Today, National Geographic has a membership side with a magazine and some television side, and they generate about a billion dollars in revenue, and they're profitable. And so at the end of the year they have some bottom line profit which they can then reinvest, because they're running it as a not-for-profit in charitable endeavors.
Steve CaseWe lose money on signing up the customers where there's some marketing costs associated with giving them a free month. It doesn't much matter whether you make a little bit or lose a little bit.. as you well know, because you lose a ton on every copy of The Washington Post (newspaper).
Steve CaseWe need that same mentality in philanthropy, trying things, taking risks, recognizing the first try, maybe the second try, maybe the third try won't work. But if you stay at it and you're learning, you're talking to others, and you're learning together, eventually you'll break through and see the kind of impact you were hoping for.
Steve CaseIf you really got the right people, and you've got them working together as a team, whether it's in business, whether it's in science, whether it's in politics, you can make a big difference.
Steve CaseYou can be entrepreneurial even if you donโt want to be in business. You can be a social entrepreneur focused on the not-for-profit sector. You can be an agriculture entrepreneur if you want to change how people think about farming. You can be a policy entrepreneur if you want to go into government. The idea of an entrepreneur is really thinking out of the box and taking risks and stepping up to major challenges.
Steve CaseThe resources you happen to accumulate, what do you do with them? You can spend the money and buy some houses or whatever, and people do some of that and that's fine. You can give the money to other people, your family, but usually when you do that you screw them up and it ends up counterproductive. Or, you take those resources and reinvest them in things that you believe in, and that could be reinvesting in a philanthropic cause.
Steve Case