Be good – in more ways than one
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This week we’re quoting Salomon Aiach (Co-Founder at Origins Fund)
What Aiach said:
“We strive to support game-changing companies that disrupt their respective industries and also make a difference in people's lives.”
Tech does this a lot – and it’s worth celebrating
Because it’s such a huge part of our lives, and has changed so many aspects of human society, technology gets a lot of bad press. Often, that’s justified – it’s important to talk about the things we don’t understand about tech, and to drive a collaborative approach to creating better, less harmful, and more positive technological solutions in all areas of industry and society.
But tech deserves a lot of good press too.
Because tech that can generate serious profit can also generate a powerfully positive human impact. And that’s kind of amazing.
Salomon was talking about his approach to investments this year
He’s seeking disruptive companies that also reach into customers’ lives and do something good.
And we love this sentiment: because tech can be good in more ways than one. It can make a lot of money, and it can make people’s lives better.
Those two things aren’t mutually exclusive
That’s the problem, right? There’s this broad public understanding that something that makes a lot of money must be bad. But if that understanding could shift, we could move away from such a polarised idea of good/bad and embrace the technologies and the startups that are having a positive impact – without turning away from them (or turning against them) when they become highly successful. And then we could really embed those positive influences into society.
Disruptive startups with the potential to lead markets can also be really good for their customers and communities.
It’s not always easy to align profitability with impact
In business, becoming profitable is crucial – and with lower overheads, it’s one of the reasons agile startups are often better at weaving a positive environmental and social impact into their operations.
But even in big tech, there are positive signs that tech companies are working to become a force for good in the world.
In the 2021 Capital as a Force for Good report, for example, tech compared favourably to other industries in terms of engagement with ESG practices and policies, and big tech appears to excel in corporate sustainability initiatives too.
This is, at least in part, because tech companies of all sizes are getting really good at understanding their audience. They know their users care about sustainability, human rights, inclusion and well-being, so they’re investing in those areas and putting budgets behind their promises.
More investors are backing social good
Like Aiach, a growing number of tech investors are seeking to add positive-impact startups to their portfolios – because they know those startups can also drive profits.
It’s perfectly possible for tech to be good for business and good for humanity. And at LEAP, we’re glad to be a part of the critical conversations that allow that to happen – increasing our understanding of the interactions between technology and people, and working towards products and services that help people live the lives they want to live.
Are you part of the conversation?
Have an idea for a topic you'd like us to cover? We're eager to hear it! Drop us a message and share your thoughts.
Catch you next week,
Richard McKeon
Group Marketing Director
Mark your calendars for 📅 10-13 February 2025.