awesome

from a misty saturday in SM

Here is the most beautiful part about the whole arrangement. The donations to Create Jobs for USA will not be loaned to the CDFIs. They will be turned into capital — equity that can be leveraged. Pinsky and others told me that that equity can be leveraged 7 to 1, meaning that if 10 million Starbucks customers donate $5, that will support $350 million worth of lending. That’s real money.

The Starbucks Foundation is starting things off with a $5 million donation. Schultz is hoping to convince other national retail chains to participate as well — so that Starbucks isn’t the only place people can join in the effort. And, of course, he is hoping that Starbucks customers will flock to it in droves.

So am I. With the government and banks unwilling or unable, it’s time we took matters into our own hands. At this point, who else can we count on?

it would probably look similar if you could chart innovation