Kickstarter Co-Founder Shows Why It's Time to Re-Evaluate the Economy | Yancey Strickler

Rethinking Economic Value with Yancey Strickler: A New Paradigm for Business and Society

In an enlightening conversation, Yancey Strickler, co-founder and former CEO of Kickstarter, challenges traditional economic paradigms and introduces a visionary concept called 'Bentoism'. This summary outlines Strickler’s thoughts on reshaping how we value success and impact in the business world and society at large.

Core Concepts and Philosophies

Strickler criticizes the prevailing focus on financial maximization, advocating for a broader, more holistic approach to value creation. He introduces 'Bentoism', inspired by the Japanese bento box, which compartmentalizes nourishment into a balanced meal, proposing a similar framework for decision-making that balances personal needs, community needs, present involvement, and future impact.

Practical Strategies and Advice

• Re-evaluate Value Metrics: Businesses should expand their success metrics beyond financial gains to include social and environmental impacts.
• Stakeholder Involvement: Engage various stakeholders, not just shareholders, in the decision-making process to foster a more inclusive economy.
• Long-term Thinking: Emphasize sustainability and long-term benefits over short-term gains to build enduring value and resilience.

Supporting Evidence

Strickler points to the historical shift from stakeholder capitalism to a shareholder-centric model in the late 20th century as a key factor in today’s economic myopia. He suggests that expanding our understanding of value can lead to more sustainable and equitable business practices.

Personal Application

Strickler shares insights from his experience at Kickstarter, which was restructured as a public benefit corporation, balancing profit motives with societal benefits. This model enabled Kickstarter to pursue its mission without the relentless pressure to maximize shareholder returns.

Recommendations for Tools and Techniques

• Adopt Public Benefit Structures: Consider organizing as a public benefit corporation to legally embed wider social and environmental goals into corporate governance.
• Bentoism Workshops: Utilize workshops and tools to implement Bentoism in personal and organizational decision-making processes.
• Engagement Platforms: Use platforms that facilitate stakeholder engagement and transparent decision-making to align various interests effectively.

Through these innovations, Strickler envisions a new economic system that values humanity as much as profits, urging businesses and individuals to adopt a more integrated approach to value creation.