Abundance: The Future is Better Than You Think

by Peter H. Diamandis

One concept lately gaining momentum is “impact investing” or “triple-bottom-line investing,” whereby investors back businesses that generate financial returns and meet measurable social or environmental goals. The practice often gives investors a further reach than traditional philanthropy— and this practice is growing. According to the research firm the Monitor Group, what was $50 billion in impact investments in 2009 is on pace to reach $500 billion within the decade. Another of those secrets is a hands-on approach. “It’s no longer ‘I write the check and I’m done,’ ” says Paul Shoemaker, executive director of Social Ventures Partners Seattle. “Now it’s ‘I write the check and that’s the start.’ ” And when they start, the technophilanthropists do much more than just bring financial capital to the table; they bring their human capital as well. “They bring networks, connections, and the ability to get high-level meetings,” says Shoemaker. “When Gates decided to fight for vaccines, he built a team and led that team into meetings with world leaders and the World Health Organization. Most organizations can’t get into those rooms, but Gates could, and it made a huge difference.” There’s one last distinction between the new-breed philanthropists and the older generations, and it may be the one that has the biggest impact. The majority of the robber barons got generous in their august years, but many of the technophilanthropists were billionaires before the age of thirty-five, and...