Improving human dignity is an engine of scale, w/Promise CEO Phaedra Ellis-Lamkins

Debt Solutions

Phaedra Ellis-Lamkins, CEO of Promise, challenges traditional debt systems by offering flexible, dignified solutions for those in financial distress. She highlights the disparity in treatment between those with good credit and those without, emphasizing that the poorest often receive the least flexibility. This approach led to a 93% repayment rate, proving that when given the chance, people will pay back their debts.

It was really the belief that people will pay you back if you make it easy for them, which is what we do for people with good credit. We just don't do it for poor people.

--- Phaedra Ellis-Lamkins

Promise's success in Oakland spurred interest from other municipalities, demonstrating that dignity can be a powerful engine for change and efficiency 1 2.

   

Workplace Dignity

Phaedra's journey from labor leader to tech entrepreneur is marked by her commitment to dignity in the workplace. She observed a stark disconnect in Silicon Valley, where tech companies often overlooked the dignity of non-engineering staff. This realization fueled her drive to create platforms that scale impact while maintaining human dignity.

The essence of technologies was supposed to be liberation, freedom, access to information.

--- Phaedra Ellis-Lamkins

Her experiences in the labor movement and tech industry shaped her belief that technology should enhance, not diminish, the dignity of all workers 3 4.

   

Dignity-First

Phaedra's dignity-first approach in business prioritizes customer success alongside company success. She envisions a model where both parties benefit, aligning their interests rather than pitting them against each other. This philosophy is evident in her decision to pivot Promise's focus to prevent the criminalization of poverty.

The lens through which she saw her business was the lens of human dignity.

--- Reid Hoffman

By addressing systemic issues like suspended licenses due to unpaid fines, Phaedra aims to keep people out of the criminal justice system, reinforcing her commitment to justice and equality 5 6.