The Chan Zuckerberg Initiative makes its first investment • Hacker News Board

Re: The Chan Zuckerberg Initiative makes its first investment

#21

Post by smt88 » Thu, Jun 16, 2016, 9:48 AM UTC

apsec112 wrote: post #11

If Facebook doesn't try to hire more black developers, this proves they're evil, because they must be racists. If they do try to hire more black developers, this also proves they're evil, because now they're exploiting black people to drive down labor costs. Likewise, if Zuckerberg doesn't donate to charity, he is evil because he's selfishly hoarding his wealth; if he does donate, he's evil because he's trying to exp…

> they're exploiting black people to drive down labor costs

> he's evil because he's trying to exploit the underprivileged to enhance his own prestige

These are straw men. Serious people aren't criticizing him for things like this. Almost 100% of publicly-known charity is, to some extent, designed to enhance prestige.

As far as "exploiting" black people to drive down labor costs, it's not like they're Chinese factory workers ruining their health. They'd just be coding. There's some probable protectionist criticism related to hiring Africans instead of Americans, but that happens regardless of the wages that foreigners are being paid.

Re: The Chan Zuckerberg Initiative makes its first investment

#22

Post by wodenokoto » Thu, Jun 16, 2016, 10:27 AM UTC

smt88 wrote: post #21

apsec112 wrote: post #11

If Facebook doesn't try to hire more black developers, this proves they're evil, because they must be racists. If they do try to hire more black developers, this also proves they're evil, because now they're exploiting black people to drive down labor costs. Likewise, if Zuckerberg doesn't donate to charity, he is evil because he's selfishly hoarding his wealth; if he does donate, he's evil because he's trying to exp…

> they're exploiting black people to drive down labor costs > he's evil because he's trying to exploit the underprivileged to enhance his own prestige These are straw men. Serious people aren't criticizing him for things like this. Almost 100% of publicly-known charity is, to some extent, designed to enhance prestige. As far as "exploiting" black people to drive down labor costs, it's not like they're Chinese factory…

As of right now, the second highest top comment is the "exploiting black people" thing.

I think the parent did well in exposing how people seemingly want to make a witch out of Zuckerberg no matter what he does.

Re: The Chan Zuckerberg Initiative makes its first investment

#23

Post by nxzero » Thu, Jun 16, 2016, 10:28 AM UTC

It's sad that if some attempt to do good, often it's not good enough, but if they do nothing, it's okay.

It's unlikely I ever agree with how other people try to do good, but I am grateful that they try.

Go some go good; today!

Re: The Chan Zuckerberg Initiative makes its first investment

#24

Post by flopto » Thu, Jun 16, 2016, 10:40 AM UTC

blackbagboys wrote: post #16

bhudman wrote: post #15

Is Andela a 501c3 company? Trying to understand the motivations for these foundations to give money away Andela is a for profit company

The Chan Zuckerberg Initiative is also a for profit company.

I thought you were joking, but apparently I haven't been following this. The Chan Zuckerberg Initiative is an LLC with no association to any 501c3.

Re: The Chan Zuckerberg Initiative makes its first investment

#25

Post by zrail » Thu, Jun 16, 2016, 10:41 AM UTC

Apparently obligatory: Chan Zuckerberg Initiative is not a non-profit. It's a family office that wraps itself in a cloak of philanthropy. It's not a charity, it's a for-profit business.

Maybe at some point it will grow a 501c3 arm but thus far it has not.

Re: The Chan Zuckerberg Initiative makes its first investment

#26

Post by igk » Thu, Jun 16, 2016, 10:48 AM UTC

apsec112 wrote: post #11

If Facebook doesn't try to hire more black developers, this proves they're evil, because they must be racists. If they do try to hire more black developers, this also proves they're evil, because now they're exploiting black people to drive down labor costs. Likewise, if Zuckerberg doesn't donate to charity, he is evil because he's selfishly hoarding his wealth; if he does donate, he's evil because he's trying to exp…

If he wants to not seem evil, make the foundation a nonprofit with a clear goal. Like this, it is a Publicity stunt and tax optimisation scheme which to date has only invested into things which aid Facebook the corporation.

Mind you, the cause might be honourable, and there is nothing evil about enlightened self interest. But since their foundation isn't a nonprofit, this seems not very different to me than if he had created a VC fund.

If I am wrong, I look forward to learning

Re: The Chan Zuckerberg Initiative makes its first investment

#27

Post by ucaetano » Thu, Jun 16, 2016, 10:49 AM UTC

"The publication reports that the Initiative is leading a $24 million funding round for the New York-based start up, in which GV, formerly known as Google Ventures, is also involved."

So, what's the difference between it and other VC companies, besides being controlled by a single person?

Re: The Chan Zuckerberg Initiative makes its first investment

#28

Post by igk » Thu, Jun 16, 2016, 10:52 AM UTC

cpach wrote: post #8

blackbagboys wrote: post #2

I suppose I can't help but admire the chutzpah of cloaking a tax deductible scheme to drive down your labor costs as a noble quest to "advance human potential". Now where did I put my black and red flags...

Huh? Would you rather see less educational opportunities for African citizens?

I'd rather see some which are honest about wanting to exploit the cost of living diffential instead of acting like charity, or some which are actually nonprofit charities, not startups like Angela and tax optimisation schemes like zuckerbergs fund

Re: The Chan Zuckerberg Initiative makes its first investment

#29

Post by bko » Thu, Jun 16, 2016, 10:53 AM UTC

blackbagboys wrote: post #14

adwf wrote: post #10

Earlier quoted context omitted.

Whether you believe he is doing a good thing because it's a good thing, or just because he wants to be seen doing a good thing, it doesn't change the fact that the good thing is being done. Tax deductibility does indeed incentivise charitable giving, possibly for selfish reasons. But the person on the recieving end of education/healthcare/whatever, doesn't really care do they? The effect is what's important, not the…

I don't believe that he is making this investment for either of those reasons. I believe he is making it because developing additional pools of low-cost contract labor is in the long term excellent for his business. Additionally, Andela will capture some of the delta between the cost of African and the cost of Indian or American developers, some of which will in turn be returned to the Initiative to finance future fo…

> low-cost contract labor

Phrases like that ring to me to describe a two class of people: a "low cost" tier, and a "normal cost" tier. To me this has obvious racist overtones as "low-cost" is often followed by [nationality]. If someone is willing to work harder, she should get the job, but somehow if that same person is willing to work as hard for less money, she is unworthy? Sure the company benefits from a spread between what a person makes and what they contribute, but they do so already. Eventually if that spread becomes too large, other companies will exploit this arbitrage and start new businesses and bid up the employees compensation. You are free to do so as well assuming you live in a free capitalist society.

Re: The Chan Zuckerberg Initiative makes its first investment

#30

Post by ucaetano » Thu, Jun 16, 2016, 10:58 AM UTC

wodenokoto wrote: post #22

smt88 wrote: post #21

Earlier quoted context omitted.

> they're exploiting black people to drive down labor costs > he's evil because he's trying to exploit the underprivileged to enhance his own prestige These are straw men. Serious people aren't criticizing him for things like this. Almost 100% of publicly-known charity is, to some extent, designed to enhance prestige. As far as "exploiting" black people to drive down labor costs, it's not like they're Chinese factory…

As of right now, the second highest top comment is the "exploiting black people" thing. I think the parent did well in exposing how people seemingly want to make a witch out of Zuckerberg no matter what he does.

Sadly Zuckerberg himself seems to provide plenty of ammunition for those claims:

- Aggressive disregard of privacy on FB

- Using deception and dirty tactics to make the FB app run continuously on the background of your phone

- Manipulating timeline results

- Manipulating trending topics

- Naming a for-profit arm of the company ".org"

- Publicly attacking net neutrality activists by buying gigantic ads across India

- Calling the Brazilian people to protest in front of the Congress

- Whitewashing his personal for-profit investment company as a "initiative"

Regardless of whether he is or not bad or whatever, he appears extremely arrogant when you take in account some of the actions above, so it is quite understandable that people see him that way. Oh, and the movie.

PS: Some of the actions above are not personally his, but are from the company which he controls completely, so it is quite understandable that people attribute it to him.