Human Capital

I don't buy all of the author's thesis, but this is an interesting and thought-provoking read nonetheless...

https://aeon.co/essays/how-the-cold-war-led-the-cia-to-promote-human-capital-theory

Kickstarter Becomes a For Benefit Corporation

Kickstarter has become a For Benefit corporation, which means they can now "legally" pursue things other than profit.  Makes me think:

- Is US Corporate Law truly *that* tilted toward Shareholder enrichment?  I guess the only reason it seems odd is the amount of 'charitable' work corporations do today.  But if the only reason they do such charitable things is to increase short (tax breaks) and long (marketing) term profitability, then it would fit.  Fit the US Code, that is - not the definition of charity.

- The Kickstarter announcement (https://www.kickstarter.com/blog/kickstarter-is-now-a-benefit-corporation)  gives a brief explanation of what a For Benefit corporation is, and then proceeds to talk about the x% post- profit funds that will go into supporting A, B, C causes.  I think they have it wrong.   In 'sacrificing' the pursuit of sheer profit for the sake of benefiting others besides shareholders, a more organic approach should be taken.  One that is symbiotic, and which has the potential to actually - shudder! - increase profitability in the long run.  Why not implement policies that serve to enrich staff, inventors/clients, and customers instead of simply giving away money to causes that align with the board's outside agendas?  That is, why not implement policies that embody the philosophy expressed by a young Dave Packard at a roundtable of senior management types over 60 years ago:

"Somehow, we got into a discussion of the responsibility of management. Holden made the point that management's responsibility is to the shareholders – that's the end of it. And I objected. I said, 'I think you're absolutely wrong. Management has a responsibility to its employees, it has a responsibility to its customers, it has a responsibility to the community at large.' And they almost laughed me out of the room."
– David Packard, Stanford Magazine (http://alumni.stanford.edu/get/page/magazine/article/?article_id=42103)

- The "give money away" idea reflects the failed thinking of Johnson's Great Society.  Unearned gain will be squandered. Almost every time.

Dave Packard's 11 simple Rules

Ran across these today.  As applicable and effective as ever...



Dave Packard's 11 Simple Rules

Bill Hewlett (left) and Dave Packard (center) serving food at the company picnic. Photo circa 1958.

"Elegant" and "timeless" describe 11 simple rules first presented by Dave Packard at HP's second annual management conference in 1958 in Sonoma, California.
Discovered in Dave's correspondence file, these rules show his philosophy of work and life.


11 Simple Rules 1. Think first of the other fellow. This is THE foundation — the first requisite — for getting along with others. And it is the one truly difficult accomplishment you must make. Gaining this, the rest will be "a breeze."
2. Build up the other person's sense of importance. When we make the other person seem less important, we frustrate one of his deepest urges. Allow him to feel equality or superiority, and we can easily get along with him.
3. Respect the other man's personality rights. Respect as something sacred the other fellow's right to be different from you. No two personalities are ever molded by precisely the same forces.
4. Give sincere appreciation. If we think someone has done a thing well, we should never hesitate to let him know it. WARNING: This does not mean promiscuous use of obvious flattery. Flattery with most intelligent people gets exactly the reaction it deserves — contempt for the egotistical "phony" who stoops to it.
5. Eliminate the negative. Criticism seldom does what its user intends, for it invariably causes resentment. The tiniest bit of disapproval can sometimes cause a resentment which will rankle — to your disadvantage — for years.
6. Avoid openly trying to reform people. Every man knows he is imperfect, but he doesn't want someone else trying to correct his faults. If you want to improve a person, help him to embrace a higher working goal — a standard, an ideal — and he will do his own "making over" far more effectively than you can do it for him.
7. Try to understand the other person. How would you react to similar circumstances? When you begin to see the "whys" of him you can't help but get along better with him.
8. Check first impressions. We are especially prone to dislike some people on first sight because of some vague resemblance (of which we are usually unaware) to someone else whom we have had reason to dislike. Follow Abraham Lincoln's famous self-instruction: "I do not like that man; therefore I shall get to know him better."
9. Take care with the little details. Watch your smile, your tone of voice, how you use your eyes, the way you greet people, the use of nicknames and remembering faces, names and dates. Little things add polish to your skill in dealing with people. Constantly, deliberately think of them until they become a natural part of your personality.
10. Develop genuine interest in people. You cannot successfully apply the foregoing suggestions unless you have a sincere desire to like, respect and be helpful to others. Conversely, you cannot build genuine interest in people until you have experienced the pleasure of working with them in an atmosphere characterized by mutual liking and respect.

11. Keep it up. That's all — just keep it up!

Yeah, but where will the equipment receiving the tax credit be manufactured?

Something tells me China's economy will get a bigger boost from this than ours will.