Bill Ackman agrees with Jeff Bezos: the best way to help the world is to build something that works
TL;DR
Bill Ackman says capitalism beats philanthropy at solving problems. Jeff Bezos made the same case. Ackman’s new Brain Research Institute uses nonprofit capital to spin out for-profit companies with equity for staff.
Bill Ackman has spent close to $1 billion on philanthropy over two decades and concluded that capitalism is better at solving problems. “I’ve spent a fair amount of time on philanthropy, and it’s vastly less efficient at solving problems than capitalism,” the Pershing Square founder told Fortune. “You create far more jobs through capitalism than through philanthropy.” Jeff Bezos made the same argument in May: “If I do my job right, the value to society and civilization from my for-profit companies will be much, much larger than the good that I do with my charitable giving.”
The argument is not new, but the pairing is notable. Ackman and Bezos represent a...
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