Akimbo: A Podcast from Seth Godin Bill Gates has a problem
Oct 23, 2019
The podcast dives into the challenges of the Giving Pledge, exploring why billionaires are slow to donate despite mounting social needs. It scrutinizes the dynamics of philanthropy, questioning the impact of large donations to elite institutions. The conversation shifts to the intersection of capitalism and charity, addressing issues like homelessness and climate change. Additionally, it advocates for innovative thinking in non-profits and the importance of diversity in recruitment. Finally, it shares insights on freelancers seeking better clients for enhanced creative fulfillment.
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The Giving Pledge's Growth Problem
- Bill Gates and Warren Buffett created the Giving Pledge to encourage billionaires to give away half their wealth.
- Yet, most signatories give only about 1.2% annually, not enough to meet the pledge given asset growth.
Disconnect in Billionaire Giving
- Billionaires often spend hundreds of millions on college sports but comparatively little on global health issues.
- This reveals a disconnect between grand charitable commitments and actual giving priorities.
Status Drives Big Donations
- Donations mostly go to hospitals and prestigious colleges known for status rather than cost-effectiveness.
- Philanthropy is often driven by status and scarcity, not impact or efficiency.