World-Changing Business: Billionaires, Tech Disruptors, and Social Entrepreneurs Transforming Global Aid

The Business of Changing the World: A New Era of Results-Driven Aid to End Extreme Poverty

Drawing on two decades of experience covering global development as the editor-in-chief of Devex, Raj Kumar explores the transformative power of nontraditional models of philanthropy and aid that are empowering the world's poorest people to make progress. The old aid paradigm, driven by good intentions and reliant on large-scale projects from a few government aid agencies like the World Bank and USAID, is being disrupted by a new generation of players - corporations, Silicon Valley startups, and billionaire philanthropists - who are pushing global aid to become more data-driven and results-oriented.

This $200 billion industry is being shaped by both emerging and established foundations, such as the Chan Zuckerberg Initiative and the Bill and Melinda Gates Foundation, as well as entrepreneurial startups like Hello Tractor, which offers a ride-hailing app for farmers in Nigeria, and GiveDirectly, whose app allows individuals to send money directly to the phones of those in need. These innovative approaches are giving rise to a more sustainable philosophy of aid that elevates the voices of the world's poor as neighbors, partners, and customers, rather than passive recipients.

Refreshingly written and accessibly presented, The Business of Changing the World sets forth a bold vision for how we can use our vote, our voice, and our wallet to transform well-intentioned charity into effective advocacy, driving real change in the world. This transformative shift will influence businesspeople, policymakers, entrepreneurs, nonprofit executives, philanthropists, and aid workers around the globe, as they work together to tackle the challenge of extreme poverty.

The book's central argument is that the traditional aid model, with its focus on large-scale projects and top-down approaches, has failed to achieve the desired impact. In its place, a new era of results-driven aid is emerging, one that leverages the power of technology, data, and market-based solutions to empower the world's poorest people and communities. By putting the voices and agency of the poor at the center of the aid ecosystem, this new paradigm promises to deliver more sustainable and scalable solutions to some of the world's most pressing development challenges.

Throughout the book, Kumar provides compelling examples and case studies that illustrate the potential of this transformative approach. From the use of mobile money to deliver cash transfers directly to those in need, to the rise of social enterprises that are creating economic opportunities for the poor, the stories highlighted in The Business of Changing the World demonstrate the power of innovation, collaboration, and a relentless focus on outcomes.

Ultimately, the book serves as a rallying cry for a new generation of change-makers, who are harnessing the tools and resources of the private sector to complement and enhance the work of traditional aid organizations. By embracing a more collaborative, evidence-based, and customer-centric approach to development, these innovators are poised to make significant progress in the fight against extreme poverty and create a more equitable and prosperous world for all.

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