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In a rare interview, entrepreneur Laurene Powell Jobs revealed how her Emerson Collective has built on the philanthropic plans she and the late Steve Jobs created.
Laurene Powell . Jobs recently launched the Steve Jobs archive, next to Tim cooks and Jony Ive, as a living tribute to her late husband’s impact on the tech industry. She did it in a rare public appearance on Code22, but she’s now followed it up with what the… Wall Street Journal‘s WSJ Magazine says is only she 11th interview in 10 years.
Powell Jobs told the publication that she now wanted to speak specifically about her organization, the Emerson Collective, and address what she sees as a false impression people have of it.
“My main reason is to break through the misunderstandings and misconceptions,” she said. “There’s a sense that we’re not being transparent and… [are] mysterious… That couldn’t be further from the truth.”
Emerson Collective’s website describes the organization as bringing together “entrepreneurs and academics, artists, community leaders and more to build solutions that drive measurable, lasting change.” The organization has a very wide spread of interests, with most philanthropic ventures concentrating on specific niches.
The size of the investments it makes, plus Powell Jobs made a conscious decision to create a limited liability company rather than a typical charitable foundation. This legal status means fewer restrictions and less paperwork, which has given the organization the freedom to practically invest and support as it sees fit.
“We can find the most attractive uses for the dollar without any restrictions,” says Powell Jobs. “Money is the fuel for our work. I really don’t want it to be used as leverage. I don’t want it to be used as power.
“Sometimes there is an unhealthy dynamic between the donors and the people who receive the donation,” she continues. “Having money as a tool to try and manifest goodness is a gift. I take it very, very seriously.”
Her Emerson Collective is a blend of philanthropy and for-profit investment, used explicitly to support ideas that make a real difference to people.
Laurene Powell Jobs (second from right) at Code22 with Kara Swisher, Jony Ive and Tim Cook
“I am convinced that the way we work can be useful to other people looking for a job in the social sector,” said Powell Jobs. Wall Street Journal. “Integrating venture investing or private equity or any kind of for-profit investing and then advocacy, artists, activists, and philanthropy – everything – can be done in a much more comprehensive way.”
The Emerson Collective’s work ranges from owning to The Atlantic Magazineto support Chicago CRED, an anti-gun initiative in the city.
Chicago CRED was co-founded by Arne Duncan, formerly Secretary of Education under President Obama, and he told the publication how Powell Jobs had agreed to fund his work.
“I’ll never forget what she said,” Duncan says. “‘I want to tackle some of society’s most intractable problems over the next 25 to 30 years.'”
The Legacy of Steve Jobs
The organization that became the Emerson Collective sprang from the plans of both Powell Jobs and Steve Jobs.
“We discussed that I would try to do my very best based on the life and love we had and our shared values,” she says. “Growing wealth is not interesting to me. What I find interesting is working with people and listening to them and solving problems.”
“I also felt like, given my life experiences, I was in a place where I was old enough that I knew I wouldn’t change — I wouldn’t get corrupted,” continued Powell Jobs. “I knew I could do it… and I knew I would and honor” [Steve] and I.”
Tim Cook is not involved with the Emerson Collective, but told… WSJ Magazine. that he cares what Laurene Powell Jobs does with that company.
“Most people in the nonprofit sector are more or less sticking to their jobs, recognizing that all of these things are so interconnected,” Cook says. “Her goals, her ambition, the audacity – being an entrepreneur, which is so important in the Valley, and also doing great work that changes the world…I believe it will make a very big difference.”
Separately is a video of the full Code22 conference panel with Powell Jobs, Cook and Ive: now available.