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Karma Capitalism: Why Being a Good Business is Good Business
‘In an age where CEOs have become rock stars through cross-cultural appeal, James Reed is a proper stadium filler’ DAILY MIRROR
‘A compelling, highly readable, case for PhilCos - or philanthropy companies - where at least 10% of shares are owned by a charity or foundation. [James Reed] calls it “Karma Capitalism” and believes its an innovative way for firms to deliver profits and social currency ... With increasing cynicism about old-fashioned, short-termist thinking among customers and employees, this is a refreshing and inspiring read’ DAILY EXPRESS
‘Karma Capitalism is a persuasive exploration of how to do business differently & to shrink the divide between the haves and have-nots. PhilCos’ harmonising of business & philanthropic practice is an effort to share wealth, keeping government small & making capitalism sustainable. In a nutshell, philanthropy companies have soul’ ANTONIA FILMER, SUNDAY GUARDIAN
'James Reed is this country's leading voice on effective, strategic philanthropy. His new book is both a persuasive argument for the PhilCo movement and a call to arms for entrepreneurs and executives who want to make the world – and their own companies – a better place. Read it, then go and put his ideas into action.' EDWIN SMITH, EDITOR-IN-CHIEF OF SPEAR'S MAGAZINE
'If you believe, as every successful business leader should, that giving back must be baked into your DNA, then James Reed provides the recipe' DAME IRENE HAYS, OWNER AND CHAIR OF HAYS TRAVEL
'Now that I’ve read this book, I cannot unsee the potential and necessity of Karma Capitalism and the concept of a PhilCo. I will be building these ideas into my business from day one' SHARMADEAN REID MBE, FOUNDER, CREATIVE CONSULTANT AND ADVOCATE FOR WOMEN'S EMPOWERMENT
‘Businesses (when they’re not cheating you out of your pants) have the power to transform and support our society for the better and James Reed’s insightful book tells us exactly how. I know him personally and believe these ideas could lead the way’ RUBY WAX, COMEDIAN, PERFORMER AND BESTSELLING AUTHOR
What's the point of a business without a purpose?
James Reed, Chairman and CEO of Reed and author of Why You? 101 Interview Questions You'll Never Fear Again, is on a mission to reform capitalism. Corporations, he argues, are largely ignoring their employees, customers and wider community in the pursuit of short-term gain and profit, while charities suffer in the wake of the pandemic and cost-of-living crisis. However, there is an alternative.
In his most important business book to date, James sets out his vision to encourage a whole new generation of PhilCos – philanthropic minded businesses with at least 10 per cent of shares owned by a charitable foundation. Inspired by his own company's commitment to charity, James shares how PhilCos are more likely
- Stay in business for 40 or more years
- Foster shareholders that work toward a lasting legacy
- Retain and motivate colleagues
- Improve lives through charity work
Best of all, being a PhilCo isn't a different way of doing business. It is a different way of being a business. Based on his own experiences of running Reed as a PhilCo – and drawing on examples of other successes including IKEA, Lego and Rolex – James explains how to choose the right business model for your PhilCo, how to establish a charitable foundation and how to reinvest your profits to make the most impact in the sho
‘A compelling, highly readable, case for PhilCos - or philanthropy companies - where at least 10% of shares are owned by a charity or foundation. [James Reed] calls it “Karma Capitalism” and believes its an innovative way for firms to deliver profits and social currency ... With increasing cynicism about old-fashioned, short-termist thinking among customers and employees, this is a refreshing and inspiring read’ DAILY EXPRESS
‘Karma Capitalism is a persuasive exploration of how to do business differently & to shrink the divide between the haves and have-nots. PhilCos’ harmonising of business & philanthropic practice is an effort to share wealth, keeping government small & making capitalism sustainable. In a nutshell, philanthropy companies have soul’ ANTONIA FILMER, SUNDAY GUARDIAN
'James Reed is this country's leading voice on effective, strategic philanthropy. His new book is both a persuasive argument for the PhilCo movement and a call to arms for entrepreneurs and executives who want to make the world – and their own companies – a better place. Read it, then go and put his ideas into action.' EDWIN SMITH, EDITOR-IN-CHIEF OF SPEAR'S MAGAZINE
'If you believe, as every successful business leader should, that giving back must be baked into your DNA, then James Reed provides the recipe' DAME IRENE HAYS, OWNER AND CHAIR OF HAYS TRAVEL
'Now that I’ve read this book, I cannot unsee the potential and necessity of Karma Capitalism and the concept of a PhilCo. I will be building these ideas into my business from day one' SHARMADEAN REID MBE, FOUNDER, CREATIVE CONSULTANT AND ADVOCATE FOR WOMEN'S EMPOWERMENT
‘Businesses (when they’re not cheating you out of your pants) have the power to transform and support our society for the better and James Reed’s insightful book tells us exactly how. I know him personally and believe these ideas could lead the way’ RUBY WAX, COMEDIAN, PERFORMER AND BESTSELLING AUTHOR
What's the point of a business without a purpose?
James Reed, Chairman and CEO of Reed and author of Why You? 101 Interview Questions You'll Never Fear Again, is on a mission to reform capitalism. Corporations, he argues, are largely ignoring their employees, customers and wider community in the pursuit of short-term gain and profit, while charities suffer in the wake of the pandemic and cost-of-living crisis. However, there is an alternative.
In his most important business book to date, James sets out his vision to encourage a whole new generation of PhilCos – philanthropic minded businesses with at least 10 per cent of shares owned by a charitable foundation. Inspired by his own company's commitment to charity, James shares how PhilCos are more likely
- Stay in business for 40 or more years
- Foster shareholders that work toward a lasting legacy
- Retain and motivate colleagues
- Improve lives through charity work
Best of all, being a PhilCo isn't a different way of doing business. It is a different way of being a business. Based on his own experiences of running Reed as a PhilCo – and drawing on examples of other successes including IKEA, Lego and Rolex – James explains how to choose the right business model for your PhilCo, how to establish a charitable foundation and how to reinvest your profits to make the most impact in the sho
209 pages, Kindle Edition
Published November 6, 2025
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March 17, 2026
I have now worked in recruitment for nearly 25 years and my first job could be said to be a role immediately after finishing University in the Reed CV centre where I typed up CVs that were faxed into the office, all marked "urgent". It wasn't a very brain stimulating job, lots of touch typing, but I did enjoy the occasional opportunity to be a bit creative such as the CV I amended from a young lad in Bradford who had listed his interests as "Pubbing, Clubbing and Women" to "Socialising" which I hope improved his employment prospects!
I picked up this book via Audible as the title spoke to me - I have always operated my career in recruitment on the basis if you help people and create positive karma, it should find it's way back to you in some way. And this book certainly delivered a good insight into how being a good company really can lead to a positive commercial outcome.
James Reed is the son of Alec Reed who founded the Reed Group who are a large global recruitment business, but who do more than just recruitment including supporting people back into work and more recent ventures into AI. I have come across Reed as a competitor within my career from time to time, what I hadn't appreciated is that after Alec Reed's brush with serious ill health he took a decision to transform the structure of Reed into a PhilCo (a philanthropy company) and it is now 18% owned by a charitable foundation that means they can say that all their employees work 1 day a week for charity.
The book is an accessible business read and gives insights into successes and failures of different types of business structures, how shareholdings originally were formed and how different companies approach company structures and how in Denmark the PhilCo model is far more common (Lego being one of them). It has hints of how to set up or change a company into a PhilCo as well as some "tales from the sharp end" that are case studies of different companies. He also echoed a personal frustration I have where companies are now required to jump through ESG hoops that seem a mere tick box exercise, rather than making a more meaningful contribution to a better society that aligns with a company purpose for example I have worked for previous recruitment businesses who would promote their carbon net zero success by spending money on carbon offsetting credits, but consistently "reward" consultants with helium balloons for photo opportunities!
The audible book was narrated by James Reed who is a clear and engaging speaker and it's easy to listen to and digest. I will certainly revisit this book as it was both insightful and educational and as a recruiter it's a directly relevant read for me. It also gives me hope that we can move our society away from capitalism at all costs to a kinder and more collaborative "Karma Capitalism". If we all win, we all win.
I picked up this book via Audible as the title spoke to me - I have always operated my career in recruitment on the basis if you help people and create positive karma, it should find it's way back to you in some way. And this book certainly delivered a good insight into how being a good company really can lead to a positive commercial outcome.
James Reed is the son of Alec Reed who founded the Reed Group who are a large global recruitment business, but who do more than just recruitment including supporting people back into work and more recent ventures into AI. I have come across Reed as a competitor within my career from time to time, what I hadn't appreciated is that after Alec Reed's brush with serious ill health he took a decision to transform the structure of Reed into a PhilCo (a philanthropy company) and it is now 18% owned by a charitable foundation that means they can say that all their employees work 1 day a week for charity.
The book is an accessible business read and gives insights into successes and failures of different types of business structures, how shareholdings originally were formed and how different companies approach company structures and how in Denmark the PhilCo model is far more common (Lego being one of them). It has hints of how to set up or change a company into a PhilCo as well as some "tales from the sharp end" that are case studies of different companies. He also echoed a personal frustration I have where companies are now required to jump through ESG hoops that seem a mere tick box exercise, rather than making a more meaningful contribution to a better society that aligns with a company purpose for example I have worked for previous recruitment businesses who would promote their carbon net zero success by spending money on carbon offsetting credits, but consistently "reward" consultants with helium balloons for photo opportunities!
The audible book was narrated by James Reed who is a clear and engaging speaker and it's easy to listen to and digest. I will certainly revisit this book as it was both insightful and educational and as a recruiter it's a directly relevant read for me. It also gives me hope that we can move our society away from capitalism at all costs to a kinder and more collaborative "Karma Capitalism". If we all win, we all win.
Displaying 1 of 1 review