Image by brettwayn via FlickrNew York Times: Sun Co-Founder Uses Capitalism to Help Poor: commercial entities can better help people in poverty than most nonprofit charitable organizations .... an increasingly popular school of thought: businesses, not governments or nonprofit groups, should lead the effort to eradicate global poverty..... Rich Indians “are more into temple building and things like that” ..... moneymaking versions had grown much faster and reached many more needy borrowers. ..... He said he wanted to help create a new generation of companies like SKS, which started lending as a commercial company in 2006. It now has 6.8 million customers and a loan portfolio of 43 billion rupees ($940 million)..... CashPor, a nonprofit Indian lender to which Mr. Khosla has also given money, has 417,000 borrowers and a portfolio of 2.7 billion rupees ($58 million) even though it started operations in 1996. ..... Besides growing faster, SKS, India’s largest microfinance company, has become a stock market darling. The company floated its shares on India’s stock exchanges in mid-August, and they have risen 40 percent since then. .... Khosla’s 6 percent stake in SKS is worth about $120 million, about 37 times what he invested in the firm in 2006 and 2007 ..... Khosla said it might take at least a year to set up his new venture fund. ..... these “social enterprises,” as they are sometimes known, cannot be solely relied upon to address the many entrenched causes of poverty. ..... “I am relatively negative on most N.G.O.’s and their effectiveness,” he said. “I am not negative on their intentions.”I have admired Larry Ellison over the years. The guy's biography reads like fascinating. Now I have found a dude who is less dramatic, but not less towering. Khosla speaks to me. He came to America as an international student
Image by ptufts via Flickr like I did. He thinks of where he came from. The idea is not to go back, but to take back, to give back, to do. His clean energy drive over the years has been about all those cars he sees crowding the roads in China and India over the next 50 years.
