Forbes Illustrates Expanding Imperative of Biz Press

I want to go on record with my belief that the explosion of media attention to philanthropy is not transitory, but a fundamental expansion of what biz press is now expected to cover. PhilanthroMedia has extensively blogged coverage of The Economist, Fast Company, Business Week, and Worth among others. Add Forbes to that list of those manifesting a significant shift that reflects core (not fluff) interest in social change.

In this issue of Forbes (April 9, 2007), I count a total of 35 articles and columns, of which 7 focus on social good either independently, or melded with profit motive. That’s 20%! (I’d give you the links but it is tough from website, so grab your own copy.) The array in just this one issue fairly represents this shift:

- Innovative ideas with no profit link (1 article) – How New Orleans neighborhoods should secede to gain better services and lower fees

- Straight-up link between profit and social good (3 articles) – Includes vegan shoes, the “nascent carbon swapping market” and urban renewal efforts

- Innovative ideas that may be long-term profitable, but are immediate good for the poor (1 article) – Check out “cheap and convenient wi-fi" called Wildnet that expands Internet penetration to poor, rural communities such as those in Southern India. Just short of billionaire status, Wildnet founder Eric Brewer is quoted as saying: “ I don’t want to impact ten people, I want to impact a billion people.”

- Smart corporate philanthropy (1 article) – Goldman Sachs helping smart, working-class kids get to college

- Tired whining about lefties infiltrating foundations and undermining capitalism (1 article) – Tune in tomorrow.

I’m clear on the fact that my analysis will be faulted by those who believe this coverage is more about profit than good and, transitory or here to stay, is really NOT about making the world better. Such perspectives baffle me who can rub her belly and pat her head at the same time. Given two options to make money, is it not possible that folks who have made a lot might select those that do both? Given the struggle to maintain print readers, is this expanded media coverage anything other than good business that biz press will maintain because their readers actually seem to care about ideas that promote double bottom lines?

Susan Herr