Keynote Speech by Chih-Kai Cheng in the 4th Silicon Valley Entrepreneurs Festival
This keynote was given by Chih-Kai Cheng, Acorn Pacific Ventures Co-founder/General Partner, and author of “Password to Innovation” and “Human Values Beyond Silicon Valley.” Following in the footsteps of founders like John Mackey, who is the founder of Whole Foods, today’s young entrepreneurs are seeking a purpose for their businesses that benefits society. This social movement was highlighted in an article entitled “Millennial Socialism,” which was featured on the February 14 cover of The Economist magazine. This movement has given rise to new business structures, such as certified B corporations and benefit corporations that provide public benefits and sustainable value, in addition to generating profits. These companies, as well as non-profits, need solid business models that allow their organizations to “eco-scale,” and thus provide the greatest benefit. This approach guides Acorn as it funds entrepreneurs.