The Conscious Capitalists

Do you think about how AI is going to shape our future in business?Victor Cho might have the answer! As a longtime member of the Conscious Capitalist community, he is a CEO/Advisor and Board Member (best known for his work with Emovid) with a deep passion for building online customers experiences that truly delight (Net Promoter 80+) and define markets. Victor's philosophy of considering society as a crucial fourth stakeholder in business, alongside employees, customers, and shareholder is grounded in his emphasis on transperancy, empathy, diversity and integrity.In this episode, he explains his operational framework for maximizing positive societal impacts, minimizing negative ones, and fostering transparency as well as the transformative potential of AI in business.**If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience.Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts.For transcripts and show notes, please go to: https://www.theconsciouscapitalists.comThis show is presented by Conscious Capitalism, Inc. (https://www.consciouscapitalism.org/) and is produced by Rainbow Creative (https://www.rainbowcreative.co/) with Matthew Jones as Executive Producer, Rithu Jagannath as Lead Producer, and Nathan Wheatley as Editor.Thank you for your support!- Timothy & RajTime Stamps00:00 Welcome to The Conscious Capitalists00:23 Introducing Victor Cho01:44 Victor's Journey to the Fourth Stakeholder Philosophy04:05 Operationalizing Societal Impact06:09 Frameworks for Positive Business Impact14:15 The Role of Data and Collaboration19:29 AI and Social Responsibility22:42 AI's Impact on Business Models23:16 Cost Reduction and Efficiency24:15 Intelligence as a Service25:20 AI in Asynchronous Video Communication27:23 AI's Role in Conscious Capitalism31:15 The Future of Work with AI36:54 Leadership in the Age of AI38:14 The Importance of Suppliers and Authenticity42:03 Conclusion and Further Resources

Have you ever thought about how you can solve the world's problems with your ideas? Dr. Jay Jakub believes that businesses can better position itself to solve the bigger problem; whether it be social, or environmental. He recounts the origins of the Economics of Mutuality (EOM) from his time as  Senior Director for External Research at Mars, Inc., and how he learned first-hand that businesses can shift from profit-centric models to purpose-driven practices that leverage social, human, and natural capitals.Join us as we explore the evolving landscape of stakeholder vs. shareholder capitalism, the challenges and opportunities of artificial intelligence (AI) and the vital role of business schools in fostering a broader, purpose-driven curriculum to drive folks to embrace a more conscious approach to business.**If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience.Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts.For transcripts and show notes, please go to: https://www.theconsciouscapitalists.comThis show is presented by Conscious Capitalism, Inc. (https://www.consciouscapitalism.org/) and is produced by Rainbow Creative (https://www.rainbowcreative.co/) with Matthew Jones as Executive Producer, Rithu Jagannath as Lead Producer, and Nathan Wheatley as Editor.Thank you for your support!- Timothy & RajTime Stamps00:00 Merging Companies for Mutual Transformation01:12 Meet Dr. Jay Jakub: A Leader in Economics of Mutuality02:40 Understanding Economics of Mutuality04:07 Core Elements of Economics of Mutuality07:59 The Origins of Economics of Mutuality at Mars10:50 Implementing Stakeholder Capitalism18:55 Case Study: Novo Nordisk's Purpose Transformation23:08 Mars' Application of Economics of Mutuality26:29 Purpose-Driven Business Strategies29:48 Healing Business Through Mutual Value Creation32:12 Sponsor Message: 2024 Conscious Capitalism CEO Summit33:02 Personal Journeys and Faith34:32 Transition from Government to Business35:35 Advice for CEOs on Conscious Capitalism38:10 Challenges of Short-Term Market Focus43:04 Private Equity and Purpose-Driven Investments46:16 Navigating ESG and Compliance49:48 Stakeholder Orientation and Decision-Making52:33 Business Education and Conscious Capitalism01:02:29 Impact of AI on Economics of Mutuality01:05:24 Conclusion and Final Thoughts

From Olympian to a backdoor entry into private equity, Ryan Heckman shares his story as a blue-collar PE executive aiming to elevate the industry. He began his career in private equity and, after nearly 20 years, transitioned to leading a successful startup. He later sold this business to a private equity firm.Now, as a co-founder of the groundbreaking private equity firm Rallyday, Ryan describes how they began by identifying everything wrong with the private equity world and then developing innovative approaches to address these issues. At Rallyday, they focus on being business builders rather than just investors. They view founders as their core customers, providing them with the love and support they need to build thriving businesses for the long term.Meet Ryan Heckman, a conscious leader who advocates for “Monster" leaders who are aggressively humble.**If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience.Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts.For transcripts and show notes, please go to: https://www.theconsciouscapitalists.comThis show is presented by Conscious Capitalism, Inc. (https://www.consciouscapitalism.org/) and is produced by Rainbow Creative (https://www.rainbowcreative.co/) with Matthew Jones as Executive Producer, Rithu Jagannath as Lead Producer, and Nathan Wheatley as Editor.Thank you for your support!- Timothy & RajTime Stamps00:44 Introduction to the Conscious Capitalists01:03 Meet Ryan Heckman: A Journey in Private Equity03:02 From Athlete to Private Equity Executive05:33 Building and Selling a Business08:06 Founding Rally Day Partners09:27 Innovations in Private Equity15:46 Employee Ownership and Development20:18 Challenges and Opportunities in Private Equity25:15 Exiting Investments with Purpose27:31 Preparing for the Sale: Early Work and Employee Retention27:54 Ensuring Continuity of Purpose and Values Post-Sale29:24 Sponsorship Announcement: 2024 Conscious Capitalism CEO Summit30:14 Redefining Greatness: From Good to Great to Goodness32:16 The Importance of Courage in Leadership32:56 Lessons from an Olympic Athlete: Embracing Failure and Thriving36:57 The Concept of Thriving in Business and Community39:33 Stewardship and the Infinite Game42:11 Monster Leaders and Aggressive Humility47:08 Conscious Leadership and Community Development52:54 Closing Remarks and Gratitude

Profit is essential for business, but what happens when it comes at the expense of society? Join us as we dive into this pressing issue with Chris Marquis, author of "The Profiteers: How Business Privatizes Profit and Socializes Costs." Marquis unpacks how companies often "socialize their costs" through harmful side effects and externalities, leaving society to pick up the tab.We explore the dark side of corporate profit-making, with the opioid crisis and Purdue Pharma serving as prime examples of how businesses can hide their negative impacts. Imagine a car's exhaust pipe feeding directly into the passenger compartment—that's the stark reality of pollution externalities affecting everyone, not just the polluters.But instead of pointing fingers, Marquis advocates for a transformation of our systems and markets. He emphasizes the need to evolve our practices to account for the true and total costs of doing business while preserving the best aspects of our market-based capitalist system. Tune in to discover how current business models contribute to environmental degradation, plastic pollution, biodiversity loss, and extreme social inequality, and why these practices are unsustainable in the long run. With Chris Marquis, we explore innovative ways to capture conscious businesses' true costs and profits, ensuring that profit remains beneficial and ethical.**If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience.Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts.For transcripts and show notes, please go to: https://www.theconsciouscapitalists.comThis show is presented by Conscious Capitalism, Inc. (https://www.consciouscapitalism.org/) and is produced by Rainbow Creative (https://www.rainbowcreative.co/) with Matthew Jones as Executive Producer, Rithu Jagannath as Lead Producer, and Nathan Wheatley as Editor.Thank you for your support!- Timothy & RajTime Stamps00:00 Introduction to Profiteering and Externalities00:44 Welcome to the Conscious Capitalists Podcast01:22 Introducing Special Guest: Chris Marcus02:33 Critiquing Capitalism and Celebrating Its Potential04:27 The Legacy of Jack Welch and Shareholder Capitalism09:20 The Sociological Perspective on Business24:09 The Role of Business Schools in System Change33:31 The Urgency of Climate Action and Systemic Change36:28 Exploring Chinese Business and Authoritarianism42:08 Defining the Responsibility of Business43:48 The Concept of Regenerative Business Models48:38 Chris's Personal Journey and Pittsburgh's Transformation50:37 Conclusion and Final Thoughts

Creating an inspiring company selling blankets? You bet!Bob Dalton, the CEO of Sackcloth and Ashes, embarked on a mission with a unique one-to-one business model: for every blanket sold, another is donated to a homeless shelter. His passion and creativity lead to innovative production methods, collaboration with Indigenous designers, and active engagement with grassroots movements across the country.One of his innovations is rethinking packaging - using it to inspire local grassroots connections and pay it forward by reusing the blanket boxes to donate items to homeless shelters.Inspiring and creative, Bob Dalton is an out-of-the-box entrepreneur. He will also be a speaker at The Conscious Capitalism CEO summit in October 2024.**If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience.Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts.For transcripts and show notes, please go to: https://www.theconsciouscapitalists.comThis show is presented by Conscious Capitalism, Inc. (https://www.consciouscapitalism.org/) and is produced by Rainbow Creative (https://www.rainbowcreative.co/) with Matthew Jones as Executive Producer, Rithu Jagannath as Lead Producer, and Nathan Wheatley as Editor.Thank you for your support!- Timothy & RajTime Stamps00:00 Introduction and Personal Transformation00:43 Welcome to the Conscious Capitalists01:01 Introducing Bob Dalton and Sackcloth Ashes02:08 The Inspiration Behind Sackcloth Ashes04:14 Building the Business from Scratch06:11 The Meaning Behind the Name08:47 Impact and Redemption10:17 Marketing and Growth Strategies16:17 Empowering Local Communities32:23 Leadership and Future Vision

In this episode, we welcome John Mackey, the visionary co-founder of Whole Foods Market and co-author of Conscious Capitalism. Hear the compelling story of the origins, challenges, and growth of Whole Foods from co-founder and long-time CEO John Mackey. From 1 store to over 500 stores, John shares important examples and practices of Conscious Capitalism in action at Whole Foods; from aligning values and value through compensation to the lessons learned from unionization efforts.John shares his journey of awakening through the lens of business, discussing the principles of conscious leadership and the significance of servant leadership in his career. The conversation delves deep into the philosophies and practices that have defined John's career, exploring the broader implications of conscious capitalism in today's business world.John also introduces his latest venture, Love.Life started with the sheer hunger to build a culture of prioritizing physical and mental well-being as well as personal growth and healing. Join us for a thought-provoking discussion that offers valuable insights into the transformative power of conscious business practices.**If you enjoy this podcast, would you consider leaving a review on Apple Podcasts or Spotify? It takes only a few seconds and greatly helps us get our podcast out to a wider audience.Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts.For transcripts and show notes, please go to: https://www.theconsciouscapitalists.comThis show is presented by Conscious Capitalism, Inc. (https://www.consciouscapitalism.org/) and is produced by Rainbow Creative (https://www.rainbowcreative.co/) with Matthew Jones as Executive Producer, Rithu Jagannath as Lead Producer, and Nathan Wheatley as Editor.Thank you for your support!- Timothy & Raj

Here the story of Freeman, a family-owned global provider of live event services, through the journey of a third-generation leader in the company. With a legacy of 97 years, Freeman integrates Conscious Capitalism into its business model achieving record results. Carrie Freeman Parsons, the chair of Freemans, shares great examples of their commitment to stakeholder orientation and how they have embedded purpose and values into their culture and aligned it with their strategy and operating model. Carrie gives us an inside perspective on the challenges that Freeman faced due to the COVID pandemic and the company's record recovery to $2.1 billion which underscored the ingrained culture of integrity and empathy within the organization.  Finally, Carrie shares her reflections on navigating leadership as a woman in a male-dominated industry, her advocacy for gender equality, and her work towards a more equitable society. A Podcast by Tec Sounds. ** If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience. Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts. For transcripts and show notes, please go to: https://www.theconsciouscapitalists.com Thank you for your support! Timothy & Raj  

A good business model is the Ferrari engine—people are the fuel that makes it work! 14% CAGR for almost 25 years by caring, looking for goodness and saying thank you.  Hear practical examples of how Barry Wehmiller does it—and at the centre of it, leaders measuring success by the lives they have touched. This approach to leadership and culture that has worked in over a 100 acquisitions- across the globe- a better way of doing business! Join us to hear the inspiring story of Bob Chapman CEO of Barry Wehmiller- WHAT they do is provide the industrial equipment and engineering solutions that  help bring many of life’s daily necessities - toilet tissue and wet wipes, corrugated boxes, cans of soft drinks, bags of dog food, containers of yogurt, pharmaceuticals, envelopes and more - to people across the globe.  But that’s just what they do.  What truly defines them as a business is HOW they do it, and that’s by fostering a caring, trusting, nurturing organizational culture through which people feel safe to express their ideas and share their gifts and talents.  Using the power of business to build a better world. ** If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience. Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts. For transcripts and show notes, please go to: https://www.theconsciouscapitalists.com Thank you for your support! Timothy & Raj

This interview cuts straight to the heart of self-compassion, revealing it as not just a personal virtue but a critical life skill as we have a profound dialogue with Kristin Neff, a pioneering figure in compassion research. Kristin shatters the notion that self-compassion is a luxury, framing it instead as a necessity for anyone striving to thrive in the throes of life's challenges. She presents compelling evidence from her studies, including one that revolutionizes our understanding of how self-compassion can significantly elevate athletic performance, challenging the stoic, grit-your-teeth dogma that pervades our culture. A Podcast by Tec Sounds. ** If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience. Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts. For transcripts and show notes, please go to: https://www.theconsciouscapitalists.com Thank you for your support! Timothy & Raj

A conversation with Sadhguru and John Mackey. Brought to you by Tec Sounds. ** If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience. Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts. For transcripts and show notes, please go to: https://www.theconsciouscapitalists.com Thank you for your support! Timothy & Raj