I think all philanthropy invests in product innovation, whether in a vaccine or a new kind of product of one sort or another, and I think we'll all continue to do that.
This was the invention of modern American philanthropy as we know it. The idea of systematizing giving to achieve human progress was the true innovation of John D. Rockefeller, and ultimately the Rockefeller Foundation's legacy.
A social impact bond is a new way of bringing financing into social and environmental support issues.
The extraordinary genius of John D. Rockefeller and Andrew Carnegie 100 years ago was their recognition that the great wealth they had amassed could be put to public good and used to solve the complex problems for which there were no other sources of capital.
There's a lot of work being done through the innovation arm of the World Bank, at the World Bank Institute. There's a lot of work that we at the Rockefeller Foundation are doing and funding towards that end, and increasingly, the U.S. government is getting engaged.
I have been honored and privileged to have led The Rockefeller Foundation for the last seven years, and I am excited to be leading the Foundation as we enter our centennial year.
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