PLY: Palo Alto seeks to eradicate homelessness through SIBs while second up there is a frankly scary message about the social impact investment fad (which I do think is nothing more than a fad, as opposed to the structural change of SIBs), with a rather starkly depressing message: “entrepreneurs who seek or receive Echoing Green funding largely need subsidized financial runway to innovate.” In which case, this is socialism not free market solutions to a better future akin to SIBs. aka #Worryingblobculture. Hence my fad feeling – this is just a government subsidy tier and they won’t work as governments have run out of money …social investment entrepreneurship is not going to work as a subsidy entity, the money just isn’t there and thus the model must adapt.
Sue Dremann – Palo Alto Online
Citing the deaths of two unhoused women in Palo Alto parks two years ago as emblematic of the need to ending homelessness in the city, Palo Alto Mayor Karen Holman announced on Friday that as a first step she will sign the White House Mayors Challenge to End Veteran Homelessness.
Santa Clara County has the highest number of homeless veterans in the nation despite Silicon Valley’s vast resources and wealth, said Col. Nicole Malachowski, director of Joining Forces, an initiative to support military families started by First Lady Michelle Obama and Jill Biden. An estimated 718 veterans are homeless in Santa Clara County, according to a 2013 county study.
One way to get more permanent, supportive housing for veterans is through “Pay for Success” programs, said David Wilkinson, director of the White House Office of Social Innovation and Civic Participation.
Cheryl Dorsey – Forbes
As impact investing becomes more and more popular, discussions are becoming more sophisticated around measuring impact and benchmarking financial returns. Yet while investors clarify their needs and requirements to invest, there is still work to be done to get startup social entrepreneurs investment-ready. It requires asking entrepreneurs what they need and better defining the spectrum of “impact investment readiness.”