Matthew chaired a panel discussion on employment and growth at the Clinton Global Initiative yesterday, including Hernando de Soto, one of the world’s greatest economic thinkers, and John Chambers, chairman and CEO of Cisco Systems. You can watch the full video here:
Chambers talked about the way that Cisco’s investments a decade ago in what they saw as risky markets, such has Jordan, had been inspired by the company’s sense of global social responsibility, but these have proved some of their most successful deals and have moved to the core of their business. This is a perfect illustration of the way that philanthrocapitalist CEOs are now looking at corporate social responsibility – it’s a core part of their business, not an add-on, and, while the desire to do good is the inspiration, they see this as a way to maximise profits in the long term.