In 2008, Randy Ching and I co-founded Peer News Inc. with the goal of empowering citizens and encouraging greater civic participation through media. We believe that a strong democracy requires an engaged society supported by effective news reporting and analysis. And, we believe that this can be done in a profitable, sustainable way.

Written by Pierre Omidyar
November 18, 2009 at 7:45 am

Omidyar’s $30 million investment is a step in between. These will be investments, loans and sometimes grants for entrepreneurs looking to build high-growth, high-impact ventures that can have an out-sized affect on the poverty stricken region where some 10 million people live on $2 or $3 a day.

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The reality is the world’s economic growth is no longer happening in the U.S.. It’s happening in India, China, Africa, Russia, Indonesia, Brazil and a host of other smaller countries. There is innovation and entrepreneurship already there. Billion dollar companies will be formed. The question is, does America and the Valley want to play a role in that?