A Conscious Innovator Takes on Big Data & Human Rights

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In July 2022, our Board member Sashi Edupuganti was humbled and honored by CxO Outlook as one of the 10 most inspiring entrepreneurs. While we celebrate his achievement, we want to give our community a chance to get to know him better.

Every time you or I go online, the trail of our digital footprints gets bigger. With the ever-growing volumes of data being processed by social and media sites and streamed daily, data brokers have found new methods to make vast profits as they sell the same data many times over. Now, however, enterprises are turning to data monetization to build brand loyalty and trust.

This journey began for Sashi, who is Founder & CEO at ODE Holdings, when his youngest child, then eight years old, in 2019, wanted to become a social media influencer and star. As a parent, he felt a sense of duty to support his children’s dreams while simultaneously protecting them from the perils of social media. As he was exploring the risk and dangers of the digital landscape, he started to develop a hypothesis about how to create a world where we all could trust our digital footprints on the web. 

The company was founded with the vision to create a new ‘Future of Consumer Data,’ creating a balanced and ethical data ecosystem. ODE uses state-of-the-art and emerging technologies to solve problems that widely impact consumers and corporations. While developed nations will benefit tremendously, the company expects that developing nations will reap the rewards of being able to monetize their data and create economic balance as they have not yet experienced the impact of the potential threat. “Not only are we helping enterprises grow, we are creating a micro-economy for a large portion of the world; the ability to get meaningful dollars into their pockets makes a big difference in their lives. This, in addition to addressing the fundamental data privacy and compliance exposure for the stakeholders,” says Sashi.

Sashi tells us how ODE has surpassed most of the existing and new market players with its blockchain and AI-powered integrated platform, Web 3.0. ODE is one of the only players in the market with the mission to disrupt the world of data and to create a two-sided marketplace where enterprises and consumers mutually benefit from data protection, organic compliance, and a shared monetization strategy.

ODE uses permissioned data from the consumer to support Enterprise analytics needs.  The Enterprise sets up funds that are decremented every time analytics are run while monetizing the consumer who has consented to allow use of their data for analytics.  Under no circumstances will data that is personally identifiable (PII) or private be revealed.

Data monetization offers benefits such as cost reductions, revenue growth, and opportunities to develop new services. Enterprises which build trust with their consumer community will build more brand loyalty leading to future success.  

The ODE mission is to develop the data layer for Web 3.0 in which the data is decentralized and is stored in the consumer secure data vault.  Data is only shared when consented by the consumer leading to data sovereignty and data privacy.  This allows for the storage of data and the analysis of the data to provide insights while reducing risks and significant penalties based upon emerging legal requirements and regulations.

If companies wish to monetize data resources securely and ethically, they must do so in a way that protects the privacy of both the consumer who uses the new monetization service and the data itself. This necessitates enterprises clearly defining and comprehending what it means to use data safely. The adoption of a data-centric approach to security is becoming more common as a result of this discovery process.

Imagine a world where large organizations give consumers the capability to secure their data inside a secure vault. Only the consumer decides which data to share, and when they share, they receive compensation, can monetize, and rightfully get paid for what is theirs in the first place – their own data. We, the consumers, are the rightful owners after all!

In the words of CXO Outlook magazine, “ODE has forged deep relationships with prominent, well-known brands worldwide, making moves in the Telecomm, Financial, and Healthcare industries in a short period.”  And according to Sashi, “Conditions are right for consumer data monetization. Web 3.0 plus regulations plus high costs of data breaches – we have the perfect conditions for change.”  

We couldn’t be more proud! 

More about Sashi Edupuganti.

Meet our other Board members HERE. 

Can Lawyers be Conscious Capitalists?

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By Soledad Matteozzi

We are used to identifying conscious businesses with companies that take ownership over their impact on the planet and are built around values to make positive change. Great companies such as Patagonia, Unilever, Natura come to mind. However, we may not tend to think of law firms as conscious organizations.

I will argue that today, the law profession is shifting and it is a great place for any Conscious Capitalist to create positive change. Being a lawyer myself, and after joining the Board of Conscious Capitalism Connecticut, I conducted research on what law firms are doing in terms of sustainability and what role they are playing in helping their clients adapt to new Environmental, Social and Governance (ESG)/Sustainability demands. I was glad to learn that many law firms are deeply invested in incorporating ESG/Sustainability into their practices leading the way to a different way of doing business. Yet, there are many firms that need to better understand how to transition their practice to this new paradigm.  With the idea of learning from what leaders in the industry are doing, I co-moderated a panel discussion with Gayatri Goshi, the Executive Director of the Law Firm Sustainability Network where speakers Pamela Cone, Founder and CEO of Amity Advisory, and Alison Torbitt, Partner at Energy and Environmental Group at Nixon Peabody law firm, shared their valuable perspectives on the challenges and opportunities for law firms today. 

We had a one-hour highly active discussion, with great questions from the audience, who seemed engaged and eager to learn.

The following items are the main takeaways. It is my hope  that this information is useful for you and that more law firms locally get inspired to take the leap and join this movement:

  • The results from a survey conducted by the Law Firm Sustainability Network showed that 96% of law firm respondents affirm that clients are demanding them to report on their ESG/Sustainability efforts in Request for Proposals. Why? Because today law firms are considered part of their client’s supply chain and therefore a key element in their ESG efforts, especially when measuring scope 3 carbon emissions.  To remain compliant with their own targets, most clients require law firms to demonstrate their ESG/Sustainability measures and credentials in their Requests for Proposals. Therefore, it is fair to say that the absence of a sustainability strategy and ESG reporting presents a risk for business continuity. I understand that a solid ESG strategy could not be the main selection criteria when hiring a lawyer, but the absence of it could put your firm at a serious disadvantage.  
  • Clients are becoming more sophisticated in ESG and they are demanding knowledge and understanding of ESG from their advisors to help them transition to more sustainable practices.  Buyers of legal services confront a growing list of environmental and social issues that pose serious risks and opportunities for their businesses. Lawyers today have the opportunity to work with their clients to ensure they address these risks and maximize opportunities. But, to do that, lawyers need to be knowledgeable on ESG issues.
  • The regulatory landscape is shifting to incorporate elements of ESG. Clients need their lawyers to help them mitigate risks and identify opportunities. As lawyers, we need to be prepared to advise clients on thinking through and considering the impact, and the financial and reputational risks associated with environmental and social issues arising from new regulations affecting our clients’ businesses. 
  • The new generation of lawyers is demanding law firms to walk the talk.   Entry-level associates are increasingly requiring law firms for their ESG credentials. The younger generation of attorneys and potential new hires ask questions about diversity, equity, inclusion, and environmental policies. New generations of talent want something more than just a paycheck; they want to join law firms and organizations that reflect their values and beliefs. Having a clear Sustainability/ESG strategy can help differentiate firms bidding for conscious talent.
  • Law Firms are moving away from a “good to have” policy, to make it part of their business strategy. Historically law firms have seen their social and environmental impact as not material but as a nice program to have. Today, they are developing robust programs that actually generate a positive impact.   Alison Torbitt explained that at Nixon Peabody, they started by classifying their sustainability initiatives into three buckets: internal, external-billable, and external-non billable. Internal mainly includes diversity, equity, inclusion, and wellness initiatives. External billable is their consulting work regarding sustainability/ESG mitigation, and contamination remediation. Finally, their external non-billable category represents their pro bono commitments and their donations to socially and environmentally friendly nonprofits and start-ups.  She explained that today their current efforts are focused on their purpose and impact. Leadership is reflecting on: As a law firm, how can they positively impact everything they do? They are working on a strategic impact that brings all sectors of the business together – every practice group, management, business development, marketing, communications, operations, procurement, and compliance. 

It is not about reinventing the wheel but seeing the law profession through a new perspective. For this purpose, it is crucial to have a cross-sector approach and stop acting and thinking in silos. Law firms need to connect the dots and practices and get everyone involved. 

My Reflection

Law firms and lawyers have always had an important role in our society. Lawyers are trusted advisors to their clients and have historically helped shape and drive change and business behavior.

Today, as Pamela Cone mentioned on our panel, they have the opportunity of a lifetime to help their clients transition to more conscious practices and behaviors. This transition is both the most significant challenge and the biggest opportunity for the legal profession. While doing so, they also need to build their internal sustainability programs and lead by example.

Lawyers that become conscious capitalists will not only help save our world but also be successful while doing so. 

Are you interested in learning more about Membership in our organization? Monthly events like this are free, plus networking and other benefits.

LEARN MORE

Soledad Matteozzi

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Soledad Matteozzi

Board Member

Why do we need a new way of doing business?

The world is changing rapidly, and technology has further accelerated this process. Consequently, today we can achieve things we would have never imagined only a few years ago. Still, at the same time, we can measure more precisely the impact that progress is having on the planet and its inhabitants. The world has also become a lot more interdependent. All these changes call for new and creative solutions. We cannot afford to finance current growth at the expense of future generations, and a system that exhausts the resources it needs to keep going is not viable. Most of us have noticed this dynamic, and younger generations are making their voices heard. In this scenario, businesses cannot just exist to generate profits at all costs. The future of businesses must include a broader paradigm that includes all stakeholders and looks not only at results but also at how those results are generated. Those who understand this new reality and adapt will become more resilient and thrive; those who do not will struggle, eventually becoming irrelevant.

How have you helped make the world a better place?

I believe that contributing to a better world starts with each of us, how we behave with one another, and the goals that we pursue. One of my key goals is to create a positive change through my work, and that is why I decided to shift my career from traditional Corporate Law to the ESG space. I co-founded Thinking Beyond Business to help small and medium-sized businesses grow and become more profitable while operating in a socially and environmentally friendly way. My personal story is that of a modern global citizen, I was born in Latin America, and life has taken me to live and work in different countries across four continents. I aspire to contribute a global and inclusive perspective, and my professional expertise, to making the business world a positive force for change.

What does Conscious capitalism mean to you?

The push towards conscious capitalism means that all of us, but particularly our leaders, should be not just aware but deeply understand the interdependence and impact across individuals, organizations, and the environment, as we pursue our business goals. Conscious capitalism is not just a theory; it is about finding practical answers and creative solutions to the current business challenges. It is about helping businesses thrive by generating sustainable profits in an ecosystem that considers all stakeholders involved.

Black Dreams Matter

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Black Lives Matter CT

“Black Dreams Matter,” “All Black Lives Matter,” and “Love the Skin You’re In” were just a few of the messages emblazoned with colorful chalk on the West Haven Green July 16th when a protest for racial equity decided to feature their community’s secret weapon  – ARTISTS! 

Conscious Capitalism, Connecticut Chapter, sponsored a community chalk drawing party as prelude to a semi-permanent public mural with the Black Lives Matter theme. As noted in The New Haven Register, the main thrust of such an endeavor is “to inspire.”  In alignment with our tenets, we view this as developing conscious culture and conscious leadership in an entire community. The full news article about this project and our sponsorship can be read here. 

Conscious Capitalism, Connecticut Chapter, has a relationship with West Haven, Connecticut via its current President, Gavin Watson, formerly of Watson, Inc., a company near Yale West Campus that employs over 300 people. You can read Gavin’s bio HERE. It was inside his family business that Gavin gained an appreciation for the importance of community engagement. So today, under his leadership, the Connecticut Chapter of Conscious Capitalism respects and supports creativity as a constructive force – probably the most important force – in the battle for changing hearts and minds. 

Black Lives Matter CT

This is why, when West Haven organizers added a Community Chalk Drawing Party to their proceedings in an afternoon already bursting with creative talent, we decided to be on the scene and supply the chalk.  As you can see, it was put to great use! 

Black Lives Matter CT

Mural locations for a more permanent message along similar themes are now being discussed with city officials. According to West Haven youth and community organizer Brandon Patterson,  “The goal is to unify West Haven around a strong public statement regarding our values as an inclusive community. This is anticipated to have long-term positive effects as a driver for social cohesion, entrepreneurial diversity and economic growth.” 

Black Lives Matter CT

Meanwhile, Executive Director Glen McDermott has been meeting with New Haven officials about their designs for Black Lives Matter – themed public art. So far, artists have been called to submit plans. According to Gage Frank, Community Development Director and Adriane Jefferson, Director of Cultural Affairs, a community mural painting project is scheduled for August. Watch on our social media for announcements as we learn more!

Paul Murphy

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Paul Murphy

Board Member

Why do we need a new way of doing business? 

The world is changing rapidly and there is an increasing realization that the current win/lose approach not working for most stakeholders.

People need the dignity of work, but they also need to be able to work with dignity and purpose. Conscious Capitalism is the next logical evolution, building on lean manufacturing principles. It provides a more balanced, thoughtful approach to doing business while yielding superior sustainable results for all stakeholders over the long term.

Give us an idea of how have you helped make the world a better place? 

My focus for the last 30 years has been on developing engaging lean manufacturing cultures at different companies. By clarifying the mission, vision, values, and purpose at each company we have been able to create a more engaging environment for all employees. I cannot say that I have made the world a better place, but what I can say is that I tried to create a healthy work atmosphere focused on the why and not just the what or the how. This provided people with an opportunity to engage in meaningful, purposeful work each day. To have a successful career or a calling and not just a job.

What does Conscious capitalism mean to you? 

It is a validation of what I have believed since being introduced to lean manufacturing 30 years ago. It is a recognition that not all Capitalism is made equal. It is a confirmation that there is a better way of doing business, that is principle-based and it does not involve destroying the soul or the environment to win. It is a noble path forward for all young aspiring business leaders to follow that can lead to both financial success and professional happiness.