I’m gonna start my talk with a dirty word if that’s okay it’s a pretty foul
word if that’s okay it’s a pretty foul
word if that’s okay it’s a pretty foul mouthed word so I understand some of you
mouthed word so I understand some of you
mouthed word so I understand some of you might be might be offended is that all
might be might be offended is that all
might be might be offended is that all right the word might be so repulsive
right the word might be so repulsive
right the word might be so repulsive actually that some of you could get up
actually that some of you could get up
actually that some of you could get up and walk out the door so I just want to
and walk out the door so I just want to
and walk out the door so I just want to give you that heads up well the word is
give you that heads up well the word is
give you that heads up well the word is so vile but even the amazing David
so vile but even the amazing David
so vile but even the amazing David Schneider our last speaker even he can’t
Schneider our last speaker even he can’t
Schneider our last speaker even he can’t change his perspective enough to find
change his perspective enough to find
change his perspective enough to find something good in this word all right
something good in this word all right
something good in this word all right you’re ready for it now just lean in for
you’re ready for it now just lean in for
you’re ready for it now just lean in for a little bit for me the word is
a little bit for me the word is
a little bit for me the word is capitalism yeah I know right
capitalism yeah I know right
capitalism yeah I know right capitalism disgusting almost half of all
capitalism disgusting almost half of all
capitalism disgusting almost half of all Americans have a negative view of
Americans have a negative view of
Americans have a negative view of capitalism I say the word you are
capitalism I say the word you are
capitalism I say the word you are probably picturing in your head that fat
probably picturing in your head that fat
probably picturing in your head that fat cat guy from Monopoly with the
cat guy from Monopoly with the
cat guy from Monopoly with the three-piece suit and the hat and the
three-piece suit and the hat and the
three-piece suit and the hat and the little mustache and the this thing this
little mustache and the this thing this
little mustache and the this thing this thing that goes in the monocle there’s a
thing that goes in the monocle there’s a
thing that goes in the monocle there’s a sense that capitalism is all about greed
sense that capitalism is all about greed
sense that capitalism is all about greed and corruption and cheating consumers
and corruption and cheating consumers
and corruption and cheating consumers and destroying the environment and
and destroying the environment and
and destroying the environment and exploiting workers yet I stand before
exploiting workers yet I stand before
exploiting workers yet I stand before you today as a fervent believer in the
you today as a fervent believer in the
you today as a fervent believer in the power of capitalism as a force for good
power of capitalism as a force for good
power of capitalism as a force for good now I’m not an unabashed believer in
now I’m not an unabashed believer in
now I’m not an unabashed believer in capitalism
capitalism
capitalism I’m an abashed believer in capitalism no
I’m an abashed believer in capitalism no
I’m an abashed believer in capitalism no one ever talks about being a bastard
one ever talks about being a bastard
one ever talks about being a bastard anything I’m a bash that’s the opposite
anything I’m a bash that’s the opposite
anything I’m a bash that’s the opposite of the word I don’t you just take the
of the word I don’t you just take the
of the word I don’t you just take the prefix off it’s the opposite of the word
prefix off it’s the opposite of the word
prefix off it’s the opposite of the word I’m unabashed I am in a batch believing
I’m unabashed I am in a batch believing
I’m unabashed I am in a batch believing cab I have some shame it’s because I
cab I have some shame it’s because I
cab I have some shame it’s because I recognize there are bad actors out there
recognize there are bad actors out there
recognize there are bad actors out there who are extracting more value out of
who are extracting more value out of
who are extracting more value out of society than they are creating I think I
society than they are creating I think I
society than they are creating I think I understand why they do that
understand why they do that
understand why they do that I understand how capitalism is evolving
I understand how capitalism is evolving
I understand how capitalism is evolving to take care of that and I understand
to take care of that and I understand
to take care of that and I understand what your role can be in this new
what your role can be in this new
what your role can be in this new exciting future of capitalism
exciting future of capitalism
exciting future of capitalism fundamentally you got to understand
fundamentally you got to understand
fundamentally you got to understand fundamentally capitalism is good
fundamentally capitalism is good
fundamentally capitalism is good capitalism is good because it creates
capitalism is good because it creates
capitalism is good because it creates value and capitalism is ethical because
value and capitalism is ethical because
value and capitalism is ethical because it’s based on a voluntary exchange
it’s based on a voluntary exchange
it’s based on a voluntary exchange capitalism is noble because it gives
capitalism is noble because it gives
capitalism is noble because it gives people purpose and meaning and
people purpose and meaning and
people purpose and meaning and capitalism is heroic because it lifts
capitalism is heroic because it lifts
capitalism is heroic because it lifts people out of poverty 200 years ago
people out of poverty 200 years ago
people out of poverty 200 years ago 80 percent of the world’s population
80 percent of the world’s population
80 percent of the world’s population lived on less than one dollar a day
lived on less than one dollar a day
lived on less than one dollar a day today at 16% that’s the power of
today at 16% that’s the power of
today at 16% that’s the power of capitalism lifting 2 billion people out
capitalism lifting 2 billion people out
capitalism lifting 2 billion people out of poverty to take a more recent example
of poverty to take a more recent example
of poverty to take a more recent example since 1999 China’s open trade policies
since 1999 China’s open trade policies
since 1999 China’s open trade policies policies have lifted 350 million people
policies have lifted 350 million people
policies have lifted 350 million people out of poverty I’d say that capitalism
out of poverty I’d say that capitalism
out of poverty I’d say that capitalism is the greatest anti-poverty achievement
is the greatest anti-poverty achievement
is the greatest anti-poverty achievement in the history of mankind so how do you
in the history of mankind so how do you
in the history of mankind so how do you reconcile these two competing narratives
reconcile these two competing narratives
reconcile these two competing narratives of capitals there’s the corrupt and
of capitals there’s the corrupt and
of capitals there’s the corrupt and there’s the heroic when I’d say it
there’s the heroic when I’d say it
there’s the heroic when I’d say it depends on what your perspective on the
depends on what your perspective on the
depends on what your perspective on the purpose of business is most people when
purpose of business is most people when
purpose of business is most people when I asked what’s the purpose of business
I asked what’s the purpose of business
I asked what’s the purpose of business they say it’s that make a lot of money
they say it’s that make a lot of money
they say it’s that make a lot of money right that’s the point to maximize
right that’s the point to maximize
right that’s the point to maximize shareholder value we’ve heard that
shareholder value we’ve heard that
shareholder value we’ve heard that phrase so many times you think it’s just
phrase so many times you think it’s just
phrase so many times you think it’s just natural you think it’s a lot some
natural you think it’s a lot some
natural you think it’s a lot some universal law of capitalism you gotta
universal law of capitalism you gotta
universal law of capitalism you gotta maximize shareholder value but the truth
maximize shareholder value but the truth
maximize shareholder value but the truth is that’s just a trend that’s a fad it’s
is that’s just a trend that’s a fad it’s
is that’s just a trend that’s a fad it’s a passing fancy
a passing fancy
a passing fancy in the long history of capitalism look
in the long history of capitalism look
in the long history of capitalism look if capitalism started here this is gonna
if capitalism started here this is gonna
if capitalism started here this is gonna be a timeline I’m gonna do for you if
be a timeline I’m gonna do for you if
be a timeline I’m gonna do for you if capitalism started here one day and
capitalism started here one day and
capitalism started here one day and here’s today March 2nd 2017 this is to
here’s today March 2nd 2017 this is to
here’s today March 2nd 2017 this is to scale by the way the idea of the idea
scale by the way the idea of the idea
scale by the way the idea of the idea that the purpose of business is to
that the purpose of business is to
that the purpose of business is to maximize shareholder value it started
maximize shareholder value it started
maximize shareholder value it started about it started about heat here right
about it started about heat here right
about it started about heat here right there less than 50 years ago it was just
there less than 50 years ago it was just
there less than 50 years ago it was just an idea that a guy said and he wrote it
an idea that a guy said and he wrote it
an idea that a guy said and he wrote it down in a magazine that’s it and we’ve
down in a magazine that’s it and we’ve
down in a magazine that’s it and we’ve been living with it ever since then the
been living with it ever since then the
been living with it ever since then the date was September 13 1970 the magazine
date was September 13 1970 the magazine
date was September 13 1970 the magazine was in New York Times Magazine and the
was in New York Times Magazine and the
was in New York Times Magazine and the guy was Milton Friedman and he said that
guy was Milton Friedman and he said that
guy was Milton Friedman and he said that to take capital or resources from a
to take capital or resources from a
to take capital or resources from a company and donate it to a charity
company and donate it to a charity
company and donate it to a charity that’s feeling from the investors it’s a
that’s feeling from the investors it’s a
that’s feeling from the investors it’s a pretty harsh word that’s stealing from
pretty harsh word that’s stealing from
pretty harsh word that’s stealing from the investors his thinking went like
the investors his thinking went like
the investors his thinking went like this
this
this the shareholders the investors they own
the shareholders the investors they own
the shareholders the investors they own the company right the company employees
the company right the company employees
the company right the company employees the managers therefore the managers
the managers therefore the managers
the managers therefore the managers responsibility is to create maximum
responsibility is to create maximum
responsibility is to create maximum value for the investors that’s where it
value for the investors that’s where it
value for the investors that’s where it comes from it’s not that he what didn’t
comes from it’s not that he what didn’t
comes from it’s not that he what didn’t believe in altruism he did believe in
believe in altruism he did believe in
believe in altruism he did believe in altruism but what he said was if you
altruism but what he said was if you
altruism but what he said was if you feel altruistic then do it with your own
feel altruistic then do it with your own
feel altruistic then do it with your own money don’t steal from the corporation
money don’t steal from the corporation
money don’t steal from the corporation and it’s that thinking that short-term
and it’s that thinking that short-term
and it’s that thinking that short-term thinking has gotten to where we are
thinking has gotten to where we are
thinking has gotten to where we are today it’s gotten where investors and
today it’s gotten where investors and
today it’s gotten where investors and managers think success comes from laying
managers think success comes from laying
managers think success comes from laying off workers and shutting factories and
off workers and shutting factories and
off workers and shutting factories and and disregarding the human consequence
and disregarding the human consequence
and disregarding the human consequence it’s there’s this hideous phrase that
it’s there’s this hideous phrase that
it’s there’s this hideous phrase that comes right out of this that phrase it’s
comes right out of this that phrase it’s
comes right out of this that phrase it’s not personal it’s just business that’s
not personal it’s just business that’s
not personal it’s just business that’s where this comes from
where this comes from
where this comes from and so what do we do about this idea
and so what do we do about this idea
and so what do we do about this idea these two competing visions of
these two competing visions of
these two competing visions of capitalism well there’s a challenge
capitalism well there’s a challenge
capitalism well there’s a challenge that’s rising up to Friedman this idea
that’s rising up to Friedman this idea
that’s rising up to Friedman this idea that the shareholder owns the company I
that the shareholder owns the company I
that the shareholder owns the company I said it earlier and not one of you
said it earlier and not one of you
said it earlier and not one of you batted an eye no one raises an objection
batted an eye no one raises an objection
batted an eye no one raises an objection at all the shareholder we think it’s
at all the shareholder we think it’s
at all the shareholder we think it’s true the shareholder owns the company
true the shareholder owns the company
true the shareholder owns the company that’s not an incontrovertible fact
that’s not an incontrovertible fact
that’s not an incontrovertible fact that’s a controvert Obul fact again I’m
that’s a controvert Obul fact again I’m
that’s a controvert Obul fact again I’m using a word no one ever uses by taking
using a word no one ever uses by taking
using a word no one ever uses by taking the prefix off that’s a controversial
the prefix off that’s a controversial
the prefix off that’s a controversial fact it can be debated if you own
fact it can be debated if you own
fact it can be debated if you own something you have certain rights
something you have certain rights
something you have certain rights responsibilities and privileges and if
responsibilities and privileges and if
responsibilities and privileges and if you take that test and ply it to
you take that test and ply it to
you take that test and ply it to shareholder you’ll see that perhaps they
shareholder you’ll see that perhaps they
shareholder you’ll see that perhaps they don’t own the corporation and watch this
don’t own the corporation and watch this
don’t own the corporation and watch this well let’s assume for an example that I
well let’s assume for an example that I
well let’s assume for an example that I am a shareholder in Apple Computer as a
am a shareholder in Apple Computer as a
am a shareholder in Apple Computer as a shareholder I have rights
shareholder I have rights
shareholder I have rights responsibilities and privileges so
responsibilities and privileges so
responsibilities and privileges so number one I should be able to walk into
number one I should be able to walk into
number one I should be able to walk into the headquarters building in Cupertino
the headquarters building in Cupertino
the headquarters building in Cupertino anytime I want walk through the front
anytime I want walk through the front
anytime I want walk through the front door the headquarters walk into the
door the headquarters walk into the
door the headquarters walk into the building and strut around like I own the
building and strut around like I own the
building and strut around like I own the place because well I own the place
place because well I own the place
place because well I own the place I haven’t tried it but I’m pretty sure
I haven’t tried it but I’m pretty sure
I haven’t tried it but I’m pretty sure that I would be denied entrance to the
that I would be denied entrance to the
that I would be denied entrance to the building so that doesn’t feel like an
building so that doesn’t feel like an
building so that doesn’t feel like an owner as an owner I should be able to
owner as an owner I should be able to
owner as an owner I should be able to have access to products and services in
have access to products and services in
have access to products and services in advance of everybody else but I promise
advance of everybody else but I promise
advance of everybody else but I promise you the next time Apple
you the next time Apple
you the next time Apple comes out with a cool new product I will
comes out with a cool new product I will
comes out with a cool new product I will be sleeping out in front of the Apple
be sleeping out in front of the Apple
be sleeping out in front of the Apple store just like you that doesn’t feel
store just like you that doesn’t feel
store just like you that doesn’t feel like an owner as an owner I should have
like an owner as an owner I should have
like an owner as an owner I should have some say in the management how the
some say in the management how the
some say in the management how the practices of the company go but the
practices of the company go but the
practices of the company go but the truth is there’s this convoluted
truth is there’s this convoluted
truth is there’s this convoluted structure where I elect a director and
structure where I elect a director and
structure where I elect a director and the director who hires a CEO and I don’t
the director who hires a CEO and I don’t
the director who hires a CEO and I don’t really have any control over the
really have any control over the
really have any control over the management the company and finally as it
management the company and finally as it
management the company and finally as it as an owner I should be able to withdraw
as an owner I should be able to withdraw
as an owner I should be able to withdraw my share of the profits anytime I want I
my share of the profits anytime I want I
my share of the profits anytime I want I don’t think that’s gonna go very well so
don’t think that’s gonna go very well so
don’t think that’s gonna go very well so we’ve broken this idea that the
we’ve broken this idea that the
we’ve broken this idea that the shareholder owns the corporation which
shareholder owns the corporation which
shareholder owns the corporation which means the purpose of a business is not
means the purpose of a business is not
means the purpose of a business is not necessarily to maximize shareholder
necessarily to maximize shareholder
necessarily to maximize shareholder value so what is the purpose of a
value so what is the purpose of a
value so what is the purpose of a business well I assert the purpose of a
business well I assert the purpose of a
business well I assert the purpose of a business is declared by the CEO and the
business is declared by the CEO and the
business is declared by the CEO and the leadership team they get to decide what
leadership team they get to decide what
leadership team they get to decide what the purpose of the businesses and an
the purpose of the businesses and an
the purpose of the businesses and an investor gets to participate or not
investor gets to participate or not
investor gets to participate or not depending on who they believe what’s
depending on who they believe what’s
depending on who they believe what’s going on and here’s the exciting thing
going on and here’s the exciting thing
going on and here’s the exciting thing the incoming generation of business
the incoming generation of business
the incoming generation of business leaders and I’m talking to you students
leaders and I’m talking to you students
leaders and I’m talking to you students of Grand Canyon University the incoming
of Grand Canyon University the incoming
of Grand Canyon University the incoming generation of business leaders has been
generation of business leaders has been
generation of business leaders has been shaped by the failures and breakdowns of
shaped by the failures and breakdowns of
shaped by the failures and breakdowns of capitalism and they’re deciding there’s
capitalism and they’re deciding there’s
capitalism and they’re deciding there’s a new definition of wealth we all
a new definition of wealth we all
a new definition of wealth we all understand well as financial wealth
understand well as financial wealth
understand well as financial wealth absolutely
absolutely
absolutely but there’s other kinds of wealth –
but there’s other kinds of wealth –
but there’s other kinds of wealth – there’s ecological wealth there’s
there’s ecological wealth there’s
there’s ecological wealth there’s emotional wealth there’s spiritual
emotional wealth there’s spiritual
emotional wealth there’s spiritual wealth is physical wealth there’s social
wealth is physical wealth there’s social
wealth is physical wealth there’s social wealth is intellectual wealth and so now
wealth is intellectual wealth and so now
wealth is intellectual wealth and so now this new generation of leaders gets to
this new generation of leaders gets to
this new generation of leaders gets to decide what kind of wealth they want to
decide what kind of wealth they want to
decide what kind of wealth they want to create in their company against what
create in their company against what
create in their company against what stakeholder now we’ve already talked
stakeholder now we’ve already talked
stakeholder now we’ve already talked about once take hold of a shareholder
about once take hold of a shareholder
about once take hold of a shareholder we’re pretty clear about them they’re
we’re pretty clear about them they’re
we’re pretty clear about them they’re very important but there’s other
very important but there’s other
very important but there’s other stakeholders to the customers that’s a
stakeholders to the customers that’s a
stakeholders to the customers that’s a stakeholder the employees they’re a
stakeholder the employees they’re a
stakeholder the employees they’re a stakeholder the larger communities very
stakeholder the larger communities very
stakeholder the larger communities very stakeholder how about the planet Earth
stakeholder how about the planet Earth
stakeholder how about the planet Earth the environment they’re a stakeholder
the environment they’re a stakeholder
the environment they’re a stakeholder how about the supply chain their stake
how about the supply chain their stake
how about the supply chain their stake holder so now the leaders of these
holder so now the leaders of these
holder so now the leaders of these companies get to say here’s a whole
companies get to say here’s a whole
companies get to say here’s a whole collage of wealth that we can create and
collage of wealth that we can create and
collage of wealth that we can create and here’s a menu of stakeholders we can
here’s a menu of stakeholders we can
here’s a menu of stakeholders we can create it for and that becomes the
create it for and that becomes the
create it for and that becomes the purpose of our business it’s pretty
purpose of our business it’s pretty
purpose of our business it’s pretty exciting this idea I want to say one
exciting this idea I want to say one
exciting this idea I want to say one thing
thing
thing I want to talk about profit for a second
I want to talk about profit for a second
I want to talk about profit for a second this doesn’t mean you disregard profit
this doesn’t mean you disregard profit
this doesn’t mean you disregard profit profits critical it’s essential it’s
profits critical it’s essential it’s
profits critical it’s essential it’s non-negotiable not a negotiable you’ve
non-negotiable not a negotiable you’ve
non-negotiable not a negotiable you’ve got to have it but I want to tell you
got to have it but I want to tell you
got to have it but I want to tell you something John Mackey that co-ceo whole
something John Mackey that co-ceo whole
something John Mackey that co-ceo whole food said he said look my body needs to
food said he said look my body needs to
food said he said look my body needs to breathe oxygen to survive but that
breathe oxygen to survive but that
breathe oxygen to survive but that doesn’t mean the purpose of what my life
doesn’t mean the purpose of what my life
doesn’t mean the purpose of what my life is to breathe oxygen similarly my
is to breathe oxygen similarly my
is to breathe oxygen similarly my company needs profits to survive but
company needs profits to survive but
company needs profits to survive but that doesn’t mean the purpose of my
that doesn’t mean the purpose of my
that doesn’t mean the purpose of my company is to create profits so this
company is to create profits so this
company is to create profits so this idea that we’re talking about this is
idea that we’re talking about this is
idea that we’re talking about this is called conscious capitalism it was put
called conscious capitalism it was put
called conscious capitalism it was put forth in a book by Raj Sisodia an author
forth in a book by Raj Sisodia an author
forth in a book by Raj Sisodia an author and professor and John Mackey from Whole
and professor and John Mackey from Whole
and professor and John Mackey from Whole Foods and they say a conscious
Foods and they say a conscious
Foods and they say a conscious capitalism company that’s tough to say
capitalism company that’s tough to say
capitalism company that’s tough to say has four principles one a conscious
has four principles one a conscious
has four principles one a conscious culture two conscious leadership three
culture two conscious leadership three
culture two conscious leadership three stakeholder interdependence and for a
stakeholder interdependence and for a
stakeholder interdependence and for a higher purpose so I want to talk to
higher purpose so I want to talk to
higher purpose so I want to talk to about my company’s higher purpose
about my company’s higher purpose
about my company’s higher purpose my company we have declared the in the
my company we have declared the in the
my company we have declared the in the community is a stakeholder that’s our
community is a stakeholder that’s our
community is a stakeholder that’s our primary stakeholder is the community and
primary stakeholder is the community and
primary stakeholder is the community and what we say is we are changing the
what we say is we are changing the
what we say is we are changing the community we are changing the community
community we are changing the community
community we are changing the community by we’re teaching executives how to
by we’re teaching executives how to
by we’re teaching executives how to harness the power design to engage their
harness the power design to engage their
harness the power design to engage their workers to be more competitive we are
workers to be more competitive we are
workers to be more competitive we are changing the community by building
changing the community by building
changing the community by building healthcare environments that promote
healthcare environments that promote
healthcare environments that promote healing for the sick and safety for
healing for the sick and safety for
healing for the sick and safety for caregivers that’s changing the community
caregivers that’s changing the community
caregivers that’s changing the community we’re changing the community by
we’re changing the community by
we’re changing the community by designing schools that inspire students
designing schools that inspire students
designing schools that inspire students to achieve better learning outcomes
to achieve better learning outcomes
to achieve better learning outcomes we’re creating value for shareholders
we’re creating value for shareholders
we’re creating value for shareholders and taxpayers and students and patients
and taxpayers and students and patients
and taxpayers and students and patients by decreasing the expenses and
by decreasing the expenses and
by decreasing the expenses and increasing productivity of corporations
increasing productivity of corporations
increasing productivity of corporations governments schools and hospitals and
governments schools and hospitals and
governments schools and hospitals and we’re changing the community by
we’re changing the community by
we’re changing the community by establishing ourselves as an example for
establishing ourselves as an example for
establishing ourselves as an example for other companies and we’re doing it with
other companies and we’re doing it with
other companies and we’re doing it with style and humor and compassion and
style and humor and compassion and
style and humor and compassion and integrity and respect that’s the purpose
integrity and respect that’s the purpose
integrity and respect that’s the purpose of our company and everyone who comes to
of our company and everyone who comes to
of our company and everyone who comes to work every day 155 people they
work every day 155 people they
work every day 155 people they understand their role what they’re doing
understand their role what they’re doing
understand their role what they’re doing and how they are supporting our vision
and how they are supporting our vision
and how they are supporting our vision our purpose to change the community
our purpose to change the community
our purpose to change the community whether you’re working in the warehouse
whether you’re working in the warehouse
whether you’re working in the warehouse answering the phones an accounting clerk
answering the phones an accounting clerk
answering the phones an accounting clerk sales project management it doesn’t
sales project management it doesn’t
sales project management it doesn’t matter you understand your role to play
matter you understand your role to play
matter you understand your role to play and how you change the community what
and how you change the community what
and how you change the community what happens when you have a noble higher
happens when you have a noble higher
happens when you have a noble higher purpose like this people it unleashes
purpose like this people it unleashes
purpose like this people it unleashes this creative spirit in people and they
this creative spirit in people and they
this creative spirit in people and they get excited and there’s energy in it’s
get excited and there’s energy in it’s
get excited and there’s energy in it’s electric and the company becomes a
electric and the company becomes a
electric and the company becomes a vehicle for people to pursue their own
vehicle for people to pursue their own
vehicle for people to pursue their own aspirations I’ve got two short examples
aspirations I’ve got two short examples
aspirations I’ve got two short examples I got a lot I’ll give you two one of our
I got a lot I’ll give you two one of our
I got a lot I’ll give you two one of our employees in Tucson notice that there
employees in Tucson notice that there
employees in Tucson notice that there are no foster clothing banks in southern
are no foster clothing banks in southern
are no foster clothing banks in southern Arizona Phoenix has four Tucson has none
Arizona Phoenix has four Tucson has none
Arizona Phoenix has four Tucson has none and she said why don’t we become the
and she said why don’t we become the
and she said why don’t we become the foster clothing bank now look we’re in
foster clothing bank now look we’re in
foster clothing bank now look we’re in the office furniture business but those
the office furniture business but those
the office furniture business but those are just the widgets to us just the
are just the widgets to us just the
are just the widgets to us just the office furniture is just the wig
office furniture is just the wig
office furniture is just the wig cubicles and desks and chairs and files
cubicles and desks and chairs and files
cubicles and desks and chairs and files that’s the widgets our purpose is to
that’s the widgets our purpose is to
that’s the widgets our purpose is to change the community and so when she
change the community and so when she
change the community and so when she came and said as it made perfect sense
came and said as it made perfect sense
came and said as it made perfect sense and I’m happy to say since 2008 we have
and I’m happy to say since 2008 we have
and I’m happy to say since 2008 we have clothed over 7,000 foster children in
clothed over 7,000 foster children in
clothed over 7,000 foster children in southern Arizona that’s changed oh
southern Arizona that’s changed oh
southern Arizona that’s changed oh thanks that’s changing the community
thanks that’s changing the community
thanks that’s changing the community another employee came to me and said you
another employee came to me and said you
another employee came to me and said you know every time we go out and we deliver
know every time we go out and we deliver
know every time we go out and we deliver furniture the customer says to us we’ll
furniture the customer says to us we’ll
furniture the customer says to us we’ll take this old furniture and take and
take this old furniture and take and
take this old furniture and take and just get it out of here and the industry
just get it out of here and the industry
just get it out of here and the industry practice in our business is that you
practice in our business is that you
practice in our business is that you take that you just sell it to somebody
take that you just sell it to somebody
take that you just sell it to somebody else
else
else right you know we haven’t spent any
right you know we haven’t spent any
right you know we haven’t spent any money on it you just saw profit if the
money on it you just saw profit if the
money on it you just saw profit if the purpose for our company were to maximize
purpose for our company were to maximize
purpose for our company were to maximize shareholder wealth that’s a hundred
shareholder wealth that’s a hundred
shareholder wealth that’s a hundred percent profit there this is exactly
percent profit there this is exactly
percent profit there this is exactly what you do but that’s not the purpose
what you do but that’s not the purpose
what you do but that’s not the purpose is it purpose is to change the community
is it purpose is to change the community
is it purpose is to change the community so one employee said let’s take that
so one employee said let’s take that
so one employee said let’s take that furniture and let’s redeploy it to
furniture and let’s redeploy it to
furniture and let’s redeploy it to nonprofits that need it so they don’t
nonprofits that need it so they don’t
nonprofits that need it so they don’t have to spend money on furniture they
have to spend money on furniture they
have to spend money on furniture they can spend money on their own purpose and
can spend money on their own purpose and
can spend money on their own purpose and in the last eight years we have
in the last eight years we have
in the last eight years we have repurposed millions of dollars of
repurposed millions of dollars of
repurposed millions of dollars of furniture to over a hundred nonprofits
furniture to over a hundred nonprofits
furniture to over a hundred nonprofits in the valley that’s changing the
in the valley that’s changing the
in the valley that’s changing the community so thank you so I’m urging you
community so thank you so I’m urging you
community so thank you so I’m urging you to understand your place in history
to understand your place in history
to understand your place in history capitalism is changing right in front of
capitalism is changing right in front of
capitalism is changing right in front of your eyes think of it this way it’s
your eyes think of it this way it’s
your eyes think of it this way it’s being emancipated
being emancipated
being emancipated emancipated from this singular purpose
emancipated from this singular purpose
emancipated from this singular purpose of maximizing shareholder value and it’s
of maximizing shareholder value and it’s
of maximizing shareholder value and it’s free now to to conquer whatever societal
free now to to conquer whatever societal
free now to to conquer whatever societal problem the nastiest gnarliest hairiest
problem the nastiest gnarliest hairiest
problem the nastiest gnarliest hairiest thorniest problems that we’ve got just
thorniest problems that we’ve got just
thorniest problems that we’ve got just like poverty capitalism is liberated to
like poverty capitalism is liberated to
like poverty capitalism is liberated to go after so what is it you’re interested
go after so what is it you’re interested
go after so what is it you’re interested in is it climate change is it income
in is it climate change is it income
in is it climate change is it income inequality is it the refugee crisis what
inequality is it the refugee crisis what
inequality is it the refugee crisis what I’m telling you is get past the widgets
I’m telling you is get past the widgets
I’m telling you is get past the widgets declare your purpose declare your
declare your purpose declare your
declare your purpose declare your stakeholders and you can use the power
stakeholders and you can use the power
stakeholders and you can use the power of capitalism to change the world thank
of capitalism to change the world thank
of capitalism to change the world thank you very much
you very much
you very much [Applause]
”
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