Why I am against those billionaires pledging to give away the majority of their wealth

Philanthropy has a low ROI.

They should rather put their money in a VC fund, and invest it in promising ventures, lead by visionaries.

Addendum: WSJ

UPDATE: See Peter Thiel’-s “-Audacious Optimism”- event.

Bill Gates, Warren Buffett, and all the Giving Pledge billionaires, should rather do what Peter Thiel does -go investing their cash and/or (liquidated) fortune in futuristic projects. – [VIDEO]

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”-.

Peter Schiff on Wall Street, US dollar, US Treasury bonds, China, Barack Obama, US economy, US jobs, US housing market, US tax credits, US student loans, Warren Buffett, Bill Gates, America, capitalism, assett bubbles, US bailouts, Ron Paul, gold standard, paper money, our Founding Fathers, etc.

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Peter Schiff (November 13, 2009):

Peter Schiff (November 9, 2009) on US dollar carry trade:

http://en.wikipedia.org/wiki/Peter_Schiff

He is running for US Senate:

http://schiffforsenate.com/

WARREN BUFFETT: I said that the US dollar might be worth less in five to ten years -not that it might be worthless.

No GravatarHilarious. Right-click on the image to open the link in another tab. Enjoy.

Dollar Buffett

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