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Well welcome to Fox Business flattened -- there -- -- with the the founding father -- -- here for the next hour Dana -- the intersection of profits and social good and we're going to be a bunch of -- can -- capitalism to -- social problems and explore.
What you may not be in touch with our Philanthropic side -- -- I don't know I don't know I'm -- and that's our probably find out what that's like one of these shows that come back to -- this is not comfortable deep into -- we begin with a look at.
How off funding landscape by the -- last -- for social entrepreneur worse the people who take a business approach to solving.
Social issues is shaping up in our -- this is looking to fund these -- -- large Lewinsky.
Senior vice president of -- being green is with this in -- you're in the business of investing in in this type stuff and -- social change right that's a that's a growing business to be it if there is.
It is a growing business now.
About fifteen years joining us directly in this field are locked in a room and no one I've heard of such partnership now they're -- -- only exist fifteen year I -- -- -- years of he knew you're in your console like back then probably -- that's right we are organization echoing green -- about 25 years ago.
By the leadership of a private equity firm and we are -- -- maybe a handful of organizations focus on -- hunt bears now there's.
Hundreds if not thousands of organizations -- of -- social areas -- -- social entrepreneur it's a special actor a special person who has a bold idea to solve a longstanding social problem and we'll use.
All their different qualities and skills to implement the new initiative to that will address the problem at -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- So what are the big trends in the business now -- you said you've been that the companies -- -- for twenty some years you haven't for fifteen years so.
What are people into right now that you look for terms investing opportunities.
Echoing green is the seat under -- he wants new organizations nonprofit for -- hybrid.
And what's really interesting is when we launched 25 years ago we've only got.
Nonprofit organizations applying.
And before 2007.
We only funded to for a -- hope that we don't care that shall we want.
Nonprofits for -- -- want the best -- -- -- the final reflection of how people wanna make money now people are more -- -- for profit -- because of the crisis or what I think -- do that people are using different models and people are open to the idea that you can actually do well and do good at -- exact same time.
-- you get funded then where's the money come from to see these companies yes well -- -- -- we are launched by private equity firm -- -- a long history working with the firm that fat ass down Atlantic for the firm.
-- their money through it.
What Philanthropic fat -- and then we also individuals we raise money to essentially given away at your house -- program.
But we we believe that through foundation funding through and through individual planning you you in -- name it.
You give us give us a good example than my real world example because of some something you funded recently are are you Mississippi -- good idea of what really talking -- so.
I'll that we think it's fine but only when we first -- we we funded and woman named Wendy Kopp.
Who -- they send.
Almost about twenty years ago called Teach for America in America it was just stay.
A senior thesis in hand an idealistic young person had a big bold idea and we've helped fund Wendy -- to -- for Teach for America and many.
And you may know how big it is here now.
-- to the point where nobody can get into it it seems like you know alright it is pretty competitive.
You wonder -- the will she get more funding -- not to focus on her business exclusively here but it is interest into a lot of people you would wonder if they could -- expand that to make an even bigger than this.
It expense pretty much every year every year gets bigger and bigger it's it's it's just tough to keep up with so many people wanna do it it's.
Now there's often international arm as well yeah -- cool idea.
OK so what are some of the risks that these people have to worry about Armenia -- come to you what I need to present to you in order to get money.
Sure affiliate open application process anyone from anywhere over the age eighteen who has an idea.
To launch an organization that's independent can apply.
And that we look for people who have not only as Smart and but a really big bold idea.
And we want people to to what we're not about finding the same thing in a different location they're really looking for breakthrough ideas can be breakthrough product can be -- breakthrough model it's about trying things in a different way.
We're also looking a lot at the individual who is this person why they connect as to why they want to do this work.
Are they resilience to they have sort of resource magnetism would they be able to attract other people.
To allow their organizations their business to growing growing groundswell that you're -- has your return on investment.
Well because -- -- Philanthropic organization.
We we don't we look for more social change but having said that we have funded about thirty million but the -- going you have to -- investing.
Data processor yes we and our -- have gone on to raise close to a billion dollars over time with about 44 -- Wouldn't bow out and says you invested 28 million dollars in over 400 anyone's social entrepreneurs and it is -- like is there a new goal going forward that you want to invest X amount of dollars going forward.
They didn't really matter what comes your desk.
We want to find consistently about fifteen to tiny everything -- even more every single year.
And because our application -- become even more competitive Maher -- people are graduating from school with big ideas.
And we're hoping to ground in this it down job market can help them -- or -- or heard about it now.
This is fueled me you wouldn't go and work in -- traditionalist as we can get that's exactly right we're seeing a lot of people saying -- now at the time to leave because.
I'm not making a profit and here I get it and sitting with and it's really my application to see it -- that's adjusting well good luck with it thank -- I'm not spank him.
-- for coming and market Lansky with this echoing green you got -- -- -- -- and aren't so.
Question becomes what does it mean.
To be at a social entrepreneur who -- from San Francisco right now David Bornstein joins us David.
As -- social entrepreneurship what everyone must know and it's it's a good place to start right David what does everyone.
In following up on Lamar was talking about need to know about this business of social entrepreneurship.
Like that's the main thing that's happening is that you know at every level business is changing and the social environment is changing so that if here.
You know the customers are changing the workforce is changing people want work life balance and meaning.
People who are buying products want social dimension to almost all of -- purchase decisions so if you want to be competitive and business or social problem solving.
You really need to understand the landscape of social entrepreneurship going forward because there's.
All of these new institutions some non profit some businesses.
Some hybrids which makes both.
And they're really sort of redefining.
The delivery of value at all levels of society.
I could make a joke that this social entrepreneurs on the bar club scene but I won't.
Event and so what what what.
I'd say it is is social entrepreneur or in it for the money.
Or to save the environment.
So I would say I would define -- -- partner is someone who's primarily interstate at the social impact.
But realizes that they need a delivery system that works and can grow and can sustain.
But I basically I think if you look at most business entrepreneurs really successful business on governors.
You'll also find that they're real deep motivation is to change the world in some way if you really boil it down.
They of course want to become.
Successful and and profit is a big master of that but a lot of the studies on entrepreneurship.
Have shown that the deep motivation and anyone who build something is ultimately to build a great institution.
And to change the world and created essentially like the kind of a kingdom.
That is that is of their own imagination I mean so that the motivation for all entrepreneurship usually as much deeper than just making money.
Well that's the thing -- site imagination might have been the keyword you use there because it doesn't normally I don't get the impression that your time back cookie cutter type of people want to some.
-- Wall Street training program and then go to business school and come back and working Goldman Sachs and everything else in the TV -- -- or that we're even worse right so I mean you're for example.
-- what Europe this is what I read about you enough you can admit it up at your computer programmer than you -- like gosh you are journalist.
And you go over to Bangladesh in your writing about micro credit so I mean not everybody does that type of stuff something that's what that is that would let him.
Talk about your own story is probably valuable to people who are watching and wondering how people get into the stuff stuff.
-- -- I was a computer programmer found that really interesting but wanted to ask them I guess maybe some deeper meaning in my work but it's to journalism.
I found that I was reporting on a lot of problems and every time I tried to report on something that I thought was -- creative solution my editors told me hey watch -- you're getting into advocacy.
I think we'll wait a minute I'm not advocating for the problems that I write about -- the right -- -- Sam advocating as soon as I write about a solution.
So I felt that it was important to add into the mix of journalism.
More offerings about solutions and one of the things that really attracted me to social entrepreneurs is that all entrepreneurs are basically misfits -- -- these really.
Interesting people who find that they don't quite like the world the way it is and they have to create something new in the world it may be a business it may be an organization.
That solve some social problem that they really care about.
But there's great energy there they usually build teams of people who they -- lots -- people together who are.
Very motivated to build something new.
The prophet has been greatly over emphasizing the whole story about all of entrepreneurship it's.
You know just the way kids like to build things -- Lago entrepreneurs like to build -- real things in the world.
That work increasingly what we're seeing which is the most interesting thing.
Is that people are now finding it possible to build structures that kind of pull themselves together that integrate themselves so.
You don't have to be like.
But was pretty tough minded and the patience when he was making his money you don't have to split yourself like that.
You can integrate.
Build a great business but at the same time allowing your values here in fast and really have an impact in the world.
And and you know there's more financing for that hopefully in the future they'll be more journalism too that that tells us what it looks like.
But why explosion -- -- do you think I mean essentially it's been around for awhile right started back with the women's movement we've always have been able fine for political freedom.
Somebody starving themselves somewhere in the world and they've been for centuries now.
I wonder about the crisis impact we -- about what -- like whether you know because we went through this tough time that people are more motivated.
Maybe than before for either because they have to be or they just look at the world differently right -- I'm unemployed and I want to end.
There is something worthwhile or I'm disgusted by all this capitalists and stuff I don't Ivins is different people have different views on you know.
I think it's you know it's it's everything.
You know that you just -- and more I think there's.
The supply of people who can be effective social entrepreneurs has increased not only the United States but around the world.
Because of political freedoms the woman's movement the flow of capital much many more people go to -- is the growth of the middle class.
But at the same time the demand for solutions.
Has also dramatically in.
Are not necessarily solving the problems that we need them to so we have a lot of twentieth century in some cases nineteenth century institutions.
That are trying to tackle 21 century problems.
And there's a real mismatch right and like the human brain is basically do the wired to survive I mean that's what we evolve to do.
And people all around the world are saying hey we have some serious problems here we need to.
Reinvent a lot of the structures education health care spektr's.
The way we figure out you know how to run businesses so that they really respect social needs environment -- What's your favorite by the way could I ask I thought -- -- he had a great example of the Wendy -- which -- everybody kind of identifies with teach for America's been around and been very very successful.
What about in terms of -- -- worked with her a chance to see you're right about -- what what your favorite example -- the years.
So I really love -- is an organization called player works.
That and it instantly that's quite different -- -- would Teach for America and the charter school movement is doing.
They -- a lot on on testing and that the academic.
I really believe that the social and emotional development of children and -- and getting an education system that really helps children play and grow.
And be much more comfortable and -- of emotionally intelligent is really key.
And play works is a great organization.
They go into public schools and they help them recreate recess so the kids really learn how to play -- this might sound like a simple thing like.
Sure all kids know how to play but in fact -- is a very highly developed skill and children learn how to play.
By hanging around outside with older kids who teach them the skills of how to solve conflicts and stuff.
But because of the way we're bringing up our kids today in the United States where we're so afraid to leave them you know.
-- for -- five minutes with kids actually have not developed sophisticated place skills.
And so lots of public schools have actually gotten rid of recess to cut down many schools have banned tag believe it or not.
Because the kids don't actually know appropriate touch and how to play.
To play works goes into these schools think they've gone there in hundreds of schools now and they're growing play were -- actually hit how to.
How to organize their own games how to solve conflicts essentially play if you boil it down is basically citizenship.
Play is about making voluntary agreements and committing to participate in this structure with the people I respect that Specter.
Lot and that's why.
I think we human -- -- You -- a -- play against you outlined thank you have to win.
You so much and did the web site is Dow's or DO WS ER dot or great.
And that's solution journalism -- we're trying to offer a lot more solutions.
And let people know.
What's really going on -- -- to solve problems.
And excellent thank you so much David -- seen.
Author of social entrepreneurship.
What everyone needs and now.
-- -- coming up we find out from one social entrepreneur -- what it's like to keep -- business going in this tough economic environment.
All right have a lot of fun it's always hear foxbusiness.com.
Talking social entrepreneurship -- -- things and not just.
A feel good idea it's actually a growing part of the business so landscape as we've been telling -- we -- someone who's putting principles into action yeah.
Now from Washington DC will -- -- founder of small planet partners joins us now live -- be less.
Thanks for having me OK so first explained what small planet partners does everyone.
But we -- we are is that what we call a social enterprise catalyst we we believe that every organization whether -- for profit or nonprofit.
You know operates from some found its foundational business -- so we.
You know it achieve those goals help organizations achieve those goals.
But also while considering the impact on environments.
And people and and profits -- -- and currently we have.
Who had -- gadgets are currently you have what -- -- -- you -- not currently we have several pockets going in north North America the Middle East and North Africa.
I loved your book yellow pages example -- ask you talk about here.
Author's second he's just got the phone book you know our house as we you know we always do and it's one of my wife's pet -- that I actually -- took to drive me nuts to about -- still get.
That's the point like we have we never use the stupid thing and I have -- if you know.
On the -- needs like reach up to get something higher what do I am an elite outside and it gets wet and then you go and you are in the garbage -- -- you had this thing for this -- that this that is amazing.
Of paper or wasted on phone books each year enter will open and you guys do what.
That's exactly right we're working right now with a nonprofit called the product stewardship institute.
In fact if you want to opt out of yellow pages.
Viewers go to product stewardship that dot you asked right now and you can find a link to opt opt out of yellow pages on their site.
Essentially the the amount of paper that's wasted in phone books.
The product stewardship institute with our company and to industry associations.
Are working together so people to make it easier for consumers to opt out of receiving unwanted phone directories.
Really the amount of paper -- today.
Amounts to about 63 million dollars in real cost of local governments are paying.
And certainly there are strapped for cash right now and in terms of the paper waste itself.
That's the equivalent of essentially land -- -- incinerating this incinerated about 60000 school buses annually.
Now we get congress not to print out any of the bills that they work on and as medically had to cut back a little bit and then we -- phone books and save a lot of money I save a lot of trees -- the people.
Officials in your text and so I still -- -- -- -- let's say I'm interested in make.
Making that my company more environmentally scene if I could say that to live called in to weekend touch if you do you approach me.
How does the whole relationship -- I mean essentially.
Our business our company focuses on -- global issues which are affecting.
Brett really everyone in the world their beaches -- water.
Waste food and energy.
So essentially we have a small quick team of of people who are problem finders we like to call them.
And a vast network of problem solvers -- in some cases we approach organizations that we think we have the right.
-- expertise to help and a lot of times they come to us as well.
People you know our our network consists of people who are product product policy experts.
Social scientist -- emphasis on sustainable behavior.
Social media digital marketing which are important efficient tools to act you know to engage consumers and find like minded people to to make a difference.
What's your vote really.
As you say what's your favorite project is we've had two regiment who doesn't could be the yellow pages thinks like I said that was my favorite you've worked on so that is that's fine but -- -- something else.
-- to education examples on the show so far what's the favorite one that you've worked on.
I think what what's really -- -- these -- is is reducing waste because it's such a simple thing to do.
You just need to be Smart to an elegant and there's many many easy ways to do that for example.
Eagle envelopes -- it is an affiliate partner company of balance and essentially the standard number ten business envelope and you know reply requested mail.
Is an area where a lot of companies are saving.
-- basically 225050%.
By eliminating one of the envelopes so some of the designs that we've you have developed.
Have -- peel off label that has a return address on it.
And are our partner has they print it basically invented the QA -- -- -- -- people -- -- -- So essentially there's a lot of cost savings associated with that and as well as environmental.
You know impact that is reduced as well.
-- will name a few seconds left but if we wanted to get in touch with you how do we find small planet.
-- on the web WWW small planet partners dot com.
Well thanks so much and they want us when phone but -- I think you know I'll take.
Willow lending founder of small planet minors act coming up.
-- the corporate giants are using their needs to make a difference there.
-- -- Our -- a social good is often seen in black and white with non -- on the good side and corporations of course I was playing the bad guys.
Evil evil only hungry bad guys but those big profits actually can make a big difference.
And rob Leary -- here's the CEO of ING insurance US Solder joints talk about corporate citizenship a little bit.
-- so that's another deep topic but I NG investment challenge is one of the things that you guys here are behind.
How does that.
Work both actually -- great program and there is a difference between.
Good and evil we think there's a way for capitalism to have a conscience and as the sixth largest insurer in the world.
And a very large investment manager we we really try to do our best to.
Bring corporate -- US ability to work does that help you make money in the long run I always wonder about that we talked to see us because a lot of people say that.
And then I wonder if the motivation long term enough and there's nothing wrong with that is because it in -- your business because you seen you know in a better light also.
Yeah it's not the motivation at all you know actually we do very well we make money better but I BI NG foundation which the primary way that we actually give money to communities in which we operate.
We do it really because we think it's the right thing to do we think overall we have a responsibility.
Within the communities and within their countries that we operate.
And so in the US for example with the ING girls think investment challenge -- we try to promote things like for example financial literacy and learning to save.
We also do things for education we also do things for the environment.
And we also do things for diversity we believe those things very -- community values.
Not because they help us make money.
But you know you do have to focus I think you make a good point you know we could do all things to all people but we try to focus on the things that we think we -- A lot of -- -- that we try to give back in the communities and so for us.
The IG girls think investment -- something very targeted at financial literacy.
It helps girls in particular thirteen to sixteen in six different communities.
Learn how to save -- -- -- mutual funds.
We give them a virtual and amount of money.
That starts at 20000 dollars -- -- school these teams that invest in mutual funds eventually in individual securities.
IG employees get a chance to volunteer and help out help them learn the employees themselves feel good about that with their volunteer time.
And over time.
The profits they -- two thirds of it go to scholarships for post secondary education and the third goes back to the girls think facilities that -- these things.
I think they're just look at some pictures of the girls.
Who are involved in it that is it was a question I had how -- an organization a big corporate organization decide basically.
Where it's gonna put its Philanthropic efforts you know we've had Charles Schwab here and they're very they do a lot of work with the Boys and Girls Club how do you make -- who makes the decision is it.
You know the CEO as a soft -- firm.
Financial literacy so -- that's what we're doing and -- it somebody has cancer in -- Stanley so we're all gonna focus on the American Cancer Society how do we decide where the money's gonna have.
You know its first vote if the Foundation's board and certainly see I'm on -- and -- -- -- -- we have other business leaders on the board as well.
We really try to say where can we make a difference what what are the needs of the communities that we serve in.
Sometimes they have a lot to do what we do so there's an uphill so for example the environmental part.
We want to be good corporate citizen we want to do right by environmental causes.
Sometimes it's education.
-- -- it's more broad so we're leading present were room believing retirement plan provider.
And especially in the kindergarten through twelve barrier provide 41 K plans and solar plants.
So we do.
Run for something better childhood obesity is a big issue in the United States -- really epidemic proportions.
So we've been giving money for -- either expand or start running programs.
In schools throughout the United States to get kids running -- we find it -- their self esteem.
We find that it helps them do better in school and of course it combats childhood abuse which is a huge huge issue in this.
In this had a lot of people are tackling that now which is great the other issue obviously come back to briefly because you mentioned it.
Was the financial literacy.
Because that seems to me is so important as well and I'm curious as to why.
The -- you can win obviously.
Why you're targeting girls and financial literacy.
That's supposed to it to two boys do you find it's an issue that maybe is underserved -- why the target.
For the for girls wolf -- -- -- we tackle all Americans you're not just not tissues and so men and women boys and girls.
Girls in particular because one of -- we found was that for a lot of reasons historically girls -- getting as much education about financial issues.
And yet we're finding it increasingly in fact in over a majority of cases and in the majority of the households in the country.
Women are actually making the peninsula -- but by the way they're not as well equipped you -- we really want to get out that quickly.
And really want to make sure that I didn't make decisions.
And -- -- you have girls and lower grades that I don't think we see the disparities much coming up the ranks now the -- but it when I was young it was.
I loved math and they thought that forehead one of the problems with it's -- -- talk about -- -- my -- time gives -- some math teachers who teaches teachers how to teach math is that.
Teachers often come in with these pre disposed notions of saying -- I hated math and and they are often women and -- set that example.
And then all the girls -- the -- like you -- I mean do you find that school from time with a live did because -- it was I don't remember fringe.
Liking it they thought I was strange what you -- -- Honda Civic -- me into engineering which is even worse because it was more you know more male dominated and then I finally just you know became an accountant.
You're -- find and and dived fifteen year old daughter so this is very much at home for me and and so we really have focused from the start on.
Really trying to understand that the financial literacy is that the real fun will probably -- -- of security before is that.
We don't know how would you -- on Social Security in the future.
More many of us Americans now have a defined benefit plan so saving on your own and really looking up for your retirement.
Really we have to rely on ourselves more and more so we have to be educated more so it's not just girls although we're focused on girls and women who were also focus all Americans.
Take more responsibility be educated learned we feel like we have -- social obligation not just for our own benefit but for everyone's benefit.
Two to help educate Americans on how to save and how to get ready for our -- to -- Point because and you think about how many of us and how many people maybe and then.
Whether it was detect up more in the most recent crisis just had blindly not even paid attention for when Casey got hammered as a result of that and then.
You try to prevent that I'm sure next crisis or an -- problem comes up absolutely yeah.
Thank -- -- thank you very much.
Thanks and you have to have rather is CEO ING insurance.
US interest and so it's good though because it.
The tide to -- -- as I was saying when I went I went from.
Liking math in high school to engineering.
Accounting and that.
All along the way the Atlantic for women.
Yeah because there's nobody -- said things have changed -- mean.
But there is still as you said in your wife probably can talk to -- more so than anybody that there's still this preconceived notion.
That girls don't like math or side.
Thought drives are not yet because and then she tells teachers that's your personal time just leave that leave your.
Baggage out of it because -- setting a bad example for the kids pat and I ain't my girls love -- thank goodness that is some minds aren't really solve all the world's biggest.
Steal from their brother and he won't you have no idea it's all about that all right moving right along -- Amazing tradition that no one can turn down.
The good all American makes down and it'd been helping teens and charities raise money for generations our next -- -- the idea and moved it online.
-- 15% of every purchase goes to a charity of the customers choosing.
Joining us now is Emily -- -- founder and CEO of speaking for good and should brought food online banks and I have to say anything on for those are brand they're good looking at the sympathy -- in -- And that can have -- and a perfect how.
-- -- -- -- -- -- -- -- -- An industry.
I can tell us how it works and how you started it -- so -- Forget that the comment bake sale without brownie thing -- if we -- the nationwide and 15% of every precious -- -- at the customer chooses -- check out.
I grew up thinking I also regret fundraising I love to listings make -- -- -- and do things for my community.
Angela -- to -- -- I -- I was in a corporate job I didn't necessarily take time to get back and I think speaking -- that it was smiling -- connecting with the nonprofit community.
Getting back installing myself and also inviting other people and -- giving -- -- when they're hosting and that.
To get back themselves antigens are carrying that's very important -- Other great idea here since I was so repeat that against a 15%.
Everything that people -- it goes to a charity that they -- so what do you have if you go to your website and you have a list of charities and how do you pick those charities -- deal.
Exactly we have about a hundred nonprofits and community fundraisers that -- working with right now before we -- you are reaching out to a broad range of organizations.
Across multiple categories.
To bring them on board and then once -- -- launched in September of 2009.
Organizations say reaching out to a solid time to get involved and see how they could have a virtual makes now.
And for the customer at checkout does see the long list but they're always welcome -- suggests that cost us.
And if I want talk about -- the causes get involved.
You know conflict could my son's Little League team to OK absolutely but to me as a total outsider let's -- come holidays -- let you know like send something to someone.
This actually really nice thing to send them correctly from -- I send something to someone on the other side of the country.
And Natalie do they get it -- -- they get and they know that 15% of the purchase went to some exactly they'll receive the treats an -- on great eco friendly packaging.
And then they also receive a card that explains the making for that concept and says 15% of this purchases going to do the American Cancer Society at ASPCA or think about this based kids they stopped in them and I am so excited to come up with this it doesn't and -- -- doing it for example you know I don't think that you know they.
I was thinking about the idea that they -- everything's online these days but went out and makes -- like another and I don't seem to be other banks especially not in this place in this land of -- -- I get my kids Little League.
Team involved in this.
You contact us that we -- not just how confident that they can prevent dot com we'll send you all the information we need to creative teams -- -- dedicated page for an Little League team.
And then we'll provide you with things like coupons -- -- -- not at at at advance.
You could send out.
Really to just get the word out however and then what I'm doing is just encouraging people to go to your site and by the products show that fifteen and put it they'll still have to make the choice right -- -- to make a choice to fester and they're not necessarily gonna -- this -- but.
Hopefully they love -- I haven't found out about it.
And -- I don't think that for -- is our condolences -- -- weddings review and that that favors and treats for -- at weddings that -- And.
So it's baking is just forget he had just heard they can forgive dot com is the website for that dot com -- for good no less -- baking for good dot com and then the email to -- contact you again hot that they can prevent that console and it causes at speaking for glory and thought they -- forget that com.
Now I don't want more it doesn't cost -- -- and you doesn't come forth and yeah my opponent I don't know that it doesn't cost anything to get my.
Whenever some little -- of the church or whatever involved nothing at all and -- -- even.
15% automatically does but they can also add that donation check out the people around that's the next ten dollars or -- -- 29 -- there -- and -- shot -- -- home -- bed and then minutes I don't.
So the food's good.
And -- made up on that one I don't testing thing you know in the middle of the street and I think it's brilliant painting and it makes it.
-- -- primarily with the -- California and using organic ingredients eco friendly packaging.
Yes it's perfect but we did that -- think -- like this out on the handling the blood banking cell -- Right now.
-- Emily governor founder and CEO baking for good.
When we come back how the buttoned up world of NBA programs is getting in on the act as well back stay with us.
But that's okay MBA programs are known for young go getters look at -- get rich and business and that's probably still -- I certainly was one of them.
But now -- are increasingly looking to help others as well actually go getter and bad in my helmet and -- about it.
It has now that he is not racist and who's the -- family professor of social enterprise.
Director of the social and of.
-- program to Columbia university.
Here in New York the Columbia Business School.
Thank you Greg -- to meet you and thank you very much in coming in -- having so I didn't even know a program like this existed but it how popular is.
So when I arrive to -- -- it was eleven years ago.
A program like this essentially didn't exist and it's grown to the point where really we touched the lives and indications almost half the students of the -- of -- since school really.
-- one way shape or form in one way shape or form whether through courses -- -- focused on social enterprise.
-- are nonprofit board program or summer intern shifts there -- a lot of students involved.
If it part of it is it required part of the curriculum or as an elected.
It's not required but as you suggest a lot of students elect to take part -- really been a shift even over the this.
Most recent decade.
In interest among business school students in these issues where management meets did the social and -- maybe you can get at this question and that we were asking earlier in the show as to why that's happening because I'm sure the students give you reasons -- of course they give us reasons and I think a couple of the main ones is have been a convergence of two forces -- -- People who are interested in making a difference whether it's educating kids are eradicated poverty.
Or as saving the planet have come to realize that this is best accomplished.
Two effective management.
So they're coming to business school and learn how to manage things -- is it that change stuff from the past and apparently.
Well I think -- But we went to college didn't realize that if I mean like what more would be in the bishops are alive and we have a a lot mark.
Compelling role models in this regard if you look at the way.
That for example the new York city department -- that is run it's much more efficient.
Managed to with.
Measurable outcome -- thinking about what they're trying to accomplish rather than.
You know well meaning idealism but with analysts.
Organizational capacity but this it's day.
You know I was an MBA student and you very idealistic in your question and you want -- you -- Do things -- change the world and get out there and then you get disheartened by the fact that you can't change the world.
And then it's gone you're broke you -- money and you can he kick the can you don't.
We -- in fact you -- so.
I think we're seeing a lot of graduates go on to do tremendous -- I didn't want.
Most surprising fact solve this is some of the most as successful venture is to come out of the Columbia Business School in recent years have in fact then social ventures.
For example just to name a couple.
A company called recycle bank has been phenomenally successful in making money and encouraging people to recycle.
On the non profit side one of our recent alarms Andrea -- -- Who runs a well funded and ever extending.
Organization called out to play.
That essentially provides.
Kids and disadvantaged neighborhoods with.
-- -- -- as a couple things here the programs like recycling as the country just becomes over just curious time more open to.
To those types of things are going to continue to expand you would think and I'm sure there's other examples of out of that and just the pace of that expansion would be that the debate.
But the other the other question that I would have is that as the economy recovers.
Do you people become less or more likely to go into these socially responsible areas because now that you know people are making big.
Still on Wall Street again to -- just co -- Goldman Sachs because they say now I get a job there was few years ago I couldn't so this became an attractive to me.
So it's not like we saw this explosion over the last two years.
Right we've seen this over the business cycle now that there's been a suspension and an interest in good times and in bad.
Can I do think it's the case that the recent downturn has made people.
Rethink their value is you know there are some -- Wall Street and otherwise have lost a bit of luck sir.
And I do think that's making you don't think it's just out of necessity it's as people really looking at it and and making a conscious decision.
Where they could or could not get a job that was that you know -- -- more financially -- beneficial I can't look within the souls of our students but I can't.
It's your comment has trained to -- on an us psychologist I'm an economist -- problems.
So bad it's.
-- it's hard to distinguish between these two possible explanations one is.
Goldman isn't hiring as many students whereas in -- -- department that is so some students -- -- But -- you asked me what our students tell us right a large part of it is they are just briefing can Wear their priorities -- And do you think it will become a required part of the curriculum -- and knowing every few seconds left but will become you know a required course going forward.
Well I think in order to properly prepare people to be professional managers it's an essential part of their education you know thank you professor good stuff.
The name -- -- reassessment from Columbia joining us today again the remember tablet professor social enterprise director of the social enterprise program that Columbia Business School in a moment.
How the recession has impacted charitable giving giving and how one hip hop pioneers making a difference in kids lives -- Very.
Okay so I would talk about how business leaders easing capitalism to solve social problems.
So what if you wanna be part of this movement and you I haven't already become an entrepreneur our our next -- is figured out a way to help you put that he's.
-- days from DC we welcome Dennis -- he's the founder and CEO of global giving.
Dennis I think this is it's a great -- -- tell our audience how.
How basically how you get involved.
Well thanks Tracy and first let me just ballot they would prefer what professor -- just talked about there's been a huge up swell of people.
Not only in the United States but around the world who -- social entrepreneurs.
They get a lot of satisfaction from doing good.
And global giving -- -- we're creating a marketplace for these social entrepreneurs and the way it works is kind of like the App Store on on apple.
We allow social entrepreneurs -- aren't part of a large organization already to post a project similar to an apple and apple.
And anyone in the world can go and donate to that project and connect directly to it just the way you can purchase -- apps on on the apps Apple Store.
-- -- if you're saying because you would wonder.
For -- from their appointed you to some of starting an organization.
I guess you give them a bigger platform and today they see a big benefit from working with you as opposed to working independently.
What's exactly right and I've just to use the you know the App Store.
Metaphor again it's a distribution mechanism for them to get out to a lot of people.
-- got about a 100000 individual donors on global giving.
And then a lot of companies are getting into the act Nike North -- -- Dell.
Pepsi has just launched an incredibly ambitious and admirable program called Pepsi refresh.
So it enables them to get their idea heard.
I doesn't guarantee that they'll succeed but it at least for the first time really in history enables an individual or small group to get their idea heard around the world.
What I love about this I -- right now is that you can really focus in.
And on where you want help where you want your money to go and so I'm not acting kids negatively go to this section that kids I can pick where in the world I wanna send money.
Yet here I could send -- a child in India to school for a year.
For forty dollars and that's just crazy so -- do I get.
Because -- -- tax person that hard do I get it charitable deduction for this week do you sending paperwork how does all that work.
Well we don't that he paperwork -- -- online and we reduce your your -- -- -- -- he's argued that don't -- get a tax deductions of green sector if you believe the way do you go online you find a project that speaks to you.
You donate as much as you feel comfortable or are as much money -- you have you see exactly where it's going.
Exactly what it does.
And you get quarterly updates directly from that project telling you what your money's been used for you -- -- -- -- deduction.
And you get connected as building a skateboard park and one of these -- -- inner city kids computers your help people astray he said overseas.
Is any thing or any kind of a trend more popular than another right now in terms of what people want to do to help out.
Well Chris I hate to break it take to you and me as the men but the trend is really toward the women on the site.
And people instinctively realize I think what -- earlier guests were talking about which is.
Women have not only been underserved in terms of education then and support and becoming entrepreneurs.
They've got huge potential.
And they play a huge role in the development not only the family but the health of the community in the health of the nation.
So we see a lot of interest in educating women and girls on the -- good.
Environmental projects are also on the rapid rise you know helped by.
Everything from global warming to the spill and the in the and the gulf.
But it there there's a wide variety of things I would say those are two of the top ones.
Dennis can you talk about the whole notion of that.
A global gift card I can give this as I can make a donation on behalf in some announces name can you talk about that.
Right that's become really popular around the holidays a lot of people written into us and say you know I need to get some of my uncle frank but I -- -- -- -- last year and some old spice after -- the year before.
He really doesn't need anymore stuff.
So can you.
And creating gift card that we can give to him.
So either he can choose a project on the site or we could -- a project for him and he'll get a really nice card that says.
You know your niece Tracy.
Helped put a girl in school for a year in India in your honor -- have been incredibly popular.
Offended I had to ask issue of how did you come up with -- that -- at the beginning.
Well my co-founder mark -- she and I were at the world bank for many years and we traveled all around the world and we did these giant multi hundred million dollar projects doing a lot of infrastructure bridges and -- housing projects etc.
And we were out there in the world we notice that.
There -- a lot of people which we now call social entrepreneurs -- we didn't know what they're called back then.
But they were just these amazing individuals whom they didn't need a hundred million dollars -- needed 101000 dollars or 80000 dollars a 100000 dollars.
And they could have an impact it -- often 15 of the cost of the of the cost of the project that we were doing.
At the bank.
At the end of the year 2000.
When the dotcom boom was and it's was -- its -- we decided resigned from the World Bank to create global giving.
Good luck with it -- that it -- Now forty dollars for -- a year of education for child in India that's crazy and it's really it's amazing -- and think about it Dennis Whittle.
Global giving thanks -- -- for coming on appreciate it.
And audibly you know this -- out to the people do global giving dot org -- -- -- like taking.
Close -- just Himalayan -- -- tear to my house you know any you know.
I was so sick clean family channel dot filters off as usual -- you've -- got that XXX as though one of the founding (%expletive) if it's.
Of hip hop that's right run DNC the iconic rap group and crowned the greatest of all time by MTV and VH one down mcdaniels.
Not just DMC -- run DMC also the co-founder of the Felix organization which is why we have you here today as a group that organizes activities for the children in -- -- the Foster care system.
Promotes adoption across the country which is an issue that circles your -- right because you're you're adopted -- that I got into this hole.
Well you kind of fell until this -- found that you know seductively.
After doing -- of -- -- stuff today to thirty.
To make a long story short.
I was at a point in my life -- suicidal.
A call -- a metaphysical suicidal spiritual break.
Because I got to the point -- in my life and I was asking myself.
In my head just to be do you see this -- do what's the real purpose and that and my friends thought it was crazy but made an -- sort.
I said if I do -- -- people -- team see but they don't know about down the little boy McCain can see someone to write a book.
Call mama mama mama mama birthday is may 31.
How much did away what hospital what town she told me hung up the phone how -- -- did she called back.
-- something else to tell you you you was a month old and brought -- home in your adopted this was -- 35.
The -- of -- this sense of suicide.
In a way.
When I realize that I have a connection.
I was given -- -- hip hop to get the gift of music which.
Six scenes where politics and religion fails so I looked at my story is not DMC the -- do first of global personal platinum.
What our -- until these children in the world these adopted kids and -- -- to kids who think they might go and being in its purpose and destiny I had no idea.
I was going to be DNC -- -- -- if you weren't adopted you.
Run DMC wouldn't have been exactly if mom were plummeting give me up a real mother remember came got me.
In Portland how to -- and government running table forget about his -- I would be sitting here today telling the world is the most precious -- that we had.
It's all of the children in the world we're Oklahoma it's a bit situations and I'm represent that -- -- I'm not -- with adopted.
I don't know nobody else who was adopted them -- and another adopting.
My friend Sheila Jaffe we were fortunate to be adopted not lucky fortunate that and we thought about what about the kids who might -- -- -- -- What about the -- -- -- -- what about the orphans -- we say this give them opportunities that we had.
So and Sheila Jaffe is -- cash injection sopranos big time I mean you you but you've created a Tina Hollywood -- -- to run get behind this whole camp so basically what you guys do is you take these kids.
Who are in Foster homes and you give them a chance I have the right -- 500 we we started to Felix we -- camp Felix and our organization is that as a top he's for children.
A top that people get together say let's do some forty skated so originally we had a big plan.
We wanted to put a facility in every city in contact -- -- moral.
But the thing that somebody would have business mind that that's a great idea but I hate the thought smaller cash and issue we had about a tenth it's okay what do we do so the first thing to do with us to -- camp that's something that's possible to do so we can at least get the kids.
In a place together so we started small with the camp.
But really what we're looking ahead Felix on decent facilities because even though the kids are in the -- -- -- system.
Does a lot of things that's lacking in my life skills you know these kids need to be around other people like kids look at -- go.
He was in Foster care system.
And are you successful they'll look at -- the caddie look at the businessmen like we have Michael -- You know he's he's down when us and stuff like this so they're looking at -- faults and all areas of life.
That they could be an especially the fourth -- -- in the city kids they think to think three things.
They could be a drug dealer.
They could be a -- book an idea athlete no you could be adopt the lawyer journalist the we -- exposing stiff and opportunities -- 500 dollars since a kid to camp for a week.
But why is that process the adoption process so -- in the United States why -- -- -- I would consider it Sunday and why.
Does everyone have to go overseas in Atlanta when there's so many kids -- -- -- -- -- Water so them that's that's a great point now it's just good to give any kid a chance.
But we got so many children hand in nine states who are in need of a family and a lot of people get -- -- of adoption to.
So you know you think adoption thing for secure but -- also meant to ship.
A lot of times these kids just need people to call them up maybe once a week and say.
How's it going.
Housing issues I'm rooting for you and it could change these kids' lives but the thing that we try to do with.
Bring these kids that cafe in a placement -- see of the kids might sound and they can be a waste of these kids who have left their blocks before so if you could expose them to -- things in the world and expose them to different people you know away from the drug dealers and away from the things they see every media group contains the -- and it's a -- time to change the kids' -- and change this country.
You know these kids will grow up to be the next doctors lawyers not an empathetic kids in Foster care system who -- make -- the college.
Still gonna have these things -- -- and scientists and writers and holiday.
99% of them switch them agents to become social workers because they feel -- did do need to go back and take those kids opposite to where you know it's -- -- -- -- -- can be really -- for -- -- However many years from now on one of these kids becomes.
Something -- senator exactly Soledad and they calamity and and then and they thank you that decreed that I'm I'm sure that'll make I don't -- that's why also with the can't we started -- -- -- Could this one thing to bring kids to camp -- -- someone depending go back we -- to continually.
Beaten these kids' lives throughout did care about Sony has your back to Korea facility gonna look at what to get a -- Boys and Girls Club type thing are different and -- idea -- -- -- Boys and Girls Club type thing but I think with thinking you know how many CF.
Hospital complex you know we -- -- have recreation and we wanna have education.
Which is key because a lot of these kids you know they don't even if they don't go to college we need to teach them the skills and also.
It's important that you can -- with these so called.
Underprivileged kids we need to change a dialogue these kids think underprivileged.
If this sort of derivatives give them a privilege but these are children of purpose.
And yesterday -- on the next mean.
NASDAQ however have right now some -- tell people if they want to donate they want to send money had an idea you go to our website WWW.
Not atop these for children don't own a 500 since.
A kid to -- Full week 500 bucks can -- camper we've -- -- three weeks up in any act state.
It's an awesome organization check it out down mcdannold.
Thank you so much and thank you does it for us thanks a lot for this -- great did you catch this program streamlined every day you eastern time Fox Business -- -- we can't.
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