premature to suggest that the guidelines would apply uniformly as they stand to all staff.
prematurely in infancy, or in childbirth, or whatever.
Premature babies, known as preemies.
Premature or undesired decoherence sets a limit on how powerful cubes can become.
Premal Shah: Sure, sure.
Premal Shah: Yeah, yeah.
Premal Shah: Exactly. It was completely Gary Briggs: I was, like, on the same chart at one point.
Premal Shah: The only validating thing about being a management consultant is you can create killer charts like this, I feel like.
Premal Shah: But, you know, I donít wanna bag on it too much but it wasnít for me.
Premal Shah: Yeah, the leading name that we had was grassroots capital dot org Premal Shah: And I loved it cause it describes
Premal Shah: Yes. Exactly, exactly.
Premal Shah: Yeah, so I remember I left PayPal and Matt Flannery, the co-founder of Kiva, left his job at TiVo, he was in computer programming and he jokes about heís pausing
Premal Shah: And even they hadnít used it.
Premal Shah: Yeah, exactly, exactly.
Premal Shah: And it hits on the East Coast and all the sudden the traffic goes down to 0 and what happens is our site crashed
Premal Shah: Cause we were on this 22 dollar a month server plan, you know?
Premal Shah: And it was so painful for the next 4 days our site couldnít get back up.
Premal Shah: Yeah, we raised 130,000 dollars from the internet community Premal Shah: And thatís what allowed us to get everyone on healthcare, actually do real due diligence on these organizations
Premal Shah: around the planet and get off the 22 dollar a month server plan Premal Shah: So that was that moment in time that then, from that point, you know,
Premal Shah: I was in a penguin costume and Gary Briggs: A penguin costume?
Premal Shah: Sure, just by show of hands how many of you folks have made a loan on Kiva?
Premal Shah: How many of you actually have money sitting in your Kiva accounts that you have to respend or relend to someone?
Premal Shah: Sure, so Kiva today has reached 800,000 small businesses, entrepreneurs, students in 62 countries, um, the total amount that has flowed through the website is about 320
Premal Shah: Yeah, itís more women than men and thereís a 98.9 repayment rate on the website.
Premal Shah: Yeah, yeah itís, we did a graph between, I think, the S and P 500 over the last 5 years and kind of did a Kiva portfolio and the working poor are outperforming.
Premal Shah: Some other classes, yeah.
Premal Shah: Yeah, so just to, just to show a few features on the website.
Premal Shah: So itís really amazing.
Premal Shah: Yeah we only have 58 members of the Google team here.
Premal Shah: But you guys are, yeah, I mean, itís 40,000 dollars lent.
Premal Shah: Yeah, you know, thereís so many amazing stories throughout the year and, I mean, I just love reading through the site every day.
Premal Shah: So, itís amazing and youíre literally right there doubling the farmerís dairy income, right?
Premal Shah: More fuel efficient Premal Shah: So basically itís mixed with a European strain that is just a higher producing cow in terms of milk.
Premal Shah: Yeah, resilient.
Premal Shah: The fumes from kerosene kill more people every year in the developing world than malaria.
Premal Shah: Exactly. So if you can get patient capital to finance basically a technology like a solar power cooker or being able to create a main line to the direct water source, your avoided cost
Premal Shah: Well, I think, um, the two biggest challenges, one is, you know, for anyone thatís read about microfinance in the last couple years, itís not perfect.
Premal Shah: What we see if women fund two times faster than men on the website.
Premal Shah: Yeah, you know, one thing weíve done that was pretty interesting is Reid Hoffman, who is the founder of LinkedIn and heís made a lot of money recently and
Premal Shah: And we both worked with him at PayPal and Gary Briggs: I see him on TV all the time now
Premal Shah: Yeah, heís on Bloomberg, heís got his own thing, yeah.
Premal Shah: Yeah, I think the coolest thing in terms of financial services for the poor; the big game changer is mobile finance.
Premal Shah: And everyone talks about the Silicon Valley and whatís happening out here but I wonder why Kenya is so far ahead in
Premal Shah: Well, you know, itís a game changer.
Premal Shah: Sure. Well, just your existence is awesome and I wanna honor that, honestly.
Premal Shah: No, I mean I say this from a place of, we were counting up, the other day, the number of services we use from Google and, you know, uh, you know, from Google Apps
Premal Shah: Yeah. Gary Briggs: Thatís a really great idea.
Premal Shah: Thatís where the local field partner eats the loss and thatís the risk.
Premal Shah: Yeah. So what we do is we have an all or nothing model which is once it hits its fundraising
Premal Shah: Exactly. And today that happens probably, itís the minority case but itís happening at an increasing rate.