You may have seen the news that KickStarter is becoming a benefit corporation. I said most of what I wanted to say on the topic a few months ago, but congratulations to Kickstarter’s management for making a decision that is somehow both courageous and remarkably obvious. Courageous because I am sure many smart people around them told them they couldn’t or shouldn’t do it. Obvious because the decision is consistent with everything I have ever heard them say about the kind of company they are building. It will be interesting to compare Kickstarter to Etsy over the coming years: two companies with seemingly genuine commitments to various constituencies that have chosen different paths. One bit of trite advice for entrepreneurs: nothing gives you better leverage to defend the social mission of your business than majority ownership and positive cash flow.
That’s all I wanted to say today. Apologies again for not blogging more lately. I have flushed a few posts lately because they were heavy on complaint and light on solution. That’s not how I endeavor to roll.
Hi everybody. Hope you had a great summer, mine was fantastic. As a result of being on hiatus for so long, I have a backlog of topics that I’ll be running through in the next few weeks. Some may not be quite as of the moment as you have come to expect from such an august publication. Remember when Deval Patrick joined Bain Capital to work on impact investments? Or when Google held that conference on Effective Altruism? Or when the Rikers SIB didn’t pay out? Do you remember thinking, “I wonder what the world’s only blog offering profanity-laden advice about impact investing to the subset of foundations and high net worth individuals who are not put off by the aforementioned profanity thinks about this news of the day?” Well, better late than never.
I’ll definitely be covering pay-for-success, effective altruism, RCTs and DCTs in the next few weeks. Email me if you have other ideas. Now, let’s get to work.
Patrick Maloney lives in Portland, OR where he helps nice people working on cool stuff. He tries to limit his blogging to things about which he knows something.