I was surprised by this. Anyone know the levels of philanthropy of Bezos vs Gates? I've ready many times of the great work and resources (money and otherwise) that Mr Gates has contributed to many causes.
A lot of rich people have decided the best thing for them to do is get as much money as they can and leave it to a worthy cause after they die. That is they spend their life investing and reinvesting, overall doing what they know best: making more money. Often it takes money to make money, and by not giving it away now when an opportunity to invest a lot of money comes up they have that money where as if they had donated it they wouldn't have it to earn more. When they die the amount they have to give is then overall much greater than if they had given away large parts of it.
I don't know that I agree with it or not, but that is the thinking and it isn't completely unreasonable.
Note that Bill Gates has been getting a lot of money from Warren Buffet and other rich people. I don't know the break down (it is likely public information: I just don't care to look it up), but it isn't fair to say Bill Gates is working on his own, though he is clearly giving his valuable time.
> A lot of rich people have decided the best thing for them to do is get as much money as they can and leave it to a worthy cause after they die.
Yeah I don't know about that. The majority of rich people decide what they want to do is make as much money as possible and distribute it to family members. It's there money so obviously they have the right to do just that.
I have a lot of respect for Bill Gates in that he has chosen to be as effective with his money as possible in positively impacting the world. I believe he has committed to giving away 99% (or 99.9%?) of his money to noble causes before he passes. As well as inspiring others to make similar pledges.
The problem with this theory is that it disregards opportunity cost. This is what I don't get about everyone that lionizes Gates and everything he has done with his billions. Those billions came from depriving others. What would those at Netscape have done with the extra billions if they hadn't been forced to sell for a fraction of what they could have become? What would those at BeOS have done with their money if Microsoft's illegal OEM deals hadn't made them fail? What would all the businesses who were forced to spend money they didn't have to on Microsoft software have done with it if it hadn't flowed to Microsoft instead?
Microsoft's business practices, in my view, introduced greater inefficiency into the software and business ecosystem. They were a parasite that drained resources from every healthy business "organism" and no amount of philanthropy can make up for the opportunity cost paid for Gates to amass his wealth.
bluGill|8 years ago
I don't know that I agree with it or not, but that is the thinking and it isn't completely unreasonable.
Note that Bill Gates has been getting a lot of money from Warren Buffet and other rich people. I don't know the break down (it is likely public information: I just don't care to look it up), but it isn't fair to say Bill Gates is working on his own, though he is clearly giving his valuable time.
BoiledCabbage|8 years ago
Yeah I don't know about that. The majority of rich people decide what they want to do is make as much money as possible and distribute it to family members. It's there money so obviously they have the right to do just that.
I have a lot of respect for Bill Gates in that he has chosen to be as effective with his money as possible in positively impacting the world. I believe he has committed to giving away 99% (or 99.9%?) of his money to noble causes before he passes. As well as inspiring others to make similar pledges.
curun1r|8 years ago
Microsoft's business practices, in my view, introduced greater inefficiency into the software and business ecosystem. They were a parasite that drained resources from every healthy business "organism" and no amount of philanthropy can make up for the opportunity cost paid for Gates to amass his wealth.
tuna-piano|8 years ago