CONSCIOUS CAPITAL
Conscious Capital for Healthcare
In the practice of Medicine, the patient always comes first. For years the principals at Spindletop have practiced this core value in all of our interactions with our portfolio companies, our investors, our colleagues, and our employees.
In 2018, Larry Fink, CEO of Blackrock issued a letter to his shareholders about “A Sense of Purpose”. https://corpgov.law.harvard.edu/2018/01/17/a-sense-of-purpose/
In 2019, the Business Roundtable, together with 181 CEO’s representing the largest companies in America, including JP Morgan, J&J, Vanguard, Citi all signed the Statement on the Purpose of a Corporation. Spindletop Capital was built upon modern stakeholder theory and subscribes to the ideals shared by many of the leading corporations in America today. https://opportunity.businessroundtable.org/ourcommitment/
Statement on the Purpose of a Corporation
Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity. We believe the free-market system is the best means of generating good jobs, a strong and sustainable economy, innovation, a healthy environment and economic opportunity for all.
Businesses play a vital role in the economy by creating jobs, fostering innovation and providing essential goods and services. Businesses make and sell consumer products; manufacture equipment and vehicles; support the national defense; grow and produce food; provide health care; generate and deliver energy; and offer financial, communications and other services that underpin economic growth.
While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders. We commit to:
Delivering value to our customers. We will further the tradition of American companies leading the way in meeting or exceeding customer expectations.
Investing in our employees. This starts with compensating them fairly and providing important benefits. It also includes supporting them through training and education that help develop new skills for a rapidly changing world. We foster diversity and inclusion, dignity and respect.
Dealing fairly and ethically with our suppliers. We are dedicated to serving as good partners to the other companies, large and small, that help us meet our missions.
Supporting the communities in which we work. We respect the people in our communities and protect the environment by embracing sustainable practices across our businesses.
Generating long-term value for shareholders, who provide the capital that allows companies to invest, grow and innovate. We are committed to transparency and effective engagement with shareholders.
Each of our stakeholders is essential. We commit to deliver value to all of them, for the future success of our companies, our communities and our country.
Core Values
Conscious Capitalism
Spindletop Capital recognizes that the one common characteristic between many of the most successful companies including Amazon, Whole Foods, 3M, Disney, UPS, Starbucks, and Southwest Airlines is their practice of Conscious Capitalism. As noted by Raj Sisodia and his co-authors Wolfe and Sheth in their book Firms of Endearment: How World-Class Companies Profit from Passion and Purpose, “Today’s greatest companies are fueled by passion and purpose, not cash. They earn large profits by helping all their stakeholders thrive: customers, investors, employees, partners, communities, and society. These rare, authentic firms of endearment act in powerfully positive ways that stakeholders recognize, value, admire, and even love.
They make the world better by the way they do business-and the world responds.” From 1998-2013, Sisodia and his colleagues found that firms driven by purpose and passion outperformed the S&P 500 by 14x (up 1681% in 15 years).
Conscious Business
Conscious Capitalism recognizes that all stakeholders are interconnected: management, shareholders, investors, customers, vendors and communities. The four basic tenants of a Conscious Business, as defined by Whole Foods co-Founder John Mackey and Raj Sisodia in their book Conscious Capitalism are, “Purpose, Stakeholder Orientation, Conscious Leadership, and Conscious Culture.” Businesses that inspire (Higher Purpose), benefit all stakeholders including their employees, vendors, customers, community, investors (Stakeholder Orientation), run by leaders focused on alignment of interests that create a culture for the business to thrive will be extremely successful by any measure.
We encourage you to learn more about Conscious Capitalism and view Dr. Sisodia’s talk Reimagining Capitalism.
