Heather Wishart-Smith is a board director who has covered innovation since 2020. She advises corporations and investors on strategy, growth, leadership, and innovation. Wishart-Smith is on the boards of Orion (Nasdaq: OESX) and Group PMX, and previously led technology and innovation for Jacobs.
Success in Silicon Valley is generally measured by the size of a funding round or the speed of an exit. Yet Payam Zamani challenges this paradigm. Zamani’s life experiences and Baha'i Faith, which teaches the essential worth of all religions and the unity of all people, profoundly influence his approach to business, entrepreneurship, investment, and capitalism and explain his evolution from refugee to unicorn co-founder to purpose-driven investor.
He stands as a unique figure in the landscape of modern capitalism.Zamani’s story begins in Iran during the tumultuous years following the 1979 Islamic Revolution. As members of the Baha'i Faith, Zamani’s family faced persecution in their homeland. Zamani’s escape alone at age 16 involved danger, hunger, thirst, and great uncertainty and marked the beginning of a journey that would shape Zamani’s worldview and business philosophy. In his book"Crossing the Desert: The Power of Embracing Life’s Difficult Journeys," Zamani reflects on the lessons he learned from his early experiences."The only constant is change itself," he writes, highlighting how his journey taught him to approach life’s uncertainties with hope rather than fear. This mindset would later become a cornerstone of his entrepreneurial ventures, where resilience and adaptability are essential.Zamani may be best known as the co-founder of AutoWeb, one of the first internet companies to introduce performance-based marketing, a model that revolutionized online advertising. Under his leadership, AutoWeb grew rapidly, eventually going public and achieving a valuation of over $1 billion in 1999. Despite this success, Zamani reflects on his dismay within the conventional capitalist framework that prioritizes profit over purpose. Trump Rally Speaker Tony Hinchcliffe Calls Puerto Rico ‘Floating Island Of Garbage’—Campaign, GOP Lawmakers ReactHarris And Trump’s Biggest Celebrity Endorsements: 49ers’ Nick Bosa Shows Off MAGA Hat—As Bad Bunny Backs Harris "I had unknowingly become a pawn in a version of capitalism that leaves us all empty in so many ways," Zamani recalls, recognizing the impact of a venture capital and IPO system that “set up the company for failure” . Zamani’s realization led him to rethink his approach to business and he ultimately founded One Planet Group, a purpose-driven private equity firm that aims to blur the lines between for-profit and non-profit enterprises. One Planet Group owns online technology businesses ranging from a leading auction marketplace for online marketing to a luxury travel membership club and invests in a broad range of early-stage ventures, from edtech to the future of mobility and health technology. The common thread running through One Planet Group is Zamani’s “innovation + intention” philosophy, which supports strong business ventures while serving humanity.At the heart of Zamani’s philosophy is what he calls"spiritual capitalism." This approach is rooted in the belief that businesses can be a force for good without sacrificing profitability. Zamani advocates for a model where companies not only pursue financial success but also contribute to the betterment of society."There is a way for us to build great businesses but also bring that sense of joy and fulfillment that we all need, which is only achieved when we are in service to others," he emphasized in an interview. One Planet Group embodies this philosophy by integrating values like unity, intention, and truthfulness into its operations. For Zamani, these values are ethical guidelines and practical tools that enhance business performance. He argues that by committing to these principles, companies can build stronger, more loyal relationships with employees, customers, partners, and the broader community."The interesting thing is that these spiritual values allow us to build a more profitable business," Zamani asserts, challenging the conventional wisdom that sees ethics and profitability as mutually exclusive or at least unrelated goals. He points to the success of AutoWeb's turnaround following its acquisition by One Planet Group as an example. Within a year of going private under One Planet Group, AutoWeb achieved the highest employee retention in One Planet Group’s portfolio, became its most stable business, and became very profitable. “I believe that was a direct outcome of the values we have that people trust and we live by,” Zamani said.Zamani’s vision extends beyond his ventures. He believes the broader business community must embrace a more people-centric capitalism. This shift, he argues, is not only morally right but also economically advantageous."People need to see that by committing to this approach, they are not giving up the idea of building a successful business," he says, pointing to the long-term benefits of cultivating a purpose-driven corporate culture. Zamani also critiques the traditional venture capital model, which often pressures entrepreneurs to prioritize short-term gains and growth at any cost over sustainable growth. He advises first-time founders to be cautious about taking too much funding too early, as it can lead to a loss of control and a dilution of their company’s mission."Don’t rush into getting funding, and definitely don’t take too much," Zamani warns, highlighting the importance of maintaining a company’s core values as it scales.Payam Zamani’s journey from refugee to successful entrepreneur and private equity investor offers a powerful testament to the potential of integrating purpose and faith into business. His concept of spiritual capitalism challenges the status quo, proposing a model where companies can achieve greater financial success by contributing to the common good. As more businesses and investors consider the benefit of purpose-driven strategies, Zamani’s vision for profitable businesses that lead positive change stands out. Zamani’s approach offers a roadmap for building companies that are not only profitable but also meaningful. His life and work remind us that true innovation is not just about technological advancements but also about reimagining the principles underpinning our economic system.Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.Insults, profanity, incoherent, obscene or inflammatory language or threats of any kindContinuous attempts to re-post comments that have been previously moderated/rejectedAttempts or tactics that put the site security at riskProtect your community.
Please follow us on Google to support usAutoweb Private Equity Future Of Business Unicorn Founder Iran One Planet Group Purpose-Driven Capitalism Capitalism
United States Latest News, United States Headlines
Similar News: You can also read news stories similar to this one that we have collected from other news sources.
The Family Factor: for KING + COUNTRY’s Roots Drive Their InnovationHeather Wishart-Smith is a board director who has covered innovation since 2020. She advises corporations and investors on strategy, growth, leadership, and innovation. Wishart-Smith is on the boards of Orion (Nasdaq: OESX) and Group PMX, and previously led technology and innovation for Jacobs.
Read more »
Nara Smith, Lucky Blue Smith Help Tiffany & Co. Dazzle Dallas With Boutique OpeningNara Smith and Lucky Blue Smith celebrate Tiffany's new store at Dallas NorthPark Center.
Read more »
'Jack Smith is a scoundrel': If reelected, Trump vows to fire Smith 'within 2 seconds'Former President Donald Trump said Thursday that if he wins the White House, he will fire special counsel Jack Smith 'within two seconds' of taking office.
Read more »
'Jack Smith is a scoundrel': If reelected, Trump vows to fire Smith 'within 2 seconds'Former President Donald Trump said Thursday that if he wins the White House, he will fire special counsel Jack Smith 'within two seconds' of taking office.
Read more »
'Jack Smith is a scoundrel': If reelected, Trump vows to fire Smith 'within 2 seconds'Former President Donald Trump said Thursday that if he wins the White House, he will fire special counsel Jack Smith 'within two seconds' of taking office.
Read more »
'Jack Smith is a scoundrel': If reelected, Trump vows to fire Smith 'within 2 seconds'Former President Donald Trump said Thursday that if he wins the White House, he will fire special counsel Jack Smith 'within two seconds' of taking office.
Read more »