In this provocative book, Michael O'Leary and Warren Valdmanis take us inside the fight to save capitalism from itself. Corporations are broken, reflecting no purpose deeper than profit. But the tools we are relying on to fix them--corporate social responsibility, divestment, impact investing, and government control--risk making our problems worse.
With lively storytelling and careful analysis, O'Leary and Valdmanis cut through the tired dogma of current economic thinking to reveal a hopeful truth: if we can make our corporations accountable to a deeper purpose, we can make capitalism both prosperous and good.
What happens when the sustainability-driven CEO of Unilever takes on the efficiency-obsessed Warren Buffett? Does Kellogg's--a company founded to serve a healthy breakfast--have a sacred duty to sell sugar cereal if that's what maximizes profit? Government has tried for decades to curb CEO pay but failed--why? Can Harvard students force the university to divest from oil and gas? Does it even matter if they do?
O'Leary and Valdmanis, two iconoclastic investors, take us on a fast-paced insider's journey that will change the way we look at corporations. Likely to spark controversy among cynics and dreamers alike, this book is essential reading for anyone with a stake in reforming capitalism--which means all of us.
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About the Author
Michael O'Leary was on the founding team of Bain Capital Double Impact after working for Bain Capital Private Equity in Boston and Hong Kong since 2012. In that time, he analyzed or invested in dozens of technology, consumer, and industrial companies across three continents. Michael received an MBA from the Stanford Graduate School of Business and an AB magna cum laude in philosophy from Harvard College.
Warren Valdmanis leads a social impact fund that invests in the American workforce. He was previously a managing director with Bain Capital's social impact fund, and before that invested with Bain Capital's private equity team for over a decade. He grew up in Canada and has lived and worked in Australia, Chile, France, Hong Kong, Japan, South Africa, and the United States. Warren studied economics at Dartmouth College and earned his MBA from Harvard Business School. He lives with his wife, Kristin, and four children in Portland, Maine.