Peter Thiel thinks so: … I prefer to focus on the mission of a company. And the mission has a story that is about more than making money, some transcendent purpose. But I distinguish mission from convention; if it involves an idea that’s totally different than what I’ve seen before, that’s what feels very powerful. The creative part of the process is to think really hard: What are the great new things that we can develop today in 2014?
This quote gets to the heart of Theil’s argument on FastCoLabs.
He’s looking at it from an investor point of view, not a “this is a worthwhile endeavor” pov. Presumably every “social entrepreneurship” venture has an important mission, a “transcendent purpose” -isn’t that kind of the point? From a business/investor perspective, the issue of how an enterprise distinguishes itself from the crowd is vital. The compelling mission and story help your project stand out and get the attention of others who will want to be part of what you do, either as investors, partners, team members, community advocates, or consumers.
The issue seems to be one of innovation – how do you pursue your wild imagination and take the big risk, follow the BIG IDEA and get out in front of the crowd. Honestly, creating an environment where people can be more free to take risks will be good for everyone, not just investors. The Big Problems need Big Solutions. On that score, I’m glad to be part of The Grove Dallas where we are creating just this kind of space.