Headline, June 29 2024/ ''' WORLDS' PLEDGING WONDERS '''

''' WORLDS' PLEDGING

 WONDERS '''

'' WE ARE ALL IN THE GUTTER, but some of us are looking at the stars''. Only the genius of esteemed Oscar Wilde could sum up the world affairs for the beginning of this master post.

WHAT the Global Founder Framers of The World Students Society, and the students of the entire planet, PLEDGE to give, help and share in building a better world, would ultimately determine the fate of its peoples and the quality of life on mother earth in entirety.

'' GIVING IS A SPLENDID GESTURE ''. WHEN ANDREW WHITE first sold a chunk of his business in 2021 - he knew he wanted to give some of the proceeds away. Indeed, he hopes to give over $20 million to charity.

BUT Mr White was still busy running FundApps, a compliance-monitoring service for investors. That left little time to read upon development economics or scout charity rankings.

The model that big-name philanthropists have followed for generations - setting up a private foundation and hiring a team to run it - was out of the question.

Mr White gave the money to Founders Pledge, a British charity with more than 1,700 members in 39 countries.

He told Founders Pledge, he would like the cash to go to education and poverty relief in poor countries, then left the researchers to sort out the details.

Mr. White is part of a new class of philanthropists very different from those that went before. They are often young, impatient with process and detail and keen to make a difference in a hurry. Most made their money in the software and computing industry that has, since the turn of the century, been the world's great engine of wealth creation.

Along with their money comes their industry's worldview. '' I was reading Wired, not the Chronicle of Philanthropy,'' says Scott Harrison, the founder of charity : water, which aims to give clean water to everyone on the planet.

NO ONE has more money to give away than the tech tycoons. Forbes, a magazine which tracks such things, reckons that 26 of the 100 richest people in the world in 2022 made their money leading technology firms of various sorts, including seven of the top ten.

They are even more dominant when it comes to giving that money away. The Chronicles of  Philanthropy estimates that, of the $33.4 billion given away by America's 50 biggest donors in 2021, around three-quarters came from people who made their money in tech.

Bain & Company, a consultancy, reckons that tech magnates hold about 8% of the total wealth of India's super-rich, but account for about 35% of the charitable giving.

That tide of money carries with it the culture and worldview of the industry that created it. Tech has spent the past two decades disrupting everything from shopping to television. Charitable giving, it seems, is next.

To see just how different the newcomers are, compare them with their best known forebears. The grandfathers of modern philanthropy are American industrialists like Andrew Carnegie, Henry Ford and John D. Rockefeller.

They created foundations that would outlive them, employed high quality advisers, and were prepared to dish out funds for decades to achieve their goals.

THAT MODEL was tweaked at the turn of the millennium. Businessmen and venture capitalists began thinking about charitable donations like hard-nosed investments. Recipients were ranked by which offered the most charitable bang for each buck.

The impact of every dollar was measured, and, if a project failed to deliver its expected '' social return '', funding was cut. The standard-bearer for that approach was the Bill and Melinda Gates Foundation, started by the founder of Microsoft and his then wife in 2000.

It has spent its money, among other things, on malaria prevention, improving access to clean water, and pushing to complete the worldwide eradication of polio.

To the newer generation of philanthropists, raised in a business culture that prizes getting to market and scaling quickly over cautious planning, all this appears unbearably stodgy.

Nickhil Jakatdar is a serial entrepreneur from India who now lives in California, and who now gives away between $300,000 and $500,000 each year. 

In 2021 he approached the Gates Foundation  seeking funding for a not-for-profit medical firm. The foundation's generosity was impressive, Mr Jakardar says. But he found the paper-pushing so off-putting that he did not apply.

'' The Gates Foundation taught me what I don't want to be.''

MacKenzie Scott, the ex-wife of Jeff Bezos, the founder of Amazon, became a role model for the new approach when she dished out over $14 billion in a little over three years, starting in 2019. Ms. Scott did not dispense with analytics entirely. Instead, she front-loaded them.

She appointed consulting firms to crunch the numbers and pick worthy recipients, which included Habitat for Humanity International, whose volunteers have built homes in Haiti and Bangladesh, and the Desmond Tutu Health Foundation, which is based in CapeTown.

The gifts were mostly given without conditions, with the charities trusted to make the best use of money. Ms Scott has called her approach '' seeding by ceding''. 

The Honour and Serving of the Latest Global Operational Research on Philanthropy, Techno-philanthropy 3.0 continues in the next publishing. The World Students Society thanks  The Economist.

With most respectful dedication to Global Philanthropists, Great Humans, Global Founder Framers of The World Students Society - the exclusive and eternal ownership of every student in the world - and then Parents, Students, Professors and Teachers.

See You all prepare for Great Global Elections on !WOW! : wssciw.blogspot.com and Twitter X !E-WOW! - The Ecosystem 2011 :

Good Night and God Bless

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