The Rise of Conscious Capitalism

In the following video, Motley Fool analyst Brendan Byrnes sits down with Maynard Webb, author of Rebooting Work: Transform How You Work in the Age of Entrepreneurship.

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Brendan Byrnes: So recently we've seen this idea of conscious capitalism take off. John Mackey the co-CEO of Whole Foods (NASDAQ: WFM  ) co-wrote a book about it recently. It's kind of more -- you have to have profits obviously but also purpose for employees, also all stakeholders; companies like Southwest Airlines (NYSE: LUV  ) , Nordstrom (NYSE: JWN  ) , Google (NASDAQ: GOOGL  ) are starting to practice this. What do you think, how do you think you mesh these ideas in the book with a conscious capitalism, more purpose than just profit? How does that work?

Maynard Webb: Oh, I think that when you can have all of your team working for a higher purpose you do better work. At eBay (NASDAQ: EBAY  ) we weren't just selling goods out of people's garage in the early days, we were helping create a world of entrepreneurship where people could change the way they worked and lived and at LiveOps we weren't just helping people make a little bit of money serving call centers, we were showing people the future of work.

So the more you're anchored on a bigger purpose I actually believe the better work you'll do.

Brendan: All right well Maynard Webb the author of Rebooting Work, thank you so much for your time today.

Maynard: Thank you Brendan, my pleasure!


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