Core Insights - Meta has appointed Dina Powell McCormick as its new president and vice chairman, marking a significant leadership change within the company [1] - Powell McCormick is the second former Trump administration official to join Meta's leadership in 2026, following the recent hiring of C.J. Mahoney as chief legal officer [1] Group 1: Background of Dina Powell McCormick - Powell McCormick served as a deputy national security advisor under President Trump, focusing on the Middle East, and has personal ties to the region as she was born in Cairo [7] - During her time in the Trump administration, she oversaw a $200 billion US-Saudi arms deal and was involved in significant diplomatic efforts, including Trump's Middle East tour [8] - She also held roles under President George W. Bush, where she became the highest-ranking Arab American in the administration by the time of her resignation in 2007 [9] Group 2: Career at Goldman Sachs - After leaving the Bush administration, Powell McCormick spent 16 years at Goldman Sachs, where she quickly rose to managing director and became a partner within three years [10] - She led initiatives such as the 10,000 Women program and the 10,000 Small Businesses program, showcasing her commitment to empowering women and small businesses [11] - Her leadership was well-regarded, with colleagues noting her ability to inspire and elevate team performance [12] Group 3: Personal Life and Political Involvement - Powell McCormick is married to Pennsylvania Senator Dave McCormick, and she has remained politically active through her husband's campaigns [13] - Dave McCormick ran for the Senate in 2022 but conceded the Republican nomination, later winning a Senate seat in 2024 [14]

Core Insights - Goldman Sachs is hosting the largest gathering of small business owners in Washington, D.C., on October 29-30, as part of its initiative to support small business growth [1][2][7] Event Details - The Goldman Sachs 10,000 Small Businesses Summit will feature educational programming and networking opportunities, allowing thousands of entrepreneurs to connect with business leaders and advocate for small business priorities [2] - Keynote speakers include influential figures such as Goldman Sachs CEO David Solomon, Kelly Loeffler from the Small Business Administration, and other notable business leaders [3][4] Objectives of the Summit - The summit aims to help business owners access capital, enhance workforce competitiveness, and adopt artificial intelligence effectively [4] - Educational sessions will focus on practical strategies for implementing AI, securing capital, planning for exits, and retaining employees [4] Participation and Impact - Over 2,300 small business owners are expected to attend, marking the largest gathering to date for the Goldman Sachs 10,000 Small Businesses program, which has been operational for 15 years [6][7] - The program has invested $750 million since its inception in 2010, supporting over 17,000 businesses that employ more than 245,000 people and generate over $17 billion in annual revenue [8][9] Alumni Success - Within six months of completing the program, 66% of alumni report revenue growth, 44% add new employees, and 85% collaborate with one another [9][10] Rural Business Support - In 2023, Goldman Sachs announced a $100 million investment to expand its programs in rural states over five years, addressing the needs of rural small businesses [12] - A survey indicated that 86% of rural small businesses plan to grow, but only 7% feel they have adequate private sector resources [12] Economic Significance - Small businesses account for nearly 46% of private sector employment in the U.S., creating approximately 9 out of every 10 net new jobs from March 2023 to March 2024 [16][17]