YouSaid · the spoken record

Jacqueline Novogratz

lines on the record: 106
first: 2024-07-26
most recent: 2024-07-26
sittings or episodes: 1
sources: podcast

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“Impact funds, yeah, and in fact, the reason we spun it out is a number of other nonprofit and for-profit funds asked us if we would essentially provide them with lean data consulting. And we thought that, again, going back to our mission, we want to change the way the world tackles poverty, we would serve that mission better if we spun it out, let it grow. And that 60 decibels, which has been really exciting to watch take off. I'd love to see BlackRock using it, frankly.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Main values, which is listening, and it measures impact not from the perspective of the giver or the investor, but from the recipients from the customers themselves so that we can actually serve the poor in ways that we hope to.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Community of builders through the World School for Social Change Acumen Academy. And that is not only trying to identify, link, inspire the talent that exists. I believe in every corner of the world, but also to offer rules, tools, blueprints, so that anyone anywhere who want to be on the path of social change using this combination of head and heart, hard skills and what I think are the even harder skills can be part of it. The third is to measure what matters. If you're going to say that you invest for impact, you better be able to measure what that impact is. A couple of years ago, we spun off a company called 60 decibels that uses an approach to measuring change that we created called lean data, which we can talk about. It essentially upholds one of our”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Acument does three things. First, we invest long term patient capital. This is 10 to 15 year investment backed by philanthropy. So equity and debt into entrepreneurs that are going where markets have failed, healthcare, education, energy, agriculture. We will invest not only for 10 to 15 years, but we accompany those entrepreneurs with our social capital, our access to networks, to supply chains. to knowledge, sometimes to talent. Any money that comes back gets reinvested. As you said, Tim, to grow these companies and scale is at the heart of everything that we do, we then need to tap into more traditional forms of capital and the impact investing space. So we also have a management company that runs several for-profit impact funds. The second thing we do is build a”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Acumen stands for perspective, insight. When we started Acumen, I was focused on revolutionizing philanthropy. And too often, the way we think about philanthropy is soft. This was saying, again, the hard and the soft, you've got to bring an edge, start with business, start with insight, build from there, and bring the same level of accountability that you would expect from a financial investment into the world of social change, therefore acumen.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Blame other people. We other them. And that was very much at the heart of the genocide. And that has very much informed the way I see the world and the way at Acumen, even the way that we talk about and inscribe our values. It's always intention. It's always recognizing the light in the dark in almost any choice that we make so that we're much more cognizant that there is no system that's all good. nor is there any human being that is all good or all bad. I worry sometimes when I hear conversations in the social media moment that we are in, that it's capitalism's fault. It's socialism's fault. It's stakeholders. It's shareholders rather than, could we focus on the values here? What are we trying to solve? And then can we pull back and find ways to use the best of the tools that we have at our disposal? And actually solve that problem.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“I was literally sitting in a prison with Agnes, the woman who was the major perpetrator. Niedani, asking her how this could have happened. And there she was, Tim, in a pink dress of the prisoner's uniform, her head-shaped bald with a freckled face. You know, she looked like a young woman. She didn't look like a monster. And we had founded this institution together. We're taught that there are bad people and good people, monsters and angels, and yet the truth of the matter is that monsters and angels live in every single one of us. Monsters are our broken parts. They are our petty fears, our insecurities, the grievances that grow. And it's just too damn easy to pull into those parts when we as a society feel insecure.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“First thought is absolutely that I didn't just know people in the market our first executive director was jailed as being one of the highest ranking or the highest ranking planner at the genocide before the genocide she was co-creating a liberal party based on multi-tribal democracy with another one of our co-founders but when it was clear that power looked like it was going to power or the genocide regime she switched And so early on I saw those who seek power Those who seek purpose and that power can be very tempting. And I also saw how in a time of real insecurity, and we're in one again, it can be very easy for demagogic leaders at all levels of society to prey on insecurity and sometimes make us do terrible things. And that's where monsters and angels came in.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Not consider the environment. If government decides everything or top down approaches to aid, it's just too easy to give to the people that are close to you or for reasons that have nothing to do with anything but power. And so the question I started asking myself is what if we looked at capital as capital, understand it exists on a spectrum, take the power of business and capital, but rather than let it control us control it in service of creating a world where we can actually solve our problems. Acumen was born in 2001 with that idea in mind.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Had to be a redefinition of what poverty was, that we so often look at poverty and we think the answer is income. The answer is jobs. What I had seen by now, both in banking and in development and certainly with the genocide, is that the opposite of poverty is dignity. It is having a choice, having opportunity, having agency over who you are in your life and what you're capable of doing. And we miss that. And that was really the beginning of acumen, that we have all these tools. We have the superpower in capitalism. But when we raise it to the rank of religion and everything goes around one end, profit, we can do amazing things, but we exclude a huge chunk of the world and we create great inequality. We're seeing that today, not to mention”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“So suddenly, having worked on a social justice institution by then that had been in existence for seven years and seeing a country explode into a bloodbath, losing many of the people that I loved and that I worked with, and seeing my co-founders play out every role of the genocide from being murdered to watching their families be murdered to being bystanders. I think that was probably One of the most important. Experiences because God forbid I watched it from afar Both an understanding of patient capital that the work of change is so often a couple steps forward and sometimes the whole thing blows up, that societies are highly complex. And again, that the heart of my work.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“And so Stanford had a public management program that I thought fit more with what I wanted to do with my life. It was very clear that I didn't want to go back to just make money. I wanted to go back to build the tools to build companies that could employ and serve poor people. And so at Stanford, I meant an extraordinary mentor named John Gardner. And I think he shaped my life as well in terms of getting me focused on the United States as the rest of the world and talked to me about the importance of leadership, which I hadn't really thought about as much, Tim. Then I went to the Rockefeller Foundation where I really saw the power of philanthropy. So by the time I was nearing 40, I had worked in the private sector with banking. I had built several institutions, but most notably Dutermbere, the microfinance organization, and this bakery and a couple of others. And then probably the other critical thing that happened was the reward.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“But put yourself back there, right? 1987. That was the height, that was the Mike Millikin. That was like the height of market belief. In fact, market fundamentally Gordon Gecko.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“It was really, really hard to get an application anywhere. We only had Word processors. We didn't have computers. It took 10 days to get a letter to Stanford or wherever, and then another 10 days after they sent the application to you. And then you had to write on that little airplane paper, send it back. It was a nightmare. And that particular year, Harvard on its annual report had a picture of all of the graduates with dollar signs on the back of their hats. And I thought, well. I think I might be a misfit given that I really want to solve poverty.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Using that access, we're only halfway there. I think because I was beginning to understand that I wanted to build companies, not just make small loans, that I wanted new skills. Also, in the context of East Africa at the time, degrees and other markers of success, particularly for women, seemed really important. I was often called in Shutanaki Dogo, which means little girl, even though we actually created a very successful lending operation. So I applied to Stanford Business School. It was the only school I applied to. I thought, well, if I get in good, if I don't, it doesn't matter.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“We need the builders. We need all these other personalities around us. So I also started a little bakery with 20 women to really understand what it would take to build entities that gave people good jobs. And that was a whole other learning point in the apprenticeship, if you will, before Acumen, that access”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“So Rwanda to acumen saw both the power of using markets with the microfinance I learned that it wasn't enough that giving women just small loans was amazing, that you could give them access to credit at, say, 12% a year rather than 400% a year, which is what they paid the money lenders that you could build community. My assumption that if you gave women small bits of credit that it would be enough for them to create jobs was wrong. Most people aren't entrepreneurs and that's probably a really good thing. I could say it as an entrepreneur married to an entrepreneur. We need...”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Their capability to flourish. And so I think it was a mix of hubris and a desire to be used in ways that I felt that I had something to offer.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Would say that the whole first year and a half was that slog. I would say a combination of this man Toni Triciano when he had given me this job offer and he was like, you're going to go to Africa instead of do this. And I was like, Mr. Triziano, don't you understand if I don't go? I might never do it. That moment kept coming back to me. And it's like, how could I go back to him as a complete failure? I have to like show him that we can do something. But also, Tim, I saw the vibrancy. I saw the beauty and this world that I had never imagined existed with people who were so eminently capable, but who weren't really given a chance to be everything that they could be. And it didn't seem like rocket science to me to build different kinds of systems that actually allow”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“I mean, a couple things happened. Again, I had learned. From my own lack of humility, that it would have been really easy to go in there and be like, I, I, I, I, but that if we were going to build an enduring institution and I deeply believe in enduring institutions, that I had to be a minor role, even if I was doing a lot of the legwork. And so I was really lucky to find a small group of Rwandan powerhouse women who are my co-founders. And we did everything together reinforced the African adage that if you want to go fast, go alone if you want to go far, go together. And it became one of the most extraordinary experiences of my life because I saw that you really could change a little corner of history with the right people, the right kind of capital, the right value system, and certainly a lot of hard work.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“This sense that if we could get markets to work for poor women, they would have so much more dignity than what I'd been seeing that I probably went for a three-week assignment and knew somewhere inside of me that I wasn't leaving to wait belch a bank”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“In Nairobi and said that she was from Rwanda, which was a country I was completely unfamiliar with at the time. In fact, I thought she said Uganda. And they had just 1986. They had just passed a new law that abolished Napoleonic Code under Napoleonic Code women were put in the same category as children and the mentally impaired. until that moment were unable to open a bank account without their husband's signature. And she asked me if I would go to the country to do a study, if you will, for whether it might be possible to create some kind of financial institution specifically for women. It was the first time an African woman had asked me to help solve a problem. I think I was so beat up by then. And yet really did feel”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“That was in Kenya. So I had a second big failure. The little wins were that in my everyday life, the relationships that I was building, including with the person who served tea, with drivers, were quite real. I kept going back to this human potential that I was seeing all around me and starting to understand the crushingly complex systems that were in their way that nobody really wanted to confront. including the supposed good guys, the NGOs, the nonprofits, the leaders who were also arbitrars of who got resources and who didn't. And it actually reinforced for me why I believed in the power of business, of entrepreneurship, because I was in this other world where who got control of the resources meant everything. The first real win for me was when a woman walked into my office.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Such an interesting question. I had another crushing failure right after where I analyzed a bank portfolio of microfinance organization and saw that I was excited by seeing all of the problems in the portfolio. And the CEO, rather than sharing my excitement that now we could actually fix the problems, burned my work and didn't want to work with me after that. And so I had to learn a whole new approach clearly.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Purging that I did. The threats were not that unusual. Again, and I see it in places where there's often insecurity and deeply oral-based society. And you've got to remember too, Tim, it was 30 years ago and the world operated in very different ways then. And I just was caught up in this world that I had no understanding of. And of course, is now a place that I'm deeply in love with and love all of its different layers and see the reflection in our own societies. We just make manifest in different ways.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Again, I think it's really dangerous to assume, but I think that What I've learned and what I used to, you know, and I used to read novels about the mystical and the magical, that in cultures, including the United States that were very orally based, storytelling, myth-making can be as powerful and potent as the real things. And so there was, particularly those years, a lot of giddy, giddy, you know, people relieved in and wearing different amulets and medicines in a way you see the guys at Silicon Valley kind of replacing that with new things that we do to give us a sense of strength. And so the way I always attributed it to, which is why I would never accuse anyone of having done it. But the threat of it and my own fear and isolation may have been made manifest in this literal.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Whatever happened to them. And I moved to East Africa where I kind of started again, hopefully with a lot more humility and maybe a different kind of courage.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“I couldn't go there. I couldn't go there She thought it might be poisoning, but I didn't remember eating anything in front of anybody. And I was a little thing to start off with. And so after about eight days of just lying on the bathroom floor, I decided it was enough and told the women, trying to be respectful, but also clear that I got what they were saying. I really heard that they had not asked for anybody like me and that we don't, we shouldn't be just parachuting in to go and build things without doing it in real partnership and that that was a mistake on every level, including mine. And nobody should be treated the way that they treated me and that both were true. That said, I left everything that I owned in the boxes that I had in the Abidjan-Hilton. Goodness.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“So, and you know, I don't believe in voodoo, but I will tell you what you are stripped down to nothing and you're afraid to eat anything in front of people and you're being locked out of your office and you don't really have much of a safety net, nor do you know a single person except for this incredible Nigerian woman who's befriended you. I would lie in bed and be like, is anybody here coming to get me? And then I got unbelievably sick with food poisoning, like deathly sick.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Everything from just kind of a daily rejection where I would go to my little office in the African Development Bank and the door would be locked. Or I was supposed to do this big conference and I would ask people for help and they'd be like, that's not my job. Okay, I didn't really know where to go. And then this one Nigerian extraordinary woman befriended me. And she's like, you know, they really want you out, the powers that be. And so don't eat anything in front of the women who didn't want me in the country. And I said, what do you mean don't eat anything? She said, well, they're going to poison you. And they're also talking about voodoo.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Pretty quickly, was that most people don't want to be saved and certainly not by a 25 year old white American girl who's French was not very good and who had very little understanding whatsoever of the local culture. And so I hung in there for a number of months. It was very hairy.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“I think it was loss everything I'd left behind no understanding of where I was going fear, a lot of loss in transition. And then the minute I landed, both excitement for being there and yet almost immediate confrontation with the first big true failure of my life, which was that I had been told that I had this opportunity to be an ambassador to African women, I was going to help build all these microfinance organizations across the region. And I would say the arrogance underneath was that I was going to save the world. At least this part of it. And what the confrontation helped me understand.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“The tools of business and banking could actually serve people who had been fully left out. And I don't think it was until I was actually on the plane listening to Joni Mitchell's blue album over and over and weeping that it really hit me that I was on my own.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Again, we had far less tools then. And so I had read one tiny article about Grammy Bank, which was still very obscure. I sent a letter to Mohamed Yunus that probably never reached Bangladesh. And then I heard from a young woman who also was at Chase that her aunt had started an organization called Women's World Banking and that there might be an opportunity. So I just went there and offered myself to go to Brazil. And as I said, she said, we don't have any opportunity there. We do, though, in West Africa. And I just took it. It was super risky. It didn't come with health insurance. It just was an opportunity. I knew that if I were waiting for the perfect, I wouldn't have done it. I also knew I might lose my nerve. And it was the only thing that was on offer to really test out my theory that”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Think there was a lot of fear. I think there was a lot of fear. What's been so thrilling is to watch them along the journey, not only feel deeply proud, but get more and more excited. And that happened fairly quickly. As long as we had a few rules, if I went to a war zone, I didn't tell them till after I got back. Because communication was too hard. It was not fair to them. I think those are things that parents don't have to deal with today because they can be a more constant contact.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Heads up, this is really, you know, it's not such a request. This is what I'm going to do next. And my mother is like, you are out of your mind. She could be very forceful then. And what she will say now is that she kind of understood by then that I had a very strong will when I decided something, I don't think I quite understood until much later how afraid they were. This is pre-internet, pre cell phone, pre-real understanding of what this big continent was about, the only images they had of Africa was as almost as a single country rather than 54, all looking like Ethiopia during the famine of 1983. Probably the worst thing that she said to people was, you know, I could understand if you were a nun. And I was like, what are you doing?”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“And so I think that was incredibly hard because we were all raised to quote unquote do the right thing. I was looking for an opportunity to get to Brazil, but I found one that would bring me to West Africa, which was absolutely not on my playbook. But I realized that this was a chance to pursue a different kind of dream that was looking at taking the tools of banking and reaching low-income people. I read about Mohammed Yunus and the Grameen Bank and other heroes of mine. I wanted to try it myself. And so I went. And as you said, it was sort of a next move I met with absolute crushing failure, made all the worse because I turned down this really big job offer.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Tell us about that. Giving up on, you know, this middle class immigrant family saw as the job of lifetime and to make it worse, the COO of Chase, Tonutriciano, who just such an amazing man, was giving me an opportunity. Then I think he liked that I was the scrappy bartender girl and not the more refined version that my immediate boss wanted. He really gave me an opportunity that could have changed would have changed the direct trajectory of my life. My dad thought I was giving up that opportunity. My mother thought I would never marry. Both had truth in what they were saying.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Acting enough like an elite one of us. And I realized in that moment that not only did I want to see how we could actually use the tools of banking to solve poverty, but that if I stayed, that he was essentially asking me to be a completely different person. And that helped make the decision.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I mean, he gave me two gifts, actually. That was the first gift. And then when we were talking a little bit later, and he was trying to convince me to stay at the bank, he was like, look, you're one of our top producers and performers, but culturally, you don't really fit. You dress like Linda Ostet and you laugh too much, which now I think may have been code for you're not actually.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“To the favelas and into the slums and into these parts of the cities that were so full of life and vibrancy and work and diligent people. And I would talk to people about their businesses and realize that this was a group of people that could not even walk in through the doors of the bank. They had no confidence with the banking system. And so again, asking dumb questions, which may be a theme of my life, went to my boss with all good faith and said that maybe we would do better for the country, do better for the people, and actually get our money back, do better for the bank if we actually made smaller loans to local people doing what they were doing. And he literally gave me a book called The Innocent Anthropologist. And it became very clear to me that the bank wasn't ready to pivot in that way. And so I had to go outside.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“So it started. Again, having always dreamed of traveling around the world and knowing and loving the world, in fact, now I'm in Brazil and Chile and Ecuador and truly Colombia falling in love with the vibrancy, the color, these stories that as a young American kid, we didn't ever get about the developing world. And it struck me in this era again, Tim, when the banks were falling apart. They had been making all these bets based on relationship and long-term debt and suddenly the markets were in crisis and they wanted to call all their loans and they lost hundreds and hundreds of millions of dollars, billions of dollars at that time. So I would sit inside the bank looking at loans that should never have been made. Often money that was actually never even put into what it said it would be put into. Meanwhile, on the weekends, I would just be drawn.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“I've actually never thought about it for myself personally, but it deeply resonates, that I am not comfortable and it's hard sometimes both for people who work with me and for the people who take our courses online at laying out a roadmap because the world is too complex for a step-by-step guide to how to solve poverty. But what we do have is a compass, a moral compass, and that speaking of truth and standing for truth not only builds a sense of courage, but it deepens, I think, one's and certainly my own understanding of where lines are. So yeah, so thank you for that.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“No, the teacher, he was a great pop quiz guy. And he had promised us that we wouldn't get a pop quiz that week. And one of my friends had been sick and she was very, very insecure when it came to trigonometry. I said, you don't have to worry about it because this teacher told us that we weren't going to have a pop quiz and promised us. And then, of course, he gave us the pop quiz. And I just felt such a need to protect my friend that I stood up, I made a big deal about it. And that was the end. That was my last day of trichonometry for that year. And the worst of it is I had to do home economics for the last six weeks.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I think it probably was, and in fact, God, you're already making me get emotional, but I think I saw myself as less courageous a voice than other people experienced me as a great gift of my latest book, where I talked about the need to learn how to use voice, was that one of my colleagues at the time who I haven't hadn't seen in more than 30 years, you were always the one that was standing. And I think I always stood for the underdog, but I also just couldn't tell a lie. And they hired me for a particular purpose. And I felt like that was my duty. That was just my job. As a kid, I was the one that would fight for the underdog. In fact, I got thrown out of trigonometry for standing up for what was right.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Me because I know that I was exactly the same woman the morning after that I was the morning before. So I guess learning really young sometimes just speak that truth even through trembling lips.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Swiss banking, and that the bank was completely protected. And I scratched my head. I went back. The numbers still didn't work. I called my boss. He yelled at me. And I just knew that I might be wrong. I might be all those things he said. But I could only tell my truth. And I literally had to hold on to the chair because I was so afraid. And I turned it in. I gave it in those days a seven, which put it on a big warning list, which meant it went all the way to the top of the bank. And it turned out that I was right. The bank failed. And I learned really young, Tim, that I went from being seen as kind of scared and not that serious overnight to then being seen as this whiz kid. I was the same person. Nothing had changed. And how ephemeral the way the world sees you became to me.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“Biggest one for me was in Switzerland when I was pretty much a solo act to look at this whole suite of Swiss banks, which everybody just assumed were safe because of Swiss banking. And Tim, I kept looking at the numbers and the spreadsheets for this one bank and nothing added up to me. And so I went to the head of the division, the office, and I was incredibly nervous because I wasn't that confident that I was that great at all these spreadsheets. And I pointed out what I saw as real flaws and real vulnerabilities. And he essentially told me I was too young, too naive, didn't I understand?”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“It was an extraordinary job. It was called credit audit, where the bank hired primarily liberal arts majors, I think young people who were critical thinkers who asked the dumb questions. And they literally would send us around the world a month at a time. I think I was in New York three weeks one year. And you would just get this note on your desk that you had to be in Kuala Lumpur three days from then in a package of travelers checks, which was the way that we would get money, and a reservation at a hotel. And we would go. And so it's one way the world has really changed because I remember talking to my boss because I had a reputation for unwittingly getting people fired by asking the really dumb questions. And then uncovering.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT
“And sure enough, for the next three years, I was in 40 countries at a really extraordinary time when the financial systems were also in peril in the early 1980s. That was my first job.”
2024-07-26 · The Tim Ferriss Show · #758: Jamie Foxx and Jacqueline Novogratz · IDENTIFIED FROM THE TRANSCRIPT