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April 26, 2012 12:45 am GMT
In the grand tradition of industry barons -- but not so much venture capitalists -- the six general partners at Andreessen Horowitz are donating at least half of the income from their investing activities to philanthropy. The firm has already been turning heads up and down Sand Hill Road, but this move might cause some whiplash.Sure, American capitalists have been donating large portions of their wealth since the 19th century. And sure, the newest generation of tech titans, like Bill Gates and Mark Zuckerberg, are following in their footsteps. But VCs have not traditionally done so, at least at the firm level; major philanthropy in the industry has mostly come from individuals, like John Doerr and Michael Moritz.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/UJ2VAhvdQLk/
Andreessen And Horowitz Explain Why The Firms Partners Are Donating Half Their VC Income To Charity
In the grand tradition of industry barons -- but not so much venture capitalists -- the six general partners at Andreessen Horowitz are donating at least half of the income from their investing activities to philanthropy. The firm has already been turning heads up and down Sand Hill Road, but this move might cause some whiplash.Sure, American capitalists have been donating large portions of their wealth since the 19th century. And sure, the newest generation of tech titans, like Bill Gates and Mark Zuckerberg, are following in their footsteps. But VCs have not traditionally done so, at least at the firm level; major philanthropy in the industry has mostly come from individuals, like John Doerr and Michael Moritz.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/UJ2VAhvdQLk/
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