Rinaldo Brutoco speaks with George Alger about the World Business Academy in Santa Barbara, CA.
The academy, a think tank established in 1985, focuses on solving global problems through the business world.
Brutoco highlights key points including:
- Stakeholder Capitalism: The academy advocates for this model, which considers employees, customers, communities, and the environment as stakeholders, as opposed to the traditional shareholder supremacy model.
- JustCapital Initiative: A nonprofit spin-off from the academy, JustCapital rates the largest U.S. companies based on their social impact and has found that companies following stakeholder capitalism are more profitable.
- Generational Differences: Brutoco observes that younger entrepreneurs are more receptive to change and the academy’s mission than older generations.
- The Dangers of AI: He expresses concern about the unregulated development of AI, stressing the need for responsible use and rules.
He concludes by encouraging people to actively participate in creating a better future.
Producer: George Alger
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