Our challenge is not a lack of money, the money is there, it needs to be redirected to innovative ideas with social impact.
If we are to alleviate poverty, we need to stop obsessing about elite institutions that continue to benefit the few and excluding the many.
Henry Ford showed us how to democratize and make accessible to millions of people what was an elite product for an elite few.
We need to apply the same principles for bringing social change.
This model can be applied to other services such as:
- Provision of microlending to startup entrepreneurs;
- Provision of affordable quality legal services to poor people; or
- Provision of social houses to poor communities.
Our success is not whether we build elite instutitions charging exorbitant fees and thereby excluding the majority of people, it is whether we are able to provide quality, simpler, affordable services to majority of people who need it the most.
The test of our progress is not whether we add more to the abundance of those who have much, it is whether we provide enough for those who have too little.
100 years ago Henry Ford sat in an ideas conference like this one where they outlined how the next 100 years will look like. He sat there taking notes. He knew what he is going to do after that conference.
He is going to make a product for the masses, and still make money in the process.
Fast-forward 100 years later, we are discussing and laying out how to apply catalytic disruptive innovation for the next 100 years.
I hope you will look at this and do something about it.
I have no doubt that you will succeed.