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The money, wealth, and power that giant tech companies and global corporations have gained over the past two decades can often seem overwhelming. Especially when you consider how their practices have destabilized local economies and contributed to greater global inequality. Even if you are aware of the ethical dilemmas they pose, it can feel impossible to disentangle yourself from these companies altogether, since they have become so ubiquitous and convenient. Despite these odds, there are entrepreneurs looking to create sustainable alternatives that benefit not only local economies but the planet as well.
Vivek George is a founding member and chief catalyst at Yuti Co-op, a sustainable marketplace that is owned by its workers and community. As a company, its mission is to help consumers by giving them a sustainable alternative that they can access and afford. In our conversation, Vivek breaks down the principles that Yuti Co-op was founded on and gives a detailed account of how multi-stakeholder companies like Yuti Co-op can address issues around sustainability, democracy, and inequality.
By building a community-backed co-op with multiple stakeholders, Yuti Co-op is able to avoid some of the fundamental pitfalls that arise when the demands of outside investors come into play. Tune in today as we unpack how supporting local economies and businesses can play a pivotal role in disrupting the current commercial landscape, one small exchange at a time.
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Key Points From This Episode:
How Yuti Co-op is tackling income inequality, environmental degradation, and issues around democracy. [0:01:54]
The power of good branding and how it can help to disrupt the current consumer landscape. [0:04:56]
How being a multi-stakeholder group helps Yuti Co-op remain transparent and accountable. [0:07:14]
Yuti’s rollout strategy and how they are building community involvement from the beginning. [0:09:16]
Learn about the meaning behind the name Yuti Co-op. [0:12:08]
Some of the challenges Yuti co-op has faced in building momentum and coming to market. [0:13:55]
How inequality has been perpetuated by policy changes, large corporations, and tech platforms. [0:19:40]
How co-ops can address issues of inequality. [0:24:06]
Vivek’s parting advice to entrepreneurs. [0:27:12]
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Tweetables:
“We're trying to make it easier for normal, everyday people to shop sustainably. Buy the same things that they're used to, but shop sustainably.” — @VivekMGeorge [0:03:52]
“I could probably go to a bunch of VCs or angel ambassadors, and try to raise capital that way. But for us, it's super important to try to build a community behind what we're doing.” — @VivekMGeorge [0:15:49]
“Because we're not owned by external investors, we don't have to return money to people that are uninvolved in the business, we just have to focus on making sure that we pay our workers well.” — @VivekMGeorge [0:24:06]
“There's a lot of different problems that you see from traditional businesses that create these wealth gap issues that we're seeing, that co-ops are really nicely designed to address.” — @VivekMGeorge [0:24:43]
“If you want to live in a world where people are happy and healthy, it's only in your best interest to try to create a business where everybody wins.” — @VivekMGeorge [0:29:26]
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Links Mentioned in Today’s Episode:
Vivek M. George on LinkedIn: https://www.linkedin.com/in/vivekmgeorge/
Yuti Co-op: https://www.yuticoop.com/
Yuti Co-op on Instagram: https://www.instagram.com/yuticoop/
Yuti Co-op on Facebook: https://www.facebook.com/people/Yuti-Co-op/
Shanti Bhavan: https://www.shantibhavanchildren.org/
Organic Valley: https://www.organicvalley.coop/
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