Shari Redstone (J'75), ViacomCBS chairwoman and president of National Amusements, was hosted by Women Entrepreneurs at Tufts to talk about her career as a woman in business and share advice on being successful and giving back. Redstone was named one of Time Magazine's100 most influential people of 2020.
Redstone was introduced by Jordan Sclar of Women Entrepreneurs at Tufts.
"[She] graduated from Tufts in 1975, she went on to earn law degrees at Boston University, and after practicing both corporate and criminal law, Ms. Redstone joined National Amusements, becoming president of the company in 1999," Sclar, a junior, said. "In 2011, she co-founded Advancit Capital … [and] in 2018, Ms. Redstone facilitated the merger of Viacom and CBS."
Redstone opened by discussing her education and the way it has impacted her career.
"Even if you go [into] business, law school is the best education," she said. "It does change the way you think, it changes the way you read, it changes the way you watch TV, it changes the way you relate to people."
She said that although she did not ultimately continue in her law career, the perspective she gained from law school has helped her in every career pursuit.
"It's not about having all the answers, it's about having the right questions," she said.
After law school, she worked toward a master's degree in social work, although she did not complete it due to personal circumstances. It was afterward that she set her sights on business. She credits her evolving career path in part to her undergraduate education, which set a tone of change and flexibility.
"I think Tufts really allowed you to pivot," Redstone said. "They really allowed you to change your mind, and they gave you the resources and the support you needed to not have a straight path but to have a curvy path."
When Redstone began working at National Amusements, she had to quickly adjust to a new industry in which she had no prior experience.
"I was with a group of men who had been doing business a certain way for x number of years, and it was really hard to go up against that," she said. "So, when I first went into National I often say that the first year I just listened. The second year, I would say my opinion, but always give in. And then the third year, I actually started to try to have an impact in some of the things that I wanted to do."
A major theme of Redstone's talk was flexibility and the importance of being entrepreneurial in any business. When she founded Advancit Capital, she saw an opportunity to combine a traditional business venture with a more innovative approach that looked to the future of the market.
"I really believed that the future of the media and entertainment industry was going to be how technology eventually intersected with traditional media and traditional business, and ultimately that's exactly what happened," Redstone said.
Her latest venture, ViacomCBS, is preparing to launch Paramount+, a new streaming service.
"There are those who think we have to be in streaming or in linear, [but] that is a false choice. We are in streaming and linear," she said. "We can do it, because we create content that people want to see."
She also spoke about the role ViacomCBS plays in seeking to address issues of discrimination, including racism and anti-Semitism.
"We actually have a focus in the company called Content for Change, and while I think we've done a good job in the company, how do we use our content to have an impact on people who are watching our content, to create the kind of conversations that create change," Redstone said.
Redstone said that as a woman in business, she feels a responsibility to further efforts like Content for Change and bring a different perspective to the table.
"I do think [female]leadership, whether you're looking at corporations, you're looking at countries, you're looking at families — I do think it's really, really important," she said. "[I have an opportunity] to really try to make changes in diversity, in inclusion, in equality — to make that a higher issue," Redstone said.
In addition to her career in business, Redstone spoke about many other interests, including philanthropy and spending time with her family. She said that balance between being a successful business woman and having a positive impact on the world is important to her, and that it drives her philanthropic efforts.
"I almost felt guilty when I went into corporate America and I didn't pursue a career more in social services in one way or another, but then I realized what the resources are that we have, where we can have an impact," she said. "[Philanthropy] is a part of everything I do. Sure, we're in the business to make money, but that's not what you feel good about at the end of the day."
