As entrenched issues such as income inequality slog on – much discussed yet under-addressed in Washington, a new generation of businesses is filling the leadership vacuum by building philanthropy directly into their founding missions. For this innovative breed of companies, giving back is not optional or half-hearted; creating sustainable and measurable impact is as core to their definition of success as a high return to their shareholders.
San Francisco is a particular hotbed of this socially responsible mindset. Many of the world’s leading innovators call the Bay Area home, but their staggering success has come at a cost. As the city now tops the list of most expensive in the country, it’s become exceedingly difficult for the middle class to eke out an existence, and the ranks of the poor and homeless have swelled. This change has warped the relationship that the city’s leading companies have with the community, creating a starkly classist hierarchy of haves and have-nots and fueling bitter resentments.
Fortunately, the innovative culture that has powered such prosperity for this part of the world is also nourishing a determined approach to social change. One of the best examples in action is the Founders Pledge, a program of Full Circle Fund that engages startup founders to pledge at least one-percent of company equity toward positive social change in their communities.
Imagine if, at the moment of its inception, Facebook had committed 1% of its equity towards positive social change. With that one pledge alone, the problem of San Francisco’s homelessness might now be a thing of the past.
The Founders Pledge seeks to catch the Facebooks of the future early on and give them the community and resources they need to do good from the start.
Sourced through Scoop.it from: www.huffingtonpost.com