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I don't see this as the purchaser making a charitable contribution. Rather, it is Tim Cook making the charitable contribution by giving his time. Think of it
by k2enemy 13y ago
I don't see this as the purchaser making a charitable contribution. Rather, it is Tim Cook making the charitable contribution by giving his time.
Think of it this way -- if GM donated a Corvette to a charity to auction off, the winner of the auction is buying a Corvette, not giving to charity. It is GM that made the charitable contribution.
- jjoonathan 13y agoThe problem with the Corvette analogy is that the Corvette has a well defined market price. GM's donation to charity is exactly equal to that price and the difference between the auction price and the market price is the contribution from the auction winner, who is only willing to pay 2x, 3x, 10x because the proceeds are going to charity. Tim Cook's time does not have a well defined marginal price since his compensation package is almost surely not tied to the amount of time he works.