We're looking at building on some of the most precious resources of Africa people.

Where do you want to go first for foreign investment?

And because there's so much demand out there, anyone can get a loan, frankly, the person who's going to be able to give the highest bid on the house, is a person, to some degree, who's most reckless or most prudent.

(Laughter)

In addition to the lecture recording we're also going to have some textbook chapters and documentation of software resources.

And why is that?

(Laughter) Here's some advice from one of the largest investors in the United States.

Well their intention was to take these home equity loans and put that money to work, invest it in some way.

And business investment in gear in equipment and hardware and software is at an all time high.

They are a claim to you missing resources, and they may be accurate.

These are my assets, and these are my liabilities.

And most of Africa's farmers are, by and large, small farmers in terms of land that they operate, and very, very small farmers in terms of the capital they have at their disposal.

The entire aid flows to the 60 countries of the bottom billion last year were 34 billion.

So it sounds like I'm painting a really bleak picture of this place, but I promise there is good news.

In a situation where you have growth, you put the new money into this.

And then I got my commercial pilot's license.

And this is another important thing to think about.

And the corollary of more people willing to lend, is you that the actual standards go down.

He's my doctor. He's my lawyer.

So one way to think of it is Loan C gets first dibs on the assets.

And that seems like a pretty reasonable proposition.

The GAVI and the Gates Foundations are each pledging a lot of money towards it, and developing countries themselves have been doing a lot of effort.

Liquid metal battery is designed to reduce cost by producing fewer, but they'll be larger.

The government has invested in basic education, has invested in basic health.

So right now in this world, my assets are what?

I'll draw it a little bit bigger.

There's a problem here though. The rating agencies, the ones that in theory should be independent, they've only given a company A a BB rating. This is a pension fund.

Workers are warranting at credit cooperatives and at solidarity funds.

Maybe this is a ton of people who are now going to put in a 100,000.

They invest in professional development and collaboration and many other things.

So this is just another visual representation that

At the time they were mostly losing money.

My liabilities would be 145,000.

They're telling me that this is AAA, which means the highest level of debt.

They're doing it because they are expecting things to happen.

So you'd have 20 million left.

It could be patents, it could be licenses.

like any corporation, and they have to, the liabilities, plus the equity has to match up to the assets.

And they say, well what's a better investment than doing home improvements?

So I'm going to give you a little equation, actually, just to take a little bit of a tangent.

If you were going to go and try to create SpaceShipOne, or any kind of a new technology, you have to fund that from the beginning and maintain that funding with an uncertain outcome.

Obviously , a machine you can't do all of those things to it, but you can at least touch it and possibly smell and taste it.

Manage your personal finances

Seung Jo!

These funds are to philanthropy what venture capital, private equity, and eventually mutual funds are to investing, but with a twist because often a community forms around these funds, as it has at Acumen and other places.