The stunning announcement of >$6B in philanthropic donations in one year by @mackenziescott deserves wider

Fine piece by @nkulish in the @nytimes that addresses some of the key issues.

https://t.co/UCvUCT9rru
But this should be just the start.

Important first to put the $6B total in context. Total grantmaking in 2019 by @darrenwalker at the @FordFoundation was ~$350M. Total at @Hewlett_Found was ~$450M.

So @mackenziescott is ~15x some of the largest and most discussed foundations.
To the best of my knowledge, what we know about her philanthropy stems from a total of two posts on @Medium.

No address. No website. No known staff. We don't even know much about the entities she's using -- DAFs, LLCs, private foundation?

https://t.co/y4kLry4XOT
What's interesting about her philanthropy?

*Proves it's not that difficult to give away a billion dollars.
*No strings attached giving - all general operating support over multiple years
*No reporting requirements, AFAIK
The anti-paternalist, non-technocratic approach is a refreshing counterpoint to prevailing trends. Nevertheless, her arrival as one of the largest and most important philanthropists means that she is wielding considerable power. And that power deserves our scrutiny.
Big philanthropy is the conversion of private assets into public influence. It is an exercise of power by the wealthy. It is a plutocratic element in a democratic setting.

Her preferences, and hers alone, determine a flow of $6b into American civil society.
And apparently there's much more to come.

Despite the astonishing ~6B in giving, she's almost certainly far wealthier at the end of 2020 than she was at the start. Amazon stock's value has soared.
True, she's under no legal obligation to be transparent. But that's a failure of our public policies. And of our expectations of philanthropists.
Directing scrutiny at philanthropists need not mean a default skepticism of their aspirations. It means that we citizens deserve the opportunity to assess the goals and strategies of big philanthropy.
One reason is that philanthropy with tax breaks. We subsidize @mackenziescott's DAF via forgone tax revenue.

Contrary to popular opinion, philanthropy is not the exercise of liberty to give away your own money. It's a tax-subsidized exercise of liberty.
But the more fundamental reason is that she enjoys $6B of funding power, with much more to come, as a signatory of the Giving Pledge.
One of the great chroniclers of such power is @AnandWrites. Any random dip into his timeline will afford a good example.

Here's the latest: https://t.co/tQ0aYrq59z
And beyond all these questions of philanthropy, there are even more foundational concerns about whether anyone should have a fortune of $30+ billion dollars in the first place.
Attitudes about philanthropy are changing. @mackenziescott is providing an example about how to do it differently. And public attitudes are changing too, moving beyond default gratitude for any charitable impulse.
Let 2021 bring more journalism and broader discussion of all kinds of philanthropy.

People to follow: @Philanthropy @InsidePhilanthr @AnandWrites @nkulish @SSIReview @HistPhil @Philliteracy @p2173

More from Society

So, as the #MegaMillions jackpot reaches a record $1.6B and #Powerball reaches $620M, here's my advice about how to spend the money in a way that will truly set you, your children and their kids up for life.

Ready?

Create a private foundation and give it all away. 1/

Let's stipulate first that lottery winners often have a hard time. Being publicly identified makes you a target for "friends" and "family" who want your money, as well as for non-family grifters and con men. 2/

The stress can be damaging, even deadly, and Uncle Sam takes his huge cut. Plus, having a big pool of disposable income can be irresistible to people not accustomed to managing wealth.
https://t.co/fiHsuJyZwz 3/

Meanwhile, the private foundation is as close as we come to Downton Abbey and the landed aristocracy in this country. It's a largely untaxed pot of money that grows significantly over time, and those who control them tend to entrench their own privileges and those of their kin. 4

Here's how it works for a big lotto winner:

1. Win the prize.
2. Announce that you are donating it to the YOUR NAME HERE Family Foundation.
3. Receive massive plaudits in the press. You will be a folk hero for this decision.
4. Appoint only trusted friends/family to board. 5/

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1/“What would need to be true for you to….X”

Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?

A thread, co-written by @deanmbrody:


2/ First, “X” could be lots of things. Examples: What would need to be true for you to

- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal

3/ Normally, we aren’t that direct. Example from startup/VC land:

Founders leave VC meetings thinking that every VC will invest, but they rarely do.

Worse over, the founders don’t know what they need to do in order to be fundable.

4/ So why should you ask the magic Q?

To get clarity.

You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.

It also holds them (mentally) accountable once the thing they need becomes true.

5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”

Multiple responses to this question are likely to deliver a positive result.
🌺कैसे बने गरुड़ भगवान विष्णु के वाहन और क्यों दो भागों में फटी होती है नागों की जिह्वा🌺

महर्षि कश्यप की तेरह पत्नियां थीं।लेकिन विनता व कद्रु नामक अपनी दो पत्नियों से उन्हे विशेष लगाव था।एक दिन महर्षि आनन्दभाव में बैठे थे कि तभी वे दोनों उनके समीप आकर उनके पैर दबाने लगी।


प्रसन्न होकर महर्षि कश्यप बोले,"मुझे तुम दोनों से विशेष लगाव है, इसलिए यदि तुम्हारी कोई विशेष इच्छा हो तो मुझे बताओ। मैं उसे अवश्य पूरा करूंगा ।"

कद्रू बोली,"स्वामी! मेरी इच्छा है कि मैं हज़ार पुत्रों की मां बनूंगी।"
विनता बोली,"स्वामी! मुझे केवल एक पुत्र की मां बनना है जो इतना बलवान हो की कद्रू के हज़ार पुत्रों पर भारी पड़े।"
महर्षि बोले,"शीघ्र ही मैं यज्ञ करूंगा और यज्ञ के उपरांत तुम दोनो की इच्छाएं अवश्य पूर्ण होंगी"।


महर्षि ने यज्ञ किया,विनता व कद्रू को आशीर्वाद देकर तपस्या करने चले गए। कुछ काल पश्चात कद्रू ने हज़ार अंडों से काले सर्पों को जन्म दिया व विनता ने एक अंडे से तेजस्वी बालक को जन्म दिया जिसका नाम गरूड़ रखा।जैसे जैसे समय बीता गरुड़ बलवान होता गया और कद्रू के पुत्रों पर भारी पड़ने लगा


परिणामस्वरूप दिन प्रतिदिन कद्रू व विनता के सम्बंधों में कटुता बढ़ती गयी।एकदिन जब दोनो भ्रमण कर रहीं थी तब कद्रू ने दूर खड़े सफेद घोड़े को देख कर कहा,"बता सकती हो विनता!दूर खड़ा वो घोड़ा किस रंग का है?"
विनता बोली,"सफेद रंग का"।
तो कद्रू बोली,"शर्त लगाती हो? इसकी पूँछ तो काली है"।