Sasa Vucinic: Why a free press is the best investment

Prevodilac: Sandra Gojic Lektor: Ivana Korom

Video: Narrator: An event seen from one point of view

Snimak: Pripovedač: Događaj viđen sa jedne tačke gledišta

gives one impression.

daje jedan utisak.

Seen from another point of view, it gives quite a different impression.

Gledan sa druge tačke, daje prilično drugačiji utisak.

But it's only when you get the whole picture you can fully understand

Ali jedino kada imate čitavu sliku možete u potpunosti razumeti

what's going on.

šta se dešava.

Sasha Vucinic: It's a great clip, isn't it?

Saša Vučinić: Sjajan snimak, zar ne?

And I found that in 29 seconds, it tells more about

I otkrio sam da za 29 sekundi, govori više o

the power of, and importance of, independent media

moći i važnosti nezavisnih medija,

than I could say in an hour.

nego što bih ja rekao za čitav sat.

So I thought that it will be good to start with it.

Pa sam mislio da bi bilo dobro početi sa njim.

And also start with a little bit of statistics.

Kao i sa malo statistike.

According to relevant researchers, 83 percent of the population of this planet

Prema relevantnim istraživanjima, 83 posto populacije na ovoj planeti

lives in the societies without independent press.

živi u društvu bez nezavisnih medija.

Think about that number: 83 percent of the population on the whole planet

Razmislite o tom broju: 83 odsto čitave svetske populacije

does not really know what is going on in their countries.

ustvari ne zna šta se dešava u njihovim zemljama.

The information they get gets filtered through somebody

Informacije koje oni dobijaju filtrira neko

who either twists that information, or colors that information,

ko ili preokrene informaciju ili je oboji,

does something with it.

uradi nešto sa njom.

So they're deprived of understanding their reality.

Dakle uskraćeni su za razumevanje svoje realnosti.

That is just to understand how big and important this problem is.

To je samo da bi razumeli koliko je velik i važan ovaj problem.

Now those of you who are lucky enough to live in those societies

Oni od vas koji su dovoljno srećni da žive u onim društvima

that represent 17 percent, I think should enjoy it until it lasts.

koji spadaju u 17 posto, mislim da treba da uživaju dok traje.

You know, Sunday morning, you flick the paper, get your cappuccino.

Znate, nedelja jutro, listate novine, uzmete svoj kapućino.

Enjoy it while it lasts.

Uživajte dok traje.

Because as we heard yesterday, countries can lose stars from their flags,

Jer kako smo čuli juče, države mogu da izgube zvezde sa svojih zastava,

but they can also lose press freedom,

ali isto tako mogu da izgube slobodu štampe,

as I guess Americans among us can tell us more about.

o čemu Amerikanci među nama, pretpostavljam, mogu više da nam kažu.

But that's totally another and separate topic.

Ali to je potpuno druga tema.

So I can go back to my story.

Da se vratim mojoj priči.

My story starts -- the story I want to share -- starts in 1991.

Moja priča počinje - priča koju želim da podelim - počinje 1991.

At that time I was running B92, the only independent,

U to vreme upravaljao sam B92, jedinim nezavisnim,

for that matter the only electronic media, in the country.

i jedinim elektronskim medijem u zemlji.

And I guess we were sharing -- we had that regular life of the only

I pretpostavljam da smo delili - živeli smo tim običnim životom jedinog

independent media in the country, operating in hostile environment,

nezavisnog medija u zemlji, radeći u neprijateljskom okruženju,

where government really wants to make your life miserable.

gde vlada zaista želi da vam život učini jadnim.

And there are different ways.

I postoje različiti načini.

Yeah, it was the usual cocktail:

Da, bio je to uobičajeni kotel:

a little bit of threats, a little bit of friendly advice,

malo pretnji, malo prijateljskih saveta,

a little bit of financial police, a little bit of text control,

malo finansijske policije, malo kontorle teksta.

so you always have somebody who never leaves your office.

Tako da uvek imate nekoga ko vam nikada ne izlazi iz kancelarije.

But what they really do, which is very powerful,

Ali ono što zapravo rade, što je vrlo moćno,

and that is what governments in the late '90s started doing

a to je ono što su vlade počele da primenjuju kasnih '90.

if they don't like independent media companies --

ako im se ne dopadaju nezavisne medijske kompanije -

you know, they threaten your advertisers.

znate, oni prete vašim oglašivačima.

Once they threaten your advertisers, market forces are actually,

Jednom kada zaprete vašim oglašivačima, tržišne snage su,

you know, destroyed, and the advertisers do not want to come --

znate, uništene i oglašivači ne žele da dođu -

no matter how much does it make sense for them --

bez obzira koliko to za njih imalo smisla -

do not want to come and advertise.

oni ne žele da dođu i da se reklamiraju.

And you have a problem making ends meet.

I imate problem da sastavite kraj sa krajem.

At that time at the beginning of the '90s, we had that problem,

U to vreme, početkom '90-ih, imali smo problem,

which was, you know, survival below one side,

koji je, znate, preživaljavanje sa jedne strane,

but what was really painful for me was,

ali ono što je bilo zaista bolno za mene,

remember, the beginning of the '90s, Yugoslavia is falling apart.

setite se, početak '90-ih, Jugoslavija se raspada.

We were sitting over there with a country in a downfall,

Sedeli smo tamo sa zemljom koja je propadala,

in a slow-motion downfall.

usporeno propadala.

And we all had all of that on tapes.

I svi smo imali sve to smiljeno.

We had the ability to understand what was going on.

Imali smo mogućnost da razumemo šta se dešava.

We were actually recording history.

Mi smo ustvari beležili istoriju.

The problem was that we had to re-tape that history a week later;

Problem je bio u tome šo smo morali da presnimimo tu istoriju nedelju dana kasnije,

because if we did not, we could not afford enough tapes

jer da nismo, ne bismo mogli priuštiti dovoljno kaseta

to keep archives of that history.

da pravimo arhivu te istorije.

So if I gave you that picture, I don't want to go too long on that.

Dakle da vam dam tu sliku, ne želim da se zadržavam na tome.

In that context a gentleman came to my office at that time.

Dakle u tom kontekstu jedan gospodin dolazi u moju kancelariju.

It was still 1991.

Još uvek je 1991.

He was running a media systems organization

On je vodio sistemsku medijsku organizaciju

which is still in business, the gentleman is still in business.

koja još uvek postoji, gospodin još uvek posluje.

And what did I know at that time about media systems?

I šta sam znao u to vreme o medijskim sitemima?

I would think media systems were organizations,

Mislio sam da su medijski sistemi organizacije,

which means they should help you.

što znači da bi trebalo da ti pomognu.

So I prepared two plans for that meeting, two strategic plans:

Pa sam pripremio dva plana za sastanak, dva strateška plana.

the small one and the big one.

Mali i veliki.

The small one was, I just wanted him

Mali je bio taj da sam hteo samo da nam

to help us get those damn tapes,

on pomogne da dobijemo te proklete kasete,

so we can keep that archive for the next 50 years.

kako bismo održavali arhivu sledećih 50 godina.

The big plan was to ask him for a 1,000,000-dollar loan.

Veliki plan je podrazumevao da ga pitam za pozajmicu od milion dolara.

Because I thought, I still maintain,

Jer sam i dalje tvrdio da

that serious and independent media companies are great business.

su ozbiljne i nezavisne medijske kompanije veliki posao.

And I thought that B92 will survive and be a great company

I mislio sam da će B92 da preživi i da bude sjajna kompanija

once Milosevic is gone, which turned out to be true.

kada Milošević ode, što se ispostavilo kao tačno.

It's now probably either the biggest or the second biggest

Sada je verovatno ili najveća ili druga najveća

media company in the country.

medijska kuća u zemlji.

And I thought that the only thing that we needed at that time

I mislio sam da je jedina stvar koja nam je bila potrebna u tom trenutku,

was 1,000,000-dollar loan to take us through those hard times.

pozajmica od milion dolara, da nas provuče kroz ta teška vremena.

To make a long story short, the gentleman comes into the office,

Da skratim priču, gospodin je došao u kancelariju,

great suit and tie.

odlično odelo i kravata.

I gave him what I thought was a brilliant explanation

Dao sam mu ono što sam mislio da je izvanredno objašnjenje

of the political situation and explained how hard and difficult

političke situacije i objasnio sam koliko će težak

the war will be.

biti rat.

Actually, I underestimated the atrocities, I have to admit.

Zapravo, podcenio sam zločin, moram priznati.

Anyway, after that whole, big, long explanation,

Svejedno, posle tog čitavog, dugačkog objašnjenja,

the only question he had for me -- and this is not a joke --

jedino pitanje koje je imao za mene - i to nije šala -

is, are we paying royalties after we broadcast music

je, da li plaćamo naknadu Majkl Džeksonu nakon puštanja

of Michael Jackson?

njegove muzike?

That was really the only question he had.

To je stvarno bilo jedino pitanje koje je imao.

He left, and I remember being actually very angry at myself

Otišao je i sećam se da sam bio vrlo ljut na sebe

because I thought there must be an institution in the world

jer sam mislio da mora da postoji institucija na svetu

that is providing loans to media companies.

koja daje pozajmice medijskim kućama.

It's so obvious, straight in your face,

Očigledno je,

and somebody must have thought of it.

i neko je morao da se doseti toga.

Somebody must have started something like that.

Neko je morao da pokrene nešto slično tome.

And I thought, I'm just dumb and I cannot find it.

I mislio sam, glup sam i ne mogu to da nađem.

You know, in my defense, there was no Google at that time;

Znate, u moju odbranu, nije bilo Googla u to vreme;

you could not just Google in '91.

niste mogli da guglujete u '91.

So I thought that that's actually my problem.

I mislio sam da je to ustvari moj problem.

Now we go from here, fast forward to 1995.

Sada se brzo prebacujemo na 1995.

I have -- I left the country, I have a meeting with George Soros,

Napustio sam zemlju, imam sastanak sa Džordžom Sorosom,

trying for the third time to convince him that

pokušvam da ga po treći put ubedim da bi on trebalo -

his foundation should invest in something that should

njegova fondacija bi trebalo da uloži u nešto što bi

operate like a media bank.

funkcionisalo poput medijske banke.

And basically what I was saying is very simple.

I u osnovi ono što sam govorio bilo je vrlo jednostavno.

You know, forget about charity; it doesn't work.

Znate, zaboravite na humanitarnu pomoć, ne radi;

Forget about handouts; 20,000 dollars do not help anybody.

zaboravite na priručnike, 20000 dolara nikome ne pomaže.

What you should do is you should treat media companies as a business.

Ono što bi trebalo da uradite, jeste da tretirate medijske kompanije kao biznis.

It's business anywhere.

To je biznis svuda.

Media business, or any other business, it needs to be capitalized.

Medijski biznis ili bilo koji drugi biznis, mora biti kapitalizovan.

And what these guys need, actually, is access to capital.

I ono što ovi momci nude, zapravo je pristup kapitalu.

So third meeting, arguments are pretty well exercised.

Treći sastanak, argumenti su dobro provežbani.

At the end of the meeting he says,

I na kraju sastanka on kaže,

look, it is not going to work; you will never see your money back;

vidi, neće uspeti, nikad nećeš dobiti novac nazad.

but my foundations will put 500,000 dollars so you can test the idea.

Ali moj fond će ti dati 500 000 dolara da možeš da testiraš ideju.

See that it will not work.

Vidi i - vidi da neće uspeti.

He said, I'll give you a rope to hang yourself.

Rekao je, daću ti konopac da se obesiš.

(Laughter)

(smeh)

I knew two things after that meeting.

Znao sam dve stvari posle ovog sastanka.

First, under no circumstances I want to hang myself.

Prva, ni pod kojim uslovima se neću obesiti.

And second, that I have no idea how to make it work.

I druga, nemam ideju kako da stvar uspe.

You see, at the level of a concept, it was a great concept.

Vidite, na nivou koncepta, to je bila odlična ideja.

But it's one thing to have a concept;

Ali jedna je stvar imati koncept,

it's a totally separate thing to actually make it work.

a potpuno druga učiniti da ona uspe.

So I had absolutely no idea how that could actually work.

Tako da nisam imao nikakvu ideju kako to može da uspe.

Had the wrong idea; I thought that we can be a bank.

Imati pogrešnu ideju, posmislio sam da možemo da budemo banka.

You see banks -- I don't know if there are any bankers over here;

Vidite, banke, ne znam da li ovde ima bankara,

I apologize in advance -- but it's the best job in the world.

izvinjavam se unapred, ali to je najbolji posao na svetu.

You know, you find somebody who is respectable

Znate, pronađete nekoga koga poštuju

and has a lot of money.

i ko ima mnogo novca.

You give them more money; they repay you that over a time.

Date im više novca; oni vam vrate više tokom vremena.

You collect interest and do nothing in between.

Sakupljate kamate i ne radite ništa između.

So I thought, why don't we get into that business?

Pa sam pomislio, zašto se ne bismo upustili u taj biznis?

(Laughter)

(smeh)

So here we are having our first client, brilliant.

I evo nas s prvim klijentom, sjajno.

First independent newspaper in Slovakia.

Prve nezavisne novine u Slovačkoj.

The government cutting them off

Vlada im je uskraćivala

from all the printing facilities in Bratislava.

korišćenje svih štamparija u Bratislavi.

So here's the daily newspaper

Dakle, evo dnevnih novina,

that has to be printed 400 kilometers away from the capital.

koje moraju da se štampaju 400 kilometara od glavnog grada.

It's a daily newspaper with a deadline of 4 p.m.

To su dnevne novine sa rokom u 4 sata popodne.

That means that they have no sports;

To znači da nemaju sportsku stranu,

they have no latest news; circulation goes down.

nemaju najnovije vesti, promet ide dole.

It's a kind of very nice, sophisticated way

To je vrlo lep, sofisticiran način

how to economically strangle a daily newspaper.

da se ekonomski uguši dnevna novina.

They come to us with a request for a loan.

Oni dolaze kod nas sa zahtevom za pozajmicu.

They want to -- the only way for them to survive

Oni žele - jedini način da prežive

is to get a printing press.

je da nabave štamparsku presu.

And we said, that's fine; let's meet;

I rekli smo - to je u redu, hajde da se nađemo,

you'll bring us your business plan, which eventually they did.

vi ćete doneti svoj biznis plan, što na kraju i jesu.

We start the meeting.

Počeli smo sastanak.

I get these two pieces of paper, not like this, A4 format,

Dobio sam dva papira, ne poput ovih, A4 formata,

so it's much bigger.

dakle mnogo većih.

A lot of numbers there. A lot of numbers.

Mnogo brojeva na njima. Mnogo.

But however you put it, you know, the numbers

Ali kako god da ih postavite, brojevi

do not make any sense.

nemaju smisla.

And that's the best they could do.

I to je najbolje što su mogli da urade.

We were the best that they could do.

Mi smo bili najbolje što su mogli da urade.

So that is how we understood what our method is.

Tako smo razumeli šta je naš metod.

It's not a bank. We had to actually

Nije banka. Ustvari smo morali

go into these companies and earn our return

da idemo u ove kompanije i da zaslužimo svoj povrat novca

by fixing them -- by establishing management systems,

popravaljajući ih - uspostavaljajući menadžment sisteme,

by providing all that knowledge, how do you run a business

obezbeđujući svo znanje, kako voditi biznis,

on one side -- while they all know how to run, how to create content.

sa jedne strane - dok svi oni znaju kako da rade, kako da stvore sadržaj.

Just quickly on the results.

Samo kratko rezultati.

Over these 10 years, 40 million dollars in affordable financing,

Tokom ovih 10 godina, 40 miliona dolara u pristupačnim finansijama,

average interest rate five percent to six percent.

prosečna kamata 5 do 6 posto.

Lately we are going wild, charging seven percent from time to time.

U poslednje vreme ludimo, naplaćujemo 7 odsto s vremena na vreme.

We do it in 17 countries of the developing world.

Radimo u 17 zemalja u razvoju.

And here is the most stunning number.

I evo najneverovatnije cifre.

Return rate -- the one that Soros was so worried about -- 97 percent.

Povratna stopa - ono zbog koje je Soroš bio toliko zabrinut - 97 odsto.

97 percent of all the scheduled repayments came back to us on time.

97 posto svih otplata, vratilo nam se po utvrđenom rasposredu.

What do we typically finance?

Šta obično finansiramo?

We finance anything that a media company would need,

Mi finansiramo sve što je medijskoj kući potrebno

from printing presses to transmitters.

od štamparskih mašina do predajnika.

What is most important is we do it

Ono što je najvažnije jste što mi to činimo

either in form of loans, equities, lease --

u formi kredita, akcije ili zakupa -

whatever is appropriate for, you know, supporting anybody.

šta god je odgovarajuće za podršku nekoga.

But what is most important here is, who do we finance?

Ali ono što je najvažnije ovde je koga finansiramo?

We believe that in the last 10 years companies

Verujemo da su u poslednjih 10 godina kompanije

that we've financed are actually the best media companies

koje smo finansirali ustvari najbolje medijske kompanije

in the developing world.

u zemljama u razvoju.

That is a "Who is Who" list.

Ovo je "Ko je ko" lista.

And I could spend hours talking about them,

I mogao bih da provedem sate govoreći o njima,

because they're all kind of heroes.

jer su svi na neki način heroji.

And I can, but I'll give you just, maybe one,

Ali daću vam samo možda jedan,

and depending on time I may give you two examples

i u zavisnosti od vremena možda i dva primera toga

who we work with.

sa kim radimo.

You see we started working in Eastern and Central Europe,

Vidite, počeli smo da radimo u istočnoj i centralnoj Evropi,

and moved to Russia.

i prešli na Rusiju.

Our first loan in Russia was in Chelyabinsk.

Naša prva pozajmica u Rusiji bila je u Čelijabinksu.

I'll bet half of you have never heard of that place.

Kladim se da polovina vas nikada nije čula za ovo mesto.

In the south of Russia there's a guy called

Na jugu Rusije postoji čovek koji se zove

Boris Nikolayevich Kirshin, who is running

Boris Nikolajevič Kiršin, koji tamo vodi

an independent newspaper there.

jedne nezavisne novine.

The city was closed until early '90s

Grad je bio zatvoren do ranih '90-ih

because, of all things, they were producing glass for Tupolev planes.

zbog mnogo stvari, oni su proizvodili staklo za Tupoljev avione.

Anyway, he's running independent newspaper there.

Dakle, on tamo vodi jedne nezavisne novine.

After two years working with us, he becomes

Nakon dve godine rada sa nama, one postaju

the most respected newspaper in that small place.

najuglednije novine u tom malom mestu.

Governor comes to him one day,

Guverner dolazi do njega jednog dana,

actually invites him to come to his office.

ustvari zove ga da dođe u njegovu kancelariju.

He goes and sees the governor. The governor says,

On odlazi da vidi guvernera. Guverner kaže,

Boris Nikolayevich, I understand you are doing a great job,

Borise Nikolajeviču, čujem da radite odličan posao,

and you are the most respected newspaper in our district.

i vi ste najuglednije novine u našem okrugu.

And I want to offer you a deal.

I nudim vam dogovor.

Can you please give me your newspaper for the next nine months,

Možete li molim vas da mi date vaše novine sledećih devet meseci,

because I have elections --

jer imam izbore -

there are elections coming up in nine months.

za devet meseci su izbori.

I will not run, but it's very important for me

Neću se kandidovati, ali je vrlo važno za mene

who is going to succeed me.

da znam ko će me naslediti.

So give me the paper for nine months. I'll give it back to you.

Dakle, dajte mi novine na devet meseci, ja ću vam ih vratiti.

I have no interest in being in media business.

Nemam interesovanja da budem u medijskom biznisu.

How much would that cost?

Koliko bi to koštalo?

Boris Nikolayevich says, "It's not for sale."

Boris Nikolajevič kaže, "Nije na prodaju."

The governor says, "We will close you."

Guverner kaže, "Zatvorićemo vas."

Boris Nikolayevich says, "No, you cannot do it."

Boris Nikolajevič kaže, "Ne, ne možete to da uradite."

Six months later the newspaper was closed.

Šest meseci kasnije, novine su zatvorene.

Luckily, we had enough time to help Boris Nikolayevich

Srećom imali smo dovoljno vremena da pomognemo Borisu Nikolajeviču

take all the assets out of that company and bring him into a new one,

da uzme svu imovinu i da je uloži u novu kompaniju,

to get all the subscription lists, rehire staff.

da uzme sve pretplatne liste, ponovo unajmi ljude.

So what the governor got was an empty shell.

Dakle, guverner je dobio praznu školjku.

But that is what happens if you're in business of independent media,

Ali to je ono što se dešava ukoliko ste u poslu sa nezavisnim medijima,

and if you are a banker for independent media.

i ako ste bankar za nezavisne medije.

So it sounds like a great story.

Dakle zvuči kao sjajna priča.

Somewhere down the road we opened a media management center.

Negde usput smo otvorili medijski menadžment centar.

We started our media lab, sounds like a real great story.

Pokrenuli smo našu medijsku laboratoriju, zvuči kao zaista sjajna priča.

But there is a second angle to that.

Ali postoji i drugi ugao.

The second angle, like in this clip.

Drugi ugao, poput ovog na snimku.

If you take the camera above, you start thinking

Ako podignete kameru, počinjete ponovo da

about these numbers again.

razmišljate o ovim brojkama.

40 million dollars over 10 years spread over 17 countries.

40 miliona dolara za više od 10 godina rašireno na više od 17 zemalja.

That is not too much, is it?

Ovo nije previše, je li?

It's actually just a drop in the sea.

Ustvari je samo kap u moru.

Because when you think about the importance,

Jer kada razmišljate o važnosti,

some of the issues that we were talking about last night --

neki od problema o kojima smo razgovarali prošle noći -

this last session we had about Africa and his

poslednja sesija o Africi i njoj

hypothetical 50 billion dollars destined for Africa.

namenjenih hipotetičkih 50 milijardi dolara.

All of those, not all, half of those problems mentioned last night --

Sve to, ne sve, ali polovina problema spomenutih prošle noći -

government accountability, corruption, how do you fight corruption,

odgovornost vlade, korupcija, kako se boriti protiv nje,

giving voice to unheard, to poor --

davanje glasa nečujnima, siromašnima -

it's why independent media is in business.

je zašto nezavisni mediji postoje.

And it's why it was invented.

I zato su oni i izmišljeni.

So from that perspective, what we did is just really

Tako da iz te perspektive, ono što smo uradili je zapravo

one drop in the sea of that need that we can identify.

jedna kap u moru potreba koje možemo da prepoznamo.

Now ours is just one story.

Sada, naša priča je samo jedna.

I'm sure that in this room there are, like, 15 other wonderful stories

Siguran sam da u ovoj sobi ovde, ima 15 drugih sjajnih priča

of nonprofits doing spectacular work.

neprofitnih organizacija koje rade izvanredan posao.

Here is where the problem is,

Evo šta je problem,

and I'll explain to you as well as I can what the problem is.

i objasniću vam to.

And it's called fundraising.

Zove se sakupljanje sredstava.

Imagine that this third of this room is filled

Zamislite da je trećina ove sobe ispunjena

with people who represent different foundations.

ljudima koji predstavljaju različite fondacije.

Imagine two thirds over here running excellent organizations,

Zamislite ovde dve trećine koji vode sjajne organizacije,

doing very important work.

rade veoma važan posao.

Now imagine that every second person over here

Sad zamislite da je svaka druga osoba ovde

is deaf, does not hear, and switch the lights off.

gluva, ne čuje i ugasite svetla.

Now that is how difficult it is to match people

Toliko je teško spojiti ljude

from this side of the room

sa ove strane sobe

with people of that side of the room.

sa ljudima sa druge strane.

So we thought that some kind of a big idea is needed

Pomislili smo da je potrebna neka vrsta velike ideje

to reform, to totally rethink fundraising.

da reformiše, potpuno promeni ideju sakupljanja sredstava.

You know, instead of people running in this dark,

Znate, umesto da ljudi trče u mraku,

trying to find their own match, who will be willing,

pokušavajući da nađu svog para, koji će biti voljan,

who has the same goals.

koji ima iste ciljeve.

Instead of all of that we thought there is --

Umesto svega toga pomislili smo da mora

something new needs to be invented.

nešto novo da se izmisli.

And we came up with this idea of issuing bonds,

I došli smo do te ideje izdavanja obveznica,

press freedom bonds.

obveznica za slobodnu štampu.

If there are investors willing to finance

Ako postoje investitori spremni da finasiraju

U.S. government budget deficit,

deficit u budžetu Sjedinjenih država,

why wouldn't we find investors willing to finance

zašto ne bismo pronašli investitore spremne da finasiraju

press freedom deficit?

deficit u budžetu slobodne štampe?

We've decided to do it this fall; we will issue them,

Odlučili smo da to uradimo ove jeseni, izdaćemo ih,

probably in denominations of 1,000 dollars.

verovatno u apoenima od 1000 doalra.

I don't want to advertise them too much; that's not the point.

Ne želim mnogo da ih reklamiram, to nije poenta.

But the point is, if we ever survive to actually issue them,

Suština je, ako uopšte preživimo da ih zaista izdamo,

find enough investors that this can be considered a success,

nađemo dovoljno investitora da to smatramo uspehom,

there's nothing stopping the next organization

ne postoji ništa što sprečava sledeću organizaciju

to start to issue bonds next spring.

da počne da izdaje obveznice sledećeg proleća.

And those can be environmental bonds.

A to mogu da budu ekološke obveznice.

And then two weeks later, Iqbal Quadir can issue his

I za dve nedelje, Ikubal Kvadir može da izda svoje

electricity in Bangladesh bonds.

obveznice za struju u Bangladešu.

And before you know it, any social cause

I vrlo brzo, bilo koji socijalni problem

can be actually financed in this way.

ustvari može da bude finansiran na ovaj način.

Now we do daydreaming in 11:30 with 55 seconds left.

Sada sanjarimo u 11:30 pre podne i imamo još 55 sekundi.

But let's take the idea further.

Ali hajde da razvijemo ideju još malo.

You do it, you start it in the States, because it's,

Uradite to, započnite to u Sjedinjenim Državama, jer je to,

you know, concepts are very, very close to American minds.

znate, koncept vrlo vrlo blizak američkom načinu razmišljanja.

But you can actually bring it to Europe, too.

Ali to može da se prenese i u Evropu.

You can bring it to Asia.

I u Aziju.

You can, once you have all of those different points,

Možete, kada imate sve te različite tačke,

you can make it easy for investors.

možete olakšati investitorima.

Put all of those bonds at one place

Stavite sve te obveznice na jedno mesto

and they sit down and click.

a oni sede i biraju.

Once you have more than 10 of them

Kada sakupite više od 10

you have to develop some kind of a matrix.

morate da razvijete neku vrstu matrice.

What do investors get?

Šta investitori dobijaju?

On one side financial, on the other side social.

Sa jedne strane finasije, sa druge strane društvo.

So that brings the idea of some kind of rating agency,

To donosi ideju o nekoj vrsti rejting agencije.

Morningstar type.

Tipa "Morningstar".

It says, you know, social impact over here is spectacular, five stars.

Ona kaže, socijalni uticaj ovde je sjajan, pet zvezdica.

Financial, they give you one percent, only one star.

Finansijski je jedan posto, samo jedna zvezdica.

Now take it to the last step.

Idemo sada na poslednji korak.

Once you have all of that put together,

Jednom kada ste sve to sastavili,

there's not one reason why you couldn't actually have

ne postoji razlog zašto ne biste imali

a marketplace for all of that,

tržište za sve to

where you cannot dispose of all of those bonds in a pretty quick way.

gde možete da se otarasite svih tih obveznica na prilično brz način.

And in that way you organize the financing

I na taj način možete da organizujete finansiranje

so there are no dark rooms, no blind people

tako da nema tamnih soba, nema slepih ljudi

running around to find each other.

koji trče okolo u potrazi jedni za drugima.

Thank you.

Hvala vam.