#758: Jamie Foxx and Jacqueline Novogratz
3Digest
This podcast episode features a diverse range of topics, starting with Tim Ferriss's experience with modern dating and his endorsement of The League app. He emphasizes the importance of online privacy and recommends ExpressVPN for secure internet browsing. The episode then transitions to a "Super Combo" format, celebrating the podcast's 10th anniversary and over one billion downloads. Jamie Foxx shares his early encounters with Kanye West and his passion for music production, highlighting the unique energy of his studio. He discusses his journey from stand-up comedian to actor, emphasizing the importance of confidence and resilience. The conversation shifts to social change with Jacqueline Novogratz, founder of Acumen, a non-profit organization focused on revolutionizing philanthropy. She explains Acumen's approach to investing in social enterprises and entrepreneurs tackling market failures. Novogratz emphasizes the importance of "lean data" for measuring impact and the need for moral imagination in designing solutions. She advocates for impact investing and encourages listeners to take action, highlighting the power of curiosity and love in driving social change.
Outlines
Modern Dating, Online Privacy, and Super Combo Episodes
Tim Ferriss discusses modern dating, highlighting The League app and its features. He emphasizes the importance of online privacy and recommends ExpressVPN for secure internet browsing. He introduces the "Super Combo" episodes of his podcast, celebrating its 10th anniversary and over one billion downloads.
Jamie Foxx: Music Production, Stand-Up Comedy, and Transformation
Jamie Foxx recounts his early encounters with Kanye West and his passion for music production. He discusses his journey from stand-up comedian to actor, emphasizing the importance of confidence and resilience.
Acumen: Revolutionizing Philanthropy and Impact Investing
Jacqueline Novogratz, founder of Acumen, discusses the organization's mission to invest in social enterprises and entrepreneurs tackling market failures. She explains Acumen's approach to "lean data" for measuring impact and the need for moral imagination in designing solutions.
Taking Action on Impact Investing
Novogratz encourages listeners to take action on impact investing, highlighting the power of curiosity and love in driving social change. She provides practical next steps for individuals and institutions interested in impact investing.
Keywords
The League
A dating app catering to a selective audience, focusing on educated and successful individuals.
ExpressVPN
A virtual private network (VPN) service that encrypts internet traffic and reroutes it through secure servers, protecting users' online privacy and security.
Acumen
A global non-profit organization that invests in social enterprises and entrepreneurs working to solve poverty.
Patient Capital
Long-term investments made with the understanding that returns may take time to materialize.
Lean Data
A method of measuring impact by gathering feedback directly from the recipients of services or products.
Moral Imagination
The ability to put oneself in another's shoes and design solutions from their perspective.
Impact Investing
An investment approach that seeks to generate both financial returns and positive social or environmental impact.
Entrepreneurship
The process of starting and running a business, typically involving innovation and risk-taking.
Systemic Thinking
A way of understanding problems and solutions by considering the interconnectedness of different parts of a system.
Q&A
What are the key features of The League dating app that make it stand out from other dating apps?
The League focuses on educated users, verifies profiles through LinkedIn, allows multi-city search, and offers a personal concierge to assist users.
How does ExpressVPN protect online privacy and security?
ExpressVPN encrypts internet traffic and reroutes it through secure servers, making it difficult for internet service providers, hackers, and governments to track online activity.
What is the core mission of Acumen, and how does it differ from traditional philanthropy?
Acumen invests in social enterprises and entrepreneurs working to solve poverty, focusing on patient capital and promoting dignity and opportunity for marginalized communities. It differs from traditional philanthropy by using business principles and investing in ventures with the potential for long-term impact.
What are some of the key takeaways from Jacqueline Novogratz's story about her experiences in West Africa?
Her story highlights the importance of humility, the challenges of parachuting into different cultures without genuine partnership, and the power of storytelling and mythmaking in shaping perceptions. It also emphasizes the importance of resilience and the ability to learn from failures.
What is Ackuman's approach to measuring impact, and how does it differ from traditional methods?
Ackuman uses a method called "lean data" which involves gathering feedback directly from the recipients of services or products. This allows for a more accurate understanding of the actual impact of investments, unlike traditional impact assessments that often rely on indirect measures.
What is moral imagination, and why is it important for social change work?
Moral imagination is the ability to put oneself in another's shoes and design solutions from their perspective. It involves moving beyond empathy alone and engaging in systemic thinking to address the root causes of problems. This approach is crucial for creating solutions that are truly responsive to the needs of those being served.
What advice would you give to someone who wants to make a positive impact in the world, but doesn't know where to start?
Start by identifying problems that you are passionate about and take one step towards addressing them. The work itself will teach you where to take the next step. Build skills and experience through apprenticing with experienced leaders and learn from your mistakes.
What are some simple next steps for individuals and institutions interested in impact investing?
Explore resources like Ackuman Academy, engage with impact investing organizations, and pay attention to where and how you spend your money. Consider investing in companies that are working to address social or environmental challenges.
How can we overcome the tendency to delay action on impact investing?
Commit to taking small steps and learning. Explore resources like Ackuman's website and "Manifesto for a Moral Revolution." Don't let big aspirations become excuses for inaction.
Show Notes
This episode is a two-for-one, and that’s because the podcast recently hit its 10-year anniversary and passed one billion downloads. To celebrate, I’ve curated some of the best of the best—some of my favorites—from more than 700 episodes over the last decade. I could not be more excited. The episode features segments from episode #124 "Jamie Foxx on Workout Routines, Success Habits, and Untold Hollywood Stories" and #514 "Jacqueline Novogratz on Building Acumen, How to (Actually) Change the World, Speaking Your Truth, and the Incredible Power of 'Dumb' Questions."
Please enjoy!
Sponsors:
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The League curated dating app for busy, high-performing people: https://click.theleague.com/qmhm/timferriss; available on iOS and Android
Timestamps:
[00:00 ] Start
[06:50 ] Notes about this supercombo format.
[07:53 ] Enter Jamie Foxx.
[08:19 ] When Jamie met Kanye West.
[10:58 ] Why Jamie considers his studio magical.
[13:32 ] When Jamie met Ed Sheeran.
[15:00 ] What's on the other side of fear?
[16:53 ] Making impressions.
[22:15 ] How Eric Marlon Bishop became Jamie Foxx.
[24:49 ] Overcoming fear at open mics.
[26:12 ] Could Prince or Michael Jackson find a career break in today’s "Age of Memes?"
[27:49 ] How Jamie learned to read the room.
[33:27 ] Why do some comedians lose the ability to make people laugh?
[39:04 ] Enter Jacqueline Novogratz.
[39:37 ] Jacqueline's background and siblings' accomplishments.
[42:06 ] Jacqueline's journey into social impact investing.
[45:15 ] An early banking career and reputation for asking tough questions.
[48:36 ] A tendency to champion underdogs.
[53:18 ] From banker to disruptor.
[1:00:04 ] Jacqueline's first opportunity in her new path.
[1:05:28 ] Failures, small wins, and perseverance.
[1:09:21 ] Jacqueline's first real win in Rwanda.
[1:13:37 ] The path between Rwanda and founding Acumen.
[1:16:06 ] Jacqueline's reasons for applying to Stanford Business School.
[1:18:10 ] How the Rwanda genocide redefined poverty for Jacqueline.
[1:20:42 ] Lessons Jacqueline learned about human nature from the genocide.
[1:26:25 ] Acumen's three main functions and naming process.
[1:29:12 ] The quantification of impact investment through Lean Data.
[1:37:28 ] Alternative names for Acumen that got left on the cutting room floor.
[1:40:43 ] The concept of moral imagination.
[1:44:55 ] An early win at Acumen.
[1:50:43 ] Advice for young people aspiring to create positive change.
[1:53:20 ] The benefits of committing to something larger than oneself.
[1:56:10 ] Characteristics of a good mentor.
[1:59:36 ] Book recommendations.
[2:02:48 ] Advice for impact investors at various levels.
[2:09:20 ] Next steps for investors to start making a difference.
[2:14:00 ] Jacqueline's authenticity.
[2:17:07 ] A taste of potential topics for a future round two.
[2:20:55 ] Parting thoughts.
*
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Past guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, <a href="https://tim.blog/2016/05/29/marc-andreessen/" rel="noopener noreferrer"
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