Word: start-up
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Andrew Rasiej, chief executive of a dotcom start-up called Digital Club Network, was visiting a public high school in Silicon Alley in downtown Manhattan and was amazed that it had no computers. He dashed off an e-mail to a handful of fellow CEOs suggesting that they get together over a weekend and put the school online. More than 150 volunteers showed up for what turned into the digital equivalent of a barn raising. Rasiej, 41, was standing on a ladder, pulling computer cable through the high school's ceiling with Gene DeRose, CEO of Jupiter Communications, when...
...know if it's not working? If the Barksdales don't see higher reading scores in the schools they're helping, they will pull the funding and appropriate it to another program. That's why Jim insists that the money isn't a gift. He says, "I invest in start-up businesses, so to me this is like an investment." And it's already paying off every time the Barksdales visit a school like Lee Elementary, where each beneficiary of their philanthropy has a name and a smile and a small handshake...
...real kicks these days mostly from the Sarosi-Kanter Charitable Foundation that she and her husband Marc started with $2 million. And she knows half a dozen other current and former Microsofties who have started foundations. "The status symbol of the '80s was a BMW. The status symbol of this decade is having your own foundation named after you," says a Microsoft retiree, who naturally has her own. The move certainly makes financial sense for folks like Kanter. After typical start-up costs of about $20,000, assets of more than $300,000 can be parked so that the donor...
...anxious promoters of a start-up company, wearing their Sears suits and begging for an investment from clench-jawed venture capitalists wearing Brioni: there is a version of this scene in the founding myth of almost every tech firm from Sun Microsystems to eBay. Venture-capital financing is as embedded in the culture of Silicon Valley as integrated circuits and $750,000 tract houses. So perhaps it's not surprising that this form of financing--and its results-oriented assessment of potential investments--has made its way to the nonprofit sector...
Doerr is a man whose ear thousands of start-up entrepreneurs vie for, yet he spends a few hours each week seeking to improve public education. "The one thing we know about this new economy," he says, "is that if you can't do algebra, if you can't do symbolic reasoning, you are going to get left behind forever...