The C/ZI Terror of Money - Business Good to the MAX!

It is possible, for those who have lost their focus, for billions of dollars in corporate or business worth to actually do good. People can benefit, society can benefit, the ways and means of greed undercut if these rather significant amounts of money can be aimed at bringing about serious change. Unfortunately, you can hardly see that these days. (No Trumpisms, please!)

When the parents of Facebook announced their Chan/Zuckerberg Initiative (C/ZI), I was thrilled. I believe it will bring us the force needed to literally reclaim control of the 1%; to redefine and direct it as it should be.

Not only was this announcement heartfelt and deep -- anyone understand what Deep Learning is? Critical thinking? -- it came across very sincere. Just as importantly, though loosely disguised as a letter to a little girl with a genderfluid name of Max, it was in reality a massive idea built around an innovation in business generosity. I can’t know whether they have devious intentions (it is always possible), but what they did, in fact, was very directly, very clearly spell out a plan that seems so straightforward it’s almost unbelievable. They not only agreed to give away 99% of their personal wealth, they opted to do so using a standard, not terrible, everyday ordinary business model that transforms their transactional realities into social and cultural awesomeness: They set up a conventional LLC instead of relying on the charitable tax covers normally used to establish a self-gratifying philanthropic foundation that avoids taxes and mostly squirrels away money for lifetime after lifetime.

That people cannot -- or won’t -- see this is sad to the Max.

Their actions are, in so many ways, the very founding of what Impact Investing is. To date, the idea of blending the values of profit and purpose has hit home with many corporate and philanthropically minded persons; but, in my opinion, mostly as an excuse to make their perception of capitalism come across feeling nicer than it really is. I happen to believe that this is exactly what charitable foundations do day in and day out. When Bill and Melinda Gates have an intensive ipso facto hands-on control of the money they gave for public benefits, they use it to advance a personal agenda and avoid taxes accordingly even while doing great stuff.

The Chan/Zuckerberg Initiative, at least as far as we can tell right now, suggests otherwise. Using the LLC model, they are directing their money to good and still ensuring that it is subject to tax requirements. It is not hidden behind foundation benefits that completely avoid taxes and tie up the dollars for all kinds of misdirected use and abuse while people in need go hungry.

The Cha/Zuckerberg Initiative is instead taking quality giving to the MAX, and it is happening without many signs of cheating the system. Of course the lawyers and tax advisors will get in the way and people will scream about what actually happens to the money, but that is more about our inability to see the good that is being posted right in front of our faces … and that’s a very deep and disturbing form of cultural terror that makes me worry a lot.