Our guest on this episode is Patrick Stadler. Patrick is the definition of a social and charity entrepreneur. Currently, Patrick is the co-founder and the board chair of the Give-Well-incubated charity New Incentives. New Incentives is a nonprofit dedicated to conditional cash transfers. Conditional cash transfers or CCTs are small amounts of money that is given to those in need if they meet certain benchmarks related to education and health. In addition, Patrick mentors startups incubated by Charity Entrepreneurship, as well as develops the curriculum and content of their upcoming incubation program and publishes articles on starting organizations from scratch. On the side, Patrick is also working on a Swiss platform called MindfulMoney.ch, which offers free advice on how to invest responsibly. This is really a great resource for regular people in Switzerland who want to invest their money responsibly into impact related investments. Before all this, he was a political advisor for Switzerland’s economic development agency where he participated in the negotiations on the UN’s Sustainable Development Goals. He also worked on strategic communications in the context of peacebuilding and mediation at the United Nations Department of Political Affairs in New York.
Patrick was not always a risk-taker and still found himself working as a charity entrepreneur. He shares how he is actually an extremely risk-averse individual:
“I'm quite risk averse personally, so I slowly got into this like a frog in boiling water...If you think about it...the risks are not that high….financial risk, you can get another job if your charity fails, you have your safety network through friends and family, you have your safety network if you're living in Switzerland by the state. There's various options that you have so you can take some justified risks. Basically you overrate it psychologically, but the actual risk is much lower.”
In This Episode
Patrick introduces himself [2:11]Patrick’s responsibilities in his previous role at the UN [3:01]Takeaways from work experience at the UN [3:40]What inspired New Incentives [5:30]Microloans and their effectiveness [6:05]High potential in Conditional cash transfers [6:30]How New Incentives started [7:19]How Nigeria was chosen as the location for New Incentives [8:53]Type of Vaccinations New Incentives provides [10:05]The average number of children per woman in Nigeria [10:48]Evidence based development - Measuring the impact in Nigeria [10:57]Experience at Y combinator [12:20]Cultural difference in the US vs Switzerland [14:48]Patrick’s current projects / Charity Entrepreneurship [15:32]How to apply to Charity Entrepreneurship Accelerator [16:10]What is means to be a charity entrepreneur - Impact and Meaning [16:40]Making the biggest difference possible - Effective Altruism [17:35]Effective charities - Givewell.org [18:30]Picking a cause as a social entrepreneur [19:30]Convincing people to care about these problems[20:20]Another impact idea Patrick would work on [22:20]How to get into careers in the impact space [23:20]Valuable resources that Patrick recommends [24:00]Patrick’s decisions leading to a career in development [24:50]What Patrick studied and the impact on his career [25:30]Advantages of coming from a different field [26:40]Advantages to working in social or charity entrepreneurship [27:50]Learning how to manage people and being careful with hiring [29:00]Funding from Gates Foundation and support from GiveWell [30:49]Experiences living in Nigeria and recommendations for people who would like to move abroad [31:40]Trends in social entrepreneurship today [34:25]Memorable experiences in Patrick’s Career [35:23]What Patrick wishes he knew starting out [37:40]Patrick says we overestimate the risk of doing a start-up - Safety networks in Switzerland [38:12]Mindfulmoney.ch platform in Switzerland [40:00]Patrick’s Favorite Charities / Givewell.org [41:45]Feeling overwhelmed and dealing with that feeling [42:42]Donating Money for the most Impact [43:39]Where to reach Patrick on Twitter [46:30]Mindfulmoney.chYcombinator.comGivewell.orgPeter SingerThe Life You Can Save, How to Do Your Part to End World PovertyPractical Ethics by Peter Singer80,000 Hours80,000 Hours PodcastEffective AltruismPoor EconomicsTamTamYovawww.impactuntangled.comwww.impactcareers.ch@patstadler on Twitter