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by willmacaskill 4020 days ago
I think that startups where the users are principally people in poor countries is a very promising area for socially minded people to work in.

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).