Nothing Ventured, Nothing Gained
Jed Emerson and Tim Freundlich asked me to join them on this paper one year ago at the 2006 Skoll World Forum, after I said something relevant in one of the plenary sessions. The structure of the nonprofit capital market has been something I am dedicated to trying to both understand and influence. Since I come from the Silicon Valley venture world, I'm familiar with a capital market that is tough, but very much provides incentive to accomplish the goal of maximizing financial returns to investors. The nonprofit capital structure is more complicated, but it could be augmented with some new approaches that would drive the goal of maximizing social returns to society.