Hi I'm Kim Morton from JPMorgan Chase and today we're live from the Robin Hood
Investors Conference in New York City. For 26 years J.P. Morgan and the Robin
Hood Investors Foundation have partnered together to help improve the lives of
struggling New Yorkers. The Robin Hood Investors Conference brings together the
best and brightest ideas to have actionable insights about investment
ideas, but the best part is that 100 percent of ticket sales go to helping
fight poverty in New York City. Since its inception the conference has raised
nearly 25 million dollars for the cause and today we're joined by the captain
the ship, CEO Wes Moore. Wes, thanks for joining us. My pleasure, thank you so much.
Thank you. So Wes, start us off we're here for two days we're talking big ideas
investment what are you most excited to see at the conference this year? Well I
think there's a there's a lot of panels that I'm really excited about and
thinking about the work that J.P. Morgan has done with Robin Hood for years on
this has just been remarkable but I'm really also excited to see about how the
larger markets are going to impact our local communities. You know later on
today we're gonna have a conversation between Stephanie Ruhle, who is also a
member of our Leadership Council, and also Mohamed El-Erian who is going to
talk about global markets and more and the thing that I'm really excited about
that conversation is is an understanding that what's happening in the global
markets is going to have a direct impact on Robin Hood, our work, and our
communities and vice versa, that we live in a completely interconnected
environment and I think that conversation along with so many other
conversations really highlight the fact that none of us are living in our own
bubbles, that everything that we do has implications and positive and negative
consequences on the communities that we call home. Absolutely and speaking of not
living in our own bubbles and kind of the ripple effect of how we can all
impact each other I know that one thing I love is that you also support Robin
Hood supports organizations that through fellowships, grants, workshops. How do you
choose some of the people that you work with? Yeah so I mean one of the great
things that I love about the Robin Hood model is the idea that Robin Hood will both
find, identify, fund and even create organizations all throughout the city
that are impacting New Yorkers living in poverty but that also then have a larger
impact on the larger poverty fighting community as a whole. So in addition to
finding and funding the best organizations we also will make sure
that we're providing more than just financial support to organizations. I
think about programs like our Catalyst program where we identify early-stage
ideas things that that might be a little bit riskier but have a chance of truly
revolutionising the way we think about the work and the way we can fight
poverty organize a and find it and not only provide them with grant support but
then also provide them with operational support provide them with supports
things like no board build and also finding other philanthropic partners
within this space and so we've watched how individual organizations can come to
Robin Hood sometimes small sometimes nascent sometimes even with an unproven
idea but an exciting idea but then providing not just the financial support
but also the other secondary and tertiary supports to help them build and
grow they've been able to make a remarkable impact on the larger
community in which they're trying to in which you're working with so I know the
impact has been great I just I want to take it back to the mission of Robin
Hood is to improve the living standard of over 1.5 million low-income New
Yorkers so what does that what does that mean to you personally you know what one
of the things I've loved about this organization and the evolution of the
organization is that Robin Hood is also very clear that our job is to not is not
to make poverty easier you know our job is to make is not to make poverty more
tolerable for those who are living in poverty but our job our job is to work
to make sure that we are sustainably moving families out of poverty
poverty is not something to be to be tolerated probably something that we
want to help as many families as possible escape out of and I think about
it and not just the the countless families of Robin Hood has worked with
throughout its years I think about the fact that it's my own family the
neighborhood that I grew up in in the Bronx was one of the first neighborhoods
that Robin Hood invested in when Robin Hood is making these
investments they weren't trying to make my family situation a little bit softer
what they were saying was we think there's an opportunity to actually move
this family out permanently sustainably and that's where I think this evolution
and why this mission is not just so personal to me and so many other people
in the Robin Hood community in Gotham ecosystem but why the evolution of a
mission of saying we want to we want to lift New York City households out of
poverty measurably and sustainably and that's how we think all of our think
about all of our grant-making and all of our non grand making abilities
absolutely and one of the ways I know that you all have been exploring
reaching even more of those people and one of the the big ideas we're talking
about today is technology right so I know that in 2014
Robin Hood started Blue Ridge labs speaking of creating organizations it's
a social impact tech incubator can you tell us about the fellowship and the
catalyst program and why they were created absolutely so so Blue Ridge is
also really built and created through Robin Hood but at the the leadership of
one of our board members a gentleman John Griffin who had had his fun Blue
Ridge Fund and was really looking at this idea of saying you know technology
has changed so many lives it's changed the way we communicate it's changed the
way we move it changed the way we live but it has not yet impacted those who
are the most vulnerable in our society so how can we use technology to do that
how can we use technology in order to enlarge him and and and create a bigger
broader conversation about what it means to fight poverty and so that was the
birth of Blue Ridge where it's basically taking a collection of computer
engineers and computer scientists and saying what about if we were to take our
talents and actually focus it towards the poverty fight and so we think about
platforms that have been built out of Blue Ridge a platform you know call
propel fresh EBT which was really started by a guy named Jimmy who was one
of the founders of Facebook groups and he was at Facebook groups for a while
and he made Facebook groups money and then said you know what's the next
challenge that I want to take on and he noticed how many people who receive
benefits that there was a dynamic that around twenty one days into the month
for people who receive benefits their benefits run out and so his question was
what happens the last 10 days of the month for that family for that for those
parents those guardians and created this platform that actually helps people to
not just be able to better access benefits but better manage benefits
finding deals discounts helping them to eat better Robin Hood rules were first
platform was the first platform that invested in it but now his investor pool
includes people like Anderson Horowitz and other larger investors yeah you know
how can we use technology in order to solve everyday challenges and problems
that communities that are the most vulnerable are facing and saying that
there's a way we can have a collective conversation about it and using tools
that are unique now that might not have been there before but we can use them
now to better create a level of sustainable mobility and it's just
growing and growing like you said there's a larger investor pool now we've
got a lot of folks here today continuing to help the cause so what's what's next
what's next for the organization I think the big thing for the organization is we
are going to continue to flex every available muscle that we have in order
to fight poverty you know just earlier on today you know we announced a
partnership between salesforce.com the Lumina Foundation and Robin Hood where
we're going to actually push out a larger in impact investing platform
using the skills and the tools of Robin Hood about how we measure impact how we
use data and metrics and every single investment you make and then thinking
about so then how can you make impact investments on B corporations and also
private platforms that are not just gaining capital and gaining alpha but
then they're also then solving something that is a societal problem how do we how
are we going to rethink the role that import and export plays where Robin Hood
is born and bred and built in New York and it's built to serve New Yorkers but
we also understand that poverty is not a New York issue alone now and so by being
able to use our thought leadership by being able to export the best platforms
and import the things that we're seeing around the country that are working is
really the direction that we're thinking as a larger organization about how can
we use every tool at our disposal in order to fight this larger problem I'm
excited to see it I'm excited to see that come to fruition I'm excited about
that partnership and to see how that goes so I have one more question
you got to get back to the conference one more question alright so you know
I've got $10 in my purse I've got a free hour this weekend what's one thing I can
do right now that can help poverty how fight poverty I think the most important
thing for everybody is to truly internalize what is that issue that
makes your heart beat faster you know whether that issue happens to be poverty
or education or criminal justice reform or the environment or veterans find that
issue that you are basically saying I would give it all up if it meant that I
could address this fundamental issue and then once you do that be able to find
the best organizations that do that work because for all of us for every single
one of us you know the capital is incredibly important it's our life fuel
it's a thing that that we and we always say we will be the most responsible
steward of that dollar but at the same time we also understand that
philanthropy alone is not going to address it so people's time people's
intellectual capital people's thoughtfulness their volunteer time or
simply at times it's contacting a legislator or contacting your neighbor
things like this or all the type of elements that we need in this larger
fight because as we as we know clearly our goal is to make this problem smaller.
So you heard it folks, I mean, what is your passion, go out make that change
happen. Thank you for joining us today Wes, thank you so much for your time, and
thanks everyone who tuned in. You can follow us on social media to learn more
about the conference.
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