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jerryking : social_impact   13

Opinion | The Meritocracy Is Ripping America Apart
Sept. 12, 2019 | - The New York Times | By David Brooks.

savage exclusion tears the social fabric.

There are at least two kinds of meritocracy in America right now. Exclusive meritocracy exists at the super-elite universities and at the industries that draw the bulk of their employees from them — Wall Street, Big Law, medicine and tech. And then there is the more open meritocracy that exists almost everywhere else.

In the exclusive meritocracy, prestige is defined by how many people you can reject....The more the exclusivity, the thicker will be the coating of P.C. progressivism to show that we’re all good people.

People in this caste work phenomenally hard to build their wealth......People in this caste are super-skilled and productive.....These highly educated professionals attract vast earnings while everybody else gets left behind......Parents in the exclusive meritocracy raise their kids to be fit fighters within it....affluent parents invest on their kids’ human capital, over and above what middle-class parents can afford to invest......the Kansas Leadership Center. The center teaches people how to create social change and hopes to saturate the state with better leaders. But the center doesn’t focus on traditional “leaders.” Its mantra is: “Leadership is an activity, not a position. Anyone can lead, anytime, anywhere.” The atmosphere is one of radical inclusion.....People in both the exclusive and open meritocracies focus intensely on increasing skills. But it’s jarring to move from one culture to the other because the values are so different. The exclusive meritocracy is spinning out of control. If the country doesn’t radically expand its institutions and open access to its bounty, the U.S. will continue to rip apart.
Accomplisher_Class  Big_Law  caste_systems  Colleges_&_Universities  David_Brooks  elitism  exclusivity  hard_work  human_capital  inequality  law_firms  leadership  medicine  meritocracy  op-ed  parenting  political_correctness  social_classes  social_exclusion  social_fabric  social_impact  social_inclusion  social_mobility  society  technology  values  Wall_Street  winner-take-all 
september 2019 by jerryking
Family offices are in a talent grab for young impact investors
OCTOBER 15, 2018 | Financial Times | Madison Darbyshire.

While the number of family offices managing assets at this scale is small — assets under management of a family office average about £300m, says Heather Jablow, head of global private client practice at Cambridge Associates — the trend of family offices turning to impact investing is growing — and quickly.

Some $22.89tn in assets were held globally in socially responsible investments as of 2016, up 25 per cent from 2014, according to the Global Sustainable Investment Alliance. Many family offices see impact investments, such as environmental funds and fossil fuel alternatives, as logical, smart investments for the future.

“If it were just about values, it wouldn’t have the legs that it has,” says John Goldstein, a managing director with Goldman Sachs Asset Management, who focuses on impact.

As impact investing becomes a priority for younger generations, family offices are becoming a more desirable destination for recent graduates looking to work in finance. Deserved or not, “it’s almost like family offices have this kind of halo now because they’re doing sexy things with their capital”,......Sometimes family offices hit upon an investment strategy that is so successful that they look to create funds around that strategy. Take the Wimmer family office, for example, which takes a three-pronged approach to investing. Its investments include property, SME lending, exchange traded-funds and investing in external hedge funds to yield what it calls an attractive return for its level of risk.
family_office  halo_effects  high-impact  impact_investing  mission-driven  social_impact  talent 
october 2018 by jerryking
Artificial intelligence is too important to leave unmanaged
September 26, 2016 | FT | John Thornhill.

Investors are scrambling to understand how technology will enable wealth to be created and destroyed

In the 60-year history of AI, the technology has experienced periodic “winters” when heightened expectations of rapid progress were dashed and research funding was cut. “It’s not impossible that we’re setting ourselves up for another AI winter,” says the co-founder of one San Francisco AI-enabled start-up. “There is a lot of over-promising and a real risk of under-delivering.”
One of the more balanced assessments of the state of AI has come from Stanford University as part of a 100-year study of the technology. The report, which brought together many of AI’s leading researchers, attempted to forecast the technology’s impact on a typical US city by 2030......Apart from the social impact, investors are scrambling to understand how such applications of AI will enable wealth to be created — and destroyed.
Suranga Chandratillake, a partner at Balderton Capital, a London-based venture capital firm, says “AI is the big question of the now” for many investors. The clue, he suggests, is to identify those companies capable of amassing vast pools of domain specific data to run through their AI systems that can disrupt traditional business models. [Large data sets with known correct answers serve as a training bed and then new data serves as a test bed]
artificial_intelligence  boom-to-bust  investors  disruption  data  training_beds  test_beds  massive_data_sets  wealth_creation  wealth_destruction  social_impact  venture_capital 
march 2017 by jerryking
How to Leave a Mark - NYTimes.com
JAN. 27, 2015 | NYT |David Brooks.

Impact investors seek out companies that are intentionally designed both to make a profit and provide a measurable and accountable social good. Impact funds are frequently willing to accept lower financial returns for the sake of doing good — say a 7 percent annual return compared with an 11 percent return. But some impact investors are seeking to deliver market-rate returns....It’s hard to find a reliable way to measure the social impact of these dual-purpose companies. Impact investors have also had trouble finding scalable deals to invest in. It costs as much to do due diligence on a $250 million deal as on a $25 million deal, so many firms would rather skip the small stuff... impact investing is now entering the mainstream. An older generation used their (rigorous) business mind in one setting and then their (often sloppy) charity mind in another. Today more people want to blend these minds. Typically a big client, or a young heir, will go to his or her investments adviser and say, “I want some socially useful investments in my portfolio.”...Impact investing is not going to replace government or be a panacea, but it’s one of a number of new tools to address social problems. If you want to leave a mark on the world but are unsure of how to do it, I’d say take a look. If you’re a high-net-worth individual (a rich person), ask your adviser to get you involved. If you’re young and searching, get some finance and operational skills and then find a way to get involved in a socially useful investment proposition. If you’ve got a business mind, there are huge opportunities to build the infrastructure (creating measuring systems, connecting investors with deals).
David_Brooks  capitalism  impact_investing  hard_to_find  Michael_McDerment  high_net_worth  new_graduates  skills  passions  passion_investing  TBL  social_impact  measurements  high-impact  heirs 
january 2015 by jerryking
Heiresses Get Down to Business - WSJ.com
September 21, 2007 | WSJ | Robert Frank

Heiresses Get Down to Business
Today's Young Rich Skip the Lunching, Launch Companies.

A new generation of heiresses is redefining what it means to be a socialite. Rather than trying to climb the social ladder through charity work and elaborate parties, today's rich and restless want to make their mark in the business world. They don't want to be ladies of leisure; they want to be ladies of commerce, more interested in creating their own brands than making the A-list.
Robert_Frank  entrepreneur  entrepreneurship  product_launches  high_net_worth  brands  personal_branding  impact_investing  social_impact  women 
august 2012 by jerryking
Goldman Sachs to Help Fund NYC Program to Cut Jail Recidivism
Aug 2, 2012 | Bloomberg | By Henry Goldman.

New York City will try to reduce the recidivism of young male convicts housed on Rikers Island with a four-year program run by nonprofits and financed by Goldman Sachs Group Inc. (GS)

The bank will invest $9.6 million through a so-called social-impact bond, meaning it will profit only if the plan achieves its goals. New York officials said the program is the first of its kind in the U.S.

“In this new model, private investors fund the intervention through a nonprofit contractor and the government pays the contractor only if the program meets its goals,” Mayor Michael Bloomberg’s office said in a news release.

For Goldman Sachs to earn a profit, the program will need to reduce recidivism by at least 10 percent. City payments to MDRC, a nonprofit social-policy group created by the Ford Foundation that will monitor and run the program, also will be based on its degree of success. The Vera Institute of Justice will independently assess the program’s effectiveness, the mayor’s office said.
Goldman_Sachs  New_York_City  recidivism  incarceration  nonprofit  bonds  Michael_Bloomberg  social_finance  social_impact 
august 2012 by jerryking
MaRS to launch Centre for Impact Investing -
Sep. 28, 2011|The Globe and Mail|Tara Perkins

The Centre for Impact Investing that is being announced Thursday in Toronto will be launched with $1.3-million of financing from the Rockefeller Foundation and the J.W. McConnell Family Foundation.

The total Canadian impact-investing market is currently $2-billion, according to MaRS, but is expected to grow to $30-billion in 10 years. Proponents, such as the Canadian Task Force on Social Finance, say governments must make a number of regulatory changes and buy into the concept before it can take off.
Tara_Perkins  impact_investing  MaRS  social_impact 
september 2011 by jerryking
The triple bottom line : how today's best-run companies are achieving economic, social, and environmental success-and how you can too : Savitz, Andrew W. : Book, Regular Print Book : Toronto Public Library
Andrew Savitz' text centers on how companies can become more
profitable by doing the right thing. The author first looks at how and
why some well known corporations have begun to respond to pressures for
greater accountability in recent years, and then offers corporate
leaders a set of tools--must-do's, don't do's, and simple charts and
lists--and stories demonstrating how to adjust business practices to
achieve sustainability.
Agincourt
Book Nonfiction In Library 658.408 SAV
TBL  social_Impact 
august 2010 by jerryking
Giving Till It Works - WSJ.com
Oct. 10, 2008 book review by Richard J. Riordan which looks at
the rise of billionaires who increasingly, are attempting to apply the
lessons of business success--monitoring investments, measuring
results--to their charitable efforts.
books  moguls  book_reviews  charities  entrepreneurship  capitalism  nonprofit  philanthropy  Eli_Broad  billgates  benefactors  passions  impact_investing  social_impact 
january 2009 by jerryking

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