Julie Hanna, executive chair of micro-lending site Kiva, believes that profit and purpose can coexist in startups. She argues that the old model of capitalism, which prioritises profit above all else, is outdated. Instead, she champions “compassionate capitalism,” where businesses are driven by a mission to make a positive impact in the world, while also being profitable. Hanna cites companies like Google, Tesla, and her own firm Kiva as examples. Kiva has facilitated over $1 billion in microloans in 90 countries, demonstrating the potential for success in this model.
Hanna’s philosophy is rooted in her personal experiences. Born in Egypt, she moved to the US at a young age, where she experienced poverty and discrimination. These experiences shaped her belief in the power of technology to create opportunities and reduce inequality. She sees entrepreneurship as a powerful tool in this regard.
Hanna also highlights the importance of diversity in startups. She believes that having a diverse team leads to better problem-solving and innovation. She encourages companies to actively seek out diverse talent and to create an inclusive environment. Hanna’s vision of compassionate capitalism offers a new model for startups, where profit and purpose go hand in hand.
Go to source article: http://www.wired.co.uk/magazine/archive/2016/06/features/julie-hannah-profit-purpose-startups