Tapping into the Millennial Spirit of Benefit Corporations

Tapping into the Millennial Spirit of Benefit Corporations

2016, maybe Paul will or maybe he won’t. Regardless, donors are looking at him as “a serious contender.” When they sit down at a table with him, they can’t help but wonder if they’re sitting with a future President. Nate Morris, on the other hand, plans on backing Paul no matter what, and his millennial spirit and “free-market vision” might have Paul talking about Benefit Corporations in the future.

Nate Morris
Nate Morris
of Rubicon Global

At the center of Paul’s [Atlanta fundraiser earlier this month] and the senator’s hopes for a presidential-level fundraising apparatus stands Kentuckian Nate Morris, who at age 33 represents the bridge between establishment Republicans and a new generation of millennial Republicans. …He is expected to take on an advisory role in fundraising, policy and strategy whether Paul sets his sights on the White House or just focuses on winning re-election to the Senate. …

“Whatever Rand decides to do, I’m behind him,” Morris told the Herald-Leader. There’s no question I think he’d make a great president, but we’re going to support him in whatever he chooses to do in the future.”

At the same time, it seems Morris and Paul also share an unorthodox vision for business according to the Lexington Herald-Leader. Morris leads Rubicon Global, a company that provides “sustainable waste and recycling services.” It’s also “organized as a ‘B Corp,’ or Benefit Corporation, which Morris says ‘allows markets to drive social change.'”

Now what’s a “B Corp” or Benefit Corporation?

According to the New York Times, “these are companies explicitly charged with a dual mission: to earn profits for shareholders, the traditional business goal, and also to pursue the social good in other ways, ranging from protecting employees to safeguarding the environment — even if these goals come at the cost of short-term financial gain.”

It’s an approach to business that could leave some scratching their heads at the counterintuitive reversal of placing social responsibility before profit. But over 800 companies in almost 20 states are choosing this business model. These include companies like Ben & Jerry’s and Etsy.

And, it could solve “some of the problems that government fails to adequately address, ” says Kentucky Agriculture Commissioner James Comer. (Side note, Comer is working alongside Paul to bring legal hemp farming to Kentucky.) It “empower[s] private-sector business leaders to tackle public problems.”

“Paul is going all-in on Rubicon and B Corporations, joining Morris, Comer and state Senate Floor Leader Damon Thayer, R-Georgetown, as they push to allow companies to register as B Corporations in Kentucky.” (Lexington Herald-Leader)

Good politics or good business, it’s hard to say. We might be seeing more of Morris on the political scene. What do you think about this potential move by Paul to back benefit corporations? Let us know in the comments!



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