Comments on: Patient Capital: A Bridge over Troubled Waters http://blog.acumenfund.org/2009/11/23/patient-capital-a-bridge-over-troubled-waters/ Wed, 17 Mar 2010 05:50:32 +0000 http://wordpress.org/?v=2.6 By: Kevin Parcell http://blog.acumenfund.org/2009/11/23/patient-capital-a-bridge-over-troubled-waters/#comment-174075 Kevin Parcell Tue, 01 Dec 2009 14:11:59 +0000 http://blog.acumenfund.org/?p=2340#comment-174075 Hi Yasmina I'm developing a model that uses bicycles to pump water (and electricity) for local use. I have a bike manufacturer and designer starting to look at scalability, but the pilot project I have in mind would use a local currency to pay people to pump and give a discount on water and electricity (and bicycles and generators for home use) when purchased with the local currency. The goal is both delivering these resources to those who need them most and also local control of essential commodities through a self-reliant local marketplace. I want a piece of that proactive commitment to work together! but I'm not patient enough to wait for GWC to meet again or for somebody to find me, so I've starting emailing friends at the Acumen Fund community website for their thoughts about a community in-house project along these lines -- calling it One Bike per Person (1BpP) -- to take advantage of the depth and breadth of acumen at that excellent site. So far the response is supportive, so I'm commenting here to discover your reaction before deciding to set up a group there to launch the project. Hi Yasmina

I’m developing a model that uses bicycles to pump water (and electricity) for local use. I have a bike manufacturer and designer starting to look at scalability, but the pilot project I have in mind would use a local currency to pay people to pump and give a discount on water and electricity (and bicycles and generators for home use) when purchased with the local currency. The goal is both delivering these resources to those who need them most and also local control of essential commodities through a self-reliant local marketplace.

I want a piece of that proactive commitment to work together! but I’m not patient enough to wait for GWC to meet again or for somebody to find me, so I’ve starting emailing friends at the Acumen Fund community website for their thoughts about a community in-house project along these lines — calling it One Bike per Person (1BpP) — to take advantage of the depth and breadth of acumen at that excellent site. So far the response is supportive, so I’m commenting here to discover your reaction before deciding to set up a group there to launch the project.

]]> By: Yasmina http://blog.acumenfund.org/2009/11/23/patient-capital-a-bridge-over-troubled-waters/#comment-173565 Yasmina Mon, 23 Nov 2009 21:08:46 +0000 http://blog.acumenfund.org/?p=2340#comment-173565 Great point. If there's one thing we look for in our entrepreneurs and our colleagues it's impatience. But Patient Capital now stands as an alternative to the "get rich quick" approach that has gutted our economy and our planet, leaving massive inequality in its wake. So, we envision a patience that enables market forces to play a role even when the dividends take longer to materialize, and are as much social as they are financial. And we aim to get there are quickly as possible, but not so fast that we continue to leave two thirds of the world behind. It's a daily conversation to explain that this approach requires even more rigor, urgency and commitment to sheer excellence than EITHER straight business or straight charity, but it's a conversation worth having. Great point. If there’s one thing we look for in our entrepreneurs and our colleagues it’s impatience. But Patient Capital now stands as an alternative to the “get rich quick” approach that has gutted our economy and our planet, leaving massive inequality in its wake. So, we envision a patience that enables market forces to play a role even when the dividends take longer to materialize, and are as much social as they are financial. And we aim to get there are quickly as possible, but not so fast that we continue to leave two thirds of the world behind. It’s a daily conversation to explain that this approach requires even more rigor, urgency and commitment to sheer excellence than EITHER straight business or straight charity, but it’s a conversation worth having.

]]> By: Paul Hudnut http://blog.acumenfund.org/2009/11/23/patient-capital-a-bridge-over-troubled-waters/#comment-173563 Paul Hudnut Mon, 23 Nov 2009 20:08:26 +0000 http://blog.acumenfund.org/?p=2340#comment-173563 Yasmina- I posted yesterday about my concerns with the phrase Patient Capital. http://bopreneur.blogspot.com/2009/11/impatience-is-virtue.html You might want to comment on how Patient Capital isn't complacent capital. That Acumen still expects its entrepreneurs to act with purpose, passion and speed. Is Acumen's capital really patient? I see Acumen trying to push for real change. I sense outrage with the world as it is. I know how hard your team, and your portfolio companies, are working. Granted, the word has been around a long time, and has many meanings. Patience can mean steadfast in the face of adversity. That's a good quality for a funder of entrepreneurs. But it also implies a deliberative quality that can be counterproductive. I am afraid too many are hearing a soft whisper of low expectations when they hear "patient capital"- take your time, be careful, develop your plan thoroughly, document your metrics and put a scorecard on your website. Yasmina-

I posted yesterday about my concerns with the phrase Patient Capital.

http://bopreneur.blogspot.com/2009/11/impatience-is-virtue.html

You might want to comment on how Patient Capital isn’t complacent capital. That Acumen still expects its entrepreneurs to act with purpose, passion and speed.

Is Acumen’s capital really patient? I see Acumen trying to push for real change. I sense outrage with the world as it is. I know how hard your team, and your portfolio companies, are working.

Granted, the word has been around a long time, and has many meanings. Patience can mean steadfast in the face of adversity. That’s a good quality for a funder of entrepreneurs. But it also implies a deliberative quality that can be counterproductive. I am afraid too many are hearing a soft whisper of low expectations when they hear “patient capital”- take your time, be careful, develop your plan thoroughly, document your metrics and put a scorecard on your website.

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