Chai with Pabrai Mohnish Pabrai’s Session with Rotary Bangalore DownTown on June 19, 2024
Jul 12, 2024
In a lively discussion, Mohnish Pabrai highlights the significance of measuring social returns in philanthropy, showcasing the Dakshana initiative that empowers underprivileged students for success at IIT. He delves into innovative educational strategies and the intersection of philanthropy and education in Bangalore. Notably, the insights on Warren Buffett’s unique donation methods and the role of digital innovations in expanding educational impact add depth. The vision to ensure no wealth is left behind truly embodies a transformative approach to giving.
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Philanthropy Lacks Market Feedback
- Philanthropy lacks a natural feedback loop to eliminate ineffective efforts unlike for-profit businesses.
- Nonprofits can exist indefinitely despite poor impact, which requires new rules for maximizing social return on investment.
Choose Measurable Causes
- Pick causes where outcome measurement is straightforward to maximize impact.
- Avoid causes that are too nebulous to measure effectively and compare.
Dakshina's IIT Coaching Success
- Dakshina identifies extremely bright, underprivileged 16-year-olds from rural backgrounds for IIT coaching.
- About 70% of their students are accepted into IITs, transforming their economic lives.