I would agree that social impact bonds and pay for performance are in no way a solution for every social challenge or social issue. In the beginning of my presentation, I tried to explain why I thought in this specific example it could make sense because of the cost, the lack of success in the current system, and the relatively short pathway to success where you can demonstrate within a year or two the level of reoffending rates. That made it potentially a good candidate for some form of intervention.
I don't think we have to be afraid of private capital displacing public money in this area for a long time, because I just don't think investors will look to this for five to ten years. But I do think we could see foundation, government, and philanthropic funding made available in partnership with the federal government if there was an interest in testing this.