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Our friend Frank Chen stopped by the Faith Driven Investor podcast to talk about how he’s helping entrepreneurs change the World at the Silicon Valley Venture powerhouse of Andreessen Horowitz. As Frank describes it they are “helping entrepreneurs build software companies that are eating the world.” (he’ll give you a little more info about what that means in our interview). 

Frank Chen is a self proclaimed former product and user experience design junkie with specialties in venture capital, artificial intelligence/machine learning, fund raising, product planning, product launches, product development process, enterprise software, UX design, Web hosting, and managed services. With a breadth of expertise like that, you can see why we were excited to have him on the show.

In addition to all of that, Frank also shared a vision for what it could look like when investors view themselves as servant leaders. So often, we think of the relationship between entrepreneur and investor as a constant power struggle, but Frank upended that idea and offered a much more redemptive approach that we thought was so helpful.

It was a fun, enlightening and engaging conversation, which we hope you enjoy. As always, thanks for listening.

Useful Links:

Marc Andressen on Why Software is Eating the World

GDP/Capita over the last 2000 Years

Frank Chen LinkedIn

This article was originally published here.

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by Liz Joslin

Faith-based ERGs, once unheard of, are becoming more and more popular among companies on the cutting edge of diversity and inclusion. At Tanenbaum, we have advised many clients at all stages of the process—from deciding if the time is right to establish a faith-based ERG, to inclusive communications, to planning a launch event. Use these five tips as a starting point to creating a successful faith-based ERG at your company.

1. Decide which model is best for your company: There are three main models for faith-based ERGs: faith-specific, interfaith, and interfaith network. Faith-specific ERGs are created around one particular tradition (ex: American Express has Christian, Jewish, and Muslim groups). Interfaith groups are not specific to any one tradition, but are created to recognize a wide array of affiliations (ex: Tanenbaum Corporate Member Merck’s Interfaith Organization). Finally, in an interfaith network model, multiple faith-specific groups are under the umbrella of an interfaith body (ex: Ford Motor Company’s longstanding Interfaith Network). Consider your current ERG structure, what kind of group has been requested, and resources available when deciding which model is the best fit for your company.

2. Solidify the business case: The rules that apply for ERGs generally apply for faith-based ERGs as well, including having a solid business case. Talk to interested employees to find out how they think the group will benefit the company. Perhaps the group can serve as an internal focus group on religious accommodations the company is considering (such as Quiet Rooms for prayer, meditation, and reflection), or aid the marketing department in reaching different religious communities. There are many ways a faith-based ERG can positively impact the bottom line.

3. Make sure it is inclusive: No matter what model you choose, your faith-based ERG must be open to employees of all faiths and none. “The nones” (people who are atheist, agnostic, spiritual or not affiliated with a particular religious tradition) are a part of the religious diversity landscape at your company, and must be considered in the creation of a faith-based ERG. Faith-specific ERGs (i.e. a Christian ERG) should also be open to employees from other faiths who are interested in learning more about their colleagues’ beliefs or in participating in an event the ERG is sponsoring, such as a volunteer event at a local soup kitchen. Another aspect of inclusion worth addressing is the relationship between LGBT inclusion and religion. If you have an existing LGBT ERG, consider asking that group to provide support and guidance in the establishment of the faith-based ERG. This will serve two purposes: the faith-based group will have a mentor group, and the general employee population will see that the two groups are united and working towards the same ultimate goal (inclusion) and are not in opposition.

4. Create a communications strategy: It may not be immediately clear to employees why the company is putting resources into a faith-based group. Some may feel immediately alienated, or even threatened by the prospect. Your communications strategy will be crucial in conveying the business case, the purpose, and the inclusive nature of the group, while also emphasizing that participating in the group is optional.

5. Seek out strong leaders: Finding capable employees to take on leadership roles and bringing on an executive sponsor is a crucial part of the creation of any ERG. Finding leaders who are fully aligned with the group’s business case and the company’s values will help to alleviate concerns that employees and senior leaders might have about preferential treatment within the group. An executive sponsor who can be a champion for the group and speak to the inclusive nature of the ERG can also make a positive impact in how the group is viewed within the company.

6. Generate interest through a launch event: A launch event is a great way to attract members to a new group. The event can be an extension of your communications strategy and showcase the diversity within the group, as well as highlighting the ways in which the group plans to have a positive impact on the business. Having a senior leader (the executive sponsor or another interested party) at the event to give an endorsement can also demonstrate that the company is fully behind the group.

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Today’s episode takes us to Silicon Valley connecting with Trae Stephens. You may have seen Trae on CNBC, or you may know him as one of the Partners at Founders Fund. It was an honor to have Trae on to share about his experiences—everything from his time in politics working for Congressmen and in Embassies to now working alongside Peter Thiel. Trae also shares about his life as a Christ Follower and how it shapes his view of the investing world.

In particular, Trae outlines what it means for an entrepreneur to be an outlier. He describes the difference between business ideas that fit into a certain pre-existing category and those that break every mold out there. He also shares cautionary advice about what not to do as an entrepreneur. His perspective as a venture capitalist is helpful to listen to for both investors and entrepreneurs alike.

But this podcast doesn’t stop there. As you know, we’re always approaching the conversation of entrepreneurship and investing from a faith-driven perspective. Trae is no exception. In this podcast, he talks about the different areas of theology and philosophy that inform his worldview. Specifically, he goes into detail about the innate tendency of all human beings to imitate something or someone. Here, he reminds us specifically of Ephesians 5:1, “Be imitators of God…”

When Trae talks about his relationship with God, you’ll hear both his personal faith journey—what it means to imitate Christ as a venture capitalist and how Silicon Valley opens the door for him to share his faith—and what he thinks about the global Christian movement. He invites listeners to consider what it would look like to be co-creators alongside God, with references to how God and Adam interacted in the Garden of Eden.

Our team had a blast catching up with Trae, as it felt like he covered dozens of topics with the fluency of an expert. His intellect and skill are on full display in this interview, but so is his spirit and heart behind what it means to be a faith driven entrepreneur and what faith driven investors can do to create value, not only for themselves, but for the world.

We hope you enjoy this episode and pray that it encourages you on your journey!

Useful Links:

Rene Girard Explains Mimetic Desires

Founders Fund

Trae Stephens Interview with Fortune

This article was originally published here.

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by Rev. Robert A. Sirico

We have all seen the various stereotypes of the Wall Street tycoon grinding the little guy under his thousand-dollar dress shoes on his way to the top.

In the popular imagination, it is almost inconceivable to think that someone could obtain economic success or wealth without exploiting the vulnerable. And of course, greed is operative in the free market, just as it is operative wherever humans exist in this life. However, it isn’t the essence of a free and vibrant economy.

The Meaning of Profit

One often hears that businesspeople are only interested in earning profits—what they can make from the deal.

Set aside for a moment this claim and ask yourself, “Should one invest one’s time, energy, talent, and wealth into a business in order to obtain a loss on the balance sheets?” For that you could have stayed home.

Profit is an indicator to you that you are achieving what you set out to do in a sustainable way. The opposite of profit is financial loss, and any business that consistently loses money cannot survive long. Indeed, no business or society can sustainably function where more resources are wasted than created.

Earning a profit is an indication that things are going as planned in meeting the needs of clients, and conversely, that when a profit is not attained, something is going wrong.

The art and talent required for profitability is seen in those enterprises that discover creative ways to make products and services available at accessible and attractive prices, while covering their own costs and then some. These are the companies that serve their clients, the reward for which is built right into the process.

Profit and the Zero-Sum Myth

It’s easy to fall into the trap of believing that one person gains in a market only if others lose and that if there are poor people, clearly it must be because the rich have taken more than their fair share of the pie, leaving the poor with the crumbs. If that’s the case, the obvious solution is to take the pie by force and divide it up equitably.

This is a zero-sum assumption that prevents people from ever asking whether the solution to poverty might be to grow the pie. In conversations with fellow clergy who take this view, I ask, if profits are morally dubious, are losses morally praiseworthy?

But consider that maybe the pie wasn’t always just sitting there—the exact same size from all eternity. Maybe some of those who are rich didn’t take more than their fair share; maybe they made more than their fair share.

If this is the case, profits aren’t inherently immoral any more than losses are a badge of saintliness. Profits suggest that a business is using its resources wisely; losses, that it is not. This isn’t to say that profits and losses are a business’s be-all and end-all, but they do serve as first-level indicators of whether a business is serving customers in an effective, sustainable manner.

So the next time you see the stereotype of the evil, exploitative businessman, remember that making a profit is actually a good thing that helps everyone, if done in an honest fashion.

Editor’s note: This post was adapted from Rev. Robert Sirico’s chapter entitled, “The Moral Potential of the Free Economy,” a chapter in For the Least of These: A Biblical Answer to Poverty.

This video was originally published here.

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Have you ever wondered what it looks like when HOPE invests in the dreams of families? This video will walk you through the process.