The Intelligence from The Economist Give fast, spry young: the new philanthropists
Feb 17, 2023
Avantika Chilcotti, an international correspondent for The Economist, delves into the evolution of philanthropy driven by today's tech elite. She highlights how young investors are reshaping charitable giving with data and administrative ease. The conversation also introduces Tomas, an inmate making waves in day trading, revealing a fresh perspective on economic success behind bars. Additionally, the emotional narrative of Maya Widmaier-Picasso emphasizes her unique bond with her father, adding depth to the discussion on legacy and creativity.
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Tech's Influence on Philanthropy
- The super-rich in Silicon Valley are disrupting philanthropy, mirroring tech's disruption of other sectors.
- This new philanthropy is fast, data-driven, and less bureaucratic.
Past Philanthropy
- Past philanthropists like Carnegie and Rockefeller established foundations late in life.
- They employed advisors and aimed for long-lasting impact, a model now challenged by tech's approach.
The Silicon Valley Mindset
- Silicon Valley's culture of "move fast and break things" influences young philanthropists' impatience.
- David Goldberg, CEO of Founders Pledge, encourages entrepreneurs to donate through peer pressure.