Nonprofit

“70% of our capital comes from nonprofits, charities, so I never thought of it as a game.”

“Universities or people who are not taxable get to do way better moves in the market than anyone who's taxable, right? And this is because it's a weird thing, which is very bad, I think, for the economy long term, that all the money and returns will pull up in …”

“Like he actually is bringing in a lot of other talent, but he's actually finding a way to pay them more using a nonprofit, which actually I happen to be a donor. I think Mark and others are donors to that as well.”

“The only organizations that really do stay true to some social bottom line over long periods of time are nonprofits.”

“The reason is nonprofit means non-scalable. Like if I have a set of donations, right. And I build the world's best product, the better the product, the faster my money goes away. And now I'm done, right?”

“And also as Satya said, create what we believe will be the largest nonprofit ever.”

“The nonprofit is already capitalized with a hundred and thirty billion dollars, a hundred and thirty billion dollars. Of open AI stock.”

“Nonprofits, the way they make money, Is not by solving these problems. They can make, they can raise more money if they keep, if it gets worse and they keep talking about it. And so when you create all these services, you're going to be attracting more and mor…”

“Cause you know, in our view, coming from California, I know a lot of these things were grifts where they'd hire all of their friends, all of their family, you know, even their aunt Sally, everyone's working for the nonprofit for two, three, 400 K. And it's obv…”

“And I know this because my friends at Sequoia who are big, huge investors, they only allow nonprofits to invest now. They like will not take actively many people's money.”

“I came to believe that the government running the schools was sort of the essence of the problem and that it would be better and more effective to have non-profits. Like, if you look at the university sector, you know, and all of our top universities, they're …”

“If you look at how the best For profits operate versus nonprofits with exposure to both. There is incredible beauty in being like, make money, right? And that's how you do it. It's interchangeable. It's freeing. It allows you to do great stuff. Whereas in nonp…”

“Having nonprofits and squeaky wheels like myself on your cap table is a little bit of reputation laundering”

“We also manage assets for more than 200 nonprofits. We're effectively their outsource CIO.”

“I can tell you that a lot of, you know, nonprofits should act more like businesses and figure out how to make it profitable so they can do more like what you're saying.”

“If you want to summon the AI God in a box, you gotta be a capitalist. It's not happening to a nonprofit. You're not just writing some clever algorithm with some altruistic.”

“I do think there are going to be some severe implications to a lot of these nonprofits.”

“For a long time, the elites would make a ton of money, and then they would just, like, constantly money launder all their money through, like, these fake nonprofits that just, like, made the world worse instead of actually going and building, like, just a huge…”

“The non-profit then sold their rights, their interest in this for-profit entity for 3.3 billion dollars. It was an incredible return. It was the largest investment return by a nonprofit in history.”

“The problem with this is that open AI convinced everyone because they were a quote unquote nonprofit to let them have a bunch of data that they could work with that they otherwise would never have had access to. And like, that is super skeezy. Right. And like …”

“So the government should not be funding non-profits. Let's just start there. That you can't, the government, if the government's job is to solve the problem of homelessness, only someone in the government can be charged with that, can be given the budget, ther…”

“With a nonprofit the expense statement, you know, will scale to meet the available funding. Sort of on, on autopilot, right? To make sure the thing goes to break even.”

“The appetite for compute is truly endless as now clearly seen, but we realized that we will need a lot. And a nonprofit was, wouldn't be the way to get there. Wouldn't be able to build a large cluster with a nonprofit.”

“My advice to mission-driven entrepreneurs is typically to try to do this, that stuff in a for-profit context, because access to capital, Is way easier in a for-profit.”

“And so current events are a great example to show the value of your solution because you can offer it for free to nonprofits or people who need it, and that gets on media, but it also allows people to imagine using your product without being a customer.”

“You could actually build Great stuff. Make money, but also do a ton of good in the world. More good than you would ordinarily do otherwise. And I think that became the foundation of my own journey in tech, because for me, it became a superpower for getting thi…”

“Anyone that thinks that they're going to start a nonprofit and think it's simpler or any different than starting a restaurant or you know, an ice cream stand down the street is completely mistaken. They are starting a small business.”

“So I always make the argument to, Institutional funders or donors of you actually want some overhead because that's how you ensure that your dollars are being properly spent.”

“You really find one of two types of people in nonprofits. It's either people that are you know, able financially at a point in their life to now give back to the community, or it's people that are entirely passionate about the cause and they don't care what th…”

“What I would always, always caution is take a strong look around and see if anybody else is doing what it is that you want to do, because unlike entrepreneurship, where you can elbow somebody out you know, if somebody's already doing good in that space, See if…”

“Building something that you really believe in, that lasts forever, potentially. And so, you know, don't lend your name. Do something that is yours, that comes from you, that you fundamentally believe in.”

“Nonprofits should Take risks. The market won't, right? Fund social entrepreneurs where there probably isn't a path to an IPO or an exit, but those social entrepreneurs will then lay the groundwork for the next and the next, and eventually that market starts to…”

“That's why I love capitalism so much more than nonprofits or governments as ways to solve problems, because if someone's willing to pay you to solve the problem and you can make money doing it means that you've created a tremendous amount of value, and it crea…”

“We have a nonprofit that leverages PagerDuty to manage corneal transplants, and, you know, really, like, talk about a time-sensitive, mission-critical workflow. A cornea becomes available by a donor, and you have, you know, less than a few days that that corne…”

“Some of those organizations are just more efficient in allocating capital and tackling social challenges than if you asked a pure, purely nonprofit to do it, or you asked a government program to do it.”

“Realistically for a lot of these spaces, if you're selling to, let's say nonprofits or higher ed or organizations that have been around for a hundred plus years, They want to see that the company has been around for two, three years before they're willing to e…”

“Most of our money comes from nonprofits.”

“Now, the underbanked space, lesser space, has been traditionally dominated by nonprofits and ignored by VCs.”

“The way that organizations set up as far as how we set up our operations, how we set up our platform, how we set up for scale, our products, all those things is the exact same way that a for-profit technology company is set up. And we believe that's the best w…”

“I think most nonprofits, I would venture to say, are in starvation mode, and they're in starvation mode largely driven by this culture of measuring them based on how much they spend on overhead versus program, which is just so sad.”

“To me, the only the only obligation you have if you take public money and spend it on a non-profit is to report back truthfully, objectively, and to a great level of detail on what you learned, what was the outcome of the experiment.”

“So often you can actually have more of an impact by going into A higher earning career and donating a very significant proportion of your earnings than you can by simply working at a nonprofit.”

“Like we believe there should be no difference in how a nonprofit operates.”

“Data scientists are expensive, and even if you just plopped a data scientist in with a lot of these non-profits, they wouldn't know what to do with one.”