WEBVTT 00:00:00.372 --> 00:00:02.347 I think we're all aware 00:00:02.347 --> 00:00:05.243 that the world today is full of problems. 00:00:05.243 --> 00:00:07.080 We've been hearing them 00:00:07.080 --> 00:00:11.443 today and yesterday and every day for decades. 00:00:11.443 --> 00:00:15.672 Serious problems, big problems, pressing problems. 00:00:15.672 --> 00:00:18.843 Poor nutrition, access to water, 00:00:18.843 --> 00:00:21.088 climate change, deforestation, 00:00:21.088 --> 00:00:24.878 lack of skills, insecurity, not enough food, 00:00:24.878 --> 00:00:27.608 not enough health care, pollution. 00:00:27.608 --> 00:00:29.845 There's problem after problem, 00:00:29.845 --> 00:00:32.013 and I think what really separates this time 00:00:32.013 --> 00:00:35.440 from any time I can remember in my brief time 00:00:35.440 --> 00:00:38.935 on earth is the awareness of these problems. 00:00:38.935 --> 00:00:41.024 We're all very aware. NOTE Paragraph 00:00:41.024 --> 00:00:43.096 Why are we having so much trouble 00:00:43.096 --> 00:00:45.360 dealing with these problems? 00:00:45.360 --> 00:00:48.040 That's the question I've been struggling with, 00:00:48.040 --> 00:00:52.569 coming from my very different perspective. 00:00:52.569 --> 00:00:55.376 I'm not a social problem guy. 00:00:55.376 --> 00:00:58.168 I'm a guy that works with business, 00:00:58.168 --> 00:01:01.704 helps business make money. 00:01:01.704 --> 00:01:04.008 God forbid. 00:01:04.008 --> 00:01:07.792 So why are we having so much problems 00:01:07.792 --> 00:01:10.336 with these social problems, 00:01:10.336 --> 00:01:13.192 and really is there any role for business, 00:01:13.192 --> 00:01:16.031 and if so, what is that role? 00:01:16.031 --> 00:01:19.384 I think that in order to address the question, 00:01:19.384 --> 00:01:21.912 we have to step back and think about 00:01:21.912 --> 00:01:26.521 how we've understood and pondered 00:01:26.521 --> 00:01:29.103 both the problems and the solutions 00:01:29.103 --> 00:01:33.160 to these great social challenges that we face. NOTE Paragraph 00:01:33.160 --> 00:01:35.440 Now, I think many have seen business 00:01:35.440 --> 00:01:38.976 as the problem, or at least one of the problems, 00:01:38.976 --> 00:01:41.728 in many of the social challenges we face. 00:01:41.728 --> 00:01:43.504 You know, think of the fast food industry, 00:01:43.504 --> 00:01:45.648 the drug industry, the banking industry. 00:01:45.648 --> 00:01:47.688 You know, this is a low point 00:01:47.688 --> 00:01:50.279 in the respect for business. 00:01:50.279 --> 00:01:52.360 Business is not seen as the solution. 00:01:52.360 --> 00:01:54.854 It's seen as the problem now, for most people. 00:01:54.854 --> 00:01:57.704 And rightly so, in many cases. 00:01:57.704 --> 00:01:59.983 There's a lot of bad actors out there 00:01:59.983 --> 00:02:02.160 that have done the wrong thing, 00:02:02.160 --> 00:02:04.223 that actually have made the problem worse. 00:02:04.223 --> 00:02:06.640 So this perspective is perhaps justified. NOTE Paragraph 00:02:06.640 --> 00:02:09.599 How have we tended to see the solutions 00:02:09.599 --> 00:02:11.889 to these social problems, 00:02:11.889 --> 00:02:15.512 these many issues that we face in society? 00:02:15.512 --> 00:02:17.560 Well, we've tended to see the solutions 00:02:17.560 --> 00:02:19.681 in terms of NGOs, 00:02:19.681 --> 00:02:21.656 in terms of government, 00:02:21.656 --> 00:02:24.424 in terms of philanthropy. 00:02:24.424 --> 00:02:26.504 Indeed, the kind of unique organizational entity 00:02:26.504 --> 00:02:30.384 of this age is this tremendous rise of NGOs 00:02:30.384 --> 00:02:33.136 and social organizations. 00:02:33.136 --> 00:02:35.960 This is a unique, new organizational form 00:02:35.960 --> 00:02:38.040 that we've seen grown up. 00:02:38.040 --> 00:02:40.560 Enormous innovation, enormous energy, 00:02:40.560 --> 00:02:43.296 enormous talent now has been mobilized 00:02:43.296 --> 00:02:45.785 through this structure 00:02:45.785 --> 00:02:49.392 to try to deal with all of these challenges. 00:02:49.392 --> 00:02:53.031 And many of us here are deeply involved in that. NOTE Paragraph 00:02:53.031 --> 00:02:56.296 You know, I'm a business school professor, 00:02:56.296 --> 00:02:59.296 but I've actually founded, I think, now, four non-profits. 00:02:59.296 --> 00:03:02.677 Whenever I got interested and became aware 00:03:02.677 --> 00:03:05.768 of a societal problem, that was what I did, 00:03:05.768 --> 00:03:08.040 form a non-profit. 00:03:08.040 --> 00:03:10.848 That was the way we've thought about how to deal 00:03:10.848 --> 00:03:12.904 with these issues. 00:03:12.904 --> 00:03:16.040 Even a business school professor has thought about it that way. NOTE Paragraph 00:03:16.040 --> 00:03:18.405 But I think at this moment, 00:03:18.405 --> 00:03:20.528 we've been at this for quite a while. 00:03:20.528 --> 00:03:23.856 We've been aware of these problems for decades. 00:03:23.856 --> 00:03:26.072 We have decades of experience 00:03:26.072 --> 00:03:29.568 with our NGOs and with our government entities, 00:03:29.568 --> 00:03:31.936 and there's an awkward reality. 00:03:31.936 --> 00:03:33.986 The awkward reality is we're not making 00:03:33.986 --> 00:03:36.000 fast enough progress. 00:03:36.000 --> 00:03:38.057 We're not winning. 00:03:38.057 --> 00:03:40.993 These problems still seem very daunting 00:03:40.993 --> 00:03:43.023 and very intractable, 00:03:43.023 --> 00:03:45.016 and any solutions we're achieving 00:03:45.016 --> 00:03:47.001 are small solutions. 00:03:47.001 --> 00:03:49.106 We're making incremental progress. NOTE Paragraph 00:03:49.106 --> 00:03:53.535 What's the fundamental problem we have 00:03:53.535 --> 00:03:56.413 in dealing with these social problems? 00:03:56.413 --> 00:04:00.023 If we cut all the complexity away, 00:04:00.023 --> 00:04:04.148 we have the problem of scale. 00:04:04.148 --> 00:04:06.182 We can't scale. 00:04:06.182 --> 00:04:10.077 We can make progress. We can show benefits. 00:04:10.077 --> 00:04:13.175 We can show results. We can make things better. 00:04:13.175 --> 00:04:17.468 We're helping. We're doing better. We're doing good. 00:04:17.468 --> 00:04:19.622 We can't scale. 00:04:19.622 --> 00:04:24.542 We can't make large-scale impact on these problems. 00:04:24.542 --> 00:04:26.653 Why is that? 00:04:26.653 --> 00:04:30.212 Because we don't have the resources. 00:04:30.212 --> 00:04:32.292 And that's really clear now. 00:04:32.292 --> 00:04:34.928 And that's clearer now than it's been for decades. 00:04:34.928 --> 00:04:37.085 There's simply not enough money 00:04:37.085 --> 00:04:41.717 to deal with any of these problems at scale 00:04:41.717 --> 00:04:44.827 using the current model. 00:04:44.827 --> 00:04:46.989 There's not enough tax revenue, 00:04:46.989 --> 00:04:51.189 there's not enough philanthropic donations 00:04:51.189 --> 00:04:54.453 to deal with these problems the way we're dealing with them now. 00:04:54.453 --> 00:04:58.372 We've got to confront that reality. 00:04:58.372 --> 00:05:01.661 And the scarcity of resources 00:05:01.661 --> 00:05:05.812 for dealing with these problems is only growing, 00:05:05.812 --> 00:05:08.100 certainly in the advanced world today, 00:05:08.100 --> 00:05:12.695 with all the fiscal problems we face. NOTE Paragraph 00:05:12.695 --> 00:05:16.463 So if it's fundamentally a resource problem, 00:05:16.463 --> 00:05:21.004 you know, where are the resources in society? 00:05:21.004 --> 00:05:25.002 How are those resources really created, 00:05:25.002 --> 00:05:26.968 the resources we're going to need to deal 00:05:26.968 --> 00:05:29.762 with all these societal challenges? 00:05:29.762 --> 00:05:32.786 Well there, I think the answer is very clear: 00:05:32.786 --> 00:05:35.078 they're in business. 00:05:35.078 --> 00:05:40.714 All wealth is actually created by business. 00:05:40.714 --> 00:05:44.978 Business creates wealth 00:05:44.978 --> 00:05:50.747 when it meets needs at a profit. 00:05:50.747 --> 00:05:53.075 That's how all wealth is created. 00:05:53.075 --> 00:05:55.138 It's meeting needs at a profit 00:05:55.138 --> 00:05:57.642 that leads to taxes 00:05:57.642 --> 00:05:59.466 and that leads to incomes 00:05:59.466 --> 00:06:01.578 and that leads to charitable donations. 00:06:01.578 --> 00:06:03.907 That's where all the resources come from. 00:06:03.907 --> 00:06:07.349 Only business can actually create resources. 00:06:07.349 --> 00:06:09.411 Other institutions can utilize them 00:06:09.411 --> 00:06:11.329 to do important work, 00:06:11.329 --> 00:06:13.450 but only business can create them. 00:06:13.450 --> 00:06:15.602 And business creates them 00:06:15.602 --> 00:06:22.881 when it's able to meet a need at a profit. 00:06:22.881 --> 00:06:26.433 The resources are overwhelmingly 00:06:26.433 --> 00:06:28.769 generated by business. 00:06:28.769 --> 00:06:33.625 The question then is, how do we tap into this? 00:06:33.625 --> 00:06:36.097 How do we tap into this? 00:06:36.097 --> 00:06:38.947 Business generates these resources 00:06:38.947 --> 00:06:42.433 when it makes a profit. 00:06:42.433 --> 00:06:46.099 That profit is that small difference 00:06:46.099 --> 00:06:51.329 between the price and the cost it takes to produce 00:06:51.329 --> 00:06:54.153 whatever solution business has created 00:06:54.153 --> 00:06:57.746 to whatever problem they're trying to solve. 00:06:57.746 --> 00:07:03.049 But that profit is the magic. 00:07:03.049 --> 00:07:08.937 Why? Because that profit allows whatever solution 00:07:08.937 --> 00:07:11.109 we've created 00:07:11.109 --> 00:07:14.177 to be infinitely scalable. 00:07:14.177 --> 00:07:17.009 Because if we can make a profit, 00:07:17.009 --> 00:07:20.794 we can do it for 10, a hundred, a million, 00:07:20.794 --> 00:07:24.163 a hundred million, a billion. 00:07:24.163 --> 00:07:27.010 The solution becomes self-sustaining. 00:07:27.010 --> 00:07:30.697 That's what business does 00:07:30.697 --> 00:07:34.769 when it makes a profit. NOTE Paragraph 00:07:34.769 --> 00:07:37.799 Now what does this all have to do 00:07:37.799 --> 00:07:40.513 with social problems? 00:07:40.513 --> 00:07:44.457 Well, one line of thinking is, let's take this profit 00:07:44.457 --> 00:07:49.929 and redeploy it into social problems. 00:07:49.929 --> 00:07:52.035 Business should give more. 00:07:52.035 --> 00:07:53.897 Business should be more responsible. 00:07:53.897 --> 00:07:55.915 And that's been the path that we've been on 00:07:55.915 --> 00:07:58.017 in business. 00:07:58.017 --> 00:08:00.157 But again, this path that we've been on 00:08:00.157 --> 00:08:02.297 is not getting us where we need to go. NOTE Paragraph 00:08:02.297 --> 00:08:07.153 Now, I started out as a strategy professor, 00:08:07.153 --> 00:08:09.212 and I'm still a strategy professor. 00:08:09.212 --> 00:08:10.941 I'm proud of that. 00:08:10.941 --> 00:08:12.867 But I've also, over the years, 00:08:12.867 --> 00:08:14.907 worked more and more on social issues. 00:08:14.907 --> 00:08:17.042 I've worked on health care, the environment, 00:08:17.042 --> 00:08:20.005 economic development, reducing poverty, 00:08:20.005 --> 00:08:24.245 and as I worked more and more in the social field, 00:08:24.245 --> 00:08:26.746 I started seeing something 00:08:26.746 --> 00:08:29.080 that had a profound impact on me 00:08:29.080 --> 00:08:33.279 and my whole life, in a way. NOTE Paragraph 00:08:33.279 --> 00:08:36.699 The conventional wisdom in economics 00:08:36.699 --> 00:08:40.874 and the view in business has historically been 00:08:40.874 --> 00:08:44.923 that actually, there's a tradeoff 00:08:44.923 --> 00:08:49.963 between social performance and economic performance. 00:08:49.963 --> 00:08:52.123 The conventional wisdom has been 00:08:52.123 --> 00:08:54.931 that business actually makes a profit 00:08:54.931 --> 00:08:57.054 by causing a social problem. 00:08:57.054 --> 00:08:59.060 The classic example is pollution. 00:08:59.060 --> 00:09:02.344 If business pollutes, it makes more money 00:09:02.344 --> 00:09:05.232 than if it tried to reduce that pollution. 00:09:05.232 --> 00:09:08.814 Reducing pollution is expensive, 00:09:08.814 --> 00:09:12.191 therefore businesses don't want to do it. 00:09:12.191 --> 00:09:16.919 It's profitable to have an unsafe working environment. 00:09:16.919 --> 00:09:19.038 It's too expensive to have a safe working environment, 00:09:19.038 --> 00:09:21.102 therefore business makes more money 00:09:21.102 --> 00:09:23.142 if they don't have a safe working environment. 00:09:23.142 --> 00:09:25.163 That's been the conventional wisdom. 00:09:25.163 --> 00:09:29.019 A lot of companies have fallen into that conventional wisdom. 00:09:29.019 --> 00:09:31.103 They resisted environmental improvement. 00:09:31.103 --> 00:09:33.983 They resisted workplace improvement. 00:09:33.983 --> 00:09:40.407 That thinking has led to, I think, 00:09:40.407 --> 00:09:42.311 much of the behavior 00:09:42.311 --> 00:09:44.292 that we have come to criticize in business, 00:09:44.292 --> 00:09:46.335 that I come to criticize in business. NOTE Paragraph 00:09:46.335 --> 00:09:49.731 But the more deeply I got into all these social issues, 00:09:49.731 --> 00:09:51.819 one after another, 00:09:51.819 --> 00:09:54.803 and actually, the more I tried to address them 00:09:54.803 --> 00:09:57.427 myself, personally, in a few cases, 00:09:57.427 --> 00:10:00.171 through non-profits that I was involved with, 00:10:00.171 --> 00:10:03.091 the more I found actually that the reality 00:10:03.091 --> 00:10:05.643 is the opposite. 00:10:05.643 --> 00:10:07.659 Business does not profit 00:10:07.659 --> 00:10:09.515 from causing social problems, 00:10:09.515 --> 00:10:12.965 actually not in any fundamental sense. 00:10:12.965 --> 00:10:15.267 That's a very simplistic view. 00:10:15.267 --> 00:10:18.251 The deeper we get into these issues, 00:10:18.251 --> 00:10:20.281 the more we start to understand 00:10:20.281 --> 00:10:22.243 that actually business profits 00:10:22.243 --> 00:10:23.917 from solving from social problems. 00:10:23.917 --> 00:10:26.152 That's where the real profit comes. 00:10:26.152 --> 00:10:28.179 Let's take pollution. 00:10:28.179 --> 00:10:30.763 We've learned today that actually 00:10:30.763 --> 00:10:33.155 reducing pollution and emissions 00:10:33.155 --> 00:10:37.002 is generating profit. 00:10:37.002 --> 00:10:39.019 It saves money. 00:10:39.019 --> 00:10:41.035 It makes the business more productive and efficient. 00:10:41.035 --> 00:10:43.027 It doesn't waste resources. 00:10:43.027 --> 00:10:45.059 Having a safer working environment actually, 00:10:45.059 --> 00:10:47.017 and avoiding accidents, 00:10:47.017 --> 00:10:48.959 it makes the business more profitable, 00:10:48.959 --> 00:10:50.996 because it's a sign of good processes. 00:10:50.996 --> 00:10:54.535 Accidents are expensive and costly. 00:10:54.535 --> 00:10:57.647 Issue by issue by issue, we start to learn 00:10:57.647 --> 00:10:59.967 that there's no trade-off 00:10:59.967 --> 00:11:03.855 between social progress 00:11:03.855 --> 00:11:06.810 and economic efficiency 00:11:06.810 --> 00:11:09.287 in any fundamental sense. 00:11:09.287 --> 00:11:11.247 Another issue is health. 00:11:11.247 --> 00:11:13.215 I mean, what we've found is actually 00:11:13.215 --> 00:11:15.251 health of employees is something 00:11:15.251 --> 00:11:17.183 that business should treasure, 00:11:17.183 --> 00:11:19.311 because that health allows those employees 00:11:19.311 --> 00:11:21.135 to be more productive and come to work 00:11:21.135 --> 00:11:23.079 and not be absent. 00:11:23.079 --> 00:11:25.183 The deeper work, the new work, the new thinking 00:11:25.183 --> 00:11:29.567 on the interface between business and social problems 00:11:29.567 --> 00:11:32.623 is actually showing that there's a fundamental, 00:11:32.623 --> 00:11:34.959 deep synergy, 00:11:34.959 --> 00:11:38.671 particularly if you're not thinking in the very short run. 00:11:38.671 --> 00:11:40.754 In the very short run, you can sometimes 00:11:40.754 --> 00:11:42.855 fool yourself into thinking 00:11:42.855 --> 00:11:45.015 that there's fundamentally opposing goals, 00:11:45.015 --> 00:11:47.103 but in the long run, ultimately, we're learning 00:11:47.103 --> 00:11:51.039 in field after field that this is simply not true. NOTE Paragraph 00:11:51.039 --> 00:11:54.204 So how could we tap into 00:11:54.204 --> 00:11:57.071 the power of business 00:11:57.071 --> 00:11:59.759 to address the fundamental problems 00:11:59.759 --> 00:12:02.007 that we face? 00:12:02.007 --> 00:12:05.407 Imagine if we could do that, because if we could do, 00:12:05.407 --> 00:12:07.447 we could scale. 00:12:07.447 --> 00:12:10.303 We could tap into this enormous resource pool 00:12:10.303 --> 00:12:12.447 and this organizational capacity. NOTE Paragraph 00:12:12.447 --> 00:12:16.583 And guess what? That's happening now, finally, 00:12:16.583 --> 00:12:21.104 partly because of people like you 00:12:21.104 --> 00:12:23.959 who have raised these issues now 00:12:23.959 --> 00:12:27.032 for year after year and decade after decade. 00:12:27.032 --> 00:12:29.375 We see organizations like Dow Chemical 00:12:29.375 --> 00:12:31.663 leading the revolution away from trans-fat 00:12:31.663 --> 00:12:35.024 and saturated fat with innovative new products. 00:12:35.024 --> 00:12:37.087 This is an example of Jain Irrigation. 00:12:37.087 --> 00:12:39.175 This is a company that's brought drip irrigation technology 00:12:39.175 --> 00:12:41.951 to thousands and millions of farmers, 00:12:41.951 --> 00:12:45.071 reducing substantially the use of water. 00:12:45.071 --> 00:12:48.154 We see companies like the Brazilian forestry company [??] 00:12:48.154 --> 00:12:50.191 that's figured out how to avoid 00:12:50.191 --> 00:12:52.087 tearing down old growth forest 00:12:52.087 --> 00:12:54.231 and using eucalyptus and getting much more yield 00:12:54.231 --> 00:12:56.375 per hectare of pulp 00:12:56.375 --> 00:12:58.527 and making much more paper than you could make 00:12:58.527 --> 00:13:00.698 by cutting down those old trees. 00:13:00.698 --> 00:13:02.839 You see companies like Cisco that are training 00:13:02.839 --> 00:13:06.534 so far four million people in I.T. skills 00:13:06.534 --> 00:13:09.431 to actually, yes, be responsible, 00:13:09.431 --> 00:13:11.631 but help expand the opportunity 00:13:11.631 --> 00:13:14.135 to disseminate I.T. technology 00:13:14.135 --> 00:13:16.175 and grow the whole business. 00:13:16.175 --> 00:13:18.919 There's a fundamental opportunity for business today 00:13:18.919 --> 00:13:24.129 to impact and address these social problems, 00:13:24.129 --> 00:13:26.207 and this opportunity 00:13:26.207 --> 00:13:28.167 is the largest business opportunity 00:13:28.167 --> 00:13:31.051 we see in business. NOTE Paragraph 00:13:31.051 --> 00:13:34.208 And the question is, how can we get business 00:13:34.208 --> 00:13:38.206 thinking to adapt this issue of shared value? 00:13:38.206 --> 00:13:40.199 This is what I call shared value: 00:13:40.199 --> 00:13:43.416 addressing a social issue with a business model. 00:13:43.416 --> 00:13:45.570 That's shared value. 00:13:45.570 --> 00:13:47.615 Shared value is capitalism, 00:13:47.615 --> 00:13:49.961 but it's a higher kind of capitalism. 00:13:49.961 --> 00:13:53.184 It's capitalism as it was ultimately meant to be, 00:13:53.184 --> 00:13:55.304 meeting important needs, 00:13:55.304 --> 00:13:59.219 not incrementally competing for 00:13:59.219 --> 00:14:03.039 trivial differences in product attributes 00:14:03.039 --> 00:14:05.023 and market share. 00:14:05.023 --> 00:14:07.219 Shared value is when we can create social value 00:14:07.219 --> 00:14:09.776 and economic value simultaneously. 00:14:09.776 --> 00:14:12.547 It's finding those opportunities 00:14:12.547 --> 00:14:14.643 that will unleash the greatest possibility we have 00:14:14.643 --> 00:14:16.619 to actually address these social problems 00:14:16.619 --> 00:14:18.605 because we can scale. 00:14:18.605 --> 00:14:21.131 We can address shared value at multiple levels. 00:14:21.131 --> 00:14:24.788 It's real. It's happening. NOTE Paragraph 00:14:24.788 --> 00:14:28.804 But in order to get this solution working, 00:14:28.804 --> 00:14:31.347 we have to now change how business sees itself, 00:14:31.347 --> 00:14:35.230 and this is thankfully underway. 00:14:35.230 --> 00:14:38.491 Businesses got trapped into the conventional wisdom 00:14:38.491 --> 00:14:40.708 that they shouldn't worry about social problems, 00:14:40.708 --> 00:14:42.996 that this was sort of something on the side, 00:14:42.996 --> 00:14:45.177 that somebody else was doing it. 00:14:45.177 --> 00:14:47.692 We're now seeing companies 00:14:47.692 --> 00:14:49.691 embrace this idea. 00:14:49.691 --> 00:14:51.665 But we also have to recognize business 00:14:51.665 --> 00:14:53.870 is not going to do this as effectively 00:14:53.870 --> 00:14:56.438 as if we have NGOs and government 00:14:56.438 --> 00:14:59.030 working in partnership with business. 00:14:59.030 --> 00:15:01.954 The new NGOs that are really moving the needle 00:15:01.954 --> 00:15:04.398 are the ones that have found these partnerships, 00:15:04.398 --> 00:15:06.446 that have found these ways to collaborate. 00:15:06.446 --> 00:15:08.534 The governments that are making the most progress 00:15:08.534 --> 00:15:10.518 are the governments that have found ways 00:15:10.518 --> 00:15:12.984 to enable shared value in business 00:15:12.984 --> 00:15:16.520 rather than see government as the only player 00:15:16.520 --> 00:15:19.934 that has to call the shots. 00:15:19.934 --> 00:15:22.406 And government has many ways in which it could impact 00:15:22.406 --> 00:15:24.614 the willingness and the ability of companies 00:15:24.614 --> 00:15:26.714 to compete in this way. NOTE Paragraph 00:15:26.714 --> 00:15:29.663 I think if we can get business seeing itself differently, 00:15:29.663 --> 00:15:32.206 and if we can get other seeing business differently, 00:15:32.206 --> 00:15:34.196 we can change the world. 00:15:34.196 --> 00:15:38.216 I know it. I'm seeing it. 00:15:38.216 --> 00:15:40.166 I'm feeling it. 00:15:40.166 --> 00:15:42.006 Young people, I think, 00:15:42.006 --> 00:15:44.241 my Harvard Business School students, are getting it. 00:15:44.241 --> 00:15:49.363 If we can break down this sort of divide, 00:15:49.363 --> 00:15:51.543 this unease, this tension, 00:15:51.543 --> 00:15:54.303 this sense that we're not 00:15:54.303 --> 00:15:56.543 fundamentally collaborating here 00:15:56.543 --> 00:15:58.893 in driving these social problems, 00:15:58.893 --> 00:16:00.997 we can break this down, 00:16:00.997 --> 00:16:02.997 and we finally, I think, 00:16:02.997 --> 00:16:05.629 can have solutions. NOTE Paragraph 00:16:05.629 --> 00:16:08.429 Thank you. NOTE Paragraph 00:16:08.429 --> 00:16:11.151 (Applause)