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Around 2 months ago Mark Zuckerberg and his wife Priscilla Chan announced a major shakeup to their pledged goal of donating 99% of their Facebook shares within their lifetime to their foundation…
This made a lot of people very angry and was widely considered a bad move…
The focus of the controversy was the fact that the business leaders would be moving their foundations attention away from social issues and towards (in their own words) “going all in on AI-powered biology for our next chapter.”
Sooo yeah… a man whose company is going all in on AI investment, and has said he really wants to live forever, is channeling his charitable work, almost exclusively towards… AI that will help people live forever.
Now people can (and should) be able to put their money towards whatever they think is important, but of course the problem here is that this little pet project is going to have “questionable” real world benefits for most people, while simultaneously omitting serious tax revenue.
Now despite the (unflattering) headlines (and understandable backlash), the Zuck is actually far from the worst offender in this little game.
Large tax deductible donations have been used to dictate the direction of scientific research, launder reputations, and ironically be used to shape public policy further away from the idea of just taxing these people instead.
On top of this there is a new type of quasi “venture charity” that is quietly becoming much more popular amongst some of the richest people in the world.
There are a few examples that honestly need to be getting a lot more attention than they are.
Just look at something like Open AI… remember when it was supposed to be a non-profit dedicated to the good of humanity? Whatever happened to that you might wonder?
well it may end up being the guinea pig for a lot more new technologies to follow the same path.
The spending, regulatory hurdles and public pushback has gotten to a point where it raises the question… at what point would it be easier and cheaper to just pay the damn taxes?