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Welcome to the HBR IDA Cast from Harvard Business Review. I'm Kurt Nickish, corporate social

responsibility, sustainability, ESG, doing well by doing good. You've probably heard these

phrases a lot lately, including on this show. It seems that whether you work in government,

or not for profit, tech startup, corporation, or even your own business, the part of the

economy that is claiming positive social impact is growing rapidly. However, incorporating

social impact into a business brings up all kinds of system dilemmas, and when it goes

wrong, it can go horribly wrong. Just take a look at FTX, which espoused effective altruism

that companies now mired in an enormous financial scandal. Or we work, the company whose

filing paper said it was going to change the world. It's founder walked away with a giant

buy-up package, even as its valuation crashed. With us here to talk about meaningful strategies

for positive impact is Jacob Herald. He's the former CEO of GuideStar, which reports

on nonprofits in the US. He also co-founded the philanthropy data platform Candid, and

wrote the new book, The Toolbox, Strategies for Crafting Social Impact. Hi, Jacob.

Kurt, I'm thrilled to be here.

So to start, let's talk a big picture about this doing good economy. How have you seen

it changing and grow over the years?

I love the framing of a doing good economy, because it captures that there are a lot

of different types of organizations that are doing good. In the US alone, we've got

over a million nonprofit organizations, countless businesses that have a social purpose integrated

...