Place your bets
After years of muddled democratization efforts in Iraq and Afghanistan, the American political class needed a new way to talk about sharing the virtues of representative government abroad. So we set out to concoct one, seeking inspiration in the logic model of venture capitalism.
VCs, we observed, place small, well-timed bets to realize big returns. Working with democracy advocates at the U.S. State Department and the Carnegie Endowment for International Peace, we identified several key ways in which a new model for democratization could borrow ideas from Silicon Valley.
Andrew Benedict-Nelson laid out the key traits that both democratization and venture investing require in a piece for GOOD Magazine: investing in many different projects with a very long time horizon; investing in ways that help make sense of failure, particularly by recouping non-traditional returns like relationships and knowledge; and investing in ways that advance the state of the art, incorporating those advances into future efforts.
We further concluded that the proper place for those investments was civil society. Within a week, the idea was being considered at the White House as a way to guide future U.S. efforts.