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Things you just don't get - Page 1375

post #20611 of 24087
I don't get why so many people seem to be upset about Mark Zuckerberg starting his own charitable foundation with his wife and committing to donate almost all of his FB stock to it during his lifetime.
post #20612 of 24087

because what other people do with their own lifework is apparently a matter of public debate in this day and age

post #20613 of 24087
I just get jealous. All the hard work in life and you cant even come close to what they make that they can turn around and donate 99% and still be worth 100 times what I am.

But, it is kinda crazy. The Rockerfeller and Carnegie foundations are still strong after all these years. Granted, Rockerfellers worth at current inflation would be 10 Zuckerbergs. The Gates foundation is still in its infancy as well
post #20614 of 24087
Quote:
Originally Posted by VaderDave View Post

I don't get why so many people seem to be upset about Mark Zuckerberg starting his own charitable foundation with his wife and committing to donate almost all of his FB stock to it during his lifetime.


I haven't seen the arguments but are they afraid he will use his money to push elitist center-left policies? You know like investing in education, science and the like? 

post #20615 of 24087
I think Zuckerberg is criticized for a lot of things because he's generally viewed as a douche. It isn't necessarily that people always dislike what he does
post #20616 of 24087
Quote:
Originally Posted by ethanm View Post
 


I haven't seen the arguments but are they afraid he will use his money to push elitist center-left policies? You know like investing in education, science and the like? 


that's obvious.

post #20617 of 24087
The things I have seen focus on two things:

1) He should have donated it to existing charities instead of starting his own (sour grapes, anyone?)
2) He's somehow not "really" donating it to charity--he must be doing something sneaky (and the related argument that he shouldn't be allowed to "get away" with not paying taxes on the gains from the stock he donated, because that money would solve all of our government funding woes)
post #20618 of 24087
Pshh, my GF works in the non-profit world and it sounds like family foundations are awesome if you want to retain top talent and not just bleeding heart young people who accept "good feelings" as compensation to replace their tiny salaries.

Nowadays "average" donors are super sensitive to administration costs and salaries and the like. Sure, that's because some bad charities ruined the image...but a lot of non-profits struggle with this. If your charity exists solely to funnel donations to other companies or pay out aid...then yes, you should have low overhead and most of your money should go back out the door. But what if your non-profit actually does something? Instead of just redistributing money, you design/build/implement programs...you do things that require talented staff. Instead of your "product" being dollars out the door, your product is human capital. If you want top employees, you might be able to pay a discount compared to the corporate world...but how many talented, educated, and experienced staff are you going to be able to round up if you can only pay $40k because donors stop funding you when your salary expense becomes too much of your budget. This goes double when you are talking about health or infrastructure related non-profits in the development world...medical and engineering personnel don't come cheap.

Family foundations (as well as non-profits that self fund or have corporate backing) don't have these problems. If Bill Gates' foundation wants to hire a PhD with 15 years experience in the pharmaceutical sector and give them a budget to develop a program that won't actually send any dollars out the door for a couple years...they just fucking do it. They have piles of money and they don't have to bend to the will of donors.

And its not like the family foundation can't go around giving money to other non-profits. They do it all of the time...and since they have experienced employees, they are able to make much better choices. If Zuck just wanted to give away his money to established groups, what's he going to do? Haphazardly say "I like these 10 charities, lets give them a few billion each"??? Actually doing the research and making small donations would turn into a full time job and I doubt he is looking for another one of those.
post #20619 of 24087
Quote:
Originally Posted by ethanm View Post


I haven't seen the arguments but are they afraid he will use his money to push elitist center-left policies? You know like investing in education, science and the like? 

CE that shit.
post #20620 of 24087
I know some of the heat on him is that this new foundation is set up as a standard LLC, not as a charitable foundation.

Honestly...so what? He wants to pay extra taxes in exchange for not having to follow the rules and restrictions placed on a non-profit foundation? Ok, cool, lets call that a giant charitable donation to the US Government. Maybe they can use some of it to replace our crumbling infrastructure while Gates and Buffet fix the infrastructure in Africa.

Maybe he can use it semi-nefariously to invest in companies that might do good in the world if they succeed (but will also make huge returns)...but again, so what? He's already rich as shit and could make those investments anyways. At least now he will have an organization and philanthropic staff who are trying to find opportunities to do good in the world.
post #20621 of 24087
Or maybe it's all for nefarious purposes and he's the next Bond villain. So many people think Facebook is a nefarious enterprise already, anyway
post #20622 of 24087
2 for 2 otc

Seriously though, he can do whatever he wants. A welcome change of "the world is going to hell" of everyday news. Money actually going to someone/thing needy. I cant judge him, but I can still be hella jealous.
post #20623 of 24087
Quote:
Originally Posted by jcman311 View Post

2 for 2 otc

Seriously though, he can do whatever he wants. A welcome change of "the world is going to hell" of everyday news. Money actually going to someone/thing needy. I cant judge him, but I can still be hella jealous.



Technically, you're envious. ;)

 

post #20624 of 24087
Quote:
Originally Posted by brokencycle View Post

Quote:
Originally Posted by jcman311 View Post

2 for 2 otc


Seriously though, he can do whatever he wants. A welcome change of "the world is going to hell" of everyday news. Money actually going to someone/thing needy. I cant judge him, but I can still be hella jealous.



Technically, you're envious. wink.gifWarning: Spoiler! (Click to show)
Greatest tv series evah!
post #20625 of 24087
I learned something new today. Thanks, Simpsons!
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