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Join Wall Street. Attempt to save the world through donations. End up unable to recognize what to solve. This is a pattern that all these guys do. Even Warren

Join Wall Street. Attempt to save the world through donations. End up unable to recognize what to solve. This is a pattern that all these guys do. Even Warren Buffet just gave his money to Gates. You'd think a guy who spends his life picking out successful businesses would be able to recognize this in non-profit / social ventures, but he's so removed from real problems he can't. If you want to save the world, save the world first. Stop. Fucking. Waiting.

swampthing 13y ago
The question is whether the world is better off if Buffet had taken your advice. Not clear that it would be?
- nickpinkston 13y ago
  I think it's good that he gave money to something more innovative than the Salvation Army or some such, but generally if you're taking the conservative approach to "world-saving" (working and donating), your donations don't have great leverage or relevance. It's why GM couldn't make Tesla... How many times do they go into it thinking this and just end up with a bunch of cars and naming rights to a building at Harvard at best... We see it the vast majority of the time.
  - swampthing 13y ago
    Well, I think a lot of people end up like that - but then I'd argue they're not really taking any approach (much less a conservative one) to "world-saving". They've switched their goals at that point!
    - nickpinkston 13y ago
      Sure, but that's my argument. They go into it thinking this, but the system changes their goals. I'm sure politicians think this too going in, and then the ones left are the ones who can play the donations game. Startup orgs (for- or non-profit) allow you to actually start serving people now, not later, and that gives you better insight into solving problems and picking them.
      - swampthing 13y ago
        Yea, I see your point. But I'd just point out that even with the attrition from people changing their goals, society may still be better off with having outliers like Buffet and Gates. People like Buffett and Gates enable others to start off in public service, and fund people that have insight into solving problems and picking them.
- cbr 13y ago
  We can't talk just about Buffett without considering reference classes. Before starting his career investing, Buffet didn't know he would do as well as he did.
moakakala 13y ago
> If you want to save the world, save the world first. > Stop. Fucking. Waiting. I don't understand what you're suggesting. Is Trigg (the programmer who joined Wall Street) "waiting"? What does "not waiting" look like?
- nickpinkston 13y ago
  Yes, he's waiting essentially. Not waiting looks like doing something that actually is saving the world - starting at a small scale if you have to at first. Getting to small version of the change you want to see is vastly preferable than trying to be Buffet and then starting a foundation. By then, you've lost all connection to the problems you wished to solve and the mentality of even trying to make this change. Again: Stop waiting guys! You can actually do this now and grow your little org into a great force for change.
  - moakakala 13y ago
    I don't think he's planning to start a foundation, he's donating to existing ones, like the against malaria foundation.
    - nickpinkston 13y ago
      Sure - I'm not saying it's bad. Far better than most people! It's just that it's sub-optimal if he can actually run an org to solve the problems. Especially the risk of not increasing donation size with increased conspicuous consumption. You can get soft quickly if you're not thinking lean...
      - sskates 13y ago
        How is it suboptimal? $2,500 per life saved is pretty good, let's say that's 10 lives a year for him. How could you do better than that?
        nickpinkston 13y ago
cmbaus 13y ago
It will be interesting to see what the effect of both Gate's and Buffet's donations will be. It certainly is a good that a large chuck of capital and energy is going toward improving society, but putting that much capital to work may also cause significant inflation and negate some of the benefit.
- nickpinkston 13y ago
  Inflation isn't the problem - GDP is $15T or some such, and they're investing this over time - so $150T is what they're comparing. Perhaps in niche markets they could do so. The main problems of that much money is that you get into investment mode which is more conservative, top-heavy, etc. This means it's slower, less likely to find the best innovations, and lower social-ROI. However, some problems require such capital - like what Elon Musk is working on at SpaceX, but again that's focused capital.
cbr 13y ago
"Warren Buffet just gave his money to Gates" Warren Buffet realized that a new charitable foundation wasn't needed and that by donating money through the Gates foundation he could accomplish more.

swampthing 13y ago

The question is whether the world is better off if Buffet had taken your advice. Not clear that it would be?

nickpinkston 13y ago
I think it's good that he gave money to something more innovative than the Salvation Army or some such, but generally if you're taking the conservative approach to "world-saving" (working and donating), your donations don't have great leverage or relevance. It's why GM couldn't make Tesla... How many times do they go into it thinking this and just end up with a bunch of cars and naming rights to a building at Harvard at best... We see it the vast majority of the time.
- swampthing 13y ago
  Well, I think a lot of people end up like that - but then I'd argue they're not really taking any approach (much less a conservative one) to "world-saving". They've switched their goals at that point!
  - nickpinkston 13y ago
    Sure, but that's my argument. They go into it thinking this, but the system changes their goals. I'm sure politicians think this too going in, and then the ones left are the ones who can play the donations game. Startup orgs (for- or non-profit) allow you to actually start serving people now, not later, and that gives you better insight into solving problems and picking them.
    - swampthing 13y ago
      Yea, I see your point. But I'd just point out that even with the attrition from people changing their goals, society may still be better off with having outliers like Buffet and Gates. People like Buffett and Gates enable others to start off in public service, and fund people that have insight into solving problems and picking them.
cbr 13y ago
We can't talk just about Buffett without considering reference classes. Before starting his career investing, Buffet didn't know he would do as well as he did.

moakakala 13y ago

> If you want to save the world, save the world first. > Stop. Fucking. Waiting. I don't understand what you're suggesting. Is Trigg (the programmer who joined Wall Street) "waiting"? What does "not waiting" look like?

nickpinkston 13y ago
Yes, he's waiting essentially. Not waiting looks like doing something that actually is saving the world - starting at a small scale if you have to at first. Getting to small version of the change you want to see is vastly preferable than trying to be Buffet and then starting a foundation. By then, you've lost all connection to the problems you wished to solve and the mentality of even trying to make this change. Again: Stop waiting guys! You can actually do this now and grow your little org into a great force for change.
- moakakala 13y ago
  I don't think he's planning to start a foundation, he's donating to existing ones, like the against malaria foundation.
  - nickpinkston 13y ago
    Sure - I'm not saying it's bad. Far better than most people! It's just that it's sub-optimal if he can actually run an org to solve the problems. Especially the risk of not increasing donation size with increased conspicuous consumption. You can get soft quickly if you're not thinking lean...
    - sskates 13y ago
      How is it suboptimal? $2,500 per life saved is pretty good, let's say that's 10 lives a year for him. How could you do better than that?
      - nickpinkston 13y ago

cmbaus 13y ago

It will be interesting to see what the effect of both Gate's and Buffet's donations will be. It certainly is a good that a large chuck of capital and energy is going toward improving society, but putting that much capital to work may also cause significant inflation and negate some of the benefit.

nickpinkston 13y ago
Inflation isn't the problem - GDP is $15T or some such, and they're investing this over time - so $150T is what they're comparing. Perhaps in niche markets they could do so. The main problems of that much money is that you get into investment mode which is more conservative, top-heavy, etc. This means it's slower, less likely to find the best innovations, and lower social-ROI. However, some problems require such capital - like what Elon Musk is working on at SpaceX, but again that's focused capital.

cbr 13y ago

"Warren Buffet just gave his money to Gates" Warren Buffet realized that a new charitable foundation wasn't needed and that by donating money through the Gates foundation he could accomplish more.