Oyster's Jack Mardack: Why Impact Investing Needs a Rewrite

Jan de Vries · 2026-10-29

Jack Mardack has a bone to pick with how most companies handle impact. As co-founder of Oyster, the global employment platform that hit unicorn status while holding B Corp certification, he's seen firsthand how the perceived trade-off between profit and purpose is often a design flaw, not an economic law. In a recent conversation recorded ahead of the MeOut Summit in Budapest, Mardack sat down to unpack why impact should be baked into a business model from day one, not bolted on as an afterthought. Here's what he had to say. ### Impact by Design vs. Impact by Intention Most founders start with good intentions. They want to do good in the world. But according to Mardack, that's not enough. "Impact by intention is a values commitment," he explains. "Impact by design is when you build it into the very structure of your business." The difference matters. Investors can tell the difference between a company that talks about impact and one that can prove it. And increasingly, they're funding proof, not promises. - Impact by intention: A company donates a portion of profits to charity. - Impact by design: A company's core product solves a social problem, and its business model scales that solution. Mardack argues that the perceived trade-off between financial success and impact is a design failure. When impact is an integral part of the business, you don't have to choose between doing well and doing good. ### The ESG Scorecard Is Dead. What's Next? The ESG (Environmental, Social, and Governance) scorecard has become more ideological than useful, says Mardack. "The debate has become polarized," he notes. "But the impact investing market has already moved past that argument." So what replaces the scorecard? According to Mardack, it's evidence. Investors should fund proof of impact, not claims. That means measurable outcomes, transparent reporting, and a willingness to be held accountable. > "The impact investing market suggests investors have already moved past the ESG argument. They're looking for evidence, not ideology." - Jack Mardack ### A Ten-Year Vision for the European Workforce Looking ahead, Mardack envisions a European workforce that finally connects talent, capital, and opportunity across borders. "Europe is measuring itself against the US on the wrong dimensions," he says. "It's not about who has more unicorns. It's about who can create a more inclusive and sustainable economy." If Europe gets better at connecting these dots, the next decade could see a workforce that's more mobile, more skilled, and more aligned with the values of the next generation. ### The Role of a Chief Impact Officer Mardack also sheds light on what a Chief Impact Officer actually does day to day. It's not just about philanthropy or PR. It's about integrating impact into every aspect of the business, from product development to supply chain management. "It's a design challenge," he says. "You're constantly asking, 'How can we do this better?' Not just for profits, but for people and the planet." ### The Book: Impact Unleashed Mardack's book, "Impact Unleashed: Building Businesses That Scale Positive Change," dives deeper into these ideas. It's a practical guide for founders and investors who want to move beyond good intentions and build impact into the DNA of their companies. At the MeOut Summit in Budapest, Mardack will be sitting down with the founder of Hungary's first B Corp to discuss these themes and more. It's a conversation worth following, especially for anyone who believes that business can be a force for good. For US entrepreneurs and investors, the takeaway is clear: impact isn't a niche. It's a design principle. And the companies that figure that out first will be the ones that lead the next decade.