The Ledger
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Jillian Manus sees no ethical conflict in profiting from homelessness solutions
“I don't see any ethical questions in this case. I see this as investing in hopefully a sustainable business That will provide paths to self-sufficiency and to salvation in many cases for people who've been marginalized and literally passed over, you know, ever…”
Jonathan Kumar says enriching VCs is acceptable if it speeds homelessness relief
“Like I am glad about getting to people in five years instead of 10, if we were doing banquet fundraisers and passing the hat for donations, it's all about how can we help people across the country experiencing homelessness the fastest. And if we need to make s…”
Jonathan Kumar projects Samaritan capping out as a $25M annual business
“I think when we win, this is a 15 to twenty-five million dollar a year business, so it's not in a stratosphere in terms of VCs and Facebook-type valuations, so we definitely believe there are returns to be had.”
Michael Hyatt believes VCs avoid boasting about profiting off homelessness programs
“I don't see any VC wanting to say to their investors that they made all this money off of this type of program.”
Jonathan Kumar says Samaritan is not targeting an acquisition or IPO
“We're not targeting an exit right now. We're focusing on, on building an incredible business that helps nonprofits and cities better understand, reduce, and ultimately prevent situations of homelessness.”
Phil Nadel believes Samaritan operates too much like a non-profit to scale
“I don't mind investing in public benefit companies, but this just seems to be too much like a non-profit. I just, I, you know, I'm just having trouble with how this really scales to be a big company.”
Michael Hyatt passes on Samaritan, feeling uncomfortable profiting from alleviating homelessness
“So I'm gonna pass, and here's my reasoning. I can't get comfortable around being involved in a business like this because I don't feel comfortable pushing for profit and scaling and all this kind of stuff, and when I have to consider what we're really doing.”
Samaritan's Seattle pilot helps 28 leave streets and generates $100K revenue
“We've launched a 500 beacon pilot in Seattle, and we've seen and helped over 28 beacon holders leave the street, saving our city half a million dollars per year and earning our first 100,000 dollars in licensing revenue.”
Charles Hudson passes on Samaritan due to institutional venture return thresholds
“And so if I were an angel investor, I would invest in your company because from my personal angel investments that I made before I had my fund, I was able to set my own return threshold. I could say, if I get my money back on this investment and I get a chance…”
Jonathan Kumar says Samaritan will pivot to non-profit if VC path fails
“And if we fail, but we're, it's still worth keeping Samaritan around, then we'll do the donor route.”
Samaritan users completing monthly check-ins are likely to exit to housing
“We see that beacon holders who complete those one-on-ones are likely to exit to housing, employment.”
Samaritan aims to expand its platform to 99 additional cities by 2023
“Our ultimate vision is to help people without a home in 99 more cities by twenty-twenty-three.”
Samaritan active users receive $40-$50 monthly and show 30-40% program retention
“We see right now about 40 to 50 dollars per active beacon holder per month, which is so low, but what's amazing about that number is even with an amount as low as 40 to 50 dollars, we're seeing 30 to 40% of beacon holders keep their beacon and go through the p…”
Samaritan raised $500,000 of its $1M goal, including $25,000 from Jillian Manus
“He ended up raising 500,000 dollars of the one million he was seeking on our show. 25 K of which came from Jillian.”