Philanthropy has a low ROI.
They should rather put their money in a VC fund, and invest it in promising ventures, lead by visionaries.
This morning, I wrote that I disaprove Bill Gates and Warren Buffett’-s Giving Pledge operation, because I rather favor billionaires investing in young startups lead by visionaries. Well, just after the publication of that post, I stumbled on the “-Audacious Optimism”- event, which satisfies my request.
The Thiel Foundation is encouraging philanthropists to donate more money to scientific pursuits that could lead to big breakthroughs in medicine, artificial intelligence, and nanotechnology, among other fields.
Note that Peter Thiel draws a distinction between “extensive” technologies, which “take things that are working and replicate them”-, and “intensive” technologies, which try to “take the things that are best in the world and make them qualitatively and dramatically better”-.
Ben Lewis: “-Great works of art are still being made today but the great contemporary art bubble will surely go down in history as the epitome of the vanity and folly of our age.”-
I highly recommend you watch this 2009 documentary.