Today’s Question: What do Social Impact Bonds mean for Makerspace Development?
The short answer is that it depends on how you define “social impact bonds.”
For the record: this podcast doesn’t represent investment advice. That kind of advise should only be offered by certified investment advisers and lawyers.
According to Wikipedia: A Social Impact Bond is a contract with the public sector in which a commitment is made to pay for improved social outcomes that result in public sector savings.
If you define social impact bonds this way then social impact bonds will mean very little for makerspace development. By definition, makerspace development is about giving members a safe place to try new things, a safe place to learn, a safe place to fail with only minor consequences.
A better model for Social Impact Bonds would that of the War Bonds that were issued during World War II. Social Impact Bonds could be issued to win a war for economic sustainability. The most direct manifestation of which would be makerspace development.