A few thoughts on philanthropy from one of my lib-tard heros:

"When wealth becomes a substitute for participation, giving is reduced to performance art—proof of virtue, a way to appear magnanimous while still demanding ownership. Recipients become props in donors’ narratives, rather than agents of change. Problems get framed around donors’ interests instead of people’s needs. Solutions start to serve personal recognition instead of results...That’s the quiet corruption corroding modern philanthropy: the ability to give as a license to impose one’s will. It’s a kind of moral laundering, where so-called benevolence masks self-interest."

"Real progress happens from the ground up. It’s built through proximity, trust and endurance—in classrooms and clinics, in small businesses and neighborhood coalitions, in the people who stay long after the cameras move on. These are the citizens who hold communities together: teachers, nurses, organizers, small-business owners, the quiet network of people who repair what they can reach...Philanthropy can and should stand with them, but only when its place is clear—when it remembers what it is and what it isn’t. Money can open doors, but it can’t speak for a community or dictate its future. Lasting change happens when the people already doing the work have the tools and trust to lead and shape what comes next."

Having spent 40 years in philanthropy, personally and professionally, I agree with much of this. It's the"capitalist" version of philanthropy, where the donor and how they made their money is more important than the recipient and how they will use it. IMHO it is unlikely to change.

Unlocked article: wsj.com - Laurene powell jobs beware of philanthropists who want control in exchange for their giving

P.S. Warren Buffet takes a different approach. No control. But also very little due diligence - he has others do his giving for him. Not in his circle of competence lol. Charlie Munger, OTOH exercised a lot of control with his giving, and it caused some problems. Soros and Druckemiller have different approaches to philanthropy. So do Steinhardt and Mercer. Not sure about Gates and Ballmer.

Onward!

abromber