The Difference Between Business And Philanthropy


wealthymatters.com

 ” If you open a restaurant , and the public does not like your food , you will know . If you do the wrong things in philathropy , you don’t get a feedback from the market system . ”

                   ——- Warren Buffett

I was very glad to hear these words today.The Buffett-Gates fortune is huge and I worry about how it will influence Public Policy in India.We have been too uncritical of Western ideas in the past ,adopted them with over-enthusiasm and have lived to regret it.Eg.Population Control,Green Revolution etc.I am glad that Buffett is aware of the implications of bad philanthropy.

What To Do With Money


wealthymatters.com

I came across this post today http://thechristianminimalist.wordpress.com/2011/03/09/how-to-create-a-treasure-map-that-your-heart-will-follow/#comment-98

How to Create a Treasure Map That Your Heart Will Follow?

Stop Wasting Your Money on Temporary Things

Move the Money and Your Heart Will Follow

Invest in Things with Eternal Value

The post spoke to me to me in some strange way.So I decided to record it here in my blog.I plan to reflect on it and let the message sink in.

Tata Style Philanthropy


wealthymatters.com

Here is something I found while surfing today.I found it here http://trak.in/tags/business/2007/06/26/this-is-what-lakshmi-mittal-has-to-say-about-his-competitor/ .The blogger believes the words originate from LN Mittal.In which case it would be high praise indeed for the Tatas from a competitor.Even if the note is authored by someone else it doesn’t detract from the fact that Tata Style Philanthropy is worthy of respect and well worth emulating.The picture above shows Jamshedpur.

“Most of us know Lakshmi Mittal to be the richest person in United Kingdom. We also know him as a Steel Industry Baron who took over Arcelor against all odds. However, more than money and business, he is a great human being and never fails to give credit where it is due, even if it means his own biggest rival.

Here is a note written by Lakshmi Mittal after his recent visit to TISCO: (It is long, but well worth the read)

‘I visited Jamshedpur over the weekend to see for myself an India that is fast disappearing despite all the wolf-cries of people like Narayanamurthy (mentor of Infosys) and his ilk. It is one thing to talk and quite another to do and I am delighted to tell you that Ratan Tata has kept alive the legacy of perhaps India’s finest industrialist J.N. Tata. Something that some people doubted when Ratan took over the House of the Tata’s but in hindsight, the best thing to have happened to the Tata’s is unquestionably Ratan.I was amazed to see the extent of corporate philanthropy and this is no exaggeration.For the breed that talks about corporate social responsibility and talks about the role of corporate India, a visit to Jamshedpur is a must. Go there and see the amount of money they pump into keeping the town going; see the smiling faces of workers in a region known for industrial unrest; see the standard of living in a city that is almost isolated from the mess in the rest of the country. Read more of this post

A Critique of the Giving Pledge


Wealthymatters.com

Following is a very nice critique of the Giving Pledge and the Buffett-Gates style of philanthropy.I found it a couple of days ago at http://heybrowncow.wordpress.com/2010/10/07/are-gates-and-buffet-teaching-the-world-how-to-live-the-american-way/ . It points out the good and the bad in the effort.The red text are points I find particularly interesting.How do you feel about the Giving Pledge? On what points do you agree/disagree with the author below?

Are Gates and Buffet teaching the world how to live (or give), the American way?

By Dingzi

AMERICAN billionaires and founders of The Giving Pledge Bill Gates and Warren Buffet may be heading next for the Nobel Peace Prize. Imagine what a heap of good the billions that have been pledged can do to make a better world.

Having persuaded 40 fellow American super-rich to pledge at least 50 per cent of their wealth to charity by the time they die – the collective pledge has reached US$1.25 billion – the two philanthropists are taking the campaign international. Read more of this post

A Personal Appeal


wealthymatters.comHere is something I came across while browsing today : http://www.giveasyoulive.com/ .I’m really not upto scratch with internet technologies.So could anybody who knows more please tell me about similar applications or programmes?I found this pretty interesting, just the 10-50% haircut made me pause.Has somebody any idea of how much developing something like this cost?Is there some free version available?