Philanthropy does an amazing amount of good in the world. However, when philanthropy finds a solution to a problem, the solution only scales through yet-more philanthropy. In contrast, when a for-profit company finds a solution, the profits from the solution pay for more.
In a world where 7 billion people have access to a Coke within a half day’s walk, the same should be true for clean water, affordable energy, healthy food, health care and other essential products and services.
What is true is that we have a legal and fiscal structure for such solutions, namely the for-profit company. All we’re missing is a useful mission embedded within such companies, solving the important problems of the world.
This week’s webinar (above) talks about the invention of foundations, and compares the scale of foundations vs. for-profit companies.