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robertogreco : blackstone   2

For the love of God, rich people, stop giving Ivy League colleges money - Vox
"But it's hard to imagine a worse way to use the money that still entitles Schwarzman to a charitable tax deduction. Yale is not a charity. It is a finishing school that overwhelmingly serves children of wealth and privilege. Supporting its scientific and particularly biomedical research is worthwhile, but the school is already far richer than all but one of its peer institutions and has access to considerable federal funds in that area, as well. And, of course, Schwarzman isn't supporting Yale's biomedical research. He's giving its dancers a nicer stage upon which to pirouette.

Literally any other charity, save maybe Harvard, is a better choice. Schwarzman could give $150 million to distribute bednets in sub-Saharan Africa, a highly cost-effective way to save lives. He could give $150 million directly to poor people in Kenya and Uganda through GiveDirectly. He could give $150 million to deworming efforts that spare children ailments that can cause immense pain and poverty. He could give $150 million to the Open Philanthropy Project or the Gates Foundation or another group doing careful, rigorous work to determine the best ways to use charitable resources to make the world a better place. He could, in fact, do all of the above because he's crazy stupid rich.

Of course, even the most generous among the rich spend heavily on themselves. Bill Gates may hope to spend down his fortune by fighting HIV and malaria in the developing world, but he also found the money to buy his daughter a 228-acre horse farm with 121 stalls, a race track, and staff lodging for up to 32 people. And maybe that's how Schwarzman's profligacy is best interpreted. He's a Yale alum, and this donation clearly provides some kind of emotional benefit to him.

But it's not philanthropy. It's not helping people who need help, and it's obscene that Schwarzman is getting a massive tax write-off for it. Giving to Yale is not an act of altruism. It's a gigantic, immoral waste of money, and it's long past time we started treating it as such."
plutocracy  blackstone  highereducation  2015  highered  ivyleague  stephenschwarzman  dylanmatthews  billgates  taxcode  charities  charitableindustrialcomplex  money  us  economics  priorities  philanthropy  donations  yale  philanthropicindustrialcomplex  charity  capitalism  power  control 
may 2015 by robertogreco
Disrupting Slumlords — Weird Future — Medium
"This is the Taskrabbit economy in full swing. The sharing economy which allows car owners, home dwellers, and free-time havers, to extract every bit of value from their resources needs people desperate for a little extra cash. Some chunk of that 62% of people who are using Airbnb to keep their homes are people who wouldn’t be putting up with the hassle if times weren’t tough.

The sharing economy benefits greatly from a collapsed normal economy. Airbnb and Blackstone are two sides of the same dark coin. Airbnb doesn’t have a multi-billion dollar valuation for being friendly."
timmaly  2013  taskrabbit  airbnb  blackstone  realestate  finance  economics  sharing  mortgages  foreclosures  housing  housingcrisis 
november 2013 by robertogreco

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