Non-Profit On Purpose | Bullish

This week we’re talking about non-profits.
And no, I don’t mean Box. The word non-profit has two meanings in Silicon Valley. Companies
that don’t profit and companies that are simply uninterested in amassing cash like
Apple. Is it controversial in SV to not profit? Well, yes and no Non-profit foundations and
tech shops are not unknown. But when Y Combinator, a well-known incubator and accelerator funded
its first non profit, it was a new concept. People were confused: Why would a for-profit
entity invest in something designed not to? Well, as it turns out, and I had forgotten
this living in SF, but there is actually, a bit more to living than money. But when
it comes to money, we have an interesting mix. Some groups that are working to reinvent
money, don’t want to make any. Confused? Don’t worry. To explain why that just might
make sense, we have Joyce Kim, right here in the studio. Serial entrepreneur and former
VC, Joyce Kim is the executive director of Stellar, a non-profit organization that, in
its own words, provides a “decentralized protocol for sending and receiving money.” Similar in some ways to bitcoin, Stellar wants
anyone to be able to transfer money anywhere, in whatever currency they find the easiest.
It’s a big goal in an increasingly connected world. Please welcome to the show, Joyce Kim.

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