cameras in the House” https://www.npr.org/2023/01/15/1149347452/the-debate-over-c-spans-cameras-in-the-house 

• “You can enjoy the highest quality of life in human history but still be miserable if you are envious.” —Gale Pooley https://galepooley.substack.com/p/happiness-quality-of-life-minus-envy 

Segment three

• “What, to the American slave, is your 4th of July?” This is Frederick Douglass’s Fourth of July speech from 1852 https://loveman.sdsu.edu/docs/1852FrederickDouglass.pdf 

• We will have the original Jefferson draft and the final language of the Declaration of Independence on the website for comparison. Here is the full PDF.

• Read Martin Luther King Jr.'s 'I Have a Dream' speech in its entirety https://www.npr.org/2010/01/18/122701268/i-have-a-dream-speech-in-its-entirety 

• “But 100 years later, the Negro still is not free. One hundred years later, the life of the Negro is still sadly crippled by the manacles of segregation and the chains of discrimination. One hundred years later, the Negro lives on a lonely island of poverty in the midst of a vast ocean of material prosperity. One hundred years later the Negro is still languished in the corners of American society and finds himself in exile in his own land. And so we've come here today to dramatize a shameful condition. In a sense we've come to our nation's capital to cash a check.” —Martin Luther King, Jr 

Segment four

• “1976, Gerald R. Ford, and America's Bicentennial Year” by Jay Nordlinger https://www.thenextmove.org/p/gerald-r-ford-and-americas-bicentennial 

• “Such transfusions of traditions and cultures, as well as of blood, have made America unique among nations and Americans a new kind of people. There is little the world has that is not native to the United States today.” We have been able to offer citizenship to pretty much everybody. How? Because, said Ford, “we are uniquely a community of values, as distinct from a religious community, a racial community, a geographic community, or an ethnic community.” https://www.thenextmove.org/p/gerald-r-ford-and-americas-bicentennial 

• President Ford: “Seldom in history have the men who made a revolution seen it through, but the United States was fortunate.” […] “The result of their deliberations and compromises was our Constitution, which William Gladstone, a great British prime minister, called ‘the most wonderful work ever struck off at a given time by the brain and purpose of man.’” https://www.thenextmove.org/p/gerald-r-ford-and-americas-bicentennial 

• “I am a Ford, not a Lincoln.” —Gerald R. Ford remarks after being sworn in as Vice President of the United States https://www.fordlibrarymuseum.gov/the-fords/gerald-r-ford/quotes 

• “Fourth of July Cookout Costs Reflect Inflation” https://www.fb.org/market-intel/fourth-of-july-cookout-costs-reflect-inflation 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #593 - Pricing AI Credit: Activity-based costing in a hoodie

Artificial intelligence vendors love to talk about tokens and credits, but are these pricing models really helping customers—or simply obscuring the true cost of AI? In this episode, Ron and Ed take aim at the growing trend of token-based pricing, arguing that it shifts uncertainty and risk from providers to customers while creating unnecessary complexity. Drawing on insights from pricing experts, recent industry commentary, and their own experiences, they examine why cost-based pricing has long been discredited and why customer value—not vendor costs—should determine price.

The conversation explores alternative approaches to AI pricing, including tiered models based on speed, complexity, and service levels. Along the way, Ron, Ed, and Greg discuss the rapid decline in AI infrastructure costs, the emergence of lower-cost large language models, and why today’s premium-priced AI services may face the same economic pressures that have driven technology costs downward for decades. If you’ve ever wondered whether AI credits are the modern equivalent of arcade tokens, this episode offers a provocative look at where AI pricing is headed—and why customer experience should be at the center of it.

SHOW NOTES

Segment one

• Uber burned through their entire AI budget for the year in April https://finance.yahoo.com/sectors/technology/articles/uber-burned-entire-2026-ai-180347400.html

• What is token maxxing with respect to AI? https://en.wikipedia.org/wiki/Token_maxxing 

• On the emerging pricing for AI models: “If there’s anything you and I have railed against for 30 years, it’s cost plus pricing.” —Ed Kless

• On AI pricing workarounds: “When your pricing model gets so friggin’ complicated that there is a shadow market, you’re out of control!” —Ron Baker

Segment two

• AI Credit Monetization: From Hype to Concrete Blueprint by Michael Mansard of Zuora https://www.zuora.com/resource/ai-credit-monetization-from-hype-to-concrete-blueprint/

• One of the big takeaways from the Zuora white paper: Many companies are adopting AI credits because competitors are doing it, not because their business actually needs them.

• “Activity based accounting is just cost accounting with its own wacky assumptions. It’s all bad math.” —Ron Baker 

• “I’ve spent decades arguing against cost-plus pricing, and token-based pricing is simply cost-plus. So when I say token-based pricing makes sense right now, I want you to understand how much it pains me to type that.” The Case for Token-Based Pricing by Mark Stiving, Ph.D. (friend of the show) https://impactpricing.substack.com/p/the-case-for-token-based-pricing 

Segment three

• The Strategy and Tactics of Pricing: A Guide to Growing More Profitably by Thomas T. Nagle, John Hogan, and Joseph Zale https://www.amazon.com/Strategy-Tactics-Pricing-Growing-Profitably/dp/0136106811 

• From The Strategy and Tactics of Pricing: “The job of financial management is not to insist that prices recover costs. It is to insist that costs are incurred only to make offerings that can be priced profitably given their value to customers.” https://www.amazon.com/Strategy-Tactics-Pricing-Growing-Profitably/dp/0136106811

• Hard to capture in notes as a tweet but Ron had a fascinating conversation with ChatGPT about why it can’t price based on value instead of AI credits. Check out segment three for his back and forth.

Segment four

• Camtasia (video editing software) sent Ed an email this week letting him know that AI features are unlimited on his pricing plan. So….someone figured it out :) 

• “The AI Race Isn’t About Electricity” by Michael Hochberg https://thedispatch.com/article/artificial-intelligence-silicon-chips-asic/ 

• Nvidia’s official corporate timeline (since 1993) https://www.nvidia.com/en-us/about-nvidia/corporate-timeline/ 

• “I think these AI companies should create a better customer experience and capture customers first. Then optimize the economics later. It’s not like they’re not sitting on a ton of money.” —Ron Baker

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #592 - Smart People, Silly Systems: With Debra Kilsheimer

Debra Kilsheimer joins Ron and Ed for a lively discussion about leadership, culture, AI, persuasion, human nature, and the curious ability of professionals to simultaneously complain about a problem and defend the system causing it.

We'll also explore what wisdom comes with experience, why logic is a surprisingly ineffective tool for changing minds, and whether the accounting profession is finally approaching an inflection point—or just finding new ways to avoid one.

And yes, at some point we'll probably talk about the Pink Cadillac.

Debra's Bio
Debra Kilsheimer is what happens when you combine a CPA, a stand-up comic, a leadership coach, a technology enthusiast, and enough energy to power a small city. A longtime champion of helping accountants become better leaders, communicators, and human beings, Debra has spent years challenging firms to stop doing things simply because "that's the way we've always done it." 

She's a speaker, consultant, podcaster, AI enthusiast, former Mary Kay superstar, and one of the few people who can simultaneously make you laugh, think, and question your entire business model. She's a friend of the show, and recently returned from Scaling New Heights, where she was recognized for her work in AI innovation.

SHOW NOTES

Segment one

• Debra just returned from Scaling New Heights where she was a main stage speaker https://www.woodard.com/speaker-listing-scaling-new-heights-2026 

• On resistance to change in the accounting industry: “What’s the WORST thing that can happen if you make a mistake as an accountant? You pay a fine.” —Debra Kilsheimer

• As a CPA, Debra did the tax returns for a Mary Kay salesperson. Thinking about leaving the accounting industry, Debra made the transition to Mary Kay early in her career. And yes, a pink Cadillac was involved.

• Today I learned, on the basis of sales commissions, Mary Kay claims to have created more female millionaires than any other organization in the United States

Segment two

• Why did Mary Kay choose pink? In the 1960s, most American bathrooms were white. So pink was chosen for the Company's packaging to give women beauty products they could keep conveniently on their bathroom counters.

• Interesting conversational theme from Scaling New Heights this year: It mostly focused on AI and the reticence or fear around adoption. In other words, many accounting professionals are excited but do not know where to begin.

• On magic vs logic work (with a hat tip to Tim Williams): “How are we creating additional value for those that we serve, and how can we use AI to do that?” —Ed Kless

Segment three

• Ron: “We spend hardly any time discontinuing obsolete practices. Why do you think that is?”
  Debra: “Well, they’re easy. I’m used to doing it like that. Making a change is hard.”

• Did you see new tech at Scaling New Heights that excited you? “People are getting really excited about the AI GLs that are coming out.” —Debra Kilsheimer

• Rise2040: Co-creating our profession’s future https://www.aicpa-cima.com/advocacy/landing/rise2040 

• How do we recruit new accountants with a message on a wrapped car? “If you want to make someone’s dreams come true, follow me!” —Debra Kilsheimer

Segment four

• GetBlazr is a new venture from Debra Kilsheimer. Check it out here: https://getblazr.ai/ 

• “I love being an accountant. I love it. I do think we change lives. So, I just want to make it more fun for the people on the side, the customers.” —Debra Kilsheimer 

• A big THANK YOU to Debra Kilsheimer for joining us today. You can find her on LinkedIn at this link https://www.linkedin.com/in/debliberate 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #591 - Revolutionary Roundup: John Adams, the Semiquincentennial, and a Few Asides

Ron and Ed turn their attention to the upcoming Semiquintcentennial, with a little theatrical flair thrown in from Ed and his turn as John Adams in 1776. Along the way, they reflect on the ideas, personalities, and historical drama surrounding America’s 250th anniversary—and what those themes might still teach us about leadership, liberty, and public life today. If time permits, they’ll also weigh in on a few timely developments in the accounting profession and the ever-fascinating world of pricing.

SHOW NOTES

Segment one

• The Semiquincentennial is the official 250th anniversary of the United States, marking the Declaration of Independence on July 4, 2026. Also known as the Quarter Millennium.

• 1776 (musical) https://en.wikipedia.org/wiki/1776_(musical) 

• Yes, Thomas Jefferson did include a fiery, 168-word anti-slavery passage in his initial draft of the Declaration of Independence, but it was removed by the Continental Congress before the document was finalized. https://www.history.com/articles/declaration-of-independence-deleted-anti-slavery-clause-jefferson 

• “Why anyone would want to leave Britain is beyond us.” America at 250 from The Economist https://x.com/TheEconomist/status/2016300249208242628 

• Is it unalienable or inalienable? https://www.ushistory.org/declaration/document/unalienable.html 

Segment two

• The actor who played John Adams in the original Broadway production of 1776, William Daniels (later famous as Mr. Feeny on Boy Meets World), was nominated for a Tony Award—but he actually declined the nomination because he felt the entire cast deserved recognition rather than just him. It's one of the rare instances of a performer turning down a Tony nomination.

• The Americans Who Risked Everything https://www.101bananas.com/library2/limbaugh.html 

• 18 were under 40 years old, 3 were under 20. What are we talking about? The signers of the Declaration of Independence 

• Evidence heavily points to Francis Hopkinson, a signer of the Declaration of Independence and a delegate from New Jersey, as the designer of the American flag. https://www.nationalgeographic.com/history/article/betsy-ross-likely-didnt-sew-the-first-us-flag 

Segment three

• “A land, perhaps, the only one in the universe, in which political or civil liberty is the very end and scope of the constitution.” —Sir William Blackstone

• “The American, is the Englishman left to himself.” —Alexis de Tocqueville

• Liberty “can be lost, and it will be, if the time ever comes when these documents are regarded not as the supreme expression of our profound belief, but merely as curiosities in glass cases.” —Harry Truman

• “The President himself is no more than a representative of public opinion at the time of his election; and as public opinion is subject to great and frequent fluctuations, he must accommodate his policy to them; or the people will speedily give him a successor; or either House of Congress will effectually control his power.” —John Quincy Adams https://lonang.com/library/reference/jqadams-jubilee-constitution-1839/ 

• The "original" First Amendment passed by Congress in 1789 was an unratified proposal detailing a formula to continuously increase the size of the House of Representatives as the population grew. Because it failed to secure enough state ratifications, the "third" proposed amendment regarding religious, speech, and press freedoms became today's First Amendment to the United States Constitution. https://archivesfoundation.org/newsletter/10-bor-facts/ 

• “What the Founders’ Drinking Habits Have to Do with Gun Rights” by Charles C. W. Cooke https://www.nationalreview.com/2026/03/what-the-founders-drinking-habits-have-to-do-with-gun-rights/ 

Segment four

• Timeline of the American Revolution https://en.wikipedia.org/wiki/Timeline_of_the_American_Revolution 

• Lifelong frenemies Thomas Jefferson and John Adams died on the same day—July 4, 1826, exactly 50 years after the Declaration of Independence

• “It had about it nothing of the lawless and disordered nature of a riotous insurrection. It was maintained on a plane which rises above the ordinary conception of rebellion. It was in no sense a radical movement but took on the dignity of a resistance to illegal usurpations.” —President Calvin Coolidge's 1926 speech on the 150th Anniversary

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #590 - Security, Scale, and Trust: A Conversation with Summit’s Shannon Kaiser

As part of our new partnership with Summit, Ron and Ed welcome Shannon Kaiser, a technology leader whose career spans cloud infrastructure, cybersecurity, application hosting, and managed services. Shannon shares how Summit helps organizations navigate the increasingly complex world of IT while maintaining the security, reliability, and performance businesses depend on every day.

About Shannon Kaiser
Shannon Kaiser is General Manager of Application Hosting at Summit and a veteran technology executive with extensive experience in cloud infrastructure, cybersecurity, application delivery, and managed services. Having led engineering, operations, and technology teams throughout his career, Shannon focuses on helping organizations build secure, scalable environments that support business growth while reducing operational risk.

SHOW NOTES

Segment one

• Welcome to The Soul of Enterprise, Shannon Kaiser! Shannon is General Manager of Application Hosting at Summit. https://summithq.com/ 

• What belief about business did Shannon hold in his 20s and has now completely abandoned? “That business was only about the dollars and cents.”

• What do most accounting firm leaders consistently get wrong about technology? “That they think they can consume it as individual tools.”

• What business or technology cliche would you like to see retired immediately? “That technology makes us more efficient”

• What’s your approach to AI? Do you see this as utopia, or dystopia? “I think that the amount of productivity we will get from these tools will be amazing. […] We are not prepared for what is actually happening in real time today.”

Segment two

• “Technology is a way to build trust, continuity, operationally, and the ability to continue to service.” —Shannon Kaiser, Summit

• “The biggest misconception is that risk is a technology problem. Hollywood has taught us that there are hackers behind keyboards in dark rooms typing furiously at their keyboard.” —Shannon Kaiser, Summit

• On why ransomware attacks are prevalent: “It isn’t the people per se. It’s the status quo and policy that the people are following and the lack of rigor in reviewing it.” —Shannon Kaiser, Summit

Segment three

• Life After Google by George Gilder https://www.amazon.com/Life-After-Google-Blockchain-Economy/dp/1621575764 

• The three pieces to good system access and passwords: something you know, something you have, and something you are

• Co-Intelligence: Living and Working with AI by Ethan Mollick https://www.amazon.com/Co-Intelligence-Living-Working-Ethan-Mollick/dp/059371671X 

• “Over the next five years this isn’t going to be just about adopting AI. It’s going to be about how we govern it.” —Shannon Kaiser, Summit

• From Shannon Kaiser as the AI tip of the day: Before you accept any answer, always ask your AI, “What else do you need to be good?”

Segment four

• From Ed Kless on project management: “The number one reason for project failure is that very rarely is a project actually properly initiated.” 

• From Ed again on project management: “Most people want to compress the planning process into a shorter time period because they want to get to execution. Then they execute. Then after that, there’s this really long phase called fix-it.”

• A big THANK YOU to Shannon Kaiser for joining us today! Shannon is the General Manager, Application Hosting at Summit. Learn more at this link https://summithq.com/ 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #589 - Last Branch Standing: a conversation with Sarah Isgur

Ron and Ed welcom Sarah Isgur to discuss her book "Last Branch Standing," which explores the Supreme Court's role in American government, its counter-majoritarian function and its independence from partisan politics. Contray to popular belief, very few cases are decided along ideological lines and Sarah will emphasize the need to protect the court's independence and criticized Congress for failing to act on key issues. We will ask her about billing by the hour and red her thoughts on political strategy and the importance of aspirational goals in politics.

Sarah Isgur is lawyer, political analyst, and professional constitutional sparring partner, who has the ability to make Supreme Court procedure sound like a cross between stand-up comedy and a bar fight involving the Federalist Society. She’s a senior editor at The Dispatch and SCOTUSblog, co-host of one of Ed's favorite podcasts, Advisory Opinions with David French, and a survivor of many polical campaigns and the Department of Justice.

Her new and first book, Last Branch Standing: A potentially surprising, occasionally witty journey inside today’s Supreme Court is New York Times bestseller and currently #1 on Amazon in the Courts & Law category.

SHOW NOTES

Segment one

• Today’s guest is Sarah Isgur! She is a senior editor at The Dispatch and has a great new book out https://thedispatch.com/author/sarah-isgur/ 

• “Last Branch Standing” by Sarah Isgur is a book that demystifies the Supreme Court https://www.amazon.com/Last-Branch-Standing-Potentially-Occasionally/dp/0593800923 

• The "snails of justice" is a famous legal anecdote used by retired Supreme Court Justice Stephen Breyer to explain the interpretative work appellate judges do https://www.brown.edu/news/2025-04-15/breyer 

• The Stat Pack from SCOTUSblog https://www.scotusblog.com/stat-pack/ 

• The "3 3 3 Supreme Court" refers to the core thesis of Sarah’s, Last Branch Standing. She argues that the Supreme Court operates as three distinct factions of three justices rather than the traditional 6-3 conservative vs. liberal split. https://www.amazon.com/Last-Branch-Standing-Potentially-Occasionally/dp/0593800923 

Segment two

• "I have come to the conclusion that one useless man is called a disgrace; that two are called a law firm, and that three or more become a Congress!" from the 1969 Broadway musical 1776 (not actually said by John Adams)

• “Almost all of the cases that we fight about, that we’re mad at the Supreme Court about, we should be mad at Congress.” —Sarah Isgur on Supreme Court rulings and the abdication of responsibility by Congress

• “Wickard v. Filburn: The Supreme Court Case That Gave the Federal Government Nearly Unlimited Power” via FEE https://fee.org/articles/wickard-v-filburn-the-supreme-court-case-that-gave-the-federal-government-nearly-unlimited-power/ 

• Immigration and Naturalization Service v. Chadha, 462 U.S. 919, was a United States Supreme Court case holding that the one-house legislative veto violated the constitutional separation of powers. https://en.wikipedia.org/wiki/Immigration_and_Naturalization_Service_v._Chadha 

Segment three

• Fun bingo fact about The Soul of Enterprise: “I ran against Ken Paxton for Texas State Senate in 2012 as a Libertarian, and Angela Paxton in 2022.” —Ed Kless

• The Professional’s Guide to Value Pricing by Ron Baker https://www.amazon.com/Professionals-Guide-Value-Pricing-Ronald/dp/0156072246

• On the billable hour: “It’s why I decided I couldn’t work at a law firm.” —Sarah Isgur

• “If you really think about it, the billable hour is based on the labor theory of value….which is actually Marxism.” —Ed Kless

Segment four

• Number one on Amazon in the courts and law category! Last Branch Standing by Sarah Isgur https://www.amazon.com/Last-Branch-Standing-Potentially-Occasionally/dp/0593800923 

• Old Glory Insurance….for when the robots come for you (and they will) https://www.youtube.com/watch?v=g4Gh_IcK8UM 

• A big THANK YOU to Sarah Isgur for joining us on the show this week. Her book, Last Branch Standing, is available everywhere. Check it out: https://www.amazon.com/Last-Branch-Standing-Potentially-Occasionally/dp/0593800923 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #588 - Pricing Update: AI, Discounting, and the Future of Value

This week, Ron and Ed deliver a wide-ranging pricing update, exploring the latest thinking shaping both accounting firms and the broader business world. Drawing from recent articles, posts, and commentary, they examine how AI companies like GPT, Claude, and Perplexity are positioning and pricing their offerings, including the growing role of token-based pricing models and what they signal about the future of value measurement.

The conversation also dives into the dangers and unintended consequences of discounting, inspired by recent insights from pricing experts in the PPS community. Along the way, Ron and Ed connect these ideas back to accounting firms, professional services, and the practical challenges businesses face when trying to price for value in rapidly changing markets.

SHOW NOTES

Segment one

• News from the Accounting Today Firm Growth Forum that Ed recently attended https://www.accountingtoday.com/firm-growth-forum-2025 

• AI driving firms, clients to revisit pricing models https://www.accountingtoday.com/news/ai-driving-firms-clients-to-revisit-pricing-models 

• Time’s Up, Babycakes by Blair Enns (guest and friend of the show) https://www.winwithoutpitching.com/insights/times-up-babycakes 

• Shawn Yeager: “Clients expect AI to cut your costs. But 100% would pay more for advisory that generates more value. The question is which side of that equation you’re on.” https://upshiftco.com/blog/outcome-pricing-captures-the-upside 

• Regarding McKinsey: “Projects are now far more focused on outcomes and the performance of deliverables.” https://medium.com/predict/industry-shakeup-why-mckinsey-is-moving-to-performance-based-fees-ee24abcc6ff8 

• “The Billable Hour Is Dead. AI Just Signed the Death Certificate” by Armando Hernandez https://www.linkedin.com/pulse/billable-hour-dead-ai-just-signed-death-certificate-armando-hernandez-gzozf/ 

Segment two

• Value Protection is Not Optional by Jon Hubbard https://www.boomer.com/post/value-protection-is-not-optional 

• “Time is not a resource because you can replenish a resource.” —Ron Baker

• On the billable hour: “Ron, have you ever sat at your desk and was just thinking about something? And didn’t have your hands on the keyboard actually doing something? Don’t we want our professionals to think?!!?!?” —Ed Kless

Segment three

• Byron Johnson, a CPA in Canada, sent in a great note to the show about three-tier pricing. Ron and Ed talked about this during the start of the third segment.

• Let's Get Real or Let's Not Play by Mahan Khalsa https://www.amazon.com/Lets-Get-Real-Not-Play/dp/1591842263 

• Quote from the show today: “How you sell is indicative of how you solve” (attributed to Mahan Khalso)

• On offering three tier pricing to customers: “When you’ve got to sit down and come up with your three choices, you are effectively thinking through competing with yourself. And that’s important.” —Ed Kless

Segment four

• If this intrigues you, LISTEN to segment four of the show today: “How do you change a service into an experience? You customize a service, and then that turns it into an experience. And we think the best way to do that is with subscriptions.” —Ron Baker 

• Shameless plug: Threshold has a transformation class for those wondering about turning a service into an experience. https://thresholdnow.com/ 

• On confident pricing: “You are 2-3 times any of your competitors” “Huh, that’s odd, because usually it’s like 5-6 times.”

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #587 - Ron's Rummage: Clearing Ron's Stack of Stuff

In another installment of our fan-favorite miscellany series, Ron digs into the ever-growing stack of articles, ideas, trends, and observations he’s been collecting—and finally clears the deck. From developments in technology and AI to economics, business strategy, professional skepticism, and the occasional offbeat tangent, this episode is a rapid-fire tour through the topics that caught Ron’s attention but didn’t yet have a home of their own.

Along the way, Ron and Ed connect seemingly unrelated dots, challenge conventional wisdom, and share practical insights for entrepreneurs, accountants, and knowledge workers navigating a world changing faster than ever. Expect sharp commentary, unexpected connections, and plenty of classic TSOE banter in this wide-ranging conversation.

SHOW NOTES

Segment one

• The shocking case of LA’s ‘zombie’ fire – and the young man at the center of it https://www.theguardian.com/us-news/2026/jan/10/la-zombie-fire-jonathan-rinderknecht 

• One neat trick to end extreme poverty https://www.economist.com/finance-and-economics/2026/04/09/one-neat-trick-to-end-extreme-poverty 

• Free Exchange from The Economist https://www.economist.com/topics/free-exchange 

• Hatred of Data Centers Is Irrational and Self-Defeating https://www.nationalreview.com/2026/04/hatred-of-data-centers-is-irrational-and-self-defeating/ 

Segment two

• A big WELCOME to Summit for joining us as a sponsor. If you are in the Quickbooks or Sage ecosystem, you probably know them. https://summithq.com/ 

• Elite Activists Are Waging a Reckless War on Rat Poison https://www.nationalreview.com/2026/05/elite-activists-are-waging-a-reckless-war-on-rat-poison/ 

• US Congress has paid $17 million in sexual misconduct and discrimination settlements https://www.axios.com/2017/12/15/congress-has-paid-17-million-in-sexual-misconduct-and-discrimination-settlements-1513307017 

• San Francisco, AI capital of the world, is an economic laggard https://www.economist.com/finance-and-economics/2026/04/26/san-francisco-ai-capital-of-the-world-is-an-economic-laggard 

Segment three

• Sir Demis Hassabis, co-founder and current CEO of Google DeepMind https://en.wikipedia.org/wiki/Demis_Hassabis 

• Don’t Block Progress on Pancreatic Cancer https://www.nationalreview.com/2026/04/dont-block-progress-on-pancreatic-cancer/ 

• The ABA Is a Joke. So Why Is It Still Accrediting Law Schools? https://www.nationalreview.com/2026/04/the-aba-is-a-joke-so-why-is-it-still-accrediting-law-schools/ 

• Lessons from the happiest countries in the world https://www.economist.com/graphic-detail/2025/03/20/lessons-from-the-happiest-countries-in-the-world 

• The Anglosphere is increasingly miserable https://www.economist.com/graphic-detail/2026/03/19/the-anglosphere-is-increasingly-miserable 

Segment four

• Apple’s new boss needs to restore its magic for the AI era https://www.economist.com/business/2026/04/23/apples-new-boss-needs-to-restore-its-magic-for-the-ai-era 

• Boom XB-1 Goes Mach 1! https://boomsupersonic.com/xb-1 

• US House passes bill to clear way for overland supersonic flights https://www.aerotime.aero/articles/house-passes-bill-overland-supersonic-flights 

• Delta Paid Passengers $10,000 to Give Up Their Flight Seats. How One Economist Made It Possible https://fee.org/articles/delta-paid-passengers-10-000-to-give-up-their-flight-seats-how-one-economist-made-it-possible/ 

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #586 - Convergence Is Here: What AI Means for Your Future with Greg Tirico

In this episode of The Soul of Enterprise, Ron and Ed welcome back Greg Tirico to explore the accelerating convergence of technology, especially AI, and its profound implications for professionals. Drawing on insights from the “Convergence 2026” report, Greg unpacks how traditional firm boundaries are dissolving as tech, talent, and capital increasingly intersect.

The conversation dives into what this shift means for knowledge workers, from evolving skill expectations to the redefinition of value in professional services. As AI reshapes workflows and client expectations, firms must rethink not only how they operate, but what they offer.

If you’re trying to understand where the profession is headed and how to stay relevant in an AI-driven world—this episode provides a clear, informed perspective on the forces shaping the future.

SHOW NOTES

There are 10 total convergences identified by the FTSG methodology. We don’t have time for all of them :) 

ONE: Human augmentation

In the past this was eyeglasses and vaccines

Today:

• Mo/Go powered pants like an e-bike for hiking 

• Hypershell exoskeleton. It’s a leisure exoskeleton, not a war device

• Project Amplify shoe (Nike)

• 8 sleep AI powered bed

• Meta glasses: real time translation; a version of the world with a layer of intelligence on top

These devices are not for the mobility challenged. They are meant for the able bodied.

What if your company requires augmentation for extremely physical roles?

TWO: Unlimited Labor

In the past:

• Gutenberg printing press

• Ford assembly line

• VisiCalc 

Today:

• AlphaEvolve from DeepMind: Algorithms automatically derived from basic inputs

• Quite obviously, AI Agents

“The next internet isn’t being made for you. It’s being made for Agents. Pretty soon we won’t be the interface between decisions and execution anymore.”

So what happens when agents collide with robotics?

• Robot assisted cars

• Chinese, humanoid robo-traffic cop

• Autonomous robot in a box from Percepto

• Used outside of oil, gas, and power sites, they launch, inspect equipment, detect methane leaks, and return to recharge

• Humanoid robots in use by BMW and DHL (unloading trucks at 700 boxes per hour)

• Robo-bees from MIT to help with pollination

THREE: Automated factories or “lights-out industrialism”

This isn’t retrofitting factories with robots. These are first principle designs. Think, Adam Smith’s pin factory. 

Unlimited labor inverts the idea that labor is the engine for growth

• Scale without population

• Output without wages

• Production without people

Most datacenters employ fewer than 35 people. 

Will we see an economy with an increasing GDP AND a high level of unemployment? In other words, what do we call an economy that is thriving and has no use for you?

FOUR: Emotional outsourcing

In the past:

• Therapists

• Meditation

• Family and friends

Today:

What about the shift of comfort and companionship from people to machines?

• In 2014, Microsoft launched a chatbot called Xiaoice (wikipedia link)

• Character.ai

• In the Convergent Report presentation, Amy Webb used an AI generated video to manipulate feelings and didn’t tell the audience until the end.

FIVE: The Corporate Panopticon

In the past:

• showing a passport at a border

• swiping a credit card at a checkout

• entering a password at login

Today:

• Wi-Fi Sensing: Commodity Wi-Fi hardware can now be used as a room-scale physiological sensor. Systems like Pulse-Fi can estimate heart rates, respiration, and gait by analyzing how signals reflect off a body

• Ambient Audio Context: Microphones in smart devices do more than listen for voice commands; they analyze background "acoustic signatures" like HVAC rhythms, traffic patterns, and room echoes to infer your exact location

• Payment Metadata Analysis: Even without seeing itemized receipts, payment networks analyze transaction timing and vendor codes to infer highly personal details, such as pregnancies, chronic illnesses, or addictions

• Biometric Signatures: Identity is verified through markers you cannot "leave at home," such as the way you hold your phone, your gait, or your thermal signature

• You can reset your password. You cannot reset your biometric signature

“We traded China’s iron fist for Silicon Valley’s velvet glove—same surveillance, better branding.”

SIX: Living Intelligence

In the past:

• Most systems have operated in three distinct phases: collect data, analyze what they’ve gathered, wait for humans

Today:

• Sensors track biological signals, environmental conditions, and behavioral patterns in real time. 

• Adaptive AI models interpret what’s happening. 

• Then the system acts, adjusting insulin doses, rerouting shipments, tweaking production lines, without pausing for human approval.

MIT engineers have designed capsules containing biodegradable radio frequency antennas that can confirm when a pill has been swallowed. These biosensors address a

major health care challenge: patients failing to take medication as prescribed.

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

Click the “FANATIC” image to learn more about pricing and member benefits. 

Episode #585 - Conversations from the Chaminade Leadership Summit

In this special episode of The Soul of Enterprise, Ron and Ed welcome a panel of speakers from the Chaminade Leadership Summit (CLS), an event focused on developing principled leadership and purposeful organizations.

Joined by Bro. Thomas J. Cleary and fellow summit speakers, the conversation explores the intersection of leadership, values, and organizational culture. Drawing from their diverse experiences, the panel discusses how leaders can foster trust, inspire accountability, and navigate complexity in today’s rapidly changing environment.

From practical leadership frameworks to personal reflections on mission-driven work, this episode offers insights for anyone looking to lead with clarity and purpose—whether inside a firm, a team, or a broader community.

SHOW NOTES

Segment one

• One of the best-known Marianist schools in the United States is Chaminade High School on Long Island. The school was founded in 1930 in Mineola, New York, at a time when the surrounding area was still largely farmland and undeveloped suburban land. The Marianist brothers opened it as an all-boys Catholic college preparatory school focused on academics, faith formation, discipline, and community.

• The original Chaminade High School class was 130 students. Today, there are 62 classrooms and 1,700 students. 

• Louis V. Gerstner Jr. is one of Chaminade High School’s most notable alumni, graduating with the Class of 1959. Gerstner is best known for becoming the CEO of IBM in 1993 during one of the company’s most difficult periods. At the time, many analysts believed IBM would need to be broken apart, but Gerstner led a major turnaround that is often considered one of the most successful corporate recoveries in business history. He shifted IBM toward integrated services and enterprise computing rather than just hardware manufacturing.

• “What drives any institution is the culture within that institution.” —Brother Thomas Cleary, S.M. ’81

Segment two

• The Chaminade Leadership Summit (CLS) is a relatively new leadership and professional development conference created by Chaminade High School on Long Island. The inaugural summit launched in 2025 as part of the school’s broader vision leading up to its 100th anniversary. https://cls.chaminade-hs.org/ 

• The 2026 Chaminade Leadership Summit (CLS) theme is “Connected Leadership,” emphasizing authentic relationships, collaboration, and values-driven leadership in an increasingly interconnected world.

• It’s hard to overstate the impact of the Chaminade Leadership Summit. CLS in the future MIGHT include small regional events and virtual options. You heard it here first :) 

Segment three

• We are joined by the Chief Academic Officer of Chaminade High School. A Chief Academic Officer (CAO) is the senior leader responsible for the overall academic vision, quality, and performance of a school, college, university, or education organization.

• If you have a kid or know anything about high school AP classes, this stat is amazing. At Chaminade High School last year 27 kids took AP Advanced Calculus. 26 out of 27 received a 5 on their AP test!

• School AI is an example of an AI tool in use at Chaminade High School. And it really gets to how they are integrating AI where appropriate and using it to help guide the overall education of students. https://schoolai.com/ 

Segment four

• Mr. Robert Paul '92 is the current principal of Chaminade High School in Mineola, New York, named as the 12th principal in the school's history. He took over the role after Bro. Joseph Bellizzi, S.M. stepped down in June 2024 following 25 years of service.

• HSD = High Satisfaction Day. Ron and Ed touched on this during episode 173 https://www.thesoulofenterprise.com/173 

• The motto at Chaminade High School is “Fortes in Unitate” (Strength in Unity) https://en.wikipedia.org/wiki/Chaminade_High_School 

• A big THANK YOU to Chaminade High School and the Chaminade Leadership Summit for hosting Ed Kless and Ron Baker today. The podcast will be available in just a few hours, the show notes will be at TheSoulOfEnterprise.com on Monday, and a series of short videos will go out on YouTube next week.

Bonus Content is Available As Well

Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.

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