Excellent essay from Nan on the coming wave of AI-era philanthropy and the latent opportunity in billions of dollars of newly created wealth flowing toward public goods.
Her central case: what if we modeled public goods funding more like Silicon Valley’s startup ecosystem?
What could philanthropy’s equivalents learn from LPs, VCs, and founders?
Greater ambition, more risk, better incentives for top talent, more innovative funding models, embracing power law outcomes…
In some sense, this is Nan laying out a framework for how we can have more Nan’s: world-class investor / founder / operator talent that work on philanthropy without sacrificing their ambition.
New blog post: The third wave of American philanthropy
Hundreds of billions of dollars in new philanthropic capital will soon become liquid. The OpenAI Foundation holds 26% of OpenAI, worth about $220B at today’s valuation. Anthropic’s seven co-founders have pledged to give away 80% of their wealth and have instituted the most aggressive donor matching program for employees in tech history.
How much does this all add up to? And how meaningful is that in the context of philanthropy today?
I was doing some simple napkin math to wrap my head around the scale of what’s coming, and radicalized myself in the process. I had dramatically underappreciated the scale of the philanthropic capital that’s about to become available and the corresponding gap in talent and organizations that will be needed to make the most of it.
This piece aims to directionally sketch the scale of what’s coming, the gap in operational capacity needed to absorb it, and what we can do to fill it.
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