Elon Musk: It is difficult to give money away effectively if you care about outcome..

Damocles

Damocles

Accedo!
Staff member
Elon Musk says it's 'very hard to give away money effectively' if you care more about the outcomes than the optics of philanthropy

Elon Musk is the richest person in the world, but he says it's still hard to give away money to do good.

"When it comes to donations, I'd say it is very difficult to give away money effectively," Musk said in a recent conversation with Mathias Döpfner, the CEO of Insider's parent company, Axel Springer.

When asked about the goals of his foundation, Musk said he cares more about the outcomes, not optics, of philanthropy. This, he says, makes it harder for him to give away money "effectively."

"If you care about the reality of doing good and not the perception of doing good, then it is very hard to give away money effectively," he said. "I care about reality. Perception be damned."

More at link...

https://www.businessinsider.com/elo...jRWJTlxI6GmPbkOiSTK7taXpyQYKvr7fexdXVe5wAfIxc
 
I can't pretend to know what it's like to give away millions, or tens or hundreds of millions, but what he says makes sense to me. On one hand you'd think anyone who gives away that type of money cares about the outcome but then again maybe he's right that the optics are more important to some because its an ego thing.
 
It is my first consideration when giving away money. It is important to me that the money gets to the folks I want to help rather than line the pockets of folks running the "organization" or for ads. I give away less money, because I have less, therefore I want it to have the best impact it can. I spend a LOT of time researching the organizations to which I donate money.
 
I agree with the 'optics' part of the Philanthropy. After a life of being a ruthless Capitalist, it would be nice to have multitudes praise you at your Death.
 
Damocles said:
It is my first consideration when giving away money. It is important to me that the money gets to the folks I want to help rather than line the pockets of folks running the "organization" or for ads. I give away less money, because I have less, therefore I want it to have the best impact it can. I spend a LOT of time researching the organizations to which I donate money.
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Most of us who regularly donate to various organizations do the same thing. Therefore, if nobodies like us can do it -- why can't the richest guy on the planet instruct his staff to do it as well? It's not that hard.
 
Damocles said:
Elon Musk says it's 'very hard to give away money effectively' if you care more about the outcomes than the optics of philanthropy

Elon Musk is the richest person in the world, but he says it's still hard to give away money to do good.

"When it comes to donations, I'd say it is very difficult to give away money effectively," Musk said in a recent conversation with Mathias Döpfner, the CEO of Insider's parent company, Axel Springer.

When asked about the goals of his foundation, Musk said he cares more about the outcomes, not optics, of philanthropy. This, he says, makes it harder for him to give away money "effectively."

"If you care about the reality of doing good and not the perception of doing good, then it is very hard to give away money effectively," he said. "I care about reality. Perception be damned."

More at link...

https://www.businessinsider.com/elo...jRWJTlxI6GmPbkOiSTK7taXpyQYKvr7fexdXVe5wAfIxc
Click to expand...

Agreed with Musk. Just throwing money at a money isn't always efficient or even beneficial. In some ways it's like trying to spot reduce fat on one's body: hard to do.

People gain and lose fat in reverse order. Losing fat requires a system solution, not just a targeted attack. Solving social ills are similar.

Unfortunately, too many people are impatient and, in America, the result is often one group attempting the targeted attack solution and the other group saying it's useless to even try. Neither of which actually helps solve the problem.
 
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cawacko said:
I can't pretend to know what it's like to give away millions, or tens or hundreds of millions, but what he says makes sense to me. On one hand you'd think anyone who gives away that type of money cares about the outcome but then again maybe he's right that the optics are more important to some because its an ego thing.
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no

only a greedy person needs all that unearned stolen money he should be jailed!
 
Damocles said:
It is my first consideration when giving away money. It is important to me that the money gets to the folks I want to help rather than line the pockets of folks running the "organization" or for ads. I give away less money, because I have less, therefore I want it to have the best impact it can. I spend a LOT of time researching the organizations to which I donate money.
Click to expand...
I do as well, same reasons.
 
Damocles said:
Elon Musk says it's 'very hard to give away money effectively' if you care more about the outcomes than the optics of philanthropy

Elon Musk is the richest person in the world, but he says it's still hard to give away money to do good.

"When it comes to donations, I'd say it is very difficult to give away money effectively," Musk said in a recent conversation with Mathias Döpfner, the CEO of Insider's parent company, Axel Springer.

When asked about the goals of his foundation, Musk said he cares more about the outcomes, not optics, of philanthropy. This, he says, makes it harder for him to give away money "effectively."

"If you care about the reality of doing good and not the perception of doing good, then it is very hard to give away money effectively," he said. "I care about reality. Perception be damned."

More at link...

https://www.businessinsider.com/elo...jRWJTlxI6GmPbkOiSTK7taXpyQYKvr7fexdXVe5wAfIxc
Click to expand...

Heyy! I like this guy! :good4u:
 
cawacko said:
I can't pretend to know what it's like to give away millions, or tens or hundreds of millions, but what he says makes sense to me. On one hand you'd think anyone who gives away that type of money cares about the outcome but then again maybe he's right that the optics are more important to some because its an ego thing.
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That's most likely the case more often than not.

Ronald McDonald House is a good charity.

Black Lives Matter tried to barricade them and the caretakers in one of them and burn them all alive.

https://pjmedia.com/news-and-politi...ed-sick-kids-at-ronald-mcdonald-house-n782973

And if you think those riots weren't sponsored and organized by the left? You're not very smart.
 
What a load of shit.

I was actually (for one year) the Chairman of a small/medium-sized philanthropic group.

You can give away ALL the money you wish anonymously if you REALLY want to.

He is whining about nothing...and (surely) he knows it.
 
Damocles said:
Elon Musk says it's 'very hard to give away money effectively' if you care more about the outcomes than the optics of philanthropy
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I am not taking a side, or more exactly, I think both sides are right to some extent, but there is a second school of thought on this. The new thinking of the current crop of billionaires is that you need metrics on every part of your charitable. By micromanaging every aspect, you make sure the giving does not go to waste. On the bright side, you are making the charity stronger through your entrepreneurial experience. On the not so bright side, charities end up hiring dozens of compliance staff just to put together numbers, that you need to hire hundreds of people just to read through the compliance reports. It becomes a whole bureaucracy.

Melinda Gates decided to turn that on its head. She picks good people who do good work, and just gives them the money. She tells them to do good things with the money. She does require a yearly report on how the money is spent, but requires that report to be less than a single page. Seriously, she will cut funding if they go over a page in length. It is not stressing the charity with a lot of reporting work.

The down side is what if the "good people who do good work" are not good people? Are even more possible, they are unknowingly not doing good work?

At first you would see this as the new way of giving, and the even newer way of giving, but then you realize these same two competing strategies goes back thousands of years.
 
McRocket said:
What a load of shit.

I was actually (for one year) the Chairman of a small/medium-sized philanthropic group.

You can give away ALL the money you wish anonymously if you REALLY want to.

He is whining about nothing...and (surely) he knows it.
Click to expand...

Musk got to where he is today by micromanaging, and personally controlling. He can give out all the money to other people to control he wants... But he does not want to do that. He wants to know for sure he controls what it goes to.

Many religious people (from any religion), will just hand over their charitable giving to the religion to take care of the details. They will even hand over their time to the religion to use for charity. They will trust the religion to figure out all the details, and will not ask any questions. That is NOT Musk.
 
Walt said:
Musk got to where he is today by micromanaging, and personally controlling. He can give out all the money to other people to control he wants... But he does not want to do that. He wants to know for sure he controls what it goes to.

Many religious people (from any religion), will just hand over their charitable giving to the religion to take care of the details. They will even hand over their time to the religion to use for charity. They will trust the religion to figure out all the details, and will not ask any questions. That is NOT Musk.
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Pretty much everybody expects the charity to take care of the details, that is the purpose of charities.

You are really laying the Bull Shit on thick this morning.
 
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