• 15:21 - 16:55
Alison McDowell | Human Capital Markets, Predatory Philanthropy, & The Gamified World
Social Impact Bonds, Sir Ronald Cohen and Rikers Island
Sir Ronald Cohen developed social impact bonds in the UK, a model Michael Bloomberg later brought to the United States. The first US pilot occurred at Rikers Island, backed by Goldman Sachs, focusing on prison anti-recidivism. These deals are predicated on "cost offsets," where private investors profit from perceived government savings in social services.