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Saadia Madsbjerg

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2017-01-27

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2017-01-27

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1. “Still broad issues. So that brings us back to how do you operationalize it on a day to day basis? How do you actually try to understand what's happening in those spaces? We have a strategic insights team that continuously monitors what's happening in those spaces and shapes different suggestions for areas where we could engage. And then we take those areas and have a conversation around how pressing is the problem. And I'll be honest, in most cases, when you look at it, nobody can come and argue the problem isn't pressing. There are terrible things happening around the world, in our backyard and across the ocean as well. So it's about that. But then it's also about what we like to call looking at dynamism.”

   2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

2. “So, as I mentioned, we try to really understand what we think the big challenges of our times are. And based on that set our strategy at any given point in time, that's the responsibility that the senior leadership team carries. It's the responsibilities that our trustees carry as well. If we look at where we are at this point in time and where we are focused, we have two overarching goals, as we call them. One is around resilience building. other one is advancing inclusive economies. And within that, there are four what we call issue areas that we focus on. There's advanced health, revalue ecosystems, transform cities, and secured livelihoods. Now, having just said what these issue areas are broad.”

   2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

3. “Both that, but also to use the data and to use the research to understand what the problem really is, where the problem really comes from. So when you're trying to figure out what the answer to that problem is, you're actually addressing the root causes of it as opposed to just, you know, what comes to the surface.”

   2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

4. “Meaning, what? It's about trying to really understand what the core underlying drivers behind the challenge are. So instead of just throwing money at something and say, here's money, you know, let's go alleviate the pain and suffering here. It's about really understanding what the fundamental issue is. So when you say...”

   2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

5. “Forward. I would say though the three things that have remained the same over the 104 years. One is our focus on innovation, so really driving towards new thinking and new solutions. The second is more, you know, and it's something if you read some of the letters written by John D. Rockefeller in the early days, it comes out, is this idea of scientific philanthropy.”

   2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

6. “It is indeed quite broad. And every time I say it, I almost kind of need to stop, take a breath, let it sink in, and then, you know, talk about what that actually means. So the Rockefeller Foundation has been around for roughly 104 years. The year I joined, we were celebrating our centennial. So the fact that we had been around for 100 years and we reflected back on what we had achieved in those 100 years and what it had meant, we have always stayed true to the mission, which is to promote the well-being of humanity. But what that means at any given point in time, of course, has shifted over the years and it's shifted based on what we think the big challenges of our times have been and where we think that philanthropy has an important role to play in terms of stepping in, trying out new solutions, proving how they work, and then letting others step in and drive those.”

   2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

7. “Not just philanthropic funding, also what comes from the private sector, also what comes from the public sector. So pretty broad. And, you know, just to put context to what kind of financing mechanisms we're talking about, it's everything from insurance linked securities to pay-for-performance debt structures to even micro taxes.”

   2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

8. “So innovative finance represents a pretty expansive set of financing mechanisms that in one way or another are designed to either attract more money Development goals and different programs and initiatives or to take the money that's already in place and the new money that's coming in and make sure that it's more effectively deployed because I talked about the massive funding gap. That gap is there and we need to focus on it. But at the same time, we also need to make sure that the way money is delivered is done in a more predictable way, in a more sustainable way. Because if people, you know, are working in this space, you have to know what's going to happen next year in terms of whether you're going to have the money or not.”

   2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

9. “Philanthropy has, the money the private sector has. So if we're talking about, and there's just another number to put it in context, a gap of roughly 2.5 trillion per year in developing countries alone. So that doesn't even include where we are sitting right now. We have to think innovatively. We have to think about alternative solutions. And we at the Rockefeller Foundation think that innovative finance is a big part of the answer.”

   2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

10. “To what that actually means in practical terms. But both of those agreements kind of brought to the forefront the big question of how are we going to pay for all of this? How are we going to pay for these sustainable development goals? And this isn't just about developing countries. It's about US, Europe, you know, the entire world. And how are we going to pay for all the climate related efforts that we want to do? And that is where innovative finance comes in. And just to put a few numbers on the table as well. It's estimated that for the sustainable development goals, they're going to cost around 50 to 70 trillion over the next decade. Trillion with a T. Trillion with a capital T. That's a lot of zeros. And there are also some, you know, and these are high-level estimates. So when you dig down, I'm sure you can refine it along the way. But there are also estimates then that there's a massive funding gap. in terms of how we're going to get there. And that takes into account the money.”

    2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

11. “To reference something you had blogged about for the foundation, the innovative finance revolution, what is that and what does the foundation do with that? So before I get to describing the revolution, maybe I can describe the challenge that that revolution attempts to address. So 2015, I think, was a landmark year in many different ways, but there were two particular things that we saw happen that year. One was that the world came together to agree on what we call the sustainable development goals, which are 17 very lofty goals about how we want the world, what we want the world to look like by 2030. At the same time, we also had the Paris Climate Agreement that most countries around the world came together and agreed on and has been ratified by a significant number of them. I think there's one large country that hasn't gotten around to signing off on that. Right. And we can.”

    2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

12. “And businesses. There's clearly an overlap, but technology telecom. How does that translate into heading up the innovation project at Rockefeller? So technology, I would say, I mean, always, but a lot recently as well, is playing a critical role in terms of how society is developing, how the basic fundamentals of the job market are being shaped, what has happened, where growth is coming from, how we interact with each other, how we work with each other. The work that I did at Cisco was very much about that. It was about understanding what is the fundamental role that technology plays in our lives at work and outside of work, and how can we use technology to address some of the fundamental challenges and opportunities, because it's not all about challenges as we go along. So let's talk about some of those challenges and some of those opportunities.”

    2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

13. “To work in a foundation? How does that transition take place? So if you had asked me, you know, 20-odd years ago, whether I think I'd be sitting in the position I'm in now, the answer would probably be no because it hasn't been an intentional career choice that I made from the very beginning. I've always followed my intuition and my feeling in terms of what I need to be doing and where I need to be doing that. So that is what took me from consulting to the world of tech to public sector in terms of New York City. And now here at philanthropy. But as I do reflect back at all of this, I do think that the experiences I've gathered along the way put me in a better position to be doing the job I'm doing today. So obviously with an entity like McKinsey, which is known as a consultant, so all different manners of organization.”

    2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

14. “My special guest today is Sadia Modzberg. She is the managing director at the Rockefeller Foundation, which has about $4 billion in assets. She joined the foundation in 2013 and leads the foundation work on innovation. Previously, she was senior vice president for strategic planning at the New York City Economic Development Corp. She spent six years at McKinsey and four years at Cisco. has a master's in science in applied economics from Copenhagen Business School as well as an undergraduate degree in international business. Saudi Arabia Modsburg, welcome to Bloomberg. Thank you, Barry. I'm delighted to be here. And it's a pleasure to have you. So let's spend a little bit of time on your background before we delve into the details of what the foundation does. How do you go from being a consultant at McKinsey and working on telecom technology at CIS?”

    2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

15. “leading to whatever distress any given region is suffering and find ways to fix that on a permanent basis to so called teach the person to fish. They've spent a lot of time thinking about things like resilience and how cities and regions can develop resiliency to ongoing threats be they economic, terrorist, or even just threats caused by the weather like supersom sandy or Katrina All told I found this to be quite a fascinating conversation and if you were at all interested in all things philanthropy I think you will similarly find it interesting with no further ado here is my conversation with Sadia Modsburg.”

    2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

16. “This week on the podcast, we have an extra special guest Sadia Modsberg, Director of Innovation and Managing Partner at the Rockefeller Foundation, a small four billion dollar outfit dedicating itself to the betterment of mankind. How's that for a broad subject? Anyway, if you're at all interested in philanthropy or how foundations operate and what it's like to have to think about giving away hundreds of millions of dollars a year, I expect you will find this conversation to be quite fascinating. The Rockefeller Foundation takes a decidedly off center approach as the expression goes, they are not looking to give a man a fish as much as they are looking to find the economic choke point that is”

    2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source

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    2017-01-27 · Masters in Business · Interview With Saadia Madsbjerg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source