Lauren Powell Jobs: Venture Capitalist And Philanthropist

Laurene Powell Jobs is an entrepreneur, philanthropist, and businesswoman. She is the widow of Steve Jobs, the co-founder and former CEO of Apple Inc. Powell Jobs is the founder and president of Emerson Collective, a company that combines venture capital investing and philanthropic grant-making to accelerate solutions to complex challenges in various sectors. She has also made investments in media outlets and nonprofit newsrooms, sports franchises, and other business and nonprofit ventures. Given her involvement in various venture investments, it is clear that Powell Jobs has a diverse portfolio and is actively involved in supporting and growing a range of organizations and causes.

Emerson Collective, a company combining venture capital investing and philanthropy

Emerson Collective, founded by businesswoman and philanthropist Laurene Powell Jobs, is a company that combines venture capital investing and philanthropy. Established in 2011, Emerson Collective works across a range of sectors, including education, economic mobility, immigration, social justice, media, journalism, and the environment. The company aims to support entrepreneurs and innovators who are tackling complex challenges and creating positive change for future generations.

Emerson Collective's approach to venture capital investing involves partnering with companies that deliver both significant financial returns and societal impact. They focus on areas such as climate, healthcare, fintech, edtech, work, and media, seeking market opportunities that align with meaningful impact levers. The company's portfolio includes investments in various industries, such as renewable energy, industrial software, and artificial intelligence.

In addition to its venture capital activities, Emerson Collective also has a strong philanthropic arm. The company provides grants, partnerships, and investments to social entrepreneurs and organizations working in education, immigration reform, media, journalism, and conservation. Emerson Collective is known for its support of high-quality journalism and storytelling, which it believes are crucial to a healthy democracy. They have invested in media outlets like The Atlantic, Axios, ProPublica, and the Committee to Protect Journalists.

Powell Jobs, through Emerson Collective, has committed to addressing climate change and environmental justice. In 2021, she launched the Waverley Street Foundation, pledging to donate $3 billion over a decade to organizations working on innovative solutions for climate change and environmental justice. Emerson Collective also partners with nonprofits to create a more equitable future, particularly for immigrant communities, recognizing their contributions to America's economic and cultural landscape.

Emerson Collective's unique model combines venture capital investing with philanthropic grant-making, allowing them to accelerate solutions to societal challenges. The company's work in education includes initiatives like College Track and the XQ Institute, which aim to improve access to education and prepare students for high-demand, high-wage jobs. Emerson Collective's approach to combining investment and philanthropy has made it a prominent force in driving social change and creating a positive impact on future generations.

Waverley Street Foundation, a spend-down fund for climate solutions

Laurene Powell Jobs, an American billionaire businesswoman, philanthropist, and widow of Steve Jobs, established the Waverley Street Foundation in 2021. The foundation is a spend-down fund focused on advancing climate solutions that arise from and address the needs of communities on the front lines of climate change.

The Waverley Street Foundation is committed to distributing $3 billion in grants to organizations working at the intersection of climate change, conservation, and racial and indigenous justice by 2035. This approach to grant-making is community-driven, focusing on scalable, local solutions that promote resilience and sustainability. The foundation works with community leaders to identify where communities need more capacity and what specific interventions can enable positive change.

Waverley Street Foundation's grant-making primarily focuses on two key areas: renewable energy and regenerative agriculture. By investing in community-centered projects worldwide, the foundation aims to drive significant, positive change and maximize its impact in a short period. These sectors are foundational to many communities' economies and livelihoods, and improvements can lead to widespread benefits.

The foundation's grant-making is decidedly intersectional, supporting organizations and initiatives in overlapping areas, including environmental conservation, community development, sustainable agriculture, public health, racial justice, and indigenous rights. Most of the grants are provided to organizations based in the United States, with a near-term focus on creating momentum in California. However, the foundation also works in other countries, particularly India and Latin America.

The Waverley Street Foundation's grants typically range from $1 million to $10 million, with most falling between $1 million and $2 million. These grants represent multi-year commitments to its grantee partners, fostering long-term relationships and impact.

College Track, a programme helping students facing systemic barriers

College Track is a programme co-founded by Laurene Powell Jobs and Carlos Watson in 1997. It is a non-profit organisation that helps students from underserved communities to improve their high school graduation, college enrolment and college graduation rates. The programme removes academic, financial and social-emotional barriers that keep first-generation students from low-income communities from completing college and thriving in the workforce.

College Track's 10-year programme supports students from ninth grade through college graduation. It serves 3,800 students across 12 communities in California, Colorado, Louisiana, and the D.C. Metro Area, with more than 1,300 alumni. In Sacramento alone, 390 students and 20 alumni are part of the programme, where students are graduating with bachelor's degrees at more than 2.5 times the rate of their peers from underserved households.

The programme addresses the unequal playing field in college access and graduation rates. For example, US Census data reveals deep racial disparities in educational outcomes in Sacramento: 43% of White residents hold bachelor's degrees, compared to just 25% of Black residents and 20% of Latinx residents.

College Track has facilities in East Palo Alto, Sacramento, San Francisco, Oakland, Watts, Boyle Heights, New Orleans, Aurora, Colorado, Denver, and the Washington, D.C., area. The programme has a waitlist of five cities where it plans to open new centres, but it is reluctant to grow through franchising or curriculum dissemination.

Powell Jobs is committed to education and is also the co-founder of The XQ Institute, an organisation working to ensure high schools are preparing students for high-demand, high-wage jobs. She serves as board chair of both College Track and The XQ Institute.

The XQ Institute, an organisation ensuring high schools prepare students for high-wage jobs

The XQ Institute is a non-profit organisation based in Oakland, California, co-founded by Laurene Powell Jobs and Russlynn Ali in 2015. The organisation's mission is to ensure that high schools are preparing students for high-wage, high-demand jobs.

The XQ Institute began with the XQ: The Super School Project, which aimed to identify new ideas to reform schools and improve student performance. The project was funded by Emerson Collective, an advocacy organisation created by Powell Jobs to fund philanthropic projects. The launch of the XQ Institute was accompanied by a $50 million competition to redesign American public high schools, with funds awarded to build five new schools.

Since its founding, the XQ Institute has worked closely with school communities to build innovative and successful high schools. They provide flexible frameworks, tools, and resources that can be customised to meet the unique needs of each school. The XQ Institute believes that the current high school model is obsolete and needs to be changed to better prepare students for the rapidly changing economy, workforce, and environment.

The XQ Institute has initiated various projects and partnerships to achieve its goals. They launched a travelling interactive display in a school bus, allowing students to share suggestions for improving high schools. The institute has also partnered with other organisations, such as the Robin Hood Foundation, to donate millions of dollars towards opening new and restructured public schools. Additionally, the XQ Yearbook, a digital platform, was created to allow students, teachers, and others to share their ideas and experiences.

The XQ Institute's work has been featured in a documentary called "The First Class," which showcases the transformation of Crosstown High in Memphis, Tennessee. The film highlights the power of community members, educators, and students to redefine what's possible in education and create a more engaging and diverse learning environment.

The Atlantic, a media outlet in which Powell Jobs is the lead investor

Laurene Powell Jobs is an entrepreneur, philanthropist, and investor. She is the widow of Steve Jobs, the co-founder and former CEO of Apple Inc. Powell Jobs is the founder and president of Emerson Collective, a company that combines venture capital investing and philanthropic grant-making to accelerate solutions to complex challenges in education, economic mobility, immigration, and the environment.

In 2017, Powell Jobs purchased a majority stake in The Atlantic, a renowned media outlet and magazine. The acquisition solidified her position as the lead investor and board chair of The Atlantic. The deal saw Emerson Collective, Powell Jobs' organization, acquire a majority stake in The Atlantic from David G. Bradley, the previous chairman and owner of Atlantic Media. Bradley retained a minority stake and continued as chairman and operating partner for at least three to five years, with the expectation that Emerson Collective would assume full ownership within that timeframe.

The Atlantic, founded before the Civil War, is a respected magazine known for its coverage of politics, arts, and letters. Under Bradley's stewardship, it transformed into a profitable digital journalism and live-events company with a global reach while maintaining its award-winning print magazine. Powell Jobs' investment in The Atlantic signaled her entry into the legacy journalism market and her interest in supporting media and journalism.

Since Powell Jobs' involvement with The Atlantic, the publication has undergone significant changes. There has been an influx of resources, with the addition of more than 100 employees, including notable journalists, a launch of a paywall, and a redesign. The Atlantic has also experienced a boost in readership, with a growing website audience and an increase in print circulation, outperforming the industry average. However, the rapid expansion has also led to financial challenges, with the magazine reporting losses despite previous profitability.

As the lead investor and board chair, Powell Jobs has influenced The Atlantic's direction and strategy. While she is not involved in day-to-day operations, her presence and resources have shaped the publication's trajectory. Powell Jobs' investment in The Atlantic demonstrates her commitment to supporting media outlets and her interest in journalism, reflecting her broader philanthropic and investment goals.

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