UL created a for-profit entity because it recognized that serving customers well required one.

“and there are maybe also good people but their profit incentive was let's prevent houses from burning down let's test all the electrical products the light bulbs all the light bulbs in here are probably you all tested the toasters etc and they set up an entity to create those standards today ul has a for-profit entity and a non-profit entity um where they've recognized they spun out they started a non-profit they spun out a for-profit because what they recognized was like hey actually to serve”

“Serve customers well.”

“You need a for-profit entity.”