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March 13, 2007


Give a man a fish, he'll eat for a day. Teach a man how to fish, he'll know how to fish.

But if you provide him with property rights to his own fishing area, which incentivize him to not overfish, and create environmental laws that will protect his fishing area from pollution from the fishing area next to him then you're on the right track. And if you do not overburden him with taxes so that its worthwhile for him to continue fishing then he can barter with his remaining fish for a new pole and bait, heck maybe even a boat.

The point is that micro-lending works, but only in countries that provide an open-system economy like Bangladesh, India, or South Africa. The work being done is tremendous and highly commendable (these three countries alone are approximately 1.5 billion people), but it is important to remember that micro-lending is not an end-all solution. We are a generation away, at best, for this to expand to the countries that are the poorest of the poor (Chad, Sudan, Zimbabwe, etc.) and that it should be implemented alongside reforms.

Are you familiar with Individual Development Accounts? I believe that IDAs could be the revolutionary (yet simple) idea that creates opportunities for poor people in America the way microlending has been the revolutionary idea benefitting poor people in Bangladesh and other developing countries. I love to see the intense interest being placed on helping poor people around the world, but I worry that we're quick to write off poor people in America. I'd love to see you post on what venture philanthropy can best do for Americans in poverty.

"Chinese proverb (surprisingly not a biblical quote as I believed)"

It does lose a lot of its meaning when not quoted in the original Klingon.

All things come back to Star Trek in the end...!

very well written.

Good blog

I hope everybody read this article.

thanks for informations.

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  • For many entrepreneurs, the venture world is needlessly opaque and confusing. Venture capital is both art and science with karma mixed in. With a synchronistic twist, this blog will try to shed light on the world "behind the curtain" as well as how key entrepreneurial lessons are mirrored in everyday life.


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