The dollar cost averaging people talk about, it works really well. Hanyecz is known as the first person to use bitcoin in a commercial transaction. Fleischman drops by with his daily valium shot. You can buy a pizza with Bitcoin. So, swings and roundabouts, EH? On May 22,when bitcoin was a little over a year old, he bought two pizzas for 10, BTC. Startup founders do this calculus whenever they raise capital.
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Angeles asks all managers to provide detailed information on gender and race across their investment team, ownership structure and overall employee count. We go beyond the statistics in seeking to understand managers' commitment to promoting DEI at their firm and within the industry overall; we want to know managers' DEI goals and how they plan to measure and communicate progress.
In addition, we press managers on whether and how they engage with the companies where they invest regarding DEI goals and practices. In managing our own firm, Angeles cultivates and promotes a culture of ethics and social responsibility. We value and foster diversity and inclusion at our firm. We believe a diverse team enables us to make better investment decisions through the rigor that accompanies the input of diverse perspectives, insights, experiences, and ideas.
We believe our culture fosters employee well-being and team collaboration, which leads to better investment outcomes. DEI considerations are fully integrated in our manager research process. Our manager research process is designed to deliver and demands measureable results from ourselves and the managers where we place client assets.
Angeles has a responsible investing policy and responsible investing is part of our culture. The new guidance clarifies that foundation managers are not limited to choosing investments that drive the highest financial return.
But rather, they can consider mission as part of that decision-making process as long as they take careful and prudent steps to ensure their investment decisions support the foundation's charitable purpose. To learn more about this guidance read this blog from the Council on Foundations or watch the webinar below. This guidance was a radical shift, allowing leading foundations to take bold steps toward activating their endowment for impact.
In an effort to educate other foundations about their approach, they developed a brief video see below which helps explain what MRIs are, how organizations can use them, and the impact potential of MRIs.
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