4 ms·

So it's not actually a charity after all - it's a private LLC that will make ''philanthropic'' investments which, if well run, could snowball the $45b of Facebo

by nugget 11y ago

So it's not actually a charity after all - it's a private LLC that will make ''philanthropic'' investments which, if well run, could snowball the $45b of Facebook stock into hundreds of billions of dollars of privately owned and controlled wealth. Will the LLC take equity in projects like a venture capital firm or will it truly gift money away? (If gifting money, there's no reason not to leverage the charitable structure to manage taxes, which makes me think they will seek equity positions.) This structure might be a more effective way to impact the world but it's definitely a bit of whiplash from the way this whole project was initially reported.

skadamat 11y ago
So maybe the reporting was off :)
- zardo 11y ago
  Well... yeah. His letter said exactly what it was.
ameen 11y ago
It could've been undone by a rush of cold blood to his head on the back of the birth of his offspring. In any case he reserves the right to do whatever he deems appropriate.
- wavefunction 11y ago
  He is, but it's not like he also gets to say he's doing one thing when he's doing another. Or that he is suddenly immune to criticism.
  - ameen 11y ago
    Exactly, but you have to realise being a dad suddenly changes the world for you (I mean if you've had an intention of having a family). The world suddenly seems a cruel place for your child, your current salary as insufficient, current residence as inhospitable for an infant, etc. You always see room & make excuses for improvement. His post could've been nothing more than an emotionally charged outlet yet not stupid enough that he'd lose his station immediately. In any event, him doing one thing or another isn't going to affect most of us in our lifetimes (the fruits of research are usually tasted by further generations than by ours)
blisterpeanuts 11y ago
From the posting: The Chan Zuckerberg Initiative is structured as an LLC rather than a traditional foundation. This enables us to pursue our mission by funding non-profit organizations, making private investments and participating in policy debates -- in each case with the goal of generating a positive impact in areas of great need. Any net profits from investments will also be used to advance this mission. It sounds as though they're truly giving money to some nonprofits, as well as investing in other worthwhile ventures, and will reinvest the profits to good causes as well.
- wavefunction 11y ago
  You left out perhaps the most interesting part: >participating in policy debates Like advocating for increased H1-B visas over simply awarding more visas directly to individuals, as one "policy debate" Zuckerberg has recently supported. Or whatever strikes his fancy at the time.

by nugget 11y ago

skadamat 11y ago

So maybe the reporting was off :)

zardo 11y ago
Well... yeah. His letter said exactly what it was.

ameen 11y ago

It could've been undone by a rush of cold blood to his head on the back of the birth of his offspring. In any case he reserves the right to do whatever he deems appropriate.

wavefunction 11y ago
He is, but it's not like he also gets to say he's doing one thing when he's doing another. Or that he is suddenly immune to criticism.
- ameen 11y ago
  Exactly, but you have to realise being a dad suddenly changes the world for you (I mean if you've had an intention of having a family). The world suddenly seems a cruel place for your child, your current salary as insufficient, current residence as inhospitable for an infant, etc. You always see room & make excuses for improvement. His post could've been nothing more than an emotionally charged outlet yet not stupid enough that he'd lose his station immediately. In any event, him doing one thing or another isn't going to affect most of us in our lifetimes (the fruits of research are usually tasted by further generations than by ours)

blisterpeanuts 11y ago

From the posting: The Chan Zuckerberg Initiative is structured as an LLC rather than a traditional foundation. This enables us to pursue our mission by funding non-profit organizations, making private investments and participating in policy debates -- in each case with the goal of generating a positive impact in areas of great need. Any net profits from investments will also be used to advance this mission. It sounds as though they're truly giving money to some nonprofits, as well as investing in other worthwhile ventures, and will reinvest the profits to good causes as well.

wavefunction 11y ago
You left out perhaps the most interesting part: >participating in policy debates Like advocating for increased H1-B visas over simply awarding more visas directly to individuals, as one "policy debate" Zuckerberg has recently supported. Or whatever strikes his fancy at the time.