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” “In announcing the arrival of “the ethical consumer,” Time magazine noted: “We are starting to put our money where our ideals are.” ” If companies want to succeed in this ethical age, they had better live up to those ideals.”
Right now, yesterday's organizations — from corporations to Congress — have a gaping, yawning disclosure gap: the how, what, why, how and when of disclosure simply isn't good enough for markets and communities to be able to allocate and utilize resources productively or efficiently.
Today Uber is no startup, with 11,000 employees, not including its drivers, and a 2017 market value at IPO that is estimated as $28–$70 billion. As my colleague Ian Ziskin has noted, an entrepreneurial, agile, and performance-driven culture is not a substitute for an ethical, courageous, and people-friendly culture.
Before the IPO in 1999, partners of Goldman Sachs owned equity in a private partnership. The result was an intense focus on risk, including risks related to ethical standards. But leverage limits may have unintended consequences for capital markets’ competitiveness, innovation, growth, and efficiency.
So far this year, the stock market has been anything but stable. I joined HubSpot, an inbound marketing software company, as the fourth employee and first salesperson in 2007. Seven years after that infamous day in 2008, we are a post-IPO company with a market cap of over $1 billion dollars. A better work ethic.
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