Throughout my life I have been greatly helped. In 1957, when I was 11 years old, my family and I left Egypt as refugees in the wake of the Suez crisis. We were made welcome in the U.K., where my education at school and at the University of Oxford was paid for by the government. I was then awarded a Henry Fellowship, which paid for my education at Harvard Business School and paved the way to my successful career as an entrepreneur and investor. My background drives me to help people in need.
In the early 1970s, as one of the founders of venture capital, I helped to fund entrepreneurs and spur the tech revolution. I was motivated by a desire to reduce high unemployment and improve lives. I am fortunate today, once again, to play a leading role in another revolution, the impact revolution, to massively improve our society and planet. What I’ve learned is that two attributes unite all successful revolutions: necessity and timing.
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The theory of capitalism put forward by famed economist Adam Smith, relies on enlightened self-interest to improve society. The fact that this system is driven solely by the search for profit has, however, made it self-destructive. While it has brought about impressive economic growth, it is now creating social and climate-related consequences that have become too big for governments and society to handle.
Read more: How to Invest in Companies That Are Actually Helping the Environment
That’s why capitalism is primed for the impact revolution. Our economic system needs to go beyond generating profit alone to generating improvement for people and the planet as well. This transition is being driven by three unstoppable forces.
Values are now essential in business
The first force is a massive change in the values of consumers and talent, driving them away from harmful companies and brands. The brightest minds want to work for businesses that create solutions to the big challenges we face. Investors have…
Source : time
