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by mmrasheed
4011 days ago
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My two cents... Open your startup in the third world, developing countries. Or, at least lead some people in those regions to grow their own problem solving skills with IT and engineering. Or, travel to those regions with your targeted donation savings and see the suffering of humans. If charity means donating the money we think we no longer need, then we should go for any of the charity foundations mentioned in other comments. But the real charity would be to take our butts off our comfort zones, travel to the targeted countries, experience the real suffering of humans, and to find out how we can contribute with our top notch expertise in IT and engineering. Even discovering hidden prospects in those regions and nurturing them for local socio-economic development would be cool charitable work. Even, opening our startups and employing local people would contribute more significantly in those regions than millions of dollars in donations to those named charity foundations. It will not only improve our skill in practical problem solving, it will also enhance our spirituality. |
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Startups usually (but not always) generate value for their users in the form of consumer surplus. Because of diminishing marginal utility of money, $1 of consumer surplus in poor countries is worth 10x or more than $1 of consumer surplus in rich countries.
Some examples: Wave (YC alum) is making sending remittances cheaper (taking only 3% rather than 10% like Western Union). $0.4 trillion in remittances are sent every year. Segovia is making benefit payments in India more efficient, so that only 10% in lost in transactions rather than 50% as is currently the case. Both of these in my view have massive social value (and are run by people in the effective altruism community).