Laurenne Powell Jobs Advocates for Socially Responsible EntrepreneursMarch 10, 2015 - Author: steph
At a talk she gave at Stanford University, Laurene Powell recently discussed the benefits of getting involved in start-ups that focus on doing social good, rather than on making profit as the core motivation. While she said that this often comes at a price to one’s income, this opportunity cost is superseded by the sense of satisfaction one gets from helping others.
Asked about the possibility of financial support, Powell recommended that wages be supplemented by private venture funds that are interested in ramping up their social responsibility by setting aside a small portion of their income for this purpose. Investors, in general, are increasingly becoming more interested in values-related investing, meaning that their criteria for social responsibility is becoming more stringent. This development is expected to have a positive impact on corporate behavior over the long term.
Powell also mentioned her post-graduate experience working at Goldman Sachs, which was somewhat difficult for a woman at the time given that it was largely a male dominated environment. Gender equality was another topic, addressed as a particularly big challenge in the tech world where women are typically paid less and have more difficulty getting hired. For Powell Jobs, this was less of a problem given her strong education and a family with three brothers. Ultimately, the allocation of capital for the absolving of such social problems will have a positive impact on the world.