On this episode we talk to Teddy Schleifer, Senior Reporter, Money & Influence at Recode (part of the Vox Media group), about billionaires, Silicon Valley and philanthropy. Including:

Silicon Valley Philanthropy

• Do most tech billionaires see their wealth as “self-made”, or do they recognise any sense of societal debt, luck etc? How does this shape their giving?
• How does the wider public view the philanthropy of modern tech billionaires?
• Are tech donors particularly prone to solutionism or a desire for “moonshots” in their philanthropy?
• Are many big tech donors happy with the idea of giving away power as well as money? Or are they likely to want to retain control of decision-making about their philanthropy? Does this make them any different to other big money donors?
• Are donors like Mackenzie Scott, who seem to be trying to shift power as well as financial resources through her philanthropy, merely outliers; or do they signal a wider trend?

Reporting on Philanthropy

• Why is it important to have journalists focussing on philanthropy?
• How do you balance focussing on the individual stories of philanthropists vs systemic issues about philanthropy as a whole?
• Is there an argument for more philanthropic funding of journalistic scrutiny of philanthropy?
• Could increased philanthropic funding of news media actually undermine journalism’s ability to hold philanthropy itself to account? (E.g. if outlets self-censor to avoid upsetting existing or potential patrons).

Critiques of Philanthropy

• Is there a danger that scrutiny can tip over into cynicism when it comes to philanthropy?
• Should we worry that the growing wave of scepticism, and even cynicism towards philanthropy, will have a negative impact on people’s willingness to give?
• Of the current critiques levelled at philanthropy, which are potentially misguided or overstated, and which are genuinely important to heed?
• Do these critiques only really apply to big money/elite philanthropy?

Transparency in Philanthropy

• Do wealthy donors deliberately use philanthropy to deflect or preclude criticism of their business dealings, tax affairs etc, or are reputational benefits merely a side-effect of genuinely altruistic behaviour in some cases?
• Do foundations (and donors) need to be more transparent? If so, why and about what? Who does it benefit (the foundations themselves, their donors, grantees, taxpayers etc.)
• Should we be concerned about the growing trend for elite donors to use LLCs and other vehicles that may be less transparent?

Related Links

• Some of Teddy’s Recode articles:
  • “What Americans really think about billionaires during the pandemic”
  • Jeff Bezos will spend $1 billion a year to fight climate change
  • America’s billionaire philanthropists gave away more during the pandemic. But there’s a catch
  • MacKenzie Scott, the Amazon billionaire, is giving away $1 billion a month to charity
  • Jeff Bezos plays it safe on his $10 billion climate giveaway
• CAF Giving Thought podcast on “Mackenzie Scott and the Reimagining of Philanthropy”.
• CAF Giving Thought podcast on “Jeff Bezos, Big Philanthropy and Climate Change”
• Rhod’s 2020 Alliance article “Bezos’ $10bn donation should not pitch philanthropy and taxation against each other – that would be a zero-sum game”
• Rhod’s 2018 Alliance article “Philanthropy should fund the media for its own sake”