Social Impact and the Real World

We live in a time of Science & Technology acceleration and astounding breakthroughs. We live in a time where Jim Collins’ (1994) “genius of AND versus the tryanny of OR” is a minimum standard.

Any firm that does not understand the ‘and’ of ethical behavior and social impact and that it is a key part of branding will lose revenue over time, a lot of revenue. The scale of the the GenZ share of the spend in the modern economy continues to grow and will be essential within the decade.

In the next ten years, if your firm/brand is not viewed as earnestly engaged cross all four stakeholder domains GenZ (and to a lesser extent Millenials) cares about two things will happen:

1. X% of Gen Z will migrate Y% of their spend away from you. The same will happen at a lower rate for Millennials.

2. The product of those Xs and Ys will be big enough to set you on a path to nonexistence. It may happen slowly, but it might be more painful than quick.

In a decade, Gen Z will be the biggest economic cohort in history. GenZ plus Millemails will account for more than 50% of the spending.

Social impact domains also boost the nation’s ability to compete. This is not a zero-sum game. At a national competitiveness level geographically red-lining certain areas and providing them with sub-standard healthcare, education, connectivity, economic opportunity, food supply, and social justice is hugely detrimental to our talent supply chain and ability to win economically in a global battle. Not only does it damage our talent pool, which is critical for international competition, but it is cost-inefficient and has a secondary negative impact on GDP efficacy. It is exactly what a foreign-nation competitor would hope we would do. In futbol (yes, the round one, not the American pointy one) it’s like kicking the ball in your own net, yes, a bad thing.

Toby is personally committed, active and working on doing more to advance these causes. Verus is focused on advising national and international companies and organizations on how to be allies that add value through their mission, vision, and brand by engaging with meaningful, impactful actions. This is not social impact alone. It is a smart business strategy. It is a survival basic.

Just over a decade ago, I led the development of the tech strategy for one of the largest companies in America, a very cost-structure-sensitive firm. After we had chartered a new course for IT, they then began a long-term plan to be a green brand. When I asked them why, they ran me through the numbers on GenZ spending trends and simply said “Smart business strategy”

Privileged and passionate about giving back/having an impact Toby does the following pro bono today: Senior Fellow on the Council of Competitiveness, mentor a diverse group of hotshots including two super sharp military officers, on the advisor board for the International Science Reserve, start-up incubator mentor, Lake Nona Impact Forum advisory board, long time advisor to the Corporate Eco Forum (top green corporate org in US), advisory board at the Krach Institute for Tech Diplomacy, AI Advisory Board at ASU (consistently ranked #1 in innovation),  long time advisor to  Sir Rob Swan and 2041 an amazing Antarctic charity,  and lectures pro bono at the Naval Postgraduate School. Previously he was on the board of the first B corporation in Brazil, Exec Chairman of a cancer charity and an advisor to social incubator firm among other things.

Jen is equally passionate about giving back and currently serves as the CTO for The Mentor Project, an all-volunteer group that mentors children globally and is creating the first youth global entrepreneurial network to benefit underrepresented communities in STEM from kindergarten through college. She is an advisor to MoonMark Space, an initiative designed to get kids to truly "reach for the stars" by collaborating and competing to develop the next generation of affordable off world exploration solutions. Jen has been a long-time sponsor for the international outreach program, Compassion International and currently provides support and mentorship to seven children in Latin America, Africa and SouthEast Asia. She is also a passionate connector, speaker and advisor for women and minorities in tech and startups, women in life sciences, and STEM outreach to underrepresented communities through a variety of state and national level groups across the U.S. and Africa.