Jack Dorsey gives $1B to fund global Covid-19 relief

dsr12 | 347 points

Quick summary to preempt more of the repetitive HN comments caused by not clicking through and then scrolling:

* It's an LLC instead of a 501c3 because that allows more flexibility. This is not unprecedented

* It's $1B of his wealth in terms of Square stock

* There is a spreadsheet to track where it's going https://docs.google.com/spreadsheets/d/1-eGxq2mMoEGwgSpNVL5j...

* The order of operations is COVID-19, then girl's health and education, and UBI

* It's 28% of his wealth

renewiltord | 2 months ago

There's something amusing to seeing $1B doled out over a Google Spreadsheet while some charities a microfraction of the size will spend thousands of dollars on a custom website.

Spreadsheets become SaaS products and SaaS products become spreadsheets in a never-ending loop.

It'll be fun to see where this goes!

urs | 2 months ago

Good grief some of the comments on here. Guy is donating 25% of his wealth. That's pretty f'n noble of someone.

davidg109 | 2 months ago

Ok, this IS stepping up. 1B will make a difference.

The big problem is that if distribution is not properly managed it will go to waste via people taking advantage of the situation. Giving away money responsibly is hard. We see it all the time.

WheelsAtLarge | 2 months ago

If I got this right, he is not donating actual $$ but his shares are transferred to this new entity "Start Small" which is not even a non-profit but an LLC.

csomar | 2 months ago

Probably the best time, since Square stock is gonna struggle a lot after these next two quarters

xkjkls | 2 months ago

Not normally a fan, but I think Dorsey should be given massive props for being one of the few ultra rich indviduals (or even companies) to try to actually meaningfully step up to the pandemic challenge.

It's not just our governments and health authorities who have completely failed us, the response from extremely well resourced private parties and entities also has been extremely underwhelming.

It's been clear for months now that Testing/Tracking/Masks are vital to efficiently deal with this, all are basically low tech. And yet no single Western country has adequate capacity or taken any remotely serious steps to obtain it and non-governmental actors have not significantly stepped in either.

patrec | 2 months ago

I admire Gates more, for not just giving his money, but quitting his day job and giving his time. But Dorsey is young, he has time to increase his wealth more before stopping to wield it himself.

hirundo | 2 months ago

Why is this an LLC and not a 501c?

Can someone comment on if this is truly charitable in nature? Or something else?

edit: thanks for the alert on mixing up my acronyms

nostromo | 2 months ago

I just feel like speaking my mind. It's a WIP.

The idea of the patriarchy really took hold. It's convenient to believe that everything is the fault of monstrous men. Meanwhile many men never really wanted to be an oppressive alpha anyways, many just want to love and be loved; perhaps focus on their projects. It seemed like a win-win, softer men can just be themselves, no more oppression, who needs the dumb alphas anyways?

But there's one big issue here: neither male nor female libido has changed. Women still get off harder when they feel it's their idea, that the man was the trophy. But to be honest with a woman is to be honest about the male libido, that it's not particularly difficult to hack into.

So in order to really get a girls rocks off, you have to be able to hack her libido. Whatever her game is, you've got to know how to play it. Which means you'll have power over her, she's thinking about you, the more she think about you the more power you have, obsession, etc. And if you hurt her, it's oppression. She never wanted this! Pay no mind to the men she's hurt herself, for they set themselves up for it. But you worked to do this to her.

I honestly think there's only one way to create equality and that's drugs that change our libidos to be more similar: A. For women: perhaps a drug that makes them simultaneously aroused and hyper-critical? B. For men: I don't know what it's like to be a woman. Women should design this drug.

Feel free to replace the words "men" and "women" with top/bottom, dom/sub, masculine/feminine, or whatever non gender biased terms suit you, if that's what you like.

seph-reed | 2 months ago

What's remarkable is how this is a clear case study of the amount of wealth destroyed _by gutting government_

If I were to try to be pithy: Capitalism destroyed by the incompetency of libertarian ideals.

emeerson | 2 months ago

This seems kind of pointless when the Fed can just print 2 trillions out of thin air.

Geee | 2 months ago

If he was serious he'd know to spend the money on Covid-19, and only that.

Vanity projects like girl’s health and education, and UBI show he's just not serious about the current issues at hand. (These are low even without covid-19 and have a lot of funding already)

Plus girls heath and education is best helped through helping pregnant mothers / with children up to 2 years. But that's science over feels.

aaron695 | 2 months ago

This doesn't even start to address the amount of damage he has done to the US and to the world through his bad management at Twitter. He bears a large slice of responsibility in creating the situation we are in.

luckydata | 2 months ago