Good Ventures

Last updated
Good Ventures
Founded2011;11 years ago (2011)
Founder
Type Private foundation
45-2757586 [1]
Key people
  • Cari Tuna
  • Dustin Moskovitz
Revenue (2015)
$177,849,222
Website goodventures.org

Good Ventures is a private foundation and philanthropic organization in San Francisco, and the fifth largest foundation in Silicon Valley. [2] It was co-founded by Cari Tuna, a former Wall Street Journal reporter, and her husband Dustin Moskovitz, one of the co-founders of Facebook. [3] [4] Good Ventures adheres to principles of Effective Altruism and aims to spend most or all of its money before Moskovitz and Tuna die. [5] [6] Good Ventures does not have any full-time staff, and instead distributes grants according to recommendations from Open Philanthropy.

Contents

History

Cari Tuna, then a reporter at the San Francisco bureau of the Wall Street Journal , and Dustin Moskovitz, Facebook co-founder, started dating in 2009. In 2010, Moskovitz signed the Giving Pledge, and he and Tuna began investigating how best to give away the money. [5]

Tuna first learned about charity evaluator GiveWell and the movement for effective giving after reading The Life You Can Save , and the couple was introduced to the ideas of effective altruism. Tuna and Moskovitz formed Good Ventures. Moskovitz was busy running Asana, so Tuna quit her job in 2011 to work full-time on Good Ventures. She also joined the board of GiveWell in April 2011. [3]

In March 2013, Good Ventures launched its own website. [7] In August 2014, GiveWell Labs, an internal project of GiveWell that did research on effective philanthropy, morphed into the Open Philanthropy Project, a joint venture of GiveWell and Good Ventures. [8] Good Ventures no longer has any full-time staff, and distributes grants according to recommendations from Open Philanthropy. [9]

Operations

Good Ventures plans to spend out the majority of its money before the death of Moskovitz and Tuna. Most of the money for the foundation comes from the stock Moskovitz obtained as a Facebook and Asana co-founder. [10] [11] [12] [13] [14] The organization has a publicly available grants database on its website. [15] Good Ventures LLC invests in for-profits related to human health and well-being, and donates earnings to the Good Ventures Foundation. [16] Its investments include Vicarious, a company working in artificial intelligence. [17] [18]

See also

Related Research Articles

<span class="mw-page-title-main">Charity (practice)</span> Voluntary giving of help to those in need

The practice of charity is the voluntary giving of help to those in need, as a humanitarian act, unmotivated by self-interest. There are a number of philosophies about charity, often associated with religion.

GiveWell is an American non-profit charity assessment and effective altruism-focused organization. GiveWell focuses primarily on the cost-effectiveness of the organizations that it evaluates, rather than traditional metrics such as the percentage of the organization's budget that is spent on overhead.

<span class="mw-page-title-main">Dustin Moskovitz</span> American billionaire and entrepreneur

Dustin Aaron Moskovitz is an American Internet entrepreneur who co-founded Facebook, Inc. with Mark Zuckerberg, Eduardo Saverin, Andrew McCollum and Chris Hughes. In 2008, he left Facebook to co-found Asana with Justin Rosenstein. In March 2011, Forbes reported Moskovitz to be the youngest self-made billionaire in the world, on the basis of his 2.34% share in Facebook. As of November 2022, his net worth is estimated at US$11.3 billion.

<i>The Life You Can Save</i> 2009 book by Peter Singer

The Life You Can Save: Acting Now to End World Poverty is a 2009 book by Australian philosopher Peter Singer, in which the author argues that citizens of affluent nations are behaving immorally if they do not act to end the poverty they know to exist in developing nations.

Asana is a web and mobile "work management" platform designed to help teams organize, track, and manage their work. It is produced by the San Francisco-based company of the same name. The company was founded in 2008 by Dustin Moskovitz and Justin Rosenstein. The product launched commercially in April 2012. In September 2020, the company was valued at $5.5 billion following its direct listing.

<span class="mw-page-title-main">Justin Rosenstein</span> American businessman

Justin Michael Rosenstein is an American software programmer and entrepreneur. He co-founded the collaboration software company Asana in 2008.

<span class="mw-page-title-main">Holden Karnofsky</span> American nonprofit executive

Holden Karnofsky is an American nonprofit executive. He is a co-founder and co-chief executive officer of the research and grantmaking organization Open Philanthropy. Karnofsky co-founded the charity evaluator GiveWell with Elie Hassenfeld in 2007 and is vice chair of its board of directors.

GiveDirectly is a nonprofit organization operating in East Africa that helps families living in extreme poverty by making unconditional cash transfers to them via mobile phone. GiveDirectly transfers funds primarily to people in Kenya, Uganda, and Rwanda.

Effective altruism is a philosophical and social movement that advocates "using evidence and reason to figure out how to benefit others as much as possible, and taking action on that basis". People who pursue the goals of effective altruism, called effective altruists, often choose careers based on the amount of good that the career achieves while donating to charities based on maximising impact. The movement developed during the 2000s, and the name effective altruism was coined in 2011. Prominent philosophers influential to the movement include Peter Singer, Toby Ord, and William MacAskill. Several books and many articles about the movement have since been published, and the Effective Altruism Global conference has been held since 2013. As of 2022, several billion dollars have been committed to effective altruist causes.

<span class="mw-page-title-main">80,000 Hours</span> Non-profit organisation that conducts research on which jobs have most positive social impact

80,000 Hours is a London-based nonprofit organisation that conducts research on which careers have the largest positive social impact and provides career advice based on that research. It provides this advice on their website and podcast, and through one-on-one advice sessions. The organisation is part of the Centre for Effective Altruism, affiliated with the Oxford Uehiro Centre for Practical Ethics. The organisation's name refers to the typical amount of time someone spends working over a lifetime.

<span class="mw-page-title-main">Silicon Valley Community Foundation</span> Donor-advised community foundation

The Silicon Valley Community Foundation (SVCF) is a donor-advised community foundation serving the Silicon Valley region. It is the largest charitable foundation in Silicon Valley.

<span class="mw-page-title-main">Laura Arrillaga-Andreessen</span> American philanthropist, educator and author

Laura Arrillaga-Andreessen is an American philanthropist, educator and author.

Vicarious was an artificial intelligence company based in the San Francisco Bay Area, California. They use the theorized computational principles of the brain to attempt to build software that can think and learn like a human. Vicarious describes its technology as "a turnkey robotics solution integrator using artificial intelligence to automate tasks too complex and versatile for traditional automations". Alphabet Inc acquired the company in 2022 for an undisclosed amount.

GivingTuesday, often stylized as #GivingTuesday for the purposes of hashtag activism, is the Tuesday after Thanksgiving in the United States. It is touted as a "global generosity movement unleashing the power of people and organizations to transform their communities and the world". The organization of the same name is an independent 501(c)(3) nonprofit that supports the global movement.

ImmigrationWorks USA was a national 501(c)(4) nonprofit organization in the United States that advocated for freer movement of workers, representing the interests of businesses who would like to be able to hire migrant workers more freely. It linked 25 state-based coalitions of businesses. The organization also had a sister foundation, ImmigrationWorks Foundation, that was a registered 501(c)(3) charitable organization.

<span class="mw-page-title-main">Founders Pledge</span> English charitable non-profit

Founders Pledge is a London-based charitable initiative, where entrepreneurs make a commitment to donate a portion of their personal proceeds to charity when they sell their business. Inspired by effective altruism, the mission of Founders Pledge is to "empower entrepreneurs to do immense good".

Open Philanthropy is a research and grantmaking foundation that makes grants based on the doctrine of effective altruism. It was founded as a partnership between GiveWell and Good Ventures. Its current co-chief executive officers are Holden Karnofsky and Alexander Berger, and its main funders are Cari Tuna and Dustin Moskovitz. Dustin says that their wealth, worth $11 billion, is "pooled up around us right now, but it belongs to the world. We intend not to have much when we die."

<span class="mw-page-title-main">Cari Tuna</span> American nonprofit businessperson and former journalist

Cari Tuna is an American nonprofit businessperson. Formerly a reporter for The Wall Street Journal, she co-founded and works for the organizations Open Philanthropy and Good Ventures.

<span class="mw-page-title-main">ICONIQ Capital</span> American wealth management and investment firm

ICONIQ Capital is an American wealth management and investment firm based in San Francisco, California. It functions as a family office that provides wealth management services to high net worth clients such as Mark Zuckerberg, Sheryl Sandberg, Jack Dorsey and Jeff Weiner. The firm also is involved in investments related to Private Equity and Venture Capital.

References

  1. "Good Ventures Form 990 2015". ProPublica. Retrieved 18 September 2017.
  2. "Largest foundations in Silicon Valley". Silicon Valley Business Journal. Retrieved 2022-02-06.
  3. 1 2 "Another Facebook Co-Founder Gets Philanthropic". The Chronicle of Philanthropy. 2012-01-10. Retrieved 2022-02-07.
  4. Gose, Ben (November 3, 2013). "A Facebook Co-Founder and His Wife Use Effective Altruism to Shape Giving". Chronicle of Philanthropy . Retrieved March 25, 2014.
  5. 1 2 "Cari Tuna and Dustin Moskovitz: Young Silicon Valley billionaires pioneer new approach to philanthropy - The Washington Post" . Retrieved 2022-02-06.
  6. Matthews, Dylan (April 24, 2015). "You have $8 billion. You want to do as much good as possible. What do you do?". Vox . Retrieved April 27, 2015.
  7. Olanoff, Drew (March 12, 2013). "Dustin Moskovitz And Cari Tuna Launch Site For Their Philanthropic Foundation, Good Ventures". TechCrunch . Retrieved March 25, 2014.
  8. Karnofsky, Holden (August 20, 2014). "Open Philanthropy Project (formerly GiveWell Labs)". GiveWell . Retrieved April 27, 2015.
  9. Ventures, Good. "Grantmaking Approach". Good Ventures. Retrieved 2022-02-06.
  10. "Cari Tuna and Dustin Moskovitz: Young Silicon Valley billionaires pioneer new approach to philanthropy - The Washington Post" . Retrieved 2022-02-06.
  11. "Big tech bankrolls BLM in exchange for net neutrality support" . Retrieved 2022-02-06.
  12. "Wringing the Most Good Out of a Facebook Fortune". The Chronicle of Philanthropy. 2015-12-01. Retrieved 2022-02-06.
  13. Carpenter, Scott (2021-10-19). "Facebook co-founder Dustin Moskovitz builds a second fortune". The Sydney Morning Herald. Retrieved 2022-02-06.
  14. "Dustin Moskovitz". Forbes. Retrieved 2022-02-06.
  15. "Grants Database". Good Ventures. Retrieved 2013-04-20.
  16. "Other Investments". Good Ventures. Retrieved March 25, 2014.
  17. "Vicarious Announces $15M Series A Funding Led by Good Ventures". Good Ventures. August 21, 2012. Retrieved March 25, 2014.
  18. Ha, Anthony (August 21, 2012). "Vicarious Raises $15M Led By Dustin Moskovitz's Good Ventures To Build Software That 'Learns Like A Human'". TechCrunch . Retrieved March 25, 2014.