Showing posts with label charity. Show all posts
Showing posts with label charity. Show all posts

Friday, December 4, 2015

Zuckerbergs plan to give 99% of their FB shares to charity

https://finance.yahoo.com/news/mark-zuckerberg-away-99-percent-211800451.html

We will give 99% of our Facebook shares -- currently about $45 billion -- during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others.
Small contribution - is that like humble bragging? :) All US corporations give about $15-20B/year, so Zuck can spot corporate America for like 3 years.

https://www.charitynavigator.org/index.cfm?bay=content.view&cpid=42#.Vl42q8omz9k

Maybe this is a brilliant strategic move too, because if FB prospers, then that means humanity ostensibly prospers too. So will that make people and gov'ts more friendly to FB's interests? :)

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I'm imagining a time 20 or so years from now when we find that the extremely well funded pet projects of these super rich are found to be counterproductive in those communities.  Similar to food aid to Africa destroying local food economies.  So hopefully he, and others, donate to well established orgs instead of koch style spending.

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Yeah I guess the impacts are yet to be seen. But I think Zuck will be more like Gates than Koch (btw the Gates Fdn. is generally hailed as the best run philanthropic NGO in the world). The mission is sufficiently vague/broad that they could invest in almost anything though. Maybe Zuck is already at the point in his career where he is less concerned with his business empire and more focused on "moonshot" projects and impacting humanity (like Gates circa 2000 and Page now). I don't think selling more FB ads is what fires him up every morning (or if it ever did).

On a side note, I do think that the IRS should abolish all tax incentives for charitable giving (or maybe have a very low cap on deductions like $1,000/pers and $100K per company). That might impact the total amount of giving, but at least it sends the message that rich people can't get "paid" to support their Koch-esque pet project causes that are really political spending. Also, I don't think rich donors should be rewarded for giving millions to some orchestra (whose customer base is almost exclusively rich people) or a university so their name can be on a bldg -> causes like that which have questionable overall social benefits.

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I just heard something on PRI that hasn't made it to the web yet re: Zuck's donation: http://www.pri.org/search/node?search_api_views_fulltext=zuckerberg&sort_by=field_date_published&sort_order=DESC.

As I said in the OP, it's could be a double-edged sword when stock shares are donated to NGOs, or when those orgs invest their endowments in the markets. Of course these groups would prefer to make (tax free) cap gains so they can advance their mission more, but there can be a tension between their mission and how their cap gains are generated.

The Gates Fdn. is very interested in reducing climate change, yet they own over a billion USD worth of stock in the fossil fuel sector (collecting dividends directly from the sale of a polluting product). So do you want to make money, or do you want to not support polluters? I guess that's why some universities divested from gun/fossil fuel/etc. industries in favor of "impact investing" like Gore's fund (see our prior post below, "Al Gore profits from going green"). So there could be a time when the beneficiaries of Zuck's shares may see their mission at odds with FB's business interests. At that point, what do they do? Accept the shares or say no thank you? It might not be a big deal for Zuck, because I'm sure there is a line around the block of orgs who are OK to take his shares (and what comes with it), even if it could send the wrong message or even hurt their stakeholders.
But tech companies always, without fail, do good for the world, right? :)

http://www.newyorker.com/news/john-cassidy/mark-zuckerberg-and-the-rise-of-philanthrocapitalism?mbid=social_facebook

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His fund called Generation (a tiny $12B under mgmt. but growing) is gaining attention because it only invests in ostensibly green, sustainable, ethical businesses. These businesses also happen to be outperforming their dirtier (in many senses of the word) rivals. But maybe it has less to do with ethics/cleanliness and more to do with "proper capitalism" - firms that preserve and grow value with a long-term horizon in mind (i.e. businesses that Buffet types like), not the quick buck companies at the mercy of the quarterly earnings report (to show short-run gains, they often have to sacrifice long-term value and social/environmental good).

We know that the average fund manager (even hedge funds) barely outperform passive index funds (way to earn their salaries), and most definitely don't sustain abnormal performance over time (regression to the mean). But so far Generation's global equity fund is earning 12% returns vs. 7% for index funds and traditional funds (after mgmt. fees). And Generation is one of the least volatile funds of its class, which investors also love to see. Unfortunately they won't take investors with less than $3MM to contribute. :P



Sunday, September 21, 2014

Why it's so hard to get out of poverty

The situations and constraints that the poor find themselves in often lead to short-term thinking and counter-productive behaviors. They don't do it because they're irrational and/or like being poor. Even the "self-made Masters of the Universe" (conservatives like Romney, Ryan, Hannity, Trump, etc. who blame the poor for being poor) would likely do no better in their shoes.

Also, the ludicrous propaganda that the poor somehow live large off the rest of us and strategically exploit social programs when they could be working is really backed by no statistical evidence (but of course anecdotes exist). But stereotypes like that make it easier for society to ignore/dismiss/hate the poor, against our compassionate tendencies and the teachings of virtually every religious/moral code known to man.

Saturday, June 28, 2014

Eccentric Chinese rich guy tries to give out money and make headlines in New York City

Maybe you heard about the eccentric Chinese industrialist who pulled a charity stunt in NYC?

https://www.youtube.com/watch?v=yDH4C0B956Y
http://www.cnn.com/2014/06/25/world/asia/chen-guangbiao-profile/
While it was a generous action, instead of one posh NYC lunch for 200 needy folks (assuming $30/pers), a scalable, efficient charity like Second Harvest could have delivered 12K meals (60X impact). A businessman should know better, but I guess there are no headlines in that. Chen says his "wealth is limited" and he wants to inspire other rich people to give. For the record, his net worth is above $700M, so if that is limited, I think the rest of us are in deep trouble. Also, I don't think he needs to waste a plane ride over to NYC to preach to the choir - Americans are WAY more charitable on average than Chinese (US #5 in the World Giving Index vs. China #141 on par with Rwanda). Well China considers HK (#19) and Taiwan (#52) its territory too, so in that case their aggregate giving score would be a bit higher.

http://en.wikipedia.org/wiki/World_Giving_Index#2012_rankings
In 2009, 27% of China lived on less than $2/day (roughly the population of the US), so I don't think Chen has to go overseas to seek out the needy. And China now has 3/4 as many billionaires as the US (~300 vs. ~400), so their domestic pool of potential philanthropists is large too. No need to bring your antics here.

http://en.wikipedia.org/wiki/List_of_countries_by_percentage_of_population_living_in_poverty#Countries
http://www.scribd.com/doc/131764299/Average-Net-Worth-of-Billionaires-by-Country-The-2013-Hurun-Rich-List

Saturday, January 4, 2014

Reflecting on George Lucas and Star Wars



Taking a break from politics-business events, but unfortunately no less maddening :)

The top 10 ways Lucas messed up Episodes 4-6 in his special edition ("special" clearly denoting mentally deficient in this case): https://www.youtube.com/watch?v=K0fTuPyfvho

I have the unaltered SW Eps 4-6 in .avi format if anyone wants them (low-res only, sorry), since you can't buy the original films anymore. In this case, I am happy to bootleg and "steal" from Disney and Lucas - it's morally justified like Robin Hood. I can't believe how mad I still am at Lucas for what he did to these films, and it's been over a decade haha. Well, he keeps poking us in the eye with horrible Eps 1-3 and more recently selling out to Disney.

http://www.huffingtonpost.com/2012/11/02/george-lucas-donate-4-billion_n_2067145.html

This ticked me off too... Lucas is trying to "buy his way to the good side," even if the bulk of his "charity" will likely go to the education nonprofit that he runs. Well no matter how many of his superfluous billions he gives away, it doesn't change that fact that he made that loot by raping a cherished piece of Americana, sci-fi history, and cultural identity for millions. As a friend told me, Lucas is the "best and worst thing to happen to Star Wars". I know this is an unfair comparison, but if Vlad Putin uses his own money to build an orphanage, sure that is nice of him, but it doesn't absolve his other sins. I wonder if his cognitive dissonance and Death Star-sized ego permit him to realize how unhappy he has made the fans that he once filled with emotions and wonder. That betrayal will ultimately be his legacy.

We can respect Lucas for being a smart businessman/generous philanthropist, AND acknowledge that he is a total A-hole for ruining cherished Eps 4-6 and epic failing on Eps 1-3. If he was truly generous, he would have given the SW franchise to a nonprofit fan foundation, to make sure future content stays true to the mythos. His decision to sell to the likes of Disney nullified his giving ("blood money"). So it seems clear that Lucas has done nothing good for SW or humanity since 1983. He just helped himself and his investors at the expense of a major part of US film and cultural history.

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If you're desperate for a good version of the original, you should torrent this guy's despecialized version of Ep 4-6: http://originaltrilogy.com/forum/topic.cfm/Harmys-STAR-WARS-Despecialized-Edition-HD-V25-MKV-IS-OUT-NOW/topic/12713/
Basically, he started with the Hi-Def versions that were released later, deleted all the dumb George Lucas later additions, and cleaned up some things even George Lucas missed (such as light saber colors being wrong), and remastered the sound. 

For people that have seen it, it's basically the ultimate nerd version of Star Wars; high def but true to the original (Lando shoots first!).

For the disaster of Episodes 1-3, there is always the Phantom Edit (http://starwarsfans.wikia.com/wiki/The_Phantom_Edit) which cuts out much of the crap in Episode 1. (He also made versions for 2 and 3). There's also The Editor Strikes Back, which condenses Ep 1-3 into a very watchable 85 mins: http://www.slashfilm.com/topher-grace-edited-star-wars-prequels-85minute-movie/ (shows just how much fluff and useless shit Lucas included in the Prequels really)

Even the viewing order has been challenged by fans online: http://www.nomachetejuggling.com/2011/11/11/the-star-wars-saga-suggested-viewing-order/ - basically, this guy argues the best viewing order is IV - V - II - III - VI. Now that the Editor Strikes Back has been released, I think you could make a good argument for IV (despecialized) - V (despecialized) - Editor Strikes Back - VI (despecialized) as more or less how Star Wars was meant to be experienced in a perfect world.

I guess in this day and age of Internet collaboration, there's just no way that George Lucas can try to keep sole creative control over something that nerds the world over cherish - fans will route around his ham-handed attempts to "improve" the originals.

http://www.tested.com/art/movies/384046-star-wars-despecialized-edition-remastered/

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Thx! I know I can always count on a fellow true fan for empathy and resources. Sadly I don't torrent (ignorance rather than respect for IP, LOL), but I will look into it. I found a guy on eBay who is selling unofficial DVDs of the unaltered trilogy, so I got that as a post-Xmas gift for myself. :) But mostly it's "historical record" for my daughter, so when she gets older, she will be able to experience the real SW the way we did (before Lucas and Mickey destroy all the surviving copies of the original trilogy).

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Yes, it was eating me up inside that the Ewoks in Return of the Jedi didn't have blinking eyes. That really detracted from the realism of a battle where a galactic imperial army was soundly defeated by talking care bears. Sure, the Ewoks were by far the worst part of Eps 4-6 (an early attempt at commercialization and youth targeting), but changing them now is even dumber.

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Supposedly Lucas (who is more of a merchandiser and effects wizard than a pure storyteller and filmmaker) was not happy with the state of the art in 1977, but had to keep Ep 4 on schedule, so the film released without all the cool effects that he wanted. The industry just wasn't ready for his vision. Fair enough, but since when has any work we've had to deliver under time pressure satisfied us 100%? I know Hollywood directors are infamous perfectionists, but at some point you just go with the best you have ready, and leave it at that. No "do overs" later (or leave it to the DVD bonus features at least, don't alter the original work!).

Say all that is true, and the special edition is Lucas' "true vision" for how he wanted the trilogy to look and feel. So he really believed that CG mini-Jabba, a rock in front of R2-D2, and Han shooting 2nd made the movie complete? If he "did it right" the first time in 1977, then SW would have become an even bigger hit? I call BS. He just used the special edition as an excuse to invest in more tech, showcase ILM effects, and sell more DVDs. Seriously, the changes are as if Lucas asked his 12-year-old child for advice. First off, you don't need to change what is fine, or in fact nearly perfect. Second, if you do decide to change what is already fine, then your change should at least be an IMPROVEMENT and not a distraction/detraction/joke. Like adding color to later releases of Hitchcock movies is more defensible (but still controversial to many). The feel of Eps 4-6 is of a raw, gritty, lived-in universe (apart from the sterile, polished, but oppressive imperial settings). The sharp and artificial CG fillers add no value and really hurt the mood of some scenes (like the stupid alien band in Return of the Jedi playing a kiddie song while the green slave girl was eaten). The low-IQ response to innovation/improvement is "let's just add more stuff." A shot with so much irrelevant and unimportant noise going on doesn't benefit the film, and is too much for the typical viewer to process/appreciate anyway (example from Ep 2). It's sad that so many artists had to work long hours to deliver such garbage that no one will remember. Whereas Sir Alec Guinness probably just needed a couple takes to deliver a 10-second line that became film immortality: https://www.youtube.com/watch?v=6hFWz145aJc.

Much worse are the "continuity changes", where the Eps 1-3 are clearly to blame. Vader has to yell "Nooooo!" the same way in 2 movies (even though it is not authentic and ruins both scenes). Hayden Christiansen has to have a cameo in a film that was made before he was born. Why? To give Eps 1-3 more legitimacy at the expense of the far better Eps 4-6? If Lucas thinks his audience is so dumb that they need to hear the same line or see the same face to make the mental connection across 2 movies, well that shows his respect for the audience.

But overall, I think it is totally OK that a film has certain aesthetic limitations and flaws, as long as the WRITING, ACTING, and PLOT are great (stuff that Lucas totally took for granted in Eps 1-3, or is just inept). You know, film school 101 stuff. But that is the problem when the creative process is dominated by a past-his-prime icon who is mentally lazy, unqualified, and doesn't encourage collaboration. I won't go into all the ways Eps 1-3 were horrible, and as some YT reviewers have said, they aren't even really SW films. Just because they have lightsabers, space ships, and a hero named Skywalker doesn't make them SW if they lack the signature dialogue, captivating characters, and imaginative adventure of the predecessors.

https://www.youtube.com/watch?v=dJM5Citn3rY

But going back to Eps 4-6... you don't love your partner because they're perfect or in spite of their flaws, you love that their flaws make them who they are. Most fans never lamented about a certain SW mistake, or wished a new effect was included in the films (partly because the existing effects were already so dazzling). It's fine that the stormtrooper hits his head on the door, or that the Death Star has a totally illogical vulnerability. They are barely relevant to the larger story arc, feelings, and themes, which is what stays with you years after you've seen the film. I wish modern Hollywood would stop fixating on getting everything so perfectly stunning visually, and instead invest that much effort on the truly critical parts of a good film (the mental-emotional parts!). Otherwise we will keep getting more Eps 1-3. Lucas was lucky that he leveraged the SW brand to make those crap films into huge financial successes, but not everyone can be so fortunate. Disney of all studios should know this, after John Carter and Lone Ranger. Also, what happened to "know the customer"? Aren't filmmakers in the business of pleasing audiences? It seems that too many egomaniac directors and producers just hijack films/franchises and warp them into their selfish, narrow vision. If they have a good vision, then maybe it's fine. But so many of them don't. Some films are too important to society/history to let one rich and powerful A-hole mess them up for future generations. In that sense, it's ironic that Lucas has really become the dark side emperor of the Star Wars franchise.   

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Agreed, it's inspirational. Totally funny that the poor, underground fans acting as the true custodians of the SW material are like the Rebels, and GL and his mighty LucasFilm are the empire. Life imitates art. It's even more impressive that many of them were born after the original trilogy, yet still came to love it (shows how timeless the movies are, and they live on because of the human elements, not the effects which are clearly dated by now). And as you said, their heroic efforts would be totally unnecessary if Lucas and his henchmen acted with a shred of heart. As we all know, if Lucas had full control on Eps 4-6, they would have been pretty terrible (Han with green skin, Luke and Leia as midgets, etc.). I give GL credit for the creative spark and taking chances, but he is terrible at execution (apart from some effects). 
The guy is just an out of touch, egocentric douche, so this is what we get. If you watch behind the scenes clips of him directing Eps 1-3, it's really like a senile person or child at work (or worse, a smug prick who just doesn't give a shit), but all the yes-men around him just go along with it. And can you imagine - the BTS shots that they released are the GOOD moments of his direction - I wonder how bad the bad moments were! Lucas must really hire hacks at ILM as you said. In their defense, maybe those workers are just uber fanboys who are so desperate to work on any new SW material (like a crack addict), so they will go along with any of GL's horrible ideas. In their gut they know it's wrong and bad for the franchise, but I guess they'd rather toil on a shitty project than no project at all. This is the problem when GL finances the movies himself too, there's no one else to hold him to account. At least the suits at Fox probably shot down all of GL's zany ideas during the first trilogy.

I just can't believe anyone at ILM didn't have the sack to speak out about all the superfluous scenes, shit dialogue, Jar-Jar, Noooooo!, etc. I know they must have felt it in their guts, but self-censored. You'd think some cocky kid would have spoken out, and then got canned by a miffed GL. Then he tells all to the media about how bad it is to work at ILM and how stupid GL is. But I haven't heard anything like that, have you? Or at least Portman, Neeson, or MacGregor have the clout to speak out (or are they in denial too, wanting to believe that they worked on something of value?). Maybe ILM has a strict NDA or Lucas will sue the shit out of you?
When I was younger, I longed for more SW movies too. Now with more years under my belt, I appreciate the first 3 movies even more. And I think the franchise deserved to rest in peace. No remastering, no alterations... it's not like degraded Chaplin reels from the old days. It is REALLY hard to make a blockbuster series and sustain quality throughout (look at Star Trek after #4, or Bond after Connery). Eps 4-6 were a phenomenal accomplishment - why can't they just quit while they're ahead? Same with LOTR and Hobbit. The fact that the Hobbit films are clearly worse than LOTR (and just reusing LOTR material), and Jackson chose to deviate from the spirit of the book so much, reflects the same problem as GL. Eps 1-3 did not need to be made, and in fact shouldn't have. I agree with that Sam kid on YT that it really doesn't matter how the Republic became the Empire, and how Anakin became Vader. That is the setup to Eps 4-6, nothing more. The back story is that way for a reason, it's not as interesting as the main story! That's why I think we've never really seen a superior prequel or origin story in Hollywood (maybe Batman Begins, but that was a different approach and team altogether). Actually I think it's better for all to have made Eps 7-9 instead, because then the team has free reign to craft a new storyline. I really hope the original characters don't show up at all. No one wants to see old Han. They accomplished their purpose in the story already - it doesn't matter what they do later. Unless it's like Mask of Zorro where they just pass the torch and train the next gen (minor roles only). What do you think?

Thursday, March 21, 2013

Haiti after the quake: the wrong way for the world to help

http://www.bbc.co.uk/news/world-latin-america-20949624

Haiti is the poorest nation in the Americas (their $13B GDP is the same as 1/9 of IBM) and their quake 2 years ago set them back even further. 200K died out of a nation of 10M, many were seriously injured, and 20% of Haitians were internally displaced. Tough for any nation to recover from, even a rich one.

The global community showed a great outpouring of compassion and charity, giving in total $9B of aid (cash, goods, services). But those resources were mostly a boon to foreign NGOs, not Haitians directly. It's like they got a juicy gov't contract all of a sudden. I took some classes this spring about nonprofit finance and unfortunately they are not much more noble than for-profit entities. Their #1 goal is the mission of course, but goal 1.5 is related but somewhat more selfish: justify their existence, comfortably fund their operations, and grow in revenue/prestige if possible. And of course 501(c)(3) non-profits are fully entitled to earn a tax-exempt profit (see Kaiser Permanente) - they just can't legally pass it on to employees and (nonexistent) shareholders. Like many international development projects, these well-meaning folks from the G20 arrive with their Range Rovers and lofty plans. They think they know best and they tell the locals what to do and what to ask for. Then they give themselves a pat on the back, pack up, and go home to tell great stories of their philanthropy - even if the task is not done and the sustainable impact is minor. And of course there was the scandal about Christian groups trying to smuggle out (a.k.a. rescue) "orphans" and other children back to the US.

http://www.dailymail.co.uk/news/article-1247788/Haiti-earthquake-One-Haiti-orphans-kidnapped-American-church-group-parents.html

Yes that is an overly cynical assessment. If zero aid dollars went to Haiti, clearly they'd be in far worse shape today. Volunteers and paid workers labored tirelessly to clear debris, attend to the injured, distribute supplies, feed people, and give useful advice. Lives were touched and saved. But $9B during a global recession is a lot of green, and it could have been utilized more effectively. Some economists even suggested that it would have been better to give ~$3,000 (about 2.5 years of avg. income) to each affected Haitian and let them decide how best to use it to improve their lives. Because the way it went down, about 90% of the money didn't "stay" in Haiti and was paid out to foreign orgs. Their labor and supplies stayed in Haiti, but we know that help is temporary (and Western labor is pricey) and supplies are consumed and wear out fast. People are still in tents in refugee camps 3 years later.

So instead of this expensive "reactive medicine" to hurriedly bind the wound, collect your fee, and clear out, there was no lasting, sustainable development effort. Surely it's the Haitians' fault too with their dysfunctional government and low levels of skills/education/employment. But if they could care for themselves, they wouldn't need foreign help. We can't blame the victim. And the fact that so much $ went to foreigners suggests that the funds were not efficiently allocated. Like with Iraq and countless other examples, foreigners tend to be driven by other incentives (not necessarily helping Hatians optimally), be ignorant about conditions on the ground, and the locals know better about the people's urgent needs. Haitian leaders needed more say. But we can understand that charities, like any other orgs, want to control their money (and some may feel that it is their budgetary duty to oversee expenditures). In fact, some Haiti relief funds were legally mandated to be spent on certain projects over others, even if they were ignoring more important ones. That is the "central planning" and cobweb of nonprofit finance that makes corporate taxation look trivial. 

Maybe the lesson learned from all of it is: if you want to deliver the most impact for your charity, invest in vetted local orgs who will be there for the long haul. They don't have short term objectives and short term thinking, so they will better allocate resources and deliver impact. I guess there is a chance that the money will be squandered by corrupt local thieves, but your buck could go a lot further too.