Hacker News Reader

Comment by RataNova | Hacker News Reader

You don't have to love Gates or everything the foundation does to recognize that putting billions toward global health and poverty is way better than setting up a dynasty or letting it sit in investments

View on HN

Foundation is a way to set a dynasty! Just look at all the robber baron foundations out there.

Some foundations have been used that way, no doubt. But I think there's a difference between setting up a tax shelter with vague goals and actively committing to spend down the entire endowment in a specific timeframe

True. Actively committing to spend down the entire endowment in a specific timeframe does not mean it is not used create a dynasty.

In the 50's the Congress in US was getting suspicious about those foundations already. There were a investigation for it:

https://en.wikipedia.org/wiki/United_States_House_Select_Com...

> letting it sit in investments

Depends on investments. Arguably tech advances are more effective for alleviating hunger than direct food donations long term.

When though? When is it enough to be used for something good?

I think the ideal is a mix: fund near-term needs like healthcare and food access and invest in the systems and tools that prevent future crises

What companies would you invest in if you had a billion dollars and wanted to reduce global hunger?

Anything in energy production, manufacturing, or bioresearch. Probably add education in these areas as well.

> letting it sit in investments

I havent looked, and frankly can't be bothered [0], but I expect that even after giving away an unfathomable amount of money, the foundation and gates are probably richer (dollar net worth) than they have ever been.

It has been sat in investments, they have been giving it away, but they can't keep up with it.

[0] Turns out I could be - https://www.bloomberg.com/billionaires/profiles/william-h-ga...

Reply on news.ycombinator.com