The long-standing American business "custom" to maximize profits for shareholders, irrespective of stakeholders’ concerns, is wrong. It is based on a misconstruction of a Michigan court’s decision in 1919 regarding the distribution of Ford Motor Company’s excess $10M profits, and an argument in Milton Friedman’s 1970 New York Times article that a corporation’s "social responsibility" is to make money. There is no US legal requirement that a corporation should maximize profits for shareholders. As such, any legal purpose including decisions that will not harm people or the environment is an acceptable purpose. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at http://www.hult.edu/en/executive-education/