Philippe Cousteau Jr. Is In It For Love And Money | Fast Company: In the wake of the recession, Cousteau began to wonder if the not-for-profit system itself was flawed. "I've been a grant seeker all my life," he says. "But when I apply for one and get it, that means someone else doesn't. I didn't want to be a part of that anymore. I wanted to contribute to that pool and make it bigger." So two years ago, he began considering other possibilities.
Soon enough, Cousteau settled on starting a socially responsible exchange-traded fund (ETF), similar in many ways to a traditional mutual fund, which is open to institutional and individual investors alike. (A main difference is that shares in an ETF can be traded on a stock exchange.)
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