Andreessen Horowitz partners to donate half of VC income
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.
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 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?