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@5% average yearly return, Bill Gates + Warren Buffet could do this for 8 million people a year, every year, forever, and not eat a cent into their initial capi
by brador 11y ago
@5% average yearly return, Bill Gates + Warren Buffet could do this for 8 million people a year, every year, forever, and not eat a cent into their initial capital.
For scale: that's the population of Switzerland.
- Beltiras 11y agoGates&Buffet are both very invested in philanthropy and extremely data oriented. If they were made aware by someone they actually listen to, they just might do it.
- criley2 11y ago8 million is not a lot. There are >7000 million people in the world. It takes the two richest people to provide for 0.0022% of the people on the planet. Too high of a cost for too low of a return. I believe those men think they can solve more than 0.0022% of a problem with their fortunes.
- brador 11y agoMoney doesn't vanish into a black hole. It flows. Those 8 million will no longer have to worry about feeding themselves, educating their children, paying their rent. They can create. A % will create businesses to take advantage of the money flow, supporting themselves and their communities, paying taxes, jobs, export. Over a single generation you could move from 5% literacy to 95%, for 8 million families. That's a lot of kids and a lot of creators. Fewer babies next gen too if history is right. Those 8 million will essentially have their greatest fears and worries removed and replaced with joy and freedom. Just imagine the possibilities.
- oldmanjay 11y ago>Those 8 million will essentially have their greatest fears and worries removed and replaced with joy and freedom. well, for a while. then the money runs out.
- Retric 11y agoI don't think you need to do this for the same family next year. 8 people per year * 20 years = 160 Million people. Also, the example was a family of 4 which would bump it to 640 Million. PS: Those 7000 million people include plenty of people that are doing just fine.
- StephanTLavavej 11y ago8/7000 is 0.11%.
- deleted 11y ago[deleted]
- reagency 11y ago8million people is 0.11% of 7Billion, that's an excellent roi for 2 people
- syllogism 11y agoGates and Buffet will know all about GiveDirectly, and direct cash transfers more broadly. GiveDirectly was the GiveWell recommended charity for most of last year. Effective altruism is a relatively small space, and GiveWell is very prominent in it.