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The Art of Being Unreasonable: Lessons in Unconventional Thinking By Eli Broad
We started by looking at some of the industry's most fundamental operating principles, what most people would call the basics. They represent the strongest, stickiest — and most unexamined kind of c...
conventional_wisdom  critical_thinking  quotes  moguls  unexamined  patronage  benefactors  assumptions  innovation  opportunities  Eli_Broad  thinking  unconventional_thinking  assessments_&_evaluations  unreasonableness 
february 2015 by jerryking
Eli Broad's Entrepreneurial Approach to Philanthropy
September 13, 2013 | WSJ | By ALEXANDRA WOLFE.

Eli Broad's Entrepreneurial Approach to Philanthropy
Billionaire philanthropist Eli Broad on art, education and revitalizing Los Angeles....Mr. Broad describes his approach to philanthropy as entrepreneurial. Mostly, he says, "what I do is I bet on people." Mr. Broad himself spends most of his time identifying effective leaders—and then he invests in them and their ideas. He also spends millions of dollars each year coming up with metrics to reveal hard data about performance, and only continues funding a school or institution if it is showing signs of improvement....
...Eli Broad enjoys artists' thoughts on "the human condition." He talks to them about social and global issues, from the disappearance of the middle class to the crisis in Syria. The gap between the rich and poor bothers Mr. Broad, he says, and has been an impetus for his philanthropy. "Artists see the world differently than us businesspeople," he says. "If I spent all my time with bankers, lawyers and businesspeople, it would be kind of boring."
moguls  entrepreneur  Eli_Broad  Los_Angeles  philanthropy  benefactors  school_districts  achievement_gaps  metrics  museums  collectors  art  artists  artwork  art_galleries  patronage  the_human_condition 
september 2013 by jerryking
Book Review: Why Philanthropy Matters - WSJ.com
March 27, 2013 | WSJ | By LESLIE LENKOWSKY

A Buffett Rule Worth Following
WHY PHILANTHROPY MATTERS
By Zoltan J. Acs
(Princeton, 249 pages, $29.95).

entrepreneurs were as philanthropic as those born into wealth, if not more.

This surprising fact propels "Why Philanthropy Matters," by Zoltan J. Acs, a professor at George Mason University. Mr. Acs has spent his career studying how entrepreneurs operate and what role their business ventures play in the economy. In his new book, he focuses on another kind of contribution they make, one that, he argues, is as essential for prosperity as the products and services they create.

Successful entrepreneurship, he writes, requires a steady stream of innovations. The best places to develop them are privately funded research universities, medical centers and other kinds of institutions—like libraries and laboratories—that are insulated from competitive and political pressure. He cites, among other examples of nurtured innovation, the agricultural advances developed in land-grant universities during the 19th and 20th centuries and the contributions made to the information age by the students and faculty of Stanford University. As important as industrial research may be, the university has become, since the 1980s, "the source of new knowledge to be transferred to the private sector."

But there is more to the logic of entrepreneurial charity than hatching innovative ideas. As Mr. Acs notes, the success that certain entrepreneurs achieve when they disrupt old industries and establish new ones can bring big rewards, resulting in disparities of income and wealth. Without the philanthropy that would underwrite scholarships or other sources of opportunity, the public might not long tolerate such differences.

In "The Gospel of Wealth" (1889), Andrew Carnegie urged his prosperous contemporaries to avoid "hoarding great sums" and to give their "surplus" wealth away during their lifetimes, to strengthen an economic system that might thereby produce some riches for all. In the more measured tones of an economist, Mr. Acs is making much the same point: A capitalist economy not only enables but requires philanthropy. Through it, entrepreneurs can support the kinds of institutions that generate discoveries and that provide pathways for other people to make their own fortunes.

Mr. Acs buttresses his argument with a variety of examples, including those of billionaires—among them, Michael Milken and David Rubenstein —who have followed Bill Gates and Warren Buffett by committing themselves to giving at least half of their wealth to charity and whose charitable enterprises are aimed at creating opportunity for others. (Eli Broad, for instance, subsidizes charter schools and management reforms to improve urban education.) In Mr. Acs's view, America's ability to combine entrepreneurial capitalism and philanthropic uplift is rare among developed nations.
Andrew_Carnegie  billgates  book_reviews  books  capitalism  Colleges_&_Universities  creating_opportunities  David_Rubenstein  disequilibriums  disruption  Eli_Broad  entrepreneurship  innovation  knowledge_economy  moguls  Michael_Milken  philanthropy  society  Stanford  symbiosis  technology_transfers  Warren_Buffett 
march 2013 by jerryking
Eli Broad offers life lessons in "The Art of Being Unreasonable'
May 04, 2012|Los Angeles Times | By Mike Boehm.

Eglinton Square
Book Nonfiction In Library 650.1 BRO
Eli_Broad  moguls  entrepreneur  books  book_reviews  life_lessons 
may 2012 by jerryking
Giving Till It Works - WSJ.com
Oct. 10, 2008 book review by Richard J. Riordan which looks at
the rise of billionaires who increasingly, are attempting to apply the
lessons of business success--monitoring investments, measuring
results--to their charitable efforts.
books  moguls  book_reviews  charities  entrepreneurship  capitalism  nonprofit  philanthropy  Eli_Broad  billgates  benefactors  passions  impact_investing  social_impact 
january 2009 by jerryking

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