Tech Ventures

Technology reflects the values of those who make them. The coronavirus pandemic gives us an important time to pause and rethink how we build technology ventures in Silicon Valley. It is no longer enough to do well only by our shareholders as 181 CEOs from major U.S. corporations pledged to serve all stakeholders’ interests at the 2019 Business Roundtable. 

What are we doing in Silicon Valley as AI transforms every business imaginable? While we are reimagining capitalism from shareholder capitalism to stakeholder capitalism, it is also time to reimagine entrepreneurship.

COMPASSION IS NO LONGER OPTIONAL

For decades since the founding of Silicon Valley in the 50s, we have achieved enormous success because of our unique entrepreneurial culture. We have been leading successfully with our intellects. Albert Einstein reminds us, “We should take care not to make the intellect our god. It cannot lead; it can only serve.” We need to lead with compassion for the next generation of technology ventures because it is no longer an option. 

Both Profits and Purpose are Required

The corporations of the past focused only on profits because it is just the way it is as Adam Smith defined it in his book, The Wealth of Nations. Before Smith wrote The Wealth of Nations, he wrote The Theory of Moral Sentiments. If we focus only on profits without regard to morality, we run into serious problems as everyone focuses on extracting profits for shareholders and, oftentimes, at others’ expense. It was never Smith’s intention to define capitalism without morality.  As entrepreneurs, it is important to focus on both profits and purpose.  Without a greater propose, entrepreneurship doesn’t work because the essence of entrepreneurship is to create instead of extract - create abundance (not extract values).

Compassion is Highly Profitable

We believe compassionate companies make better companies, which generates a better return in the long run. Through Project AI+Compassion, we want to help gather data on compassionate tech companies and show how they are generating a better return for shareholders and stakeholders.  We want to show why compassion is indeed both profitable and meaningful.  We want to help everyone become more compassionate towards the world around us.

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