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Cato Daily Podcast
Social Movements and Profit Opportunities
Jun 1, 2024
Economist Nathan Goodman delves into the profit opportunities stemming from serving the underserved, drawing insights from historical examples like the Stonewall riots. The discussion explores the relationship between social and commercial entrepreneurship, the impact of activism on companies, and the benefits of reaching out to marginalized communities for both financial gain and social impact.
12:31
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Quick takeaways
- Entrepreneurs can find profits by serving underserved populations, fostering acceptance and economic growth.
- Profit-seeking initiatives can unintentionally spark social movements, demonstrating the interplay between profit motives and activism.
Deep dives
Entrepreneurship and Profit Opportunities
Entrepreneurship involves identifying profit opportunities, whether for monetary gain or serving marginalized communities. This dynamic interplay between commercial and social entrepreneurship creates spaces where identities and grievances can align, fostering mutual benefits. Examples like Ted Noy's support for Cambodian families through donut shops highlight this dual-purpose entrepreneurial approach. This interconnectedness challenges the notion of separating profit motives from social causes, emphasizing the fluidity between profit-seeking and social impact.
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Discover
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