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Social value is best understood in narrative form. Financial value is best understood in numerical form. Both are valid ways of encapsulating fungible value.
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Stock exchanges(NYSE)
Retail markets(Consumer Reports)
Investors
$
Dividends ($)
Products
$
EnterprisesCustomers
Investing
Foundations(?)
Community centers(?)
Donors /Volunteers
$ + effort
Stories / metrics
Services
Stories
NGOsBeneficiaries
Philanthropy
Good Capital markets(XIGI)
Community exchanges(UnaMesa)
Investors /Volunteers
$
Dividends ($) + stories
Products & services
$ + Stories
Social EnterprisesCommunities
Social Investing
This analogy helps frame the discussion, not intended to limit the discussion• $ represents the currency for financial transactions (buying shares, buying products, paying
dividends)– Measure by products sold and market share (ratio of # sold to total sold)
• Stories represent the currency for social interactions (sharing experiences, achieving common goals)
– Measure by positive stories told and ratio of positive experiences within community • Returns should be evaluated relative to investor expectations
– “Good” means that a return meets or exceeds expectations• Institutions (in gray) structure the exchanges
– Aggregate across individual transactions/interactions to provide dynamic feedback for participants
Notes
Quantifying the narrative
• Social value is best codified and transmitted in stories
• Financial value is best displayed in spreadsheets
Two views, but holistic value
• Both kinds of value are real, and they should be measured in the way that best displays their value.
How you quantify the narrative
• That’s something the StoryIndex project is about, figuring out how to encapsulate and measure narrative value along with numerical value
investment | philanthropy > social investing
social investing 2.0
Not making the heart hide behind a
spreadsheet but coming out front to
display narrative value
CommercialDebt
Grants
Infr
as
tru
ctu
re
Capital
SocialAngels
SocialVC
“PRI”Debt
PublicMarket SRI
LandscapeDefinition
Evaluation/Certification
Transactional(e.g. Funds)
ExchangePlatform
AA1000
GRI
RSF Social Finance
NFF Capital
Partners
Investors’Circle
Aspen Institute
Domini SocialInvestments
Underdog
Chicago ClimateExchange
SouthShore Bank
Calvert Special Equities - CF CI Notes - Calvert Mutual Funds
New Schools
BOVESPASocial
Stock Exchange
Origo
NFFLendingAcumen Fund Generation
Investments
GenerationFoundation
Ashoka
Deutsche Eye Fund
© Jay Coen Gilbert, Don Shaffer and John Katovich
The infrastructure for the Social Capital Market is emerging
CommercialDebt
Grants
Infr
as
tru
ctu
re
Capital
SocialAngels
SocialVC
“PRI”Debt
PublicMarket SRI
LandscapeDefinition
Evaluation/Certification
Transactional(e.g. Funds)
ExchangePlatform
CalvertPhilanthropicAssets/DAF
AA1000
GRI
RSF Social Finance
Local Exchange
NFF Capital
Partners
Investors’Circle
Aspen Institute
Domini SocialInvestments
Underdog
Chicago ClimateExchange
B Lab
Good Capital
SouthShore Bank
Calvert Special Equities - CF CI Notes - Calvert Mutual Funds
New Schools
Xigi.net
BOVESPASocial
Stock Exchange
UK SocialStock Exchange
Fourth Sector Network
Origo
NFFLendingAcumen Fund
Patient CapitalCollaborative Generation
Investments
GenerationFoundation
Ashoka
Deutsche Eye Fund
© Jay Coen Gilbert, Don Shaffer and John Katovich
More intermediaries a sign of new money in the Blended Value Market
Our focus:Mapping these nascent exchanges, composing
a glossary and
translation table of how
they define value in
other than monetary terms;
a Rosetta Stone of story value
