3 ms·

> an interested billionare who did not want unlimited profits? I'd posit that it's almost impossible to get to the point where you can fund something like that

> an interested billionare who did not want unlimited profits? I'd posit that it's almost impossible to get to the point where you can fund something like that without being singularly focused on getting the most money possible

kevin_thibedeau 4y ago
The problem is that medical necessities are an inelastic demand. That's how rapacious grifters come along and jack up prices 100x knowing that their pray don't have a choice.
iancmceachern 4y ago
It exists, it's just called a non profit.
- _carbyau_ 4y ago
  Thing is, I am happy for a profit, just not a ridiculous one. We don't really have a class of organisations called "Reasonable Profit".
  - justinclift 4y ago
    Isn't that the purpose of public benefit corporations? eg: https://en.wikipedia.org/wiki/Benefit_corporation https://en.wikipedia.org/wiki/Benefit_corporation also: https://www.bcorporation.net https://www.bcorporation.net
    - _carbyau_ 4y ago
      That's cool! The wikipedia article is a bit light on details. To summarise, it seems that by declaring as Public Benefit Corp they can not be so beholden to the shareholders and the Corporation can declare "some other societal mission". No real details on what limits or benefits though. I mean, what is stopping a Public Benefit Corporation declaring a mission for "yacht transport assistance" to be delivered to the selected "needy" and delivered by profits on business as usual? Obvious blatant point I am trying to make but I assume there are further laws and bylaws that usefully try to limit a corporation in that sense. It seems a bit wishyWashy just going from wikipedia but for a HN discussion is well worth pointing out they exist! Thank you!
      - justinclift 4y ago
        No worries. Came across the concept from interaction (positive) with Teachstone (teachstone.com), which is one of these B Corporations. They have a whole write up about their getting certified: https://info.teachstone.com/blog/pioneering-developer-of-early-childhood-assessments-earns-b-corporation-certification https://info.teachstone.com/blog/pioneering-developer-of-ear...
  - iancmceachern 4y ago
    That's the companies covered in the book "small giants - companies that choose to be great instead of big" There aren't many of them, but they are great.

kevin_thibedeau 4y ago

The problem is that medical necessities are an inelastic demand. That's how rapacious grifters come along and jack up prices 100x knowing that their pray don't have a choice.

iancmceachern 4y ago

It exists, it's just called a non profit.

_carbyau_ 4y ago
Thing is, I am happy for a profit, just not a ridiculous one. We don't really have a class of organisations called "Reasonable Profit".
- justinclift 4y ago
  Isn't that the purpose of public benefit corporations? eg: https://en.wikipedia.org/wiki/Benefit_corporation https://en.wikipedia.org/wiki/Benefit_corporation also: https://www.bcorporation.net https://www.bcorporation.net
  - _carbyau_ 4y ago
    That's cool! The wikipedia article is a bit light on details. To summarise, it seems that by declaring as Public Benefit Corp they can not be so beholden to the shareholders and the Corporation can declare "some other societal mission". No real details on what limits or benefits though. I mean, what is stopping a Public Benefit Corporation declaring a mission for "yacht transport assistance" to be delivered to the selected "needy" and delivered by profits on business as usual? Obvious blatant point I am trying to make but I assume there are further laws and bylaws that usefully try to limit a corporation in that sense. It seems a bit wishyWashy just going from wikipedia but for a HN discussion is well worth pointing out they exist! Thank you!
    - justinclift 4y ago
      No worries. Came across the concept from interaction (positive) with Teachstone (teachstone.com), which is one of these B Corporations. They have a whole write up about their getting certified: https://info.teachstone.com/blog/pioneering-developer-of-early-childhood-assessments-earns-b-corporation-certification https://info.teachstone.com/blog/pioneering-developer-of-ear...
- iancmceachern 4y ago
  That's the companies covered in the book "small giants - companies that choose to be great instead of big" There aren't many of them, but they are great.