Word: teche
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...They do lots of research before giving. They demand accountability and results. Paul Schervisch and John Havens, authors of a Boston College study on giving, cite the $41 trillion that aging baby boomers will be leaving to their heirs and charities as a philanthropic gold rush. The high-tech boom has made more people richer faster than at any other time in history--which means that more of the superrich are thinking about giving away their fortunes at an earlier age. Schervisch and Havens write that "a golden era of philanthropy is dawning...
Many of today's tech millionaires and billionaires are applying to philanthropy the lessons they have learned as entrepreneurs. They want to make sure their charitable investments benefit their ultimate "customers"--those in need--and don't get lost in red tape and bureaucracy. This has caused some tension with the nonprofit organizations that have traditionally been the recipients of such largesse. "Are charitable organizations ready to deal with all that money?" asks Stacy Palmer, editor of the Chronicle of Philanthropy. "If your scale has always been a lot smaller and all of a sudden you are given major resources...
Gates' first great non-Microsoft project, started in 1997, was paying billions to wire America's libraries. He deployed high-tech task forces that fanned out across the U.S. equipped with computers, modems and software, bridging the digital divide for poorer school districts. There is a room on the second floor of the Gates Foundation's new Seattle office complex that is command central for that initiative, where huge national maps are studded with pins showing which library districts have been wired--22,530 computers in 4,540 libraries in the U.S. and 4,024 computers in 1,435 libraries...
Clark has a personal insight into why some tech multimillionaires postpone serious charitable giving. At one point in 1998, he watched the value of his Netscape stock erode from $2 billion to $200 million. And other wealthy techies have seen similar wild swings in their personal fortunes. Explains Clark: "When you see your net worth drop like that, you think, 'If this keeps going, I'm going to have to sell my airplane...
...heart with a mega-ton of dynamite - let's escape for more ecstasy tonight," might find the feds on his trail. House Judiciary chairman Henry Hyde and Rep. Charles Canady, chairman of the Constitution subcommittee, alarmed at potential Cointelpro-type abuses - and possibly sensing a wedge issue to drive tech heads out of the Democratic camp - have scheduled a hearing for Monday...