Now I want to shift to some examples that I thought were quite stellar and I will explain
why.
So we have team Sustainable Investing, and again, I changed the name of the team.
If you're on this call, I have to tell you, you did great.
It is very clear from your business plan.
You don't even need to read it.
I can just skip through it.
And it's clear that you've done a lot of work.
So that's very happy to see.
And so here's what you describe your problem statement as, "We believe there is a large
portion of the U.S. population that is conflicted about retirement savings specifically because
they are concerned deeply about environmental sustainability.
This creates a problem in how they desire to save for their own future, but feel in
many ways, powerless to save the planet.
We think that we can solve the problem in part, by creating a simple micro-investment
platform that engages companies focused on sustainability."
So basically what the team is doing here is it's conceiving of a way to allow people to
invest their retirement savings or to invest toward their retirement savings into companies
that promote environmental sustainability.
It's matching your wallet with your heart.
Great.
But then I'm presented with questions, I really was very skeptical as I was reading this problem
statement.
It appeared to me and forgive me for saying that, that sort of a do good statement without
much legs.
I was very skeptical.
Then I was reminded of my own belief in what one should feel about a good idea.
And really this is a good question to ask.
When you're confronted with an idea, what should a good idea make you feel.
And my belief, and I'm just developing this thinking, so just flow with me and tell me
your thoughts as well.
But I think a good idea is one that actually creates this uneasy feeling in your gut.
Something about it doesn't seem right to you.
And that's actually a good thing because if an idea is novel, rightly, it will make you
feel uneasy because general ideas that are good, they conform to what we expect to work.
And that means we feel good about ideas that are not novel.
That's actually the trick of the human mind and the human emotion, that ideas that are
not novel, make us feel easy because they conform to our expectations.
Well, that's not usually where breakthrough ideas come from.
And so a good idea in my mind, is the one that makes you feel a little uneasy, which
this one made me feel, but you can find customers who deeply care about it.
Right?
These two things are essential for a great idea.
If you can find people who are dying to have it, but at the same time, the average person
finds the idea uneasy.
And so I said, well, if the team here, so I'm reading this business plan, I'm enjoying
it.
I'm being very skeptical and drinking a cup of coffee.
And I'm saying, well, if these people believe that some people want to invest toward their
retirement savings into environmentally sustainable companies, then I would bet there are sustainable
companies out there into which people already invest.
And there are already movements out there to congregate, consolidate those environmentally
sustainable companies.
And if this cannot demonstrate that I would find this plan suspect.
And then I'm reading.
And the team generated many, many examples of work on the way of organizations, coalitions,
consortium of companies that promote environmental sustainability.
And they are fantastic [inaudible] to target with investment solutions.
So well done team, Sustainable Investing, at least you pass my mark of what makes a
good idea.
Uneasy, but in great need.