How to prevent corporate corruption with Eric Ries
Summary
Adam Grant interviews entrepreneur Eric Ries about his book *Incorruptible*, which argues that corporate corruption stems from shareholder primacy rather than inevitability. Ries shares his experience founding the Long-Term Stock Exchange and details how alternative governance structures, like industrial foundations, help companies resist short-term pressures. He proposes "mission primacy" and specific structural reforms to build durable, ethical organizations that prioritize long-term value over quarterly profits.
Topics discussed
Sponsors: Morning Brew Daily and Nature Raised Farms
Introduction to Eric Ries and his new book
The pain of corporate corruption and inevitability
Case studies: Companies that resist corruption
The Grunfos story: Alternative ownership structures
Sponsors: Morning Brew Daily, AT&T, and Bounty
Defining corruption: Historical vs. modern views
The decline of trust and the rise of exceptions
Data: Performance of mission-driven companies
Reframing capitalism: Mission primacy and new terms
The failure of the alternative stock exchange
Reflections on engineered market failures
Sponsors: Morning Brew Daily and Work Life
Practical steps: Fiduciary duties and governance
Conclusion: The need for a new vision
Listener call-in segment and show credits
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