Today’s guest is the Founder and Executive Chairman of Copia Global, Tracey Turner. Passionate about social businesses, social investing and international development, Tracey talks to us about using capitalism to end global poverty.
Inspired by a class she took in her first semester at Dartmouth called “The Politics of Starvation,” and by her travels to Africa, Asia and Latin America, Tracey has seen first-hand that people in the developing world are incredibly talented, hardworking and intelligent. What they lack is opportunity.
And having worked in microfinance before founding Copia Global, Tracey is a firm believer that capital constraints keep people trapped in poverty. In fact, in America alone, 98% of venture capital goes to white men and the remaining 2% to white women and minorities. According to Tracey, if minorities and low-income people had access to venture capital, the world would be a dramatically different place.
On today’s podcast:
- How using capitalism can end global poverty
- The advantages of running a for-profit over a not-for-profit when trying to help the world’s poorest people
- Why startups need to stay lean in the beginning
- The world’s greatest evil, besides oil, is an under-utilised mind
- Microfinance is what is good about capitalism, it helps people raise themselves out of poverty
- Why entrepreneurs should embrace failure