6 ms·

Mackenzie Scott gives away another £2B

70 points by lakis 5y ago

deleted 5y ago
[deleted]
- david_dan 5y ago
  look bad in front of whom? Other clueless socialists? I'd rather he compound his wealth and build space platforms, invest in large climate science than try to look good in front of woke social justice warriors
RocketOne 5y ago
I think the most startling fact is that she's already remarried - that's not a lot of time to recuperate from a 26 yr marriage, start dating and remarry. Hope it all works out.
- spoonjim 5y ago
  I know, she didn’t even wait the customary 5 year grieving period after your husband starts carrying on a very public affair with dick pics and everything.
  - deleted 5y ago
    [deleted]
- deleted 5y ago
  [deleted]
- jordache 5y ago
  most useless comment on HN of the year award?
- bstar77 5y ago
  She gives away "another" £2 billion and there's still room for judgement.
- selykg 5y ago
  Ya know... I've sort of taken the stance of "if they aren't hurting me or others, I don't really care what they do." It helps me be a lot less judgmental. Besides, often times I don't know the whole story, so who am I to judge how someone lives their life?
- eptcyka 5y ago
  Why do you think that matters?
AdamN 5y ago
I wish she would give to governments :-/ There are thousands of governments in the US (and many more globally). Towns, cities, counties and states and of course the federal government. Many of these governments are accountable and effective in a way that charities aren't.
- adflux 5y ago
  LOL Is this satire?
  - gameswithgo 5y ago
    It is very easy to see that governments are flawed and imperfect, but people forget that the reason we can calmly laugh at our governments from our air conditioned homes, with clean water etc (except in Flint Michigan) is because in the context of human civilization they are incredible institutions, without which we would be roaming a mad max wasteland.
    - wyager 5y ago
      Still hard to tell if this is satire.
      - AdamN 5y ago
        Not a satire. I notice that people who presume government itself is incompetent haven't lived in multiple jurisdictions and seen how impactful effective government is vs ineffective government.
    - munk-a 5y ago
      As a Canadian/American dualie - I have a lot of faith in my government... now that I've emigrated to Canada - it isn't perfect but it is very good at holding itself to account. Governments in the US might still be the best places to invest to get bang for your buck - but I can certainly sympathize with people who feel distrust after the extreme levels of partisanship and neo-liberalism down there.
oDot 5y ago
I know this is an unpopular opinion, but in some areas I believe it is much better to invest the money in a sustainable business selling a product rather than giving that product away. That preserves profit and loss indicators and allows decision makers to judge the value their end users are receiving. Education can be an example of that. Making a really cheap, high quality school is much better than funding tuition in existing schools. A school that manages to retain costumers indicates that they value the school so much there's nowhere better to spend the money. However if the school is "free" they might as well just go for it even if they don't get much out of it.
- mikepurvis 5y ago
  > Making a really cheap, high quality school is much better than funding tuition in existing schools. But there are a lot of people working on this, including many who are already employing a "disruption" mindset. I think it's refreshing that her approach isn't dripping with that classic tech-boy hubris of looking for two seconds and deciding you need to reinvent, but is rather rooted in affirming and uplifting good work that's already going on, regardless of whether that work is bootstrapping new and better systems, or may well just be passing on the cash— which in many cases could in fact be the most effective thing to do with it: https://epar.evans.uw.edu/blog/long-term-impacts-cash-transfer-programs-what-does-evidence-say https://epar.evans.uw.edu/blog/long-term-impacts-cash-transf...
  - wavefunction 5y ago
    I agree with you. She seems to recognize that helping people to help themselves is a better use of the funds than trying to swoop in and "save them."
    - mikepurvis 5y ago
      It's tough because I think in some cases there really are new things that can be done, where the volume of money in question makes it logical to start over— thinking of the Gates foundation trying to tackle malaria, or address sanitation issues around toilets. But education? Inequality? These aren't ones where some random person who hasn't been thinking about it for decades is going to come up with a radically new approach.
zozbot234 5y ago
Interestingly, it looks like she has done a more than passable job at targeting her donations to maximize long-term social benefits. Even her donations to "arts and cultural institutions" (a field where the vast majority of charitable donations are mammoth exercises in wasteful frivolity) are actually targeted towards institutions operating in highly challenging community contexts, where arts and culture funding is a very plausible mechanism to jump-start development of high-quality social capital and community ties. So, a remarkably good job overall.
- mikepurvis 5y ago
  I'm really down for just funding existing organizations too. A bunch of artists in my city were livid when council approved some new $xxxk arts grant, but then it turned out that half of it was going to a new full-time position for someone to "oversee" the program. What the heck? No! There are existing groups that will happily receive the money and get it to artists, and yes, provide you accountability about where it went and what it did.
ArkanExplorer 5y ago
Instead of all these social (justice) causes, I wish these billionaires would just build out our clean energy infrastructure and lobby to destroy our fossil fuel infrastructure. Putting that $2.7b into Tesla shares would probably achieve more for the planet. Meanwhile, we continue to throw money at problematic regions and peoples of the planet, for little apparent result apart from establishing a multi-generational and potentially endless reliance of those groups on massive continued aid flows. The regions of the world where people have been truly uplifted - eg. Bangladesh and China - are the results of old-fashioned foreign investment and the hard work and adoption of Western culture and technology of the local populations and Governments, with no aid or donations in sight.
chairmanwow1 5y ago
I wonder sometimes if the marital law we have rn isn't a bit bizarre in the disbursement of half of the wealth of the "family", where 99.99% of that wealth is from one of the people. I don't imagine I'll ever be Jeff Bezos, but I would feel pretty weird if I became an independent billionaire by divorcing my wife. It's a hot topic, but I would appreciate some discussion on it.
- munk-a 5y ago
  I would agree with you that the 50/50 split is pretty bizarre and arbitrary, however allowing that much cash to accumulate in one couple's pockets is, I think, a pretty clear signal that other much larger parts of our system are fundamentally broken.
- BugsJustFindMe 5y ago
  > the wealth of the "family", where 99.99% of that wealth is from one of the people. Scott was a cofounder instrumental in getting Amazon going in the early days, not a "trophy wife". Equity is equity.
  - samatman 5y ago
    I'll take your word for that because I'm not privy to the details of early Amazon. The better way to handle that is for Scott to get actual equity which belongs to her, not to rely on divorce courts to split up assets in a way which is sometimes fair. If she had been a 'trophy wife', courts would tend to award her the same amount. HN isn't really the place to solve problems with marital law, however.
    - BugsJustFindMe 5y ago
      > The better way to handle that is for Scott to get actual equity which belongs to her She got exactly that. That money didn't change hands. It was always hers. People have just been lumping her wealth into Bezos' for years. Note "our" Amazon stock: https://twitter.com/mackenziescott/status/1113851260040503296 https://twitter.com/mackenziescott/status/111385126004050329...
pmoriarty 5y ago
While I am generally in favor of very heavy taxation of wealth rather than hoping for favors from the ultra-rich in their generous moods, I am happy that at least (unlike taxes) none of this money went to the military.
throwawayno20 5y ago
Best way to be a billionaire, pretend to give a fuck about kids by becoming a science teacher to appease the innate motherly instinct of women and marry the clueless dumb bitch who just got divorced the richest man.
throwawayno20 5y ago
I agree this is going to be hard for some to understand but there is no difference if you work hard for your money or just wait to have it handed out to by someone richer than you.
dumbkunt2 5y ago
I'm glad most HN people are defending her and not being total diks about how she got away with a bunch of money she didn't really work for.
kjhkhkjh88 5y ago
I'm glad most HN people are defending her and not being total diks about how she got away with a bunch of money she didn't really work for.
glomph 5y ago
Interesting that Scott has asked for the focus to be on the organisations not her. https://mackenzie-scott.medium.com/seeding-by-ceding-ea6de642bf https://mackenzie-scott.medium.com/seeding-by-ceding-ea6de64...

70 points by lakis 5y ago

deleted 5y ago

[deleted]

david_dan 5y ago
look bad in front of whom? Other clueless socialists? I'd rather he compound his wealth and build space platforms, invest in large climate science than try to look good in front of woke social justice warriors

RocketOne 5y ago

I think the most startling fact is that she's already remarried - that's not a lot of time to recuperate from a 26 yr marriage, start dating and remarry. Hope it all works out.

spoonjim 5y ago
I know, she didn’t even wait the customary 5 year grieving period after your husband starts carrying on a very public affair with dick pics and everything.
- deleted 5y ago
  [deleted]
deleted 5y ago
[deleted]
jordache 5y ago
most useless comment on HN of the year award?
bstar77 5y ago
She gives away "another" £2 billion and there's still room for judgement.
selykg 5y ago
Ya know... I've sort of taken the stance of "if they aren't hurting me or others, I don't really care what they do." It helps me be a lot less judgmental. Besides, often times I don't know the whole story, so who am I to judge how someone lives their life?
eptcyka 5y ago
Why do you think that matters?

AdamN 5y ago

I wish she would give to governments :-/ There are thousands of governments in the US (and many more globally). Towns, cities, counties and states and of course the federal government. Many of these governments are accountable and effective in a way that charities aren't.

adflux 5y ago
LOL Is this satire?
- gameswithgo 5y ago
  It is very easy to see that governments are flawed and imperfect, but people forget that the reason we can calmly laugh at our governments from our air conditioned homes, with clean water etc (except in Flint Michigan) is because in the context of human civilization they are incredible institutions, without which we would be roaming a mad max wasteland.
  - wyager 5y ago
    Still hard to tell if this is satire.
    - AdamN 5y ago
      Not a satire. I notice that people who presume government itself is incompetent haven't lived in multiple jurisdictions and seen how impactful effective government is vs ineffective government.
  - munk-a 5y ago
    As a Canadian/American dualie - I have a lot of faith in my government... now that I've emigrated to Canada - it isn't perfect but it is very good at holding itself to account. Governments in the US might still be the best places to invest to get bang for your buck - but I can certainly sympathize with people who feel distrust after the extreme levels of partisanship and neo-liberalism down there.

oDot 5y ago

I know this is an unpopular opinion, but in some areas I believe it is much better to invest the money in a sustainable business selling a product rather than giving that product away. That preserves profit and loss indicators and allows decision makers to judge the value their end users are receiving. Education can be an example of that. Making a really cheap, high quality school is much better than funding tuition in existing schools. A school that manages to retain costumers indicates that they value the school so much there's nowhere better to spend the money. However if the school is "free" they might as well just go for it even if they don't get much out of it.

mikepurvis 5y ago
> Making a really cheap, high quality school is much better than funding tuition in existing schools. But there are a lot of people working on this, including many who are already employing a "disruption" mindset. I think it's refreshing that her approach isn't dripping with that classic tech-boy hubris of looking for two seconds and deciding you need to reinvent, but is rather rooted in affirming and uplifting good work that's already going on, regardless of whether that work is bootstrapping new and better systems, or may well just be passing on the cash— which in many cases could in fact be the most effective thing to do with it: https://epar.evans.uw.edu/blog/long-term-impacts-cash-transfer-programs-what-does-evidence-say https://epar.evans.uw.edu/blog/long-term-impacts-cash-transf...
- wavefunction 5y ago
  I agree with you. She seems to recognize that helping people to help themselves is a better use of the funds than trying to swoop in and "save them."
  - mikepurvis 5y ago
    It's tough because I think in some cases there really are new things that can be done, where the volume of money in question makes it logical to start over— thinking of the Gates foundation trying to tackle malaria, or address sanitation issues around toilets. But education? Inequality? These aren't ones where some random person who hasn't been thinking about it for decades is going to come up with a radically new approach.

zozbot234 5y ago

Interestingly, it looks like she has done a more than passable job at targeting her donations to maximize long-term social benefits. Even her donations to "arts and cultural institutions" (a field where the vast majority of charitable donations are mammoth exercises in wasteful frivolity) are actually targeted towards institutions operating in highly challenging community contexts, where arts and culture funding is a very plausible mechanism to jump-start development of high-quality social capital and community ties. So, a remarkably good job overall.

mikepurvis 5y ago
I'm really down for just funding existing organizations too. A bunch of artists in my city were livid when council approved some new $xxxk arts grant, but then it turned out that half of it was going to a new full-time position for someone to "oversee" the program. What the heck? No! There are existing groups that will happily receive the money and get it to artists, and yes, provide you accountability about where it went and what it did.

ArkanExplorer 5y ago

Instead of all these social (justice) causes, I wish these billionaires would just build out our clean energy infrastructure and lobby to destroy our fossil fuel infrastructure. Putting that $2.7b into Tesla shares would probably achieve more for the planet. Meanwhile, we continue to throw money at problematic regions and peoples of the planet, for little apparent result apart from establishing a multi-generational and potentially endless reliance of those groups on massive continued aid flows. The regions of the world where people have been truly uplifted - eg. Bangladesh and China - are the results of old-fashioned foreign investment and the hard work and adoption of Western culture and technology of the local populations and Governments, with no aid or donations in sight.

chairmanwow1 5y ago

I wonder sometimes if the marital law we have rn isn't a bit bizarre in the disbursement of half of the wealth of the "family", where 99.99% of that wealth is from one of the people. I don't imagine I'll ever be Jeff Bezos, but I would feel pretty weird if I became an independent billionaire by divorcing my wife. It's a hot topic, but I would appreciate some discussion on it.

munk-a 5y ago
I would agree with you that the 50/50 split is pretty bizarre and arbitrary, however allowing that much cash to accumulate in one couple's pockets is, I think, a pretty clear signal that other much larger parts of our system are fundamentally broken.
BugsJustFindMe 5y ago
> the wealth of the "family", where 99.99% of that wealth is from one of the people. Scott was a cofounder instrumental in getting Amazon going in the early days, not a "trophy wife". Equity is equity.
- samatman 5y ago
  I'll take your word for that because I'm not privy to the details of early Amazon. The better way to handle that is for Scott to get actual equity which belongs to her, not to rely on divorce courts to split up assets in a way which is sometimes fair. If she had been a 'trophy wife', courts would tend to award her the same amount. HN isn't really the place to solve problems with marital law, however.
  - BugsJustFindMe 5y ago
    > The better way to handle that is for Scott to get actual equity which belongs to her She got exactly that. That money didn't change hands. It was always hers. People have just been lumping her wealth into Bezos' for years. Note "our" Amazon stock: https://twitter.com/mackenziescott/status/1113851260040503296 https://twitter.com/mackenziescott/status/111385126004050329...

pmoriarty 5y ago

While I am generally in favor of very heavy taxation of wealth rather than hoping for favors from the ultra-rich in their generous moods, I am happy that at least (unlike taxes) none of this money went to the military.

throwawayno20 5y ago

Best way to be a billionaire, pretend to give a fuck about kids by becoming a science teacher to appease the innate motherly instinct of women and marry the clueless dumb bitch who just got divorced the richest man.

throwawayno20 5y ago

I agree this is going to be hard for some to understand but there is no difference if you work hard for your money or just wait to have it handed out to by someone richer than you.

dumbkunt2 5y ago

I'm glad most HN people are defending her and not being total diks about how she got away with a bunch of money she didn't really work for.

kjhkhkjh88 5y ago

I'm glad most HN people are defending her and not being total diks about how she got away with a bunch of money she didn't really work for.

glomph 5y ago

Interesting that Scott has asked for the focus to be on the organisations not her. https://mackenzie-scott.medium.com/seeding-by-ceding-ea6de642bf https://mackenzie-scott.medium.com/seeding-by-ceding-ea6de64...