Page 14 - Forbes - USA (November 2019)

Sidelines

Reimagining Capitalism

NOVEMBER 30, 2019 | VOLUME 202 NUMBER 9 This issue marks our fourth go-round with the Just 100,
a ranking of corporate citizenry based on what tens of
CHAIRMAN AND EDITOR-IN-CHIEF: STEVE FORBES; CEO AND PRESIDENT: MICHAEL FEDERLE
EDITORIAL thousands of Americans have said they expect from the
12 12 RANDALL LANE, Chief Content Officer largest corporations. It’s a massive undertaking, spear-
Director, Editorial Operations: Caroline Howard; Executive Editors: Luisa Kroll, Kerry Lauerman, Michael Noer
headed by Just Capital, a nonprofit dedicated to ensuring
Assistant Managing Editors: Frederick E. Allen, Jessica Bohrer (Editorial Counsel), Kerry A. Dolan, Rob
La Franco, Laura Mandaro, Janet Novack, Michael Ozanian, Matt Schifrin, Michael Solomon, Alex Wood
that businesses deliver on behalf of all stakeholders—cus-
S Senior Editors: Susan Adams, Dan Alexander, Kurt Badenhausen, Steven Bertoni, Abram Brown, Dawn
E Chmielewski, John Dobosz, Amy Feldman, Martin Giles, Christopher Helman, Alan Ohnsman, Zack O’Malley tomers, employees, partners and the environment as well
B Greenburg, Susan Radlauer (Research), Jennifer Rooney, Tina Russo McCarthy, Nathan Vardi, Merrill Vaughn
R Deputy Editors: Rob Berger, Jeremy Bogaisky, Anne Glusker, Brett Knight, Iain Martin, Andrea Murphy, Chase as the shareholders.
O Peterson-Withorn, Helen A.S. Popkin, Chuck Tannert, Halah Touryalai, Jennifer Wang, Taesik Yoon; Associate
F Editors: Thomas Brewster, Ashlea Ebeling, Antoine Gara, Julius Juenemann, Alex Knapp, Alexander Konrad, More than simply important journalism, the Just 100
Maggie McGrath, Ezequiel Minaya, Michael Nuñez, Vicky Valet
is part of a three-pronged approach to reimagining cap-
Staff Writers: Angel Au-Yeung, Madeline Berg, Biz Carson, Michael del Castillo, Lauren Debter, Jillian D’Onfro,
Jeffrey Kauflin, Carly Schaffner, Samantha Sharf, Chris Smith, KellyAnne Smith, Chloe Sorvino, Michela
Tindera, Ruth Umoh, Andrew Wendler, William Yakowicz italism first alluded to in a cover essay in March. For 2020
Reporters: Noah Kirsch (Chief); Deniz Cam, Carter Coudriet, Hayley Cuccinello, Elizabeth Daffin, David we’re committed to delving deeper into all three.
Dawkins, Tanya Klich, Matthew Perez, Jonathan Ponciano, Christina Settimi, Kristin Stoller, Marty Swant,
Glenda Toma, Alexandra Wilson Corporate accountability: We’re working with Just
Assistant Editors: Justin Conklin, Katherine Love (Associate Managers, Editorial Operations); Elisabeth Brier,
Kendrick Cai, Marley Coyne, Brianne Garrett, Sarah Hansen, Christian Kreznar, Monica Melton, Sofia Lotto Capital to expand the Just 100—digitally, in print and at
Persio, Leah Rosenbaum, Ariel Shapiro, Alexandra Sternlicht, Kristin Tablang, Samantha Todd, Hank Tucker
live events—highlighting those that practice stakeholder
Art and Production: Bob Mansfield (Art and Design Director), Mark Decker (Production Chief), Clay Thurmond
(Copy Chief); Merrilee Barton, Charles Brucaliere, Sarkis Delimelkon, Richard Hyfler, Anton Klusener, Suzanne capitalism and calling out those that erode American
O’Neill, Robin Regensburg, Robyn Selman, Jasmine Smith, Gail Toivanen, Elena Torres
Social Media: Shauna Gleason (Director); Caroline Dilone, Dario Foroutan, Natasha Lekwa, Baylee Mozjesik, trust in free enterprise. As our founder, B.C. Forbes, wrote
Evan Spadaccini
a century ago, the purpose of business is to create happi-
Video: Tim Pierson (Director); Greg Andersson, Leah Bottone, Meghan Christensen, Ivan Clow, Julia Ferrier,
Marc Gomes, Nick Graham, Riley Hallaway, Matthew Kang, Kieran Krug-Meadows, Chad McClymonds, Juliet
Muir, Bernard Osei, Jonathan Palmer, Brian Petchers, Morgan Sun, Kirsten Taggart; Forbes Entertainment: ness, not pile up millions.
Travis Collins, Kyle Kramer Philanthropy and giving back: As best we can mea-
SALES AND MARKETING
MARK HOWARD, Chief Revenue Officer sure, there are now over 2,000 billionaires in the world,
AD SALES: Jessica Sibley (Chief Sales Officer); Maria Aiza Contro, Aaron Andrews, Julia Aziz, Jake Bell, Jessica
Blitzer, Leann Bonanno, Marissa Brown, Shae Carroll, Andrea Celis, Samantha Charlino, Seema Chaudhari, including more than 100 worth 11 figures. Large-stakes
Julie Chisar, Ruth Chute-Manning, Alexandra Cohn, Jennifer Cooke, Jennifer Crowe, Sarah Curry, Hannah
Davidson, Leigh Day, Emilie Errante, Taylor Felgenhauer, Olivia Gelade, Louisa Goujon, Taylor Green, Janett philanthropy is the only viable path forward for these
Haas, Shauna Haras, Megan Hennessey, Daniel Hennessy, Matthew Herrmann, William Hosinski, Victoria
Kreher, Martina Landeka, Kaly Leonoudakis, Jordan Loredo, Brian McLeod, Tara Michaels, Leah Monroe, Dana tycoons—you can’t (nor shouldn’t) spend it down, and
Moretti, Matt Muszala, Ryan Queler, Paul Reiss, Melanie Ruderman, Jesse Silberfein, Abbey Smith, William
Thompson, Laura Villaraut, Kyle Vinansky, Adam Wallitt, Charles Yardley, Casey Zonfrilli leaving huge, unfettered sums to heirs produces bad,
BRAND STRATEGY/MARKETING/PARTNERSHIPS: Rachel Aquino, Mary Baru, Kate Bishop, Erika Burho,
Brandon Bycer, Nicholas Clunn, James Colistra, Danielle Collins, Connor Davis, Krystle Davis, Tom Davis (Chief sometimes tragic outcomes. We’re partnering with the
Growth Officer), William Delehanty, Samantha Evans, Erica Ferraro, Moira Forbes (EVP, ForbesWomen), Kristine
Francisco, Ross Gagnon, Cara Gilmartin, Sahara Gipson, Ashley Grado, Matthew Haensly, Julie Hildenbrand, advocacy group Global Citizen to expand our Philan-
Adelaide Hill, Olivia Hine, Merryl Holland, David Johnson, Kari Jones, Nicolette Jones, Evelyn Kanu, Juliana
Longo, Brian Lee, Douglas Lopenzina, Erika Maguire, Scott McGrath, James Mentzinger, Sophia Minassian, thropy scorecard, rewarding those who put the money to
Sade Muhammad, Alexis Murillo, Romy Oltuski, Jahcelyne Patton, Zehava Pasternak, Alexi Potter, Jennifer
Ramos, Allison Rickert, Claire Robinson, Joshua Robinson, Danielle Rubino, Claire Ryan, Robert Salgado, Peter good use now, versus crediting people for future pledges
Sarnoff, Lynn Schlesinger, Andrey Slivka, Allyson Souza, Gregory Spitz, Kara Stiles, Samantha Strassman, Neha
Tandon, Rashaad Denzel Toney, Meenal Vamburkar, Liz Walsh, Jason Webster, Janet Yin or for parking it in a perpetual foundation.
DIGITAL REVENUE OPERATIONS: Achir Kalra (SVP, Revenue Operations and Strategic Partnerships); Kazuki
Akiba, Gaston Alegre, Sergiu Bucur, Sal Cangeloso, Lisa Chiobi, Andrew Dizon, Danielle Gilman, Rachel Inclusivity: Earlier this fall, we published a widely—
Goroff, Lauren Gurnee, Victor Lee, Emily Lewis, Nicole Lewitinn, Kelly Mui, Ryan Pearce, Casey Riordan,
Rebeca Solorzano, Steven Song, Jacqueline Subramaniam, Alyson Williams and justly—criticized list, purportedly of America’s most
FORBESLIVE: Sherry Phillips (SVP); Andrea Cantor, Jessica Charles, Chardia Christophe, Alex Engel, Lindsay
Ezykowich, Julieanna Gray, Nicole Kerno, Susan Kessler, Jessica Lantz, Michael Martin, Sydney Melin, innovative leaders, that included only one woman. By
Menaka Menon, Nicole Mittman, Jimmy Okuszka, Mary Margaret Soderquist, Elizabeth Strozier, Shelby
Tompkins, Blair Walther, Jessica Wolf basing it on public company CEOs, we started with a
DIGITAL hopelessly skewed pool. In failing to course-correct, we
SALAH ZALATIMO, Chief Digital Officer
PRODUCT: Nina Gould; Terrence Agbi, Youssef Drihmi, Nina Foroutan, Kelly Hanshaw, Erica Ho, Mike Medric, exposed flaws in our systems, too. As we advise entrepre-
Martin Navarrete, Dayne Richards, Ebony Shears, Nick Shippers, Rachel Thomas, Grant Tunkel, Katie Ward, Mila
Wentrys neurs constantly, the only truly bad mistake is the one
CORPORATE TECH: Peter Hahm; Jiten Bhojwani, Christopher Frank, Justin Harris, Joshua Hartzog, Adaze
Idehen-Amadasun, Paul Motta you don’t improve from. So we convened an internal task
DESIGN: Dan Revitte; Sara Amato, Nick DeSantis, Andres Jauregui, Joy Hwang, Adrienne Michalski force and implemented all their recommendations (in-
E-COMMERCE: Madeline Kaufman
ENGINEERING: Vadim Supitskiy (SVP); Adrian Ali, William Anderson, Ken Barney, Don Cao, Igor Carrasco, cluding methodology audits and a policy to elevate red
Brian Chamberlain, Chris DeLeon, Mudit Dhawan, Philip Diaz, Stephen Dotz, Jaekyung Ha, Benjamin Harrigan,
Isabelle Ingato, Daryl Kang, Johnny McCampbell, Marissa Orea, Drew Overcash, Sungmin Park, Sameer flags to the top). In a few months, we’ll devote an entire
Patwardhan, Mads Pedersen, Joseph Pietruch, Ronak Ray, Charles Rea, Rodney Rodriguez, Kyle Rogers, Aaron
Romel, Kelly Sample, Alexander Shnayderman, Zachery Shuffield, Dmitri Slavinsky, Scott Warner, JD Weiner, print issue to Inclusive Capitalism. In the interim, our
Forrest Whiting, Heath Woodson, Boris Yakubchik
CORPORATE writers will seek stories that highlight systemic change.
FINANCE/OPERATIONS: Michael York (Chief Financial Officer); Cristina Baluyut, Noemi Baraket, Oneil Brodie,
Adele Cassano, Rosa Colon, Chelsea Deluca, Mike Deochand, Cindy Eng, Jessica Feintisch, Nancy Garcia, Iris The goal is to ensure that everyone has a seat at the table.
Garcia, Christie Hansen, Giedre Kristahn, Christopher Labianca, Nina LaFrance (SVP, Consumer Marketing),
Jeffery Lamperti, Stephanie Lewis, Penina Littman, Jaclyn Liu, Christopher Lopiano, Andrea Maniscalco, Nata- The free market system is the greatest driver of pros-
lie Maquiling, Christine Martinez, Nelson Osegueda, Willie Osegueda, Amanda Pasquarello, Barbara Passarella,
Jeanine Pecoraro, Gary Prasto, Ivette Reyes, Angel Sauri, Diane Schmid, Lisa Serapiglia, William Simmons, Vera perity—and, yes, happiness—ever created. But just as
Sit, Courtney Stanton, Parag Tolia, Buddy Trocchia, Donald Walsh
CORPORATE PARTNERSHIPS: Peter Hung (Senior Liaison, Investment Group); Taha Ahmed, Rich Karlgaard, capitalism demands evolution, so capitalism itself needs
Rupa Singh, Katya Soldak, Amanda Xiang to evolve. We intend to help lead this metamorphosis.
COMMUNICATIONS: Matthew Hutchison (SVP); Laura Brusca, Susan Masula, Jocelyn Swift, Christina Vega
HUMAN RESOURCES: Margy Loftus (SVP); Ashley Abendschoen, Brooke Dunmore, Emanuel Joseph-Bain,
Amanda Sedlak, Rachel Shapiro, Mary Urum-Eke
LEGAL: MariaRosa Cartolano (General Counsel); Paul Anderson, Lindsey Datte, Susy Garcia, Nikki Koval,
Josephine Love-Loftin
FORBES ASIA: William Adamopoulos (CEO), Justin Doebele (Editor); FORBES CHINA: Sherman Lee (CEO),
Russell Flannery (Editor)
Founded in 1917 —RANDALL LANE, CHIEF CONTENT OFFICER
B.C. Forbes, Editor-in-Chief (1917–54) Malcolm S. Forbes, Editor-in-Chief (1954–90)
James W. Michaels, Editor (1961–99) William Baldwin, Editor (1999–2010)
F O R B E S . C O M N O V E M B E R 3 0 , 2 0 1 9