# CEOs need to actively seek out bad news

Markdown copy of https://realalpha.app/s/ceos-need-to-actively-seek-out-bad-news/ on Real Alpha, the best minutes from long interviews with the people building AI. Cite and link the page, not this copy.

- Speaker: [Chase Lochmiller](https://realalpha.app/builders/chase-lochmiller/) · Chase Lochmiller is CEO of Crusoe. · Co-founded Crusoe in 2018 on the bet that energy would be AI's biggest bottleneck, and builds the data centers.
- Host: [Sonya Huang](https://realalpha.app/people/sonya-huang/) · Partner, Sequoia Capital · Works with OpenAI and Anthropic; co-wrote Sequoia's essay on generative AI.
- Host: [Pat Grady](https://realalpha.app/people/pat-grady/) · Co-steward, Sequoia Capital · Joined Sequoia in 2007; backed Snowflake, Zoom, ServiceNow and OpenAI.
- Show: Training Data
- Episode: [Crusoe CEO Chase Lochmiller: Turning Stranded Energy Into Intelligence](https://realalpha.app/v/64vUl9k-IAQ/), Oct 29, 2026
- Moment: 48:32 to 50:51 of the episode (2 min), playing on https://realalpha.app/s/ceos-need-to-actively-seek-out-bad-news/; the episode from there: https://realalpha.app/v/64vUl9k-IAQ/?t=2912

## Quote

> “I care **way less about the good news** than I do about the bad news.”
> — [Chase Lochmiller](https://realalpha.app/builders/chase-lochmiller/) at [50:23](https://realalpha.app/v/64vUl9k-IAQ/?t=3023) · Training Data

## Takeaways

1. Ask directly what is going wrong and where the company is weak.
2. Show people that feedback can change your mind.
3. Bad-news channels matter more as leaders get farther from the front line.

## About this segment

Chase Lochmiller says CEOs routinely receive bad news and should deliberately ask what is going wrong. Acting on criticism helps employees feel able to speak up.

From “Crusoe CEO Chase Lochmiller: Turning Stranded Energy Into Intelligence”, Oct 29, 2026. [Watch the full episode](https://realalpha.app/v/64vUl9k-IAQ/)

## Transcript

Transcribed by machine (Whisper) from the episode’s audio, so a word may be off here and there.

[48:36](https://realalpha.app/v/64vUl9k-IAQ/?t=2916) these communities. Do you think having thick skin is a very important attribute for a CEO? A hundred percent. Yeah. I mean, just your job is to be the receiver of bad news very frequently and then be able to think with a clear mind and make decisions in light of that bad news. And I think the other thing that is important for a leader is like, and frankly, something that I'm always struggling with is as the company grows and the company gets bigger, I'm further from a distance from individuals on the front lines of the company. So trying to close the gap, making sure that I'm always approachable to that people can speak truth to power. You want to be in a position where people can voice their concerns and be heard. And, you know, in light of presenting truth, you know, in the context of everything else that's happening, that you can actually adjust, you know, the direction of your

[49:43](https://realalpha.app/v/64vUl9k-IAQ/?t=2983) business. Is to encourage that, to make sure people will stand up to you? Because the 2,000th person you hire, they put you on a pedestal. The 20th person's beating you up day to day. Yeah. I mean, honestly, it's like mining for it, just asking for it relentlessly. I think when people see examples of you taking criticism and feedback, responding to it, changing your mind. I think it empowers people to be like, oh, actually my voice should, you know, I should voice my concern. And, you know, like I think people often have this perspective that you as the leader, you as the CEO, you want to only want to hear the good news. Generally, like the good news is great. Like I want to hear it, but like I care way less about the good news than I do about the bad news. So like trying to try to like run into those, like what's going wrong?

[50:34](https://realalpha.app/v/64vUl9k-IAQ/?t=3034) Like, what are we bad at? Like, you know, how do we fix these things? What are the problems? How do I go resolve those? Like, you know, I think that is a critical characteristic of a CEO is like that willingness to go seek out and like run into the burning buildings, figure out the