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Reed Stevenson Profile
Reed Stevenson

@algebrista

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Editor, writer of @business news and other stories from Japan. Senior editor at Bloomberg News, ex-Reuters. Retweets ≠ endorsements; all opinions mine.

Tokyo
Joined May 2009
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Reed Stevenson
a month ago
1/ Every so often, I’m asked: "What is Japan's most interesting company?" While there certainly are many intriguing enterprises, I often point to Recruit. @Recruit_PR Once you get past the name, there's a lot under the hood.
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Reed Stevenson
17 days ago
Must. Get. To. 3/6 Wordle 205 4/6 ⬜⬜🟨🟨⬜ ⬜🟨🟩⬜⬜ ⬜⬜🟩🟩🟩 🟩🟩🟩🟩🟩
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Reed Stevenson
18 days ago
How did I do? Wordle 204 4/6 🟩🟨⬜⬜⬜ 🟩⬜⬜🟨🟨 🟩🟩🟩🟨⬜ 🟩🟩🟩🟩🟩
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Reed Stevenson
a month ago
12/ Fun fact: Recruit and Mori Building, another interesting Japanese company , share roots. Their founders were college buddies. Recruit started in a small building near Shimbashi, the Mori real-estate empire's first. Both companies still use it today.
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Reed Stevenson
a month ago
11/ In April of this year, Hisayuki “Deko” Idekoba look over as Recruit’s CEO. An entrepreneur before joining the company, he’s the youngest CEO in the Nikkei 225 and “wants to get rid of resumes”
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Reed Stevenson
a month ago
10/ Unlike most other Japanese firms, employees who have been at Recruit for a while are actively encouraged to leave with generous exit packages. The average age is 35. An army of ex-employees have gone on to start their own businesses, led other companies and into politics.
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Reed Stevenson
a month ago
9/ The scandal also shaped the Recruit’s culture. While other companies might demand obedience among the rank-and-file, Recruit expects employees to think for themselves. When someone asks for a solution or decision, they are usually met with: “What do you think?”
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Reed Stevenson
a month ago
8/ Masumi Minegishi, Recruit’s chairman and prior CEO, told me about joining the company just a week before the scandal broke. A clean break with a charismatic founder forced employees who remained to step up. “We had to take ownership to bring the business back,” he said.
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Reed Stevenson
a month ago
7/ HBS's @sandrasucher says the roots of Recruit’s success were planted in the scandal. Redefining its mission around trust led to services people could rely on. Read more about this in Sucher and @ShaleneGupta 's book, “The Power of Trust"
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Reed Stevenson
a month ago
6/ While Recruit may be relatively unknown outside Japan, most people in the country still associate it with a shares-for-favors scandal in the 80s involving founder Hiromasa Ezoe. It even led to the downfall of the country’s prime minister.
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Reed Stevenson
a month ago
5/ For a closer look into why Recruit is one of the biggest Japanese companies that many still haven’t heard of, see my 2019 article.  They own @indeed , @Glassdoor and a myriad of other businesses.
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Reed Stevenson
a month ago
4/ Recruit builds its platforms by spotting unmet needs and removing friction from the matching process. It sounds old-fashioned, but it works. That’s made it Japan’s fourth-largest company with a market value of $100+ billion.
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Reed Stevenson
a month ago
3/ It’s hard matching the right people to the right jobs, and the right consumers to the right products and services. Really hard.  One way to do this is at scale. Google and Facebook have figured it out - with what Harvard’s Shoshana Zuboff calls surveillance capitalism.
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Reed Stevenson
a month ago
2/ What does Recruit do? Mainly, two things: 1) Matching job applicants to jobs 2) Matching consumers with businesses Now, you might think, “Isn’t that just job ads, or advertising?” but that doesn’t really capture it.
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