Wow, he hasn't followed this strategy: "set up a legacy fund that annually tosses pennies at a $10 problem." One of the things almost all foundations do is thi

Wow, he hasn't followed this strategy: "set up a legacy fund that annually tosses pennies at a $10 problem." One of the things almost all foundations do is this: give 100K for $100M problem. There are certain reasons for this: (a) foundations have become mini governments; (b) foundations want to support everyone that comes their way; (c) either foundations can't judge the potential of ventures or they end up supporting their crony or pet projects.