Yahoo Finance Jimmy McLoughlin’s notebook: What Rishi (might) do next
Jimmy McLoughlin is the man behind Jimmy’s Jobs of the Future, a podcast looking at the future of work. He writes for City A.M.’s notebook, a place where interesting people say interesting things
What will Rishi do next?
If Rishi Sunak leaves office this year, he will be the youngest UK premier in recent times to do so at just 43. Even if he wins, he is unlikely to serve past the age of 50. As someone obsessed with career pivots, that’s got me thinking – what will he do with decades of working life ahead of him? What is he going to do next?
Well, Sunak may find inspiration in the new book from Hilary Clinton’s former advisor Jared Cohen, which looks at what former U.S Presidents do after leaving office.
Cohen sketches out the post-office lives of seven former Presidents; for instance, William Taft went on to become Chief Justice of the Supreme Court; Jimmy Carter set up his own pseudo-political office (effectively resulting in a never-ending Presidency); and George W. Bush went into painting (to the pleasure of the US public, who now rate him more highly than ever).
Will any of these options appeal to Sunak?
Many former UK PMs are required to ‘put hay in the loft’, but the lucrative speaker circuit or a portfolio of private sector roles are unlikely to hold much allure for Sunak.
Whatever you think of Sunak’s politics, he is undoubtedly bright, hardworking and future focused. Cohen describes the post-presidency as a third act. I think Sunak may have a fourth and fifth act in him. A little-known fact about Sunak is that as part of his MBA at Stanford, he took a module on film studies. Could he be tempted back to his roots by launching a production empire? Could his obsession with mathematics lead him to follow the Thomas Jefferson model of launching a new university?
My bet is on one of those, having attempted to probe when I had him on my podcast back in 2022. Though Alexander Hamilton famously worried former presidents might skulk around like unhappy “ghosts,” I sense that the endlessly-energetic Sunak will find joy as a new, albeit less political racehorse.
New hope for side-lined founders?
One of the highlights of my week was heading to Channel 4’s iconic venue on Horseferry Road, where the broadcaster’s venture arm has launched a new programme called ‘untapped’. The idea is to fund founders who have been overlooked by the traditional venture capital ecosystem.
When you consider a VC founder is 51 times more likely than the average to have studied in London, Oxford or Cambridge, and 95 per cent are men, there’s clearly a giant opportunity.
During the evening, I met founders who have made it, despite all the odds being – literally – stacked against them.
Among them was Grace Ubawuichi, who had to go abroad to secure investment, for her company Xin and Voltaire – an alcoholic sorbet company. I can vouch that they were excellent!
Can I quote you on that?
‘Mustafa [Suleyman] and Microsoft look like a great fit … quite a thing to see the top roles in AI both at Deep Mind/Google and Microsoft go to extraordinary British talent’
Chancellor Jeremy Hunt
A must watch
A great watch this week – Geoff Norcott’s Documentary on BBC Iplayer: Is university really worth it? Norcott heads on a journey around the country to ultimately decide whether he should get a new car, as his 2015 SEAT Ibiza sputters, or “invest” in his son’s future by paying his university fees.
A few more clips from my Uni Documentary.
(including my weird date with a robot)
Available on iPlayer – link 👇🏼 pic.twitter.com/BfIeX7knEb— Geoff Norcott (@GeoffNorcott) March 17, 2024
With UK universities now costing local students £9,000 a year and an additional £13,000 in living costs, the documentary delves into shocking statistics including how 1 in 4 students regularly have to go without food or other necessities because they can’t afford them and 59 per cent in the end think university wasn’t worth it.
It’s a subject close to my heart as a former advisor to Downing Street on the future of work, and the tough decisions facing young people today. The initial push for people to go to university was to improve the economy and boost social mobility. But now, with fees higher than ever, lectures being cancelled, and other attractive initiatives like degree apprenticeships, it’s clear that university is not the only way.
Find out what Norcott discovers and if he drives back home in a new car.
Jimmy McLoughlin is a former Downing Street adviser and host of Jimmy’s Jobs of the Future podcast
