Benefit corporation
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Search complete. 28 mentions across 14 episodes found for "Benefit corporation".
Oct 27, 2026
Kim Allchurch-FlickHOST
So that's the way I look at it.
Nathan A. StuckGUEST
And you think about too, I'll share one more quick little anecdote, a story that Rodney Bullard told me, who is the CEO of the same house, which is Public Benefit Corp in Atlanta.
Nathan A. StuckGUEST
He used to be the head of corporate philanthropy for Chick-fil-A, just done amazing work, Air Force vet.
Nathan A. StuckGUEST
Told me a story about getting on the phone when he was six years old.
Kai RyssdalHOST
It is a very, very safe bet that the most read document in American capitalism today is Securities and Exchange Commission Form S-1, a registration statement under the Securities Act of 1933, filed this morning by Anthropic PBC.
Kai RyssdalHOST
That's Public Benefit Corporation, which is all about what the company is trying to be.
Kai RyssdalHOST
and which is a story for another day.
Kai RyssdalHOST
The story for today is, first of all, that the S-1 has finally dropped.
Kai RyssdalHOST
It is a very, very safe bet that the most read document in American capitalism today is Securities and Exchange Commission Form S-1, a registration statement under the Securities Act of 1933, filed this morning by Anthropic PBC.
Kai RyssdalHOST
That's Public Benefit Corporation, which is all about what the company is trying to be.
Kai RyssdalHOST
and which is a story for another day.
Kai RyssdalHOST
The story for today is, first of all, that the S-1 has finally dropped.
Brett SchaferHOST
There are five different classes of stock, which I think is a record for something that we've covered on this episode.
Brett SchaferHOST
And it is a public benefit corporation that is committed to donate 5% and a growing amount of its ownership to the public good.
Brett SchaferHOST
That is a quote for them.
Brett SchaferHOST
What is the public good? Well, that is up to their trust.
31 MINS LATER
Brett SchaferHOST
They say, well, out of your equity plan, you'll commit to donating half of it to charity, right? And they kind of just go, I feel like they're holding them at gunpoint.
Brett SchaferHOST
Like, you're donating half of your salary to charity, right? Because you're going to join our company.
Brett SchaferHOST
So they love talking about how much they're going to be donating to charities, the public benefit corporation.
Brett SchaferHOST
Unless you have any other numbers here, Ryan, then we can talk the governance stuff, which I think is probably the biggest red flag.
David FaberHOST
If you really are serious about making sure this is safe for humanity, and you are a public company conceivably with a duty to your shareholders to do everything you can to become as profitable as you can, as quickly as you can, can you balance those things? And that's where this...
David FaberHOST
Public Benefit Corporation that they're going public as becomes important.
David FaberHOST
That's where this, was it a trust that they have? Yeah, they have a very big commitment.
David FaberHOST
The trustees as well.
MorganHOST
Exactly.
MorganHOST
They operate as a public benefit corporation or PBC.
MorganHOST
Their corporate charter legally binds them to balance the financial returns of their shareholders with a broader mandate to benefit humanity.
AlexHOST
Which is pretty rare for a tech giant.
Wes RothHOST
Ilya, not Elon, suggested that the for-profit should have a connection to the OpenAI mission.
Wes RothHOST
Shortly after the call, Elon actually created the OpenAI PBC, so Public Benefit Corporation, or B Corp.
Wes RothHOST
And despite his court filings glossing over the details of these negotiations, they were quite intense and involved deeply personal conversations.
Wes RothHOST
Elon said he wanted to accumulate $80 billion for a self-sustaining city on Mars.
Amy BabinchakHOST
We're going to talk about that.
Amy BabinchakHOST
Anthropix created a public benefit corporation.
Amy BabinchakHOST
We'll see what that means.
Amy BabinchakHOST
And Pax8 says they have a way for you to start making money off of those AI agents.
10 MINS LATER
James KernanHOST
So I'm glad to see that they're back in the news.
Amy BabinchakHOST
Yeah, yeah, me too.
Amy BabinchakHOST
Hey, you know, another news item that caught my eye is Anthropic has created what they're calling a public benefit corporation.
Amy BabinchakHOST
I had to look up, like, all right, what is a public benefit corporation? Well, it's sort of like a nonprofit, right? They have a mission.
Greg WitkopGUEST
And I think it, That's an ecosystem.
Greg WitkopGUEST
At this point, I think of it as a medical research organization, so some type of 5013C or probably Benefit Corporation, but something that exists and persists to advance human health and prevention so that people...
Greg WitkopGUEST
I always think about cardiology and oncology because they're just such great examples where now everyone knows about exercising for your heart.
Greg WitkopGUEST
And now we start to think about for your brain.
Eric RiesGUEST
So now to pick one thing, so to just pick one thing, by far the easiest thing you can do in the book is to encode the company's purpose into its legal charter.
Eric RiesGUEST
Now, in the United States, we have a concept for this called the Public Benefit Corporation, or PBC, which exists in 44 states, importantly including Delaware.
Eric RiesGUEST
I understand from having been here a few days that the exact equivalent thing does not exist in the UK, but there's an active attempt to build something called the Better Business Act, I think.
Eric RiesGUEST
So all of you should get real excited about the Better Business Act and lend your support to it.
1 HR 6 MINS LATER
Eric RiesGUEST
They make SAS software for the life sciences company, the life sciences industry.
Eric RiesGUEST
Really, really cool mission-driven company.
Eric RiesGUEST
They became a public benefit corporation after going public, which everyone says you can't do.
Eric RiesGUEST
Why does everyone say you can't do it? Because it would require a shareholder vote to consent to the conversion, which they did.
4 more episodes mention Benefit corporation.
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