This paper explores the connection between knowledge and values (which I call careabouts) and argues that knowledge modeling using AI techniques will be most effective in assisting knowledge managers if both knowledge and careabouts are modeled. The paper presents seven major claims; one business "case study" is used to illustrate each of them. (1) To manage knowledge, we must fLrst understand that knowledge and values (careabouts) are intimately connected. (2) Epistemologists are increasingly aware of the knowledge-careabout link. (3) Recent work in cognitive science on the connection between reason and emotion also supports the knowledgecareabout link. (4) Knowledge workers create different rived realities. (5) Cultural diversity in the workplace accentuates these differences to the extent that cultural differences create differences in careabouts. (6) Creating and sharing knowledge-careabout models creates a new corporate reality of understanding and facilitates knowledge management. (7) AI technology can be used to facilitate the modeling knowledge and careabouts.