Global Conference 2016

The last century has seen advances in health that would have been unimaginable to prior generations. Longer lives have led to extraordinary economic growth and great opportunities for personal fulfillment. But the progress is just beginning. The benefits of prevention, wellness, nutrition and exercise are increasingly understood. New health tools are empowering individuals and enabling personalized solutions. An emerging and important body of research is demonstrating that positive attitude and purpose can combat disease and extend life. Each of us has the power to improve our own prospects for a long and healthy life and the chance to contribute to a healthier society. In this session, our experts explain how we can leave Global Conference with better health and more understanding than we had on arrival.

Millions of the good jobs now and in the future will require high-tech skills, but in the U.S. there is a shortage of young people prepared to step into those roles. Many high schools are struggling to graduate students proficient in STEM knowledge -- in science, technology, engineering and mathematics. Those disciplines are crucial to 21st century skills, including computer programming, robotics, medical technology and the operation of advanced machinery. Yet the U.S. Department of Education says only 16 percent of American high school seniors are proficient in math and interested in a STEM career. One obstacle is the lack of curricula, teachers and enrichment programs to challenge and inspire students in STEM concepts from an early age. In response, a growing number of for-profit and not-for-profit organizations are cropping up to fill the void. Learn more about some of the innovative initiatives and organizations that are working to expand access to STEM, and how these efforts can be scaled up to make a substantive difference.

Institute Chairman Mike Milken sits down with several of the world's most successful investors to discuss the key insights they've gained and lessons they've learned over the years. How do they adapt to different market cycles? Given that they are, after all, only human, how do they avoid the pitfalls of cognitive biases? Have their best ideas come from extensive analysis or from the gut? How do they think about and manage risk? What do they look for when hiring key members of their teams? And, of course, where are they focusing their attention -- and money -- in the near future?

Physicist/philosopher Thomas Kuhn famously observed that scientific progress is not always incremental --periodic revolutions lead to exponential progress. The term he coined, "paradigm shift," can be applied to what is occurring in medicine today. In brief multimedia talks, leading scientists will present the details of exciting technology revolutions that promise earlier diagnoses, better treatments, longer lives and new cures for age-old diseases. They will show that researchers have adopted entirely new ways of thinking as they move forward with innovative approaches to medicine. After the presentations, Institute Chairman Mike Milken will bring the speakers back to the stage for a panel dialogue.

By 2020, the workplace will look very different from the one we see today. Companies will function in a vastly more digitized environment, but 30 percent of them will fail because there aren't enough workers with the skills to drive the digital transformation that companies need. Analysts are forecasting a global shortage of 38 million to 40 million college-educated workers, a gap that will affect advanced nations as well as emerging countries. And the length of tenure in a job is shortening as well. The average time a worker spends in one job has declined from five to seven years to only two to three years, widening the gap between supply and demand. This session will explore the critical changes that must be made to give workers the skills required in the workforce of tomorrow.

As the price of oil has fallen to levels not seen in more than a decade, the oversupply and weak demand globally may mean the new era of cheap oil will be with us for a while. The dislocations have been many, from the damaged energy-dependent economies of countries such as Russia and Venezuela to battered global stock markets. Even so, most oil-producing states are moving full steam ahead on production, including Iran, which could add up to as much as 500,000 barrels a day to global markets. As the International Energy Agency recently said, "Unless something changes, the oil market could drown in oversupply." Is cheap oil the new normal? If so, what are the implications? What is the impact for the U.S. economy, energy production, the move to renewables, climate change, geopolitics and capital markets?

Water is the essential ingredient to life. Yet, the growing demand for food, energy and development is placing enormous pressure on the global water supply. Groundwater aquifers, which hold 95 percent of available fresh water, are being depleted in large areas of the world. In other regions clean water is scarce. The U.N. estimates that by 2025, two-thirds of the world’s population will live in water-stressed areas. Achieving water security, while protecting biodiversity, requires that we seek solutions on an unprecedented scale. How can we effectively conserve, manage and distribute water? What innovations in technology, research and policy are needed to build a more resilient water system? With a greater understanding of the challenges and new tools available, can we navigate organizational and geopolitical systems to build a more resilient world?

Ever since its lightning advance across Syria and Iraq two years ago, the world has become all too familiar with the jihadist militant group ISIS. Their grisly beheadings and destruction of ancient sites gained them not only international condemnation, but, unfortunately, many followers. While at first ISIS may have been seen as a "local" problem, the recent terrorist attacks it inspired in Brussels, Paris, Egypt, Jakarta, Africa, Istanbul and the U.S. have made it the top concern of many world leaders. Though increased military intervention by the U.S., Iraq, France, Russia and others have slowed ISIS' advance, the group remains a potent terrorist threat. But they aren't the only one. Al Qaeda remains strong in parts of the globe, Boko Haram in Africa, the Taliban in Asia. Homegrown terrorists who aren't formally affiliated with a group, but sympathize with a cause, also pose a serious threat. The question is: how can ISIS and other terrorists be defeated? Without more "boots on the ground," who will force their hand? What are the best strategies to win this war?

What will it be like to be human a century from now? Will 100- or even 120-year lifespans be commonplace as disease is tamed by gene editing and precision medicine? Will technology render many jobs obsolete, creating a society of leisure - and unemployment? Will climate change permanently alter our planet's ecosystem? Will computers take over many of the tasks we humans now perform on a daily basis? One thing is certain: Science and technology are advancing at a mind-boggling pace, and advances such as these -- once considered fantasy -- now appear to be within reach. To underscore this year's Global Conference theme, "The Future of Humankind," the Milken Institute has dedicated this lunch session to hearing from some of the world's most forward-thinking leaders on what we can expect in the coming century. These advances hold incredible promise, but be prepared for unintended consequences.

As CEO of AARP, Jo Ann Jenkins leads the world's largest nonprofit organization. Focused on health, financial resilience and personal fulfillment, Jenkins' mission is to revolutionize society's views on aging and drive a new consciousness about the possibilities created by longevity. Her new book, "Disrupt Aging," praised by leaders from Sheryl Sandberg and Arianna Huffington to NASCAR champion Jeff Gordon, advocates lifelong exploration, the celebration of discovery over decline and the opportunity to live purposefully at every age. Longer and healthier life is one of humankind's greatest achievements, and Jenkins believes that each of us can realize its potential through change in attitude and action. Join Jenkins and award-winning journalist, news anchor and documentarian Soledad O'Brien for a compelling look at the future of aging.

A university degree has long been held up as the Holy Grail -- the best ticket to a meaningful career and a middle-class lifestyle. Yet an unprecedented level of student debt, which may never be repaid, is piling up, while companies report that they can't find enough qualified workers. Increasing numbers of students who enter college are simply not completing their degrees, and high school graduates and dropouts often find few opportunities for a productive career. This panel will discuss how traditional and Internet-based universities, governments and corporations can collaborate to close the skills gaps in our economy and provide young people with affordable career-development alternatives.

It's been called clean energy's Holy Grail -- one with an almost inexhaustible source of fuel: hydrogen. For decades they've been talking about it, with the result being a lot more hype than fusion. Billions of dollars have been spent on nuclear fusion projects, without much to show for it. But the game may be changing. In recent years, startup companies capitalized by well-known investors such as Amazon's Jeff Bezos, Microsoft co-founder Paul Allen and PayPal co-founder Peter Thiel have taken on the quest for nuclear fusion, adopting a Silicon Valley mindset of "move fast, fail fast" that doesn't require government grants or giant infrastructure. For these bold scientists with a knack for thinking outside the box and taking risks, and for private investors who are willing to back them and take a gamble on saving the planet, fusion energy might be just around the corner, not decades away. These fusion startups are moving many times faster than publicly funded research ever could, often at much lower cost. Will this budding private sector and its new research approaches be a game changer? Has nuclear fusion's time finally arrived?

Ray Dalio believes that the most effective way to create meaningful work and meaningful relationships is through an idea meritocracy in which everyone speaks frankly and operations are open to scrutiny. That way, we can openly explore what is true -- including what's true about people's mistakes and weaknesses -- and can work through disagreements in an orderly way. This unique culture, operating for more than 40 years, has led Bridgewater to become the largest hedge fund firm in the world. Join Dalio to learn what inspired him to create a radically truthful and transparent culture, the challenges and benefits of this approach, and how it can be applied to other organizations. He will be joined onstage by Robert Kegan, Harvard professor of psychology, who has studied Bridgewater extensively and is the author of the recently published book, "An Everyone Culture," which features Bridgewater and other organizations designed to help employees use errors and vulnerabilities as opportunities for personal and company growth.

Activist investors are regularly in the headlines as they challenge how companies are run to enhance shareholder value. With "activism" now a common term within the financial community, its meaning has become blurred amid the profusion of styles and approaches. Some investors question whether activists are good for the companies they target or for other shareholders. So what does it mean to be an activist today, and what is the best way to understand their numerous strategies? This panel will discuss the pros and cons of the latest activist wave. What are the typical issues that activists target? How are the various styles of activism faring in the current environment? And are hedge fund activists finding support from pensions funds and other institutional investor clients?

Join leaders of the U.S. Congress for a frank discussion about the challenges and opportunities they see for the remainder of the year and from a new administration in 2017. From foreign policy and national security to prospects for tax reform and economic growth and innovation, a vast array of policy priorities will be addressed when congressional leaders and David Rubenstein, co-CEO of the Carlyle Group, discuss the future of America.

The U.S. national debt is expected to reach 75 percent of GDP this year, having risen from less than 40 percent in 2008 before the financial crisis and recession. Even while global demand for dollar assets has allowed the United States to fund itself at low rates, with the debt now approaching $20 trillion and interest rates expected to rise, fiscal pressures are likely to reemerge as a central policy concern for the next President. At the same time, many Republicans and Democrats alike agree that the U.S. tax code is badly in need of a makeover to address fairness, efficiency, and simplicity -- even while the two sides disagree on the changes to be made. The rash of corporate "inversions" by which U.S. corporations have moved their official headquarters abroad to escape U.S. taxes, and the Treasury Department's steps to curb such moves, further illustrate the importance of tax reform. How should the tax code be rewritten to provide a competitive landscape for U.S. companies without increasing the federal deficit? And what is the right long-term approach to dealing with the debt? The future of the U.S. economy depends on the answers.

We've all heard about smart, driverless cars, and in the near future such vehicles could be as commonplace as GPS. What are the newest innovations in driverless technology? And what about the latest technology that can also make us better, smarter drivers? Long before autonomous cars take over our highways, we will see innovations aimed at eliminating bad habits that cause costly and often deadly collisions. Take, for example, monitors that track eye and head movements to determine whether the driver is watching the road, or a gear shift knob that can read blood-alcohol levels from a sweaty palm. One company is even developing sensors for the steering wheel that can tell if a driver is having a heart attack. These innovations and more are within reach, but will they guarantee our safety? Moreover, because they track and store data, what will be the impact on privacy? And how will our current infrastructure accommodate these cars of the future?

As the Internet of Things expands and our world becomes more and more connected, the most critical issue facing global businesses is cybersecurity. Breaches are inevitable. An estimated 50 percent of U.S. adults have had their personal information hacked. Over the past year, there has been an increase in attacks against major banking, health care, utility and consumer retail companies. And hackers are finding new opportunities as more consumers use mobile payment platforms. The governments of the U.S. and other nations have been a target. This panel of experts will explore ways of safeguarding consumers and better protecting businesses and national security, including the increasingly popular idea of "cyber resilience" -- the ability to recover from attacks more quickly and keep losses, both reputational and financial, to a minimum.