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Hemant Taneja - Intended Consequences

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WALL STREET JOURNAL BESTSELLER

A pioneering venture capitalist provides an actionable framework for founders and executives to create innovative, enduring companies built for growth and for societal good.

The Milton Friedman philosophy that companies exist only to increase shareholder value is dead and buried. The old Silicon Valley tenets of move fast and break things, minimum viable products, and hyper engagement at any cost must be replaced with new principles for an era of responsible innovation. We can no longer manage businesses solely for growth. With innovation comes responsibility: to generate returns beyond profits and to recenter technology as a force for good in the world. This requires a shift in the way organizations approach and value work.

A companys mindsetits intent to do good, avoid harmful consequences, and innovate responsiblyis not enough. That mindset must be supported by a business model, a mechanism that leaders must intentionally and proactively build along with the company from the ground up, one that incentivizes and rewards the organization for fulfilling its intentions. Companies need a new set of KCIs, or key consequence indicators, that measure factors such as its impact on customers energy consumption, whether its product is being used equally across socioeconomic groups, or if it is actually solving the social problem it is addressing. Not only is this the right thing to doincreasingly, it is what customers, employees, and shareholders demand of business.

In this inspiring, practical, and actionable guide, Hemant Taneja:

  • lays out the argument for why a new model of company building and leadership is necessaryand how it can lead to better performance
  • explores why social-good businesses are some of the greatest opportunities today, detailing examples of billion-dollar startups that are addressing inequality, climate change, systemic societal problems, and chronic diseaseall while generating profit and positive shareholder returns
  • presents a topic-by-topic road map that addresses business models, artificial intelligence, ethical growth, culture, governance, and good citizenship
  • Intended Consequences is designed as the ultimate playbook for founders, entrepreneurs, leadership teams, and investors on how to build and maintain a responsible innovation company.

    Hemant Taneja: author's other books


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    PRAISE FOR INTENDED CONSEQUENCES AND HEMANT TANEJA AND KEVIN MANEY Intended - photo 1

    PRAISE FOR

    INTENDED CONSEQUENCES

    AND HEMANT TANEJA AND KEVIN MANEY

    Intended Consequences thoughtfully outlines how and why capitalism must change in the twenty-first century. This important book should be required reading in every business school and boardroom in America.

    Tom Steyer, investor, activist, and former candidate for US President

    Hemant Taneja and Kevin Maney lay out a thoughtful and robust playbook for how business leaders can and should build a culture of responsibility behind the companies and innovations they bring to market. As the authors rightly assert, if your technology disrupts, you must also repairan approach that benefits not only companies but workers and society as well. Intended Consequences is a must-read.

    Penny Pritzker, founder of PSP Partners and former US Secretary of Commerce

    Intended Consequences provides a blueprint for founders, investors, and leaders who aspire to build transformative businesses where impact is a fundamental feature. Hemant is a gifted thinker and one of the few people I know with the mind and courage to steer technology in the right direction. This is a must-read for anyone motivated to change the world.

    Jim Breyer, founder and CEO of Breyer Capital

    A prescription for a healthier society, this book describes a proactive approach to creating durable companies intentionally designed to make the world a better place.

    Marc Harrison, MD, President and CEO of Intermountain Healthcare

    An urgent book from one of the worlds most forward-thinking venture capitalists. The argument in Intended Consequences is built on a searing critique of companies that rush to innovate without consideration of the potentially toxic ripple effects, but the real power in the book comes from its playbook on how to build companies that innovate responsibly, with a more thoughtful, values-driven intentionality. A vital read for any founder committed to building a future-fit business.

    Youngme Moon, Donald K. David Professor of Business at Harvard Business School and author of Different

    Hemant makes a powerful case for why companies must own their impact on society. As company builders, we have an opportunity to take on humanitys greatest challenges (climate change, inequality) and to transform vital frontiers (healthcare, energy, finance). Hemant shares a framework for leaders to build intentionally and to create a positive, enduring societal impact. This thesis is the start of a critical global discussion among investors, business leaders, and innovators about how we must harness the power of capitalism and responsible innovation for good above all else.

    Ashwini Zenooz, President and CEO of Commure

    Intended Consequences provides invaluable guidance for the emerging data enterprise of the twenty-first century. Taneja and Maney point the way toward a future shaped not by zero-sum trade-offs among stakeholders but by fresh approaches and values-based choices. And while their focus is on startups, the lessons are equally applicable to established enterprises, as we move into a new era of stakeholder capitalism.

    Jon Iwata, Executive Fellow at the Yale School of Management and former Chief Brand Officer of IBM

    This is a powerful and paradigm-shifting book, which arguesas I firmly believethat it is not only possible but imperative that todays entrepreneurs and investors do well by doing good in the world. The businesses that will endure and have generation-defining, category-defining impact will do so because they seek to solve real social problems, align their business models with their intentions, and hold themselves accountable for creating lasting outcomes.

    Toyin Ajayi, cofounder and President of Cityblock Health

    Throughout my career, Ive had the privilege of working in innovative environments focused on making a difference. Responsible innovation matters and is foundational in the era of stakeholder capitalism. Intended Consequences not only thoughtfully articulates why responsible innovation matters but also provides a framework and actionable plan to incorporate it into the nucleus of a company.

    Robin Washington, healthcare entrepreneur and former Chief Financial Officer of Gilead Sciences

    Copyright 2022 by Hemant Taneja General Catalyst LLC and Kevin Maney All - photo 2

    Copyright 2022 by Hemant Taneja, General Catalyst LLC, and Kevin Maney. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher.

    ISBN: 978-1-26-428550-1
    MHID: 1-26-428550-7

    The material in this eBook also appears in the print version of this title: ISBN: 978-1-26-428549-5, MHID: 1-26-428549-3.

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