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Mark Zuckerberg Agrees to Give Away Fortune

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41–50 of 206 posts

Re: Mark Zuckerberg Agrees to Give Away Fortune

#41
post #33

You can give it away while you're alive, or split it between your loved ones and the state when you die. I think it would be more fun giving it away to those most in need rather than enriching those who've already had a pretty good life... and your loved ones, too.

perhaps, but if you teach and educate your children how they can duplicate your success, and give them a headstart with the fortune you've built, then you can do just as much, if not more, than the charity down the street.

Look, I'm not advocating against giving, but I don't think jumping into pledges is the smartest way to begin.

Re: Mark Zuckerberg Agrees to Give Away Fortune

#43

I'd rather see more people following the lead of Elon Musk than Bill Gates. Instead of throwing money at problems that will always exist and producing no real value, Musk is creating high-tech jobs and advancing the state of humanity.

How dare bill gates help people get access to clean water and better agricultural techniques!

Re: Mark Zuckerberg Agrees to Give Away Fortune

#44

Earlier quoted context omitted.

I disagree. I've heard Bill Gates speak and spoken with profs who worked with him; he is deeply informed on the health and edu issues he works on. If we can get smart, creative people tackling those, all the better. Some problems don't have a market solution.

Gates might be the exception, and I do admire his work on malaria. But I really do wonder if there isn't a bigger idea that he's cowering away from in his quest to simply give his fortune away.

The quest to give his fortune away and cowering from a bigger idea?

He is changing the way development works. He is better funded than almost anyone else with no obligation to any other stakeholders (namely governments and political entities that use aid as a political chip).

He gets the opportunity to, as a private individual, challenge the market failures of our time. Who else is going to fund research aimed at saving the world's poorest with little chance of ROI? He can basically act like China does with their foreign aid but without taking all their natural resources in exchange.

If you truly think there is some big idea he is cowering from, you may have the greatest imagination I know of.

It doesn't read like a quest to give his fortune away, it looks more like a quest to try and solve some of the most intractable problems of poverty that the world faces. His legacy is trying to make the world a better place for the people sitting at the very bottom who capitalism has forsaken.

Re: Mark Zuckerberg Agrees to Give Away Fortune

#45

Earlier quoted context omitted.

I disagree. I've heard Bill Gates speak and spoken with profs who worked with him; he is deeply informed on the health and edu issues he works on. If we can get smart, creative people tackling those, all the better. Some problems don't have a market solution.

Gates might be the exception, and I do admire his work on malaria. But I really do wonder if there isn't a bigger idea that he's cowering away from in his quest to simply give his fortune away.

Your wonderings say a lot about you, and nothing about Bill Gates.

You're the reason fame sucks. He picks a direction, and some nobody starts psychoanalyzing him and pretending that his attempts to solve incredibly large global problems is just a cop-out so he can't do some new software business instead.

Re: Mark Zuckerberg Agrees to Give Away Fortune

#46
post #8
post #5

Well, this will properly be nice for those who receive those founds, but I have to wonder why he did it. Why get a fortune just to give it away?

I think that for some people, particularly billionaires, money is more about keeping score.

After a certain point, you obviously don't need any more money, but a lot of super rich people clearly can't help themselves in trying to accumulate more wealth.

Re: Mark Zuckerberg Agrees to Give Away Fortune

#47

I'd rather see more people following the lead of Elon Musk than Bill Gates. Instead of throwing money at problems that will always exist and producing no real value, Musk is creating high-tech jobs and advancing the state of humanity.

I share neither your certainty that malaria will always exist, nor your belief that ending the epidemic would produce no real value. Along with HIV, it has crippled a continent and caused immeasurable suffering.

Elon Musk is doing great things. How many other potential Musks are there whose opportunities to do such things were cut short due to the very problems the Gates foundation addresses? Even just in his home country, South Africa, there have likely been a few.

Re: Mark Zuckerberg Agrees to Give Away Fortune

#48
post #17

Earlier quoted context omitted.

> I'd pledge if I had any hugely significant sum like the others in the pledge Lives in the developing world can be saved for less than $1000/life (that is, something like $20 per disability-adjusted-life-year). You personally could save dozens--perhaps hundred--of human lives, which I consider to be hugely significant.

but for how long?

I earn a pretty good salary in a developing country. 'Pretty good' is quite relative and would be minuscule compared to salaries in the developed world. But - I live a comfortable life here, and 10% of my monthly salary I donate is sufficient to support 2 kids for schooling, lodging and food.

So, yes, starting small means a lot, and it doesn't need to be a huge amount at all.

Re: Mark Zuckerberg Agrees to Give Away Fortune

#49
post #5

Well, this will properly be nice for those who receive those founds, but I have to wonder why he did it. Why get a fortune just to give it away?

You should read How To Get Rich by Felix Dennis. Here is an excerpt where he mentions giving money away: "So why do I not give it away? Because I worked too hard for it. Because I am tained by it. Because I am afraid to. All those reasons and more. Perhaps, if I am lucky enough to become old, I will accumulate something else: the courage to give it all away before I die. That would be a good thing, I think. ... "Giving money away when you are dead takes no guts. No courage. But to divest yourself of hundreds of millions of dollars, or the greater part of your fortune, before your death? That would be something to be proud of, don't you think? It even makes logical sense."

Re: Mark Zuckerberg Agrees to Give Away Fortune

#50
post #37

Earlier quoted context omitted.

It may seem that they are just giving it away to charity. But many of the donations that Bill Gates provides are making new waves in terms of research, development techniques and expanding microfinance. They are not just pledging money away. These are serious investments that are evaluated in the same way a VC/Angel pick a startup. A colleague of mine tried to apply/pitch to the Bill and Melinda Gates Foundation and…

I realize Gates does this and I think it's great. I just wonder if Gates might have the ability to do far more if he just invested in himself.

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