Season 2, Ep. 17 | For The Greater Good: A Conversation with Don Graves
In this episode of the More Elephant podcast, we sit down with Don Graves, former U.S. Deputy Secretary of Commerce and founder of Highland Creek Advisors, to talk about leadership, economic policy, and what it takes to create real impact at scale.
Don’s path into public service was shaped by a deep-rooted commitment to community, influenced by generations of educators and mentors who challenged him to think critically and stay open to new perspectives. From early experiences in law school and civil rights work to advising two U.S. presidents, his career reflects a consistent focus on expanding opportunity and removing barriers.
We explore his role in helping stabilize Detroit during one of its most challenging periods, where listening to communities became the foundation for meaningful change. Don shares how real impact happens when policy aligns with the lived experiences of the people it’s meant to support, and why empowering teams at every level of government is key to execution.
The conversation also dives into the realities of innovation, including the growing influence of AI and its potential to reshape the workforce. Don offers a thoughtful perspective on how technological progress can create opportunity while also increasing inequality in the short term, and what leaders need to consider moving forward.
From workforce investment to global partnerships, Don highlights the importance of building an economy that works for more people. At its core, this episode is about trust, collaboration, and the responsibility leaders carry to create systems that support long-term growth and shared success for all.
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Show Notes
Don Graves has spent three decades at the center of American economic and national security policy—as a trusted advisor to two presidents, a senior Cabinet official, and one of the country's most effective practitioners of place-based economic development.
As the 19th Deputy Secretary of Commerce, he served as Chief Operating Officer of a department of nearly 50,000 people and a $160 billion budget, while simultaneously shaping the Biden Administration's agenda on critical and emerging technologies, industrial strategy, national security, international trade, and commercial space. He authored Commerce's first-ever National Security Strategy, The Decisive Decade, and led trade missions to Korea and Japan to deepen U.S. partnerships on semiconductors, AI, cybersecurity, and clean technology. President Biden named him Puerto Rico Economic Growth Coordinator, where he led a whole-of-government effort across 17 federal agencies that resulted in more than $140 billion in federal investment and 100,000 new jobs—the most ambitious place-based federal recovery effort of the Biden era.
During the Obama Administration, Graves was appointed by President Obama to serve as Executive Director of the President's Council on Jobs and Competitiveness, advising the President directly on economic strategy and American competitiveness. He was simultaneously tapped to lead the federal government's effort to stabilize Detroit during and after bankruptcy—coordinating 20+ agencies and more than $300 million in targeted investment in what became a defining model of federal-local partnership. He went on to serve as Counselor and Domestic and Economic Policy Director to then-Vice President Biden, one of the most trusted advisory roles in the Obama White House. At the U.S. Department of the Treasury, he oversaw the CDFI Fund, the $4 billion Small Business Lending Fund, and the $1.5 billion State Small Business Credit Initiative.
Between his government roles, Graves led corporate responsibility and community relations at KeyBank, overseeing a $16.5 billion Community Benefits Plan—bridging the gap between institutional capital and the communities that need it most.
He holds a Bachelor of Arts from Williams College and a Juris Doctor from Georgetown University Law Center, where he received the Dean's Award.
Key More Elephant Takeaways in this Episode:
Effective policy and leadership begin by understanding the needs of communities. Don emphasizes that the most successful initiatives are shaped by those directly affected, not just by top-down decision-making.
Big ideas only work when the right people are empowered to carry them out.
Aligning teams, supporting decision-makers, and focusing on implementation are what turn plans into results.
Advances like AI can drive economic growth, but they can also widen gaps before new opportunities emerge.
From government to business to global partnerships, trust shapes outcomes. Without it, collaboration breaks down and progress becomes harder to sustain.
and more…
More About Highland Creek Advisors: www.highlandcreekadvisors.com
Don Graves : dongraves.us
Transcript
More Elephant Intro
[00:00:38] Jason Rudman: My guest on the More Elephant podcast and I met almost a decade ago, when he led corporate responsibility and community relations at KeyBank, overseeing a $16.5 billion community benefits plan attempting to bridge the gap between institutional capital and the communities that need it most.
Don Graves has spent three decades at the center of American economic and national security policy as a trusted advisor to two presidents, a senior cabinet official, and one of the country's most effective practitioners of place-based economic development.
