Andreessen Horowitz partners to donate half of VC income

By , ITworld |  IT Management, Andreessen Horowitz, Charity

Marc Andreessen

Founder of Netscape Communications Corporation Marc Andreessen speaks during an interview with Reuters in New York, June 22, 2009.

REUTERS/Brendan McDermid

Marc Andreessen of Netscape fame and his VC partners pledge half their personal earnings to charity.

Andreessen and the other five general partners will immediately donate $1 million to a variety of Silicon Valley area charities, most dealing with hunger and homelessness. Laura Arrillaga-Andreessen, Marc's wife, teaches philanthropy at Stanford University and recently published a book on the subject, Giving 2.0.

Similar to The Giving Pledge, proposed by Warren Buffett and signed by billionaires such as Bill Gates, Carl Icahn, and Larry Ellison, Andreessen's pledge is a public announcement of giving back. Each partner in the firm will control the timing and recipients of their donations.

Kudos

Awesome, just awesome.
Cheese McBeese on cnet.com

For the record I think this is a really positive move.
wr1472 on news.ycombinator.com

sounds like these guys have the right idea. and in the meantime they still have plenty of money for whatever they need or want. good example for others.
nubwaxer on cnet.com

This is fantastic! Many investors donate heavily to charity already, but making this the policy of the firm sends a very strong message.
mlinsey on news.ycombinator.com

Charitable thoughts

money is easy to give away because it will always feel better to do so
Lucy Barber on pehub.com

One example is that a number of local VCs support our local physical bookstore Kepler's in that way (it would have closed long ago if not for their grants) -- they feel its presence makes the community a better place.
pmarca on news.ycombinator.com

I agree that charity is better than conspicuous consumption.
jacoblyles on news.ycombinator.com

Suspicious

Capitalism is a system for transferring money from those who are bad at allocating capital to those who are good at allocating capital.
paul on news.ycombinator.com

I would rather they do whatever they want to do with the money they have earned without some kind of movement played out in the press which makes it looks like donating 1/2 to charity is the noble choice to make.
larrys on news.ycombinator.com

Wouldn't it be nice to see wealthy people competing to see who could donate the most to charity rather than who could build the biggest house or biggest yacht?

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