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You're asking a question about how your company should continue on in its legacy when you haven't even started it yet. Just get started. Over the span of your
by AdamSC1 10y ago
You're asking a question about how your company should continue on in its legacy when you haven't even started it yet.
Just get started. Over the span of your working lifetime the approaches to this are going to change a great deal, and you can always change your approach later on.
But, at the end of the day start a private company so you eliminate the concern of being pushed towards maximizing profit. If later you need to take on investment, take on small minority investments from groups that truly believe in the same goals you do.
If the company is mostly kept in your control, then when you decide to retire you can appoint a replacement who truly holds the same values you do and allow it to continue in that vein.
Doing good and making money are not mutually exclusive. The problem becomes when companies aggressively try to maximize their returns by sacrificing their product or their users. A modern corporation is kind of pushed this way especially after IPOs or in situations of minority control - but, if the individual at the helm and those invested in the product truly believe in the mission then it is easy to meet the standards of fiduciary duty (https://www.law.cornell.edu/wex/fiduciary_duty https://www.law.cornell.edu/wex/fiduciary_duty) whilst remaining true to a social good mission.
I'm fortunate to work at a company where members of our team strongly believe in our mission, and so does our CEO and investors. I think if that runs through the veins of your company it will be fine long term. You just need to ask yourself, would this person I am hiring sell out value X for $Y - as long as the answer is no then you're good to go.
So:
Step 1: Actually start your business. Stop worrying and dive in.
Step 2: Do social good, start to make some money.
Step 3: Hire people with as much belief in the mission as you have.
Step 4: Retain as much private control of the company as possible, or seek investors who believe deeply in your mission.
Step 5: Do more social good - because we need more of that in the world!
- Vivtek 10y agoBut what would the world be without carts before horses? No, but seriously - this isn't (entirely) a delaying tactic before diving in, this is me actually getting to the point where I will soon be diving in, and wanting to feel more competent about what it means to have a company that's more than just me. I've put a lot of thought into how to solve my technical problems, because that's what I do - but soon, like within three years, I'm going to be in the position to make decisions that will affect human beings who aren't my family. I'd like to think I have the competence to do that right. But I don't. Fortunately, I still have some technical problems to work out before I can make a credible start on the business per se! So I can kick that can down the road a little, and hopefully read and think some more about these things that worry me.