Google sets-aside $1B for poverty, disease, global warming

Profit-based philanthropy - seed money for startups

[jtara]

The ambitious founders of Google, the popular search engine company, have set up a philanthropy, giving it seed money of about $1 billion and a mandate to tackle poverty, disease and global warming.

But unlike most charities, this one will be for-profit, allowing it to fund start-up companies, form partnerships with venture capitalists and even lobby Congress. It will also pay taxes.

[news.com.com...]

[mcavic]

We hope that someday this institution will eclipse Google itself in overall world impact by ambitiously applying innovation and significant resources to the largest of the world's problems.
- Sergey Brin & Larry Page

Sounds exciting! I firmly believe that Google can do practically anything they put their minds to.

[walkman]

brilliant idea. Having one billion to invest as one deems fit without restrictions, can be much more profitable IMO...even after taxes are taken out.