62. Diverse Leadership and AI Ethics: Jocelyn Moore on Transforming Governance

Jocelyn Moore, a seasoned board member and former NFL executive, shares her diverse career experiences from Capitol Hill to the boardrooms of major technology companies like DraftKings and OppFi. Jocelyn discusses the intricate journey that led her to influential roles in corporate governance, emphasizing the importance of diversity in leadership and the ethical implications of AI in decision-making. This episode not only explores Jocelyn's remarkable career trajectory, but also delves into the broader implications of board composition and technology in modern corporate environments.

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Big Ideas/Thoughts/Quotes:

What was your NFL experience like?

It was like nothing else that I've ever done.  Such a tremendous lesson in the art of diplomacy with varying stakeholders, which has prepared me for a lot of the board service that I do now.

Is bipartisanship in Congress possible?

“I'll tell you that I think is really emblematic of how I grew up on Capitol Hill. In [Senator] Zell Miller's office, we had Democrats and Republicans both working in that office - - our political leanings didn't matter, we were all working for the people of Georgia, and that's something that really stuck with me during the 15 years that I worked in the Senate.”

Power of the network leading to DraftKings board

“Roberta Sidney, who you will know, and many in the audience will know - she is amazing. I've never met Roberta, she and I get on a call. We talked about the board opportunity and this particular board was not a good fit. But you know what Roberta did, because she is such a champion of people, a champion of women, she said, "Look, this may not be a good fit, but I'm going to introduce you to my friend Ilana Wolfe.” Ilana is at Goldman and is the driving force behind board diversification at Goldman's portfolio companies. 

 

I talked to Ilana and, little did I know at the time, she was this giant in the space. We talked. I told her about my background, and we left it at that.  After about a month went by, she called me back and said, "Hey, Jocelyn, I have this interesting board opportunity that I wanted to run by you -have you heard of the company DraftKings?"”

 

DraftKings Board Composition as it went Public

Like most public companies before they are public, the board was largely comprised of investors, and I joined soon after it went public in April of 2022. The makeup of the board changed as DraftKings became a public company.

 

DraftKings' commitment to inclusion, equity and belonging is very strong. At the same time that I joined the board, Valerie Mosley, a giant in Boston, joined the board, so two black women joined the board of DraftKings at the same time, and Michael Jordan became an advisor.

Importance of a board with diverse perspectives

“Board diversity is not a nice to have. It is a must have.”

“When you think about your customer base, whether it's DraftKings, OppFi, whatever company we're talking about, when we look at the makeup of America, it is extraordinarily diverse. When we think about how we create and generate revenue, how we sustain revenue, how we create long-term value, all of those things are dependent upon our customer base. If we do not embrace diversity, we are not maximizing our revenue potential. It is as simple as that.”

 

Angel Investing

“Entrepreneurs power our economy.  They are the ones who are the job creators in our country, and so to understand business and industry, you really have to go where business and industries are. And so that's why it was important for me to get involved with venture investing and angel investing to get a front row seat to industry in ways that I could have never imagined.”

 

From the On Boards Summit 2023: The coming wave of Artificial Intelligence (AI): What questions should boards be asking?

·      How will your company or board be impacted by AI?

 

·      How can we use AI in the future not only internally to improve processes and the sharing of information and data, but also externally in the markets that we are in to improve the client experience, to extend whatever we are doing from a market standpoint?

 

·      We know that AI has shown biases. What are the questions that we, as good corporate citizens, need to ask about the ethics of AI?

 

How do we best provide guardrails around AI?