About this episode
Eric Ries discusses redefining profit to maximize human flourishing and the potential of mission-driven companies.
What if we redefined “profit” as maximizing human flourishing? Eric Ries has seen the corrosive effects of shareholder primacy at every company he’s worked with. Mission-driven companies, however, are the outliers: demonstrating stronger profits, better talent, and deeper loyalty. So why don't we build differently? In the long arc of economic history, our current definitions of profit and value are relatively new, held in place by normative consensus. But we can flip the script. By using what Ries calls “mission transmission,” we can build companies around a coherent set of values, where profit becomes the natural extension of those values, rather than the only goal. “Start with the thing you have the most agency over," he said. "You can decide the purpose of your work.” We built this system, Ries urged, so we can rebuild it better.
People in this episode
Guest: Eric Ries
Topics covered
- profit
- human flourishing
- mission-driven companies
- shareholder primacy
- values-based business
Keywords
- profit
- human flourishing
- mission-driven
- shareholder primacy
- values
- economic history
- business
Mentioned in this episode
Organizations: The Long Now Foundation
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