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Jacqueline Novogratz

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106
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2024-07-26
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2024-07-26
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  1. “Thank you, Tim. And I'm just so honored truly. I feel so, so privileged. And thank you too for making manifest the heart and the soft. What we need to do in our world together, and so looking forward to many comments. And I wish you good luck on this.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  2. “For each other. And I hear that in different conversations that you've been having with people. And I'd love to go there too. Finally, I would just love to say you're really one of a kind, Tim Ferris. And the prep and the curiosity that you bring, and frankly the love that you bring to every conversation and to the work that you're doing is really unparalleled. When I think of true moral imagination, it's based in a deep curiosity. and people who are willing to follow that thread of curiosity to wherever it might lead. And so thank you for modeling that for all of us.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  3. “We are at a moment in history where we have to learn how to find each other across what might seem like impossible divides to cross. And yet we're all we have each other. And we're on this earth for a short time. And it's up to us to be a generation that actually gets stuff done rather than being seen as being blind and disconnected from one another. And so Acumen has worked for 20 years in communities where people are raised to hate each other. And when I think about who our global community is, it also has been raised with many, many different people who were taught to hate each other. And yet it is possible to build out of diversity a sense of wholeness, but not if we just focus on what we're getting from an organization or a nation or community, but the responsibility that we have.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  4. “Long, but because of the vulnerability and the real courage that you've shown in your podcast with Debbie Millman, there was a whole set of muscles that went untended and that the key to us becoming not just good at what we do or famous or what have you, but becoming wise is to learn how to flex those muscles of courage that we don't always flex. And I think this is another moment in history that really demands that of us. And third, I'd love to go deeper into the holding of tensions.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  5. “You really are. There are many things that I'd like to talk about in terms of what it actually means to bet on character. That I think that one of the mistakes I made at the beginning of acumen was to be so excited by a particular technology or business idea. And over time, understanding character. And that you used a lot of the words, the grit, the resiliency, the vision, the ability to take feedback. A whole other conversation I'd love to have with you is on courage. I shared with you at the beginning of this that you do remind me of my brothers plural and that you've got just an extraordinary level of what looks like fearlessness. And I'm betting that you've learned to flex those fearlessness muscles early in your life and you practice them all.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  6. “I really appreciate that you are even asking me that opportunity, giving me that opportunity. And I think another reason that I probably know when to say your name or not or don't even know, but without meaning to flatter, you truly are deeply engaging, conversationalist, an interviewer. And I really appreciate that. Yeah.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  7. “I think it goes, I actually think it goes to immersion, which is probably why I didn't get to talk about many of the things I really wanted to talk about because I just get so focused on who you are, what you're talking about that no, it's not conscious. It's not conscious. So I wish I had a better answer.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  8. “Tim, you're making me laugh. You're reminding me of the first book thing I did with Blue Sweater and I got off the stage and a famous actor came up to me and said, oh my God, you do real so well. And I was like, Excuse me”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  9. “Asking these questions of how do you change the world? How do you change the world? How do you change the world? I actually think it's about getting started where you can with what you have and who you are. But it's also about asking yourself the question, not, am I making more money? Am I richer or favus, more favus, more beautiful today, but rather what am I doing in the way that I run my business, in the way that I invest my dollars, in the way that I interact with everyone from the waiter to the president of some fancy bank? What am I doing to insist on, elevate, and enable human dignity? I would start there, and then I'd get smart.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  10. “Network of development entrepreneurs is probably the best Andy Ande.org, I think. And so get smart. Learn on the Acumen website are also all of our companies and the stories of many of them that give a real sense, again, not only of the possible but of ways that people can get involved. As I said, Tim, all of our actions increasingly matter. And so paying more attention to where and how we buy and giving ourselves license within our communities to be a little radical in the way that we might make sure that we're investing in each other and giving back more than we take, I think becomes a mantra every day. Having my brother Michael at Galaxy and going such different routes as young people and yet all along the way.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  11. “Mean, I appreciate the self promotional invitation there, Tim. If I'm going to go down that path, I would say The symbolist next step would be to get on to Acumen Academy on our website and check out the courses, including the Pathomoral Leadership that Seth Godin, who's so extraordinary in every way, has helped us build, which takes the different practices of the book and really looks at the examples of companies that go from chocolate and coffee in Colombia to bed nets to chickens in Ethiopia and really show some of the fundamental business models that have enabled extraordinary levels of change as well as identified role models. So I would get on to the acumen academy. The second would be both for institutional and individual, there are increasingly trade associations, for lack of a better word, that can direct you to really strong impact investors.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  12. “Actually, investing for good, we are going to continue to build more and more inequality in ways that are fully unsustainable for this world. It has been really exciting to me to see not only a $700 billion impact investing sector emerge over the last 20 years, but also to see big companies like BlackRock and others say enough. But we've got to move from a place where we do no harm to one where real investing is not only accounted for by what a few shareholders earn, come what may. But that real investing is truly measured by the amount of the jobs, the beauty, the human capability, the opportunities that are enabled in the world.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  13. “If I were, and I am, a divestor that really cares about impact, I would urge myself and urge everyone else to think more expansively about themselves as investors using all the tools at our disposal. And for the big institutions, I would say one thing, that as long as we have an investment model that is still based on extraction rather than”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  14. “Usually expects that you will have your own capital to put into the system from the beginning. So he's created a university and he's now raised probably three of $13 million, seven-year debt at 2%. That will allow him to identify the entrepreneurs amongst his employees, give them the opportunity to start their own franchise, enable them to have $40,000 a year salaries for the next three years. And hopefully we're going to see a whole group of black and Latinx entrepreneurs that are running every table franchises in for their communities. That's the kind of creativity that exists right now in the United States and everywhere else in the world that we”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  15. “More openness to how we would look at our overall portfolio, again thinking of it going from philanthropy to more market driven returns. We have a company in the United States called Every Table, and it is a fast food, healthy, nutritious, affordable restaurant chain now in Los Angeles. It's about eight different restaurants. And with the pandemic, it just has exploded in the best ways of delivering food and partnering with governments and individual philanthropists that are willing to pay meals forward so that people in low-income parts of Los Angeles can get healthy, affordable food. With Black Lives Matter protests, what Sam Polk, the entrepreneur, understood, is that he had within him, within his operation, individual employees who had the capability to become franchisees. But in the United States, the franchise model”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  16. “Broken parts of our current system of capitalism, which bifurcates how we make money and how we give it away, is that we often disregard how people are treated inside and outside our companies. And then we, as well as the environment, and then we try to make amends for the fact that we are the status quo with our philanthropy on the outside. And that model is deeply broken. As investors, how do we think more holistically about the impact that we're making? Positive and negative with all parts of our money across that spectrum. There has never been such opportunity as there is right now to invest in extraordinary entrepreneurs that are reimagining how to use the tools of capitalism to solve big problems. As I said, Tim, they exist in every country. And we have to think with”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  17. “Manifesto for moral revolution. And the whole idea of moral revolution is give more to the world than you take. It's not, there are some who have the moral responsibility and some who do not. It's like all of us. So I really appreciate that you would ask for all three categories. When you look at the brokenness of our criminal justice system, the opioid epidemic poverty, the arts community that's out of work, there is such an opportunity to be of use, to pay visits, to just talk to people who are lonely right now, to be more conscious about the way that we spend our money even for small things and buy sustainably. And so it's building into your everyday a much greater consciousness and awareness of the fact that our action and our inaction impacts people everywhere. For the individual investor, I would say that one of the”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  18. “The person with not a lot of money but time, I would say focus on both immersion and understanding the problems around us. And also another practice from the book, which is accompaniment, by accompaniment, what I mean to walk with someone, to try and understand their problem, not take it on and solve it for them, but to help them build the muscles so that they can solve it themselves.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  19. “Yeah, and moral imagination that he had in seeing not just The ugliness of the world that is and the humility that that takes, but he truly had the audacity to imagine. What could be and to see the infinite potential in every human being?”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  20. “Really looks at people in the Holocaust and asks himself, why did some just sort of crumple up and die and others stayed resilient and strong? And that at the end of the day, no one can take our dignity away from us. And so I think that we have to be reminded right now that between stimulus and response, there is a choice. And we're in that moment. And I have seen myself personally so often that in the darkest times we can find our best selves. And that's our opportunity right now. And so I think for this moment, Tim, man's search for meaning should be required reading for all of us.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  21. “I have reasons for each of those books, and certainly The Invisible Man in this moment of The Black Lives Matters protests and the continuing racial reckoning, invisible men really taught me to not see through anybody ever. But the book I give right now in this time of so much despair is Victor Frankl's Man Search for Meaning, where he”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  22. “Have done anything. But when I think about what legacy is, I think about him and I look at the now, we've had over a million sign-ups on Acumen Academy when I see these hundreds and hundreds of Acumen fellows and the entrepreneurs. I sometimes hear John's words in them. And I think this man who's been dead for almost 20 years is fully alive with the kind of legacy that matters because he focused on investing in the world around him and not just in himself.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  23. “Where he stood apart, and again we need him so much right now. He was the only Republican on Lyndon Johnson's Democratic cabinet and was the head of health, education, and welfare. So he was at the table negotiating some of the great civil rights legislation talk about courage. He would say things to me like, you know, focus on being interested, Jacqueline, not interesting when I would get some fancy job offer. And he would think that was a vanity project rather than a character building project. John left the cabinet and resigned his position in protested the Vietnam War. And in response, he created a grassroots citizens organization at age 54 called Common Cause. And it was that level of integrity and of doing the right thing, not the easy thing that I think we're all yearning for in our leaders today.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  24. “Learn from. For me, there's really no one like John Gardner in my life, Tim. He was this very patrician man who almost spoke in Koans by the time I met him. We were 50 years apart. So he engaged a lot of wisdom.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  25. “And none of this is entirely altruistic if we're seeking purpose, if we all buy into throws that so many men live lives of quiet desperation and we don't want to be those people, then there is no clear path than making a commitment to problems that might be so big you won't solve them in your lifetime because then you are constantly just starting. You are constantly learning and unlearning and renewing. And I think that's been also the story of this work of trying to solve these big problems with entrepreneurs that are as relentless in their seeking. It's just that What drives them is to solve a problem, what does not drive them is just profit, though they recognize they need the profit for long-term financial sustainability and scale. The prioritization.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  26. “Know Jacqueline, I need to keep my options up. And I'm like, seriously, just commit to something. This, we don't tell young people, or even old people, we don't expect that enough. And I think the cult of the individual is also the cult of optionality. And the secret is that when you commit to something, particularly something bigger than yourself, it will set you free. And suddenly you will find a freedom and layering of life that you never really understood you had.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  27. “I actually think Jim Collins said that to me when I was the left. To be his student. And I paraphrased Jim. I say that a lot where it's like, well.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  28. “In apprenticing, I would say I apprenticed for 15 years. And also to your point, that bakery in some ways probably looked like a Girl Scout project to a lot of people. When I think about some of the most important things I have ever done in my life, that one sits at the top for all the reasons that you implied. Had to learn the gritty realities, talk about learning humility. Had to let go of a lot of my assumptions yet again. And so I do think you're right. Skipping steps, particularly because life is both shorter than we think it is and it's longer than we think it is. It doesn't serve the world and it doesn't serve you.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  29. “Well, the first would be this idea of just follow your passion. I don't even really even understand what that means. Even though my whole life, I have been very clear about the way I wanted to create change and for whom it wasn't this, as you said, out of the box really understanding that we were going to use different forms of capital and support it with the right kind of talent to work a system to create real change. I would say just start by asking what is my purpose, what is my passion. Start by asking what are the problems that need to be solved, which ones attract me and take a step toward that. Take one step and the work will teach you where you need to take the next step. Build tools in your toolbox. If you still don't know what your passion or your purpose is as you take those steps, follow a leader and learn from that leader. There is something so powerful, and I think this is what you're getting at too, Tim.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  30. “Be looking at off-grid energy or investing in the social determinants of healthcare, financial inclusion and workforce development, which we feel are so critical to where the nation is now when it comes to the poor, or low-income people.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  31. “In the beginning, we selected sectors. We were mostly focused at the very beginning on how technologies. And then the idea was we would find entrepreneurs. I was and am such a believer in entrepreneurs. And in fact, people would say, oh, are you trying to solve malaria? And I'd be like, no, we are trying to find those health technologies that could fundamentally change people's lives and bring them dignity. Now, again, we're in a very different place where we have all local teams on the ground. Depending on the region, there's much more focus on the sectors. And Tim, what we find then is if you think about acumen as a laboratory, when we see a company really move up like a D-light, then we can start to build other companies around it to really help create that ecosystem. So we're a bit different. In the US, for instance, it wouldn't make sense for us to”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  32. “Months later, I went back and there were eight. And there was that moment when suddenly I was seeing hundreds of women operating these machines that I thought, oh my goodness, we're doing this. And then they ended up creating jobs for 10,000 people, manufacturing 30 million nets a year. They ended up being 15% of global production. And when you think about that, that's like a half a billion people who have gotten access to malaria bed nets because of this little company in not so little anymore company in Arusha, Tanzania. I was like, bingo, this is what we're about.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  33. “There was no manufacturing capability for this particular kind of bednet. And so it was a real experiment. Could we build manufacturing capability with similar throughput rates to the kind that you might get in Asia, where the long-lasting bed nets were created? We went through all these different entrepreneurs. We identified this incredible guy named Anusha in Arusha, Tanzania, and worked with Global Fund to buy these nets and didn't really know what it was going to look like. And of course, I had seen a lot of things fail. This was a complex collaboration. And then I went to go visit just as the factory was getting going. And there was one line of bednet making machines. And I was like, this is cool. I love operations, factory operations. A few months later, I went back and there were four.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  34. “Yeah, I recall it like it was yesterday. We had helped put together this collaboration, this deal, to bring long-lasting malaria bed nets into Tanzania. It started with Sumi Tomo, who I developed this bed net.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  35. “That they had a really lovely Christmas, but the moral imagination would have said, look, am I willing to do the work of actually understanding who these people are at the very least? And building from there. If I'm not, find an organization that does. Even better, ask the questions around what got them there in the first place and where can I be spending my time and my energy and my capital to solve that problem. And I'm not saying we shouldn't give charity. I think there's a real role for moving from that place of empathy and from that place of unbridled love in a moment. Our job right now when the pandemic and everything that's happened in the world has broken our systems open is to think bigger than that and to hold ourselves to account at a systemic level. And that's what my obsession is.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  36. “We got in her car, we loaded it with all the stuff. We were both completely hung over. We drove into this place that I'd never been to a place like that before. And it was literally when we got to the house. It's like a shanty, a shack. And suddenly I just felt shame. I was like, oh my God, like I don't know who these kids are. I don't know what kind of things they like. I don't know if the parents want the kids to know that somebody else is bringing them Christmas. And this is all wrong. And literally I said to Suzanne, my friend, I was like, just keep the car running and grab the stuff. I ran it. I threw it on the porch. I ran back to the car. It was like, just go. And I think in a way it was the beginning of my moral imagination that that act was an act of empathy. It was well intended. And I hope.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  37. “I think it's even deeper. I mean, I think when I first learned about the moral imagination, I was in college when I was at Charlottesville, ironically, given everything that happened in Charlottesville a few years ago. And I signed up to bring a turkey dinner and all the trappings of a Christmas to this community that was 30 minutes away from the university where low-income people lived. I was also kind of a wild co-ed. So we had this big party. We asked everyone to bring food and toys to make a perfect Christmas for these kids. I was really excited because I felt at some level so sorry for these people that didn't get to have a Christmas. The next morning, my girlfriend and I got up and”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  38. “Moral imagination is essentially putting yourself in another shoes and building from their perspective. As I said, it's We often design through the lens just of our own imagination. That doesn't work when we're designing for people whose lives are completely unlike our own. So moral imagination starts with empathy. But I've learned time and time again that empathy by itself reinforces the status quo or at least risks doing so. And so the idea of moral imagination is understanding by immersing a particular problem and then thinking systemically about those issues that get in people's way and then frankly being honest enough to recognize where people get in their own way and then moving from there.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  39. “I think now, in fact, our housing company in Pakistan, Javat Aslam, he actually named one of his funds, the immersion fund. Once you really think about it, it's a beautiful word. All of us right now need to immerse more in each other's lives. All of us need to design with the imagination, not just through our own lens, but with the imagination that is morally based. You don't get that if we don't have immersion. I think it's changed.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  40. “Well, a friend of mine, Antonia Bowering, was working for now no longer.com called, I think it was called March 1st. They did this big ideation project with us. So they actually did some true consumer testing, but I also having so many people in my life and being an extrovert just kept asking, asking, asking. I couldn't find a single man who was with me on immersion. And in fact, I can remember one person was like, I just hear that word, Jacqueline. I feel like you're making me drowned in a sea. There is something to that. There are moments where you feel like you're drowning, but then you come out to clarity. But we decided.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  41. “I think that was my brother Mike's, but I can't remember, but there was a lot of why involved in the naming of acuum. And then I really loved the word immersion. I still do. It's one of the principles of moral imagination. There's a great line from Tilly Olson where she says, may you live a life of immersion? I'm paraphrasing, but what price will you pay? To truly understand the complexity of the issues that we are trying to solve, you have to get close. Brian Stevenson, the Civil Rights Activist, says you have to get proximist. I say you have to immerse. It's the same. But when we did trials, particularly across gender, women were attracted to the word immersion. Men hated it, hated it. And so acumen seemed a little less offensive to one of the two groups.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  42. “Of course, I do. Of course, I do. In fact, we had, you know, 2001, just to put us back again, it was the dot-com craziness. Well, 2000, 2001, by the time I picked document and we started, there was a bust. But you could not get a URL and no names were working. And so I had this night at the Rockefeller Foundation where I was working in. And we came up with really, really great names, including Ain't Your Grandma's Philanthropy.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  43. “Launched an energy revolution and taught me that the kind of investing we need to think about right now at scale doesn't only reward the building of a single company, but those companies who ultimately create entire markets. I think that's the next frontier in so many ways.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  44. “Available, yeah. Goes to the ethos at the beginning of Acumen, even, and I guess it goes to that girl we were talking about. I just wanted to know the truth ourselves. So even if the world didn't care, we would always have a forced ranking of our investments. And if you just sat there trying to defend your investment as an investor, that was the way you could get fired. If you were the one who talked about everything that was wrong with it and what made you worried, that was the way you could become more of a hero. And now we've grown quite large. And I think we have a different set of questions that we ask. But I think it was that ethos, Tim, of holding ourselves to account for the kind of impact that we are trying to create in the world, not protect that allowed acumen to partner with just incredible market makers like the guys who founded DLight, which has brought clean solar light and electricity to over 100 million people and really.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  45. “No. I mean, when there's conflict, then you know you're on to something and I'm looking forward to that day when we do have that conflict. I would say the more internal conversation that we have as a board is how transparent to make it so that we start actually taking seriously the level of impact that different investors around the world actually are getting.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  46. “System that includes a fan because with the fan, the air moves at night, bugs are kept away, the kids sleep, they do better. It's a lean approach because you're not doing a three-year randomized control trial. And it is a deep approach because you are hearing from the perspective of those who actually most matter.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  47. “Electricity. And we can see which companies may have the best product, but it's reaching people with the highest income. And so you've got a trade-off. Which companies are doing the most to displace carbon, but they may have another trade-off. And which companies have the happiest customers, then we can decide more effectively where we want to allocate our dollars for impact, not only for financial returns. It not only has held us more accountable, Tim. It's allowed the entrepreneurs a much deeper understanding of who their customers are. It allows us to see, are we actually reaching the poor, which is our mandate? And it's shown us where we were wrong. When it came to off-grid energy, we assumed, as I said, that kids would do better in school. They don't necessarily do better in school. If you want kids to do better in school in really, really hot areas, get a soldier.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  48. “First went into it. Then we collate all of that. And suddenly we can help our entrepreneurs understand whether they're serving people, which is sometimes shocking when they find that they actually are not the way that they thought they were. But equally, we can start to look across a sector like solar.”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  49. “As likely to tell you the truth because I don't really think you want to hear it anyway. But in this case, the more anonymity they had, the clearer people would give. So imagine a solar light company. We're the largest off-grid solar investor for the poor in the world. So we have a lot of them. We could go to a company like DLight and text five, six, thousand customers simultaneously, ask those customers a series of questions from which we can deduce what matters to them. How many more hours of light do they have when they buy a solar home system that gives them three lights, a radio, a television? What is the quality of that light? We can measure carbon offset. That's easy. Has their health changed because they're no longer using dangerous noxious kerosene? Are their children doing better in education? Which was an assumption we had when we”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT

  50. “We invest in entrepreneurs that are trying to build markets where they haven't existed for people who make two or three dollars a day, where there's no infrastructure, there's no trust. There are very few skills, ed talent. There's a lot of corruption and complacency. And so it would be really easy for us to essentially say that anything we do in a difficult environment is impact. And so we decided that we had to hold ourselves accountable to a higher standard. That at the end of the day, what really matters when it comes to dignity is to record and understand the voices of those you are there to serve the poor. For many years, Tim, our impact measuring was fairly mediocre because we didn't have the tools. Once you had cell phone technology and you could text customers, suddenly you had a one-on-one communication where you weren't in the room where people aren't always”

    2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT