What People Get Wrong About Sustainability

“The Conscious Investor” is presented by Nuveen.

Jeffrey Hollender is the co-founder and former CEO of the sustainable consumer product company Seventh Generation. Hollender is a professor of corporate sustainability at NYU Stern. He is also the CEO of Sustain Natural which he runs with his daughter.

Hollender says sustainability is not just about the environment. It’s about thinking long-term and considering the impact a business has on the planet and society. 

Hollender says treating employees well leads to faster growth and better financial performance. 

————————————————–

Business Insider tells you all you need to know about business, finance, tech, science, retail, and more.
Subscribe to our channel and visit us at: http://www.businessinsider.com/
BI on Facebook: https://www.facebook.com/businessinsider/
BI on Instagram: https://www.instagram.com/businessinsider/
BI on Twitter: https://twitter.com/businessinsider

The Psychological Reason Why Being Open To Failure Often Leads To Success

Scott Galloway, professor of marketing at the NYU Stern School of Business and the author of “The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google,” shows how some of the biggest successes in tech have also had major public failures. He explains why failure is an important aspect of success. Following is a transcript of the video.

Scott Galloway: So there’s a famous chart that shows — it says, what people think success is and it has a straight upward line and then what success really is, and it’s a jagged, multi-art adventure. And that is accurate.

Scott Galloway, professor of marketing NYU Stern and the author of “The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google.”

If you are not in your own professional life and your professional career kind of wiping out and getting beaned in the face every once in a while, you aren’t trying hard enough. And these companies are great at failure.

They’re fantastic at taking big risk. Putting metrics on them and just as importantly pulling the plug and performing infanticide on projects that aren’t working and then moving on to the next thing. Whether it was auctions or the phone with Amazon or Facebook and some of their targeting, all of these companies have had huge missteps, but it just doesn’t matter because they on average win.

They have a great batting average. And as Jeff Bezos said, they’ll take a risk, a one-in-10 risk if they think it can pay off 100 times.

That isn’t the way traditional companies think. Old-economy companies typically won’t green-light anything unless it has more than a 50% chance of winning, and then even worse than that, after it’s launched, and it’s become the pet project of people at the top, everyone else enters into consensual hallucination with the CEO that this thing is working and sometimes let this kind of gross, ugly child live longer than it should.

So, one, these companies are more disciplined about taking more risk, but they’re also more disciplined about pulling the plug on these things.

————————————————–

Follow BI Video on Twitter: http://bit.ly/1oS68Zs
Follow BI on Facebook: http://bit.ly/1W9Lk0n
Read more: http://www.businessinsider.com/

————————————————–

Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

Why Peter Thiel Is Wrong About Dropping Out Of College

Peter Thiel is offering a $10,000 fellowship to young entrepreneurs who drop out of college. While it’s tempting, Scott Galloway reveals why it is awful advice. Following is a transcription of the video.

Scott Galloway. Professor of marketing, NYU Stern. Despite how outrageously expensive college is, it’s still a pretty good plan B.

If a billionaire shows up and offers you $100,000 to drop out of college, punch that person in the face.

It’s sort of, in my opinion, obscene that a billionaire with an undergraduate degree and a graduate degree is running around the nation trying to convince people to drop out of college.

It appears that it worked pretty well for him. If you look at new millionaires over the last 20 years, the vast majority of them have two things in common.

One is they work out every day. Physical fitness is very important in terms of your own levels of confidence and avoiding things like depression and having more energy every day.

But the number one thing all these folks have in common?

They went to college.

I just think it’s obnoxious that a man who went to Stanford and then got a law degree and became a billionaire off of the credibility he was able to raise money off of is now telling kids to drop out of college.

I think it’s f—— obnoxious. I mean if Steve Jobs or if Bill Gates was doing it, they have some credibility or some license to say it, but a guy with a graduate degree?

Drop out of college?

I tried to do this through Berkeley, and they didn’t want to do it.

I said to Berkeley, I said ” I’ll give kids, pick 10 smart kids”– I just endowed a scholarship at Berkeley and said “let’s track 10 of them versus the 10 that Thiel… and we’re going to win.”

And they said, “well, we don’t want to embarrass the other kids.”

But who would you bet on? 10 Berkeley grads, who are smart students with a college degree or…

There are always going to be the JAY-Zs of the world. There’s going to be the Kobe Bryants. There’s going to be the Mark Zuckerbergs, the people that drop out of college.

You should assume you’re not that person and go to college.

Editor’s note: A previous version of this video stated that the Thiel Fellowship offers $10,000 to its fellows. The actual figure is $100,000 and has since been corrected.

————————————————–

Follow BI Video on Twitter: http://bit.ly/1oS68Zs
Follow BI on Facebook: http://bit.ly/1W9Lk0n
Read more: http://www.businessinsider.com/

————————————————–

Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

Scott Galloway On Why Amazon Is So Successful

Scott Galloway, professor of Marketing at NYU Stern and the author of “The Four: The Hidden DNA of Amazon, Apple, Facebook and Google”, explains how Amazon’s “Type 2” investments are the key to its incredible success. Following is a transcript of the video.

Scott Galloway: So people ask what Amazon’s core competence or advantage is, relative to the other members of the four and it comes down to storytelling. And that is Jeff Bezos’ essential rap has not changed in 15 years and it’s a pretty intoxicating visionary rap, where they’re gonna invest massively across some consumer truisms that aren’t perishable: value, convenience, selection, speed.

And the marketplace keeps bidding up the stocks. As a result, they have access to cheaper capital than any company in modern history. Amazon can now borrow money for less than the cost of what China can borrow money. As a result, they are able to throw up more stuff against the wall than any other firms. If the phone doesn’t work, if it fails, if auctions don’t fail, it’s a speed bump for them, whereas, other companies will probably be either put out of business or see their stock cut in half.

Some Plan B investments that had worked, they launched a company based on their own infrastructure and storage needs called “AWS” that now everyday, adds the entire capacity that they needed when they launched it for themselves internally, and is the number one share leader and what is the most profitable, fastest-growing business in tech to cloud with triple the share of the number two, Microsoft. This year, Amazon will spend $4.5 billion on original television content, second only to Netflix, who increased their budget to $2 billion when they heard Amazon’s footsteps behind them.

Amazon can go into non-core categories and show up and be dominant in record time because they have access to cheaper capital. Effectively, this company is playing unfair and winning.

————————————————–

Follow BI Video on Twitter: http://bit.ly/1oS68Zs
Follow BI on Facebook: http://bit.ly/1W9Lk0n
Read more: http://www.businessinsider.com/

————————————————–

Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.