Quote of the day:
famously declared that “business was originated to produce happiness, not to pile up millions.”
“When we’re acquiring companies, one of the things I look at very closely is ‘Are the founders of a company missionaries or mercenaries?’ ” Jeff Bezos told me several months ago, before revealing the answer with his famous braying laugh. “It’s actually very easy to tell—missionaries make better products and services.” They also engender the one authentic trait that’s ultimately the most profitable: trust. That word, says Bezos, “is what allows you to expand the business.
But the situation is actually far worse than yawning income disparity. Americans have historically viewed the superrich as heroes, not villains, for a simple reason: “We all thought we could be like them,” Jones says. It’s the accelerating lack of upward mobility that’s fueling much of this populist anger. For all the anecdotal success stories, if you’re born in the wrong Zip code, to the wrong parents, the road to The Forbes 400 has never looked longer or narrower.
Pfund actually counts women leaders before investing in a firm—almost two thirds of the companies in her funds have a woman at the CFO level or higher. She also pushes her portfolio to spread the opportunity, through profit-sharing plans, living-wage commitments and encouragement to hire in underserved areas.
Traditionally, that means philanthropy, an aspect of extreme success that no longer feels optional, albeit one that still engenders cynicism. Says Gates: “The attack that ‘Why should you even have a say in setting the agenda?’ That has a certain resonance to it.”
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