Reed Jobs' Yosemite plans using venture capitalism to fight cancer

This is what happens when you spend other people’s money. He will feel good about himself as he pisses his Dad’s fortune away. Please have a publicly displayed scorecard of where the money went and if anything of value came out of the grant. 

If Steve were still alive I wonder what he would think of nepo babies.

jimh2 said:

This is what happens when you spend other people’s money. He will feel good about himself as he pisses his Dad’s fortune away. Please have a publicly displayed scorecard of where the money went and if anything of value came out of the grant. 

A better use of the funds would be to give it away on street corners. 

It's not his fault that his family is wealthy. At least he's doing something to benefit other people. Some rich kids just flaunt their wealth on social media and spend on vanity items for themselves.

Training to be a doctor and running a health initiative for cancer research are wholesome activities.

It's true that in light of the cost of living, especially lack of affordable housing, affecting most people (including their health), a lot of good could be done by billionaires handing down wealth to poorer people. $50k would massively benefit most families and someone with over $10b could improve the lives of 200,000 families and still be a billionaire afterwards.

There's a clear systemic issue with wealth accumulation. Mackenzie Bezos got $36b in her divorce, pledged to give away half (got to keep $18b for a rainy day), she gave away over $12b and now has... $43b because her investments increased in value since the divorce.

Warren Buffet has said "if you don't find a way to make money while you sleep, you will work until you die". The way people make money while they sleep is to own parts of the means of production in other words, exploiting people who work for a living to let people who don't work, accumulate profits for nothing. The rich earn interest on their wealth while the poor pay interest on their loans. Almost as if the whole economy was designed by rich people and not poor people.

Nobody seems to have any interest in putting in a systemic fix for wealth inequality so until that happens, this is what we are left with - hoping that the privileged few make respectable choices with their wealth. Reed Jobs seems to be making respectable choices.

This hybrid approach is the same idea as the Emerson Collective, which was something both of his parents conceived. It’s just that this is focused on a single mission.

I’m not sure that working at your own family’s philanthropic organization counts as nepotism. It’s not like he’s working at Apple. I didn’t know he existed before today, and I gather he graduated from Stanford but medical school wasn’t an option, so of all the things the children of the .1% can do with that, this is pretty worthwhile.