{"id":2289,"date":"2024-11-25T09:47:17","date_gmt":"2024-11-25T09:47:17","guid":{"rendered":"https:\/\/friscotimes.org\/?p=2289"},"modified":"2024-11-25T13:14:10","modified_gmt":"2024-11-25T13:14:10","slug":"hp-trying-to-take-pole-position-in-a-fast-changing-future-of-work","status":"publish","type":"post","link":"https:\/\/friscotimes.org\/?p=2289","title":{"rendered":"HP trying to take pole position in a fast-changing future of work"},"content":{"rendered":"\n

Good morning.<\/p>\n

\n

I experienced my first Formula 1 in Las Vegas this past weekend, thanks to an invitation from HP CEO Enrique Lores to moderate a series of conversations with him, CEO attendees and the drivers of the Scuderia Ferrari HP<\/a> Formula 1 team: Carlos Sainz Jr.<\/a> and Charles Leclerc<\/a>, who placed third and fourth respectively. (When I asked Sainz and Leclerc to describe each other\u2019s strengths, I got the sense that Sainz was a smoother driver while Leclerc took more risks, though it was hard to tell as they ribbed each other.)<\/p>\n

Lores says HP became the team\u2019s title sponsor<\/a> earlier this year because of the sport\u2019s 10-month season and reliance on technology: Ferrari\u2019s F1 team has 1,600 people who measure success a thousandth of a second at a time. Ferrari now deploys some HP technology and services as part of the partnership. As Lores put it: \u201cWe both have these brands with a long history of innovation.\u201d<\/p>\n

It helps, of course, that F1 has become more popular with U.S. audiences following a Netflix series<\/a>, new movies, an expanding F1 Arcade<\/a> franchise, celebrity<\/a> investors and crossover stars like Lewis Hamilton, who will join the Ferrari team next season, displacing Sainz.\u00a0 Along with the drivers and cars being literal billboards for a range of brands, F1 is often a loss leader for car manufacturers that want to wow elite customers.<\/p>\n

Few are more prestigious than Ferrari, which sells cars that can average $750,000<\/a> and have a two-year waiting list to receive. I recently spoke with Ferrari CEO Benedetto Vigna, who spoke about the company like one speaks about family. Vigna compares Ferrari to \u201ca compressed spring with a lot of energy,\u201d with \u201ca team that has this passion, sense of belonging, determination, and grit.\u201d While some customers are \u201cmore in love with motorsports\u2014in the U.S., Italy, Germany, UK, and Japan,\u201d Vigna adds, clients in South Korea or the Middle East are more drawn to luxury and lifestyle.<\/p>\n

The same might be said of HP, which is trying to take pole position in a fast-changing future of work where people print less but its AI computers could mean a lot more. How it\u2019s doing on that front will become clearer when HP reports its 4th<\/sup> quarter earnings tomorrow. And having a high-profile sponsorship of a fast-growing sport can\u2019t hurt. As Lores joked when handing Sainz and Leclerc two computers, he might not know their favorite track but \u201cI do know your new favorite computer.\u201d<\/p>\n

More news below.\u00a0<\/p>\n

Diane Brady
diane.brady@fortune.com
Follow on LinkedIn<\/a><\/p>\n

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This is the web version of CEO Daily, a newsletter of must-read global insights from CEOs and industry leaders. Sign up to get it delivered free to your inbox.<\/div>\n\n","protected":false},"excerpt":{"rendered":"

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