⚡Where's Einstein?
Good morning! Thank you to those who filled out yesterday’s form. We’ll be reaching out soon to have a more in depth conversation with how we can share the spoils of our growth with you.
“Our impact companies outperformed”
Techstars discovered for all the companies that went through their accelerators between 2012 and 2018 the impact companies outperformed. The range varied between 6% and 26% in various years during this period.
Our take: When we first introduced the idea of working with social impact companies to various people within our communities, we were often met with eyerolls and comforting words. The perception of social impact carried baggage. People simply thought it was bad business. “You can’t focus on profit and mission. You have to choose.” Hopefully, we’re helping anyone who reads this newsletter see and believe differently. We’d love to hear about your conversations with others about social impact startups or social impact in general. Just reply “Hey, let’s chat impact startups” to this email and we’ll reach out!
Impact companies are coming into the light
In the last decade, four key trends have shown traction:
Technology creating first-time access to previously inaccessible markets;
A fall in the cost of technology enabling the delivery of impact products down-market;
A rise in consumer demand for ethical, sustainable products and business practices;
The rise of global impact threats that, if uncorrected, represent existential business risks to top global corporations and our global economy
For those interested in other entrepreneur opportunities revolving around the global goals, please check out the Good Tech Lab’s latest report: “The Frontiers of Impact Tech.”
How can we produce greater change?
We need to give more people more opportunity. A recent study that was published in 2019 called “Who becomes an inventor in America” looked to answer what causes a child to grow up and become an inventor. You probably guessed it. Skills and money. Skills were necessary, but at the end, the circumstances in which the child grew up were significant to the outcome. Of the highest scoring 5% of students they tracked, those from high-income families were more than twice as likely to become inventors as those at lower incomes.
This shouldn’t be looked at as just a problem for those in low-income communities. This is a whole society problem. We’re all losing out.
If high-ability children from disadvantaged groups would benefit from the same circumstances as the best-off groups, there would be four times as many inventors in the US as there are today.
Now, just imagine the Einsteins we’re losing on a global scale. If you know of anyone working on empowering disadvantaged communities, please let us know!
Climate, a legal right that extends to future generations
Larissa Parker argues for the formal recognition of the rights of future generations, particularly the right to a healthy Earth. It would help build a framework that gives the current generation better legal standing to pursue change.
The problem with today’s governments is accountability. Many have promised to cut emissions and many have failed to keep up with their promises. For the most part, only current generations have legal standing to sue and when they do so, they need to prove the issues they have experienced or are experiencing. This makes fighting against climate change difficult as the effects take decades to manifest. Because the problems aren’t as present and immediate, governments feel little pressure to take strong action.
Here are two relevant cases that support the rights of future generations:
Oposa v Factoran: Philippines Supreme Court accepted a class action filed on behalf of future generations to denounce logging licenses. The court affirmed that natural resources are held in trust for the benefit of present and future generations, and the government was required to protect them.
Pakistan Supreme Court: Though still pending, a seven-year-old girl, represented by her father, filed a petition against the state for violating the constitutional rights of today’s youth and future generations because of its failure to combat climate change.
Our take: Laws don’t change on their own. They usually require a change in societal values. Never before has that shift been louder and firmer than it is now. It’s evidence that our collective voices are important.
Autumn Peltier, a 13-year-old Anishinaabe girl from Wiikwemkoong First Nation in Canada
“Many people don’t think water is alive or has a spirit,” she said, in a speech at the United Nations. “My people believe this to be true... We believe that water is sacred because we are born of water and live in water for nine months... My heart is not for sale and neither is our water or our lands.”
UNGA Events: Check out all the amazing events happening around the UNGA Assembly in New York City! Many of them are public, so if you have time, we definitely recommend checking them out.
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