Elon Musk has been rightfully described using some pretty incredible adjectives. For those who don't know, Elon Musk is:
1) the founder, CEO, and CTO of SpaceX (areospace manufacturer and space transport services)
2) co-founder, CEO, and product architect of Tesla Motors
3) chairman of SolarCity (designs, finances, and installs solar power systems)
4) co-founder of PayPal
5) co-chairman of OpenAI (a non-profit artificial intelligence research company)
etc...
Musk is a visionary entrepreneur who's primary goals are critically centered around changing the world by "reducing the risk of human extinction" and "making life multi-planetary". Now, anyone else having the same goals may be seen as hyperbolic, over-reaching, or melodramatic. However, Musk has the resources, the drive, and the ability to make these dreams a reality.
Musk recognizes Peter Singer's philosophy of doing the most good you can do. Not only is Musk an extremely successful billionaire, a revolutionary Renaissance man, and a practical environmentalist, he is also an exceptionally generous philanthropist.
Elon Musk established the Musk Foundation in 2001 in order to award monetary grants towards renewable energy research, human space exploration research, pediatric research, and science and engineering education. The total giving as of 2014 amounted to a sum of 1.29 million dollars (and has been voted the ugliest website created by a multi-millionaire by Forbes Magazine: www.muskfoundation.org).
Musk, with all the wisdom of a multi-millionaire and a Ph.D. in applied physics, decided to focus his non-profit organization towards issues we rightfully haven't really discussed much in class. He thinks outside the box and transcends conventional non-profit missions of making the world a better place.
For example, the Musk Foundation has supported projects and research into experiments such as:
1) Placing an experimental greenhouse on Mars in order to make colonization possible (Project Mars Oasis)
2) Creating advanced interplanetary rockets which would make public space travel possible
3) Creating affordable solar power systems in areas hit by disaster
4) Investigating safe and beneficial ways of integrating artificial intelligence into our society
5) Alzheimer's disease research, and constructing modern, technologically advanced pediatric hospitals.
and that is only to name a few.
My question to you is: if you had the power, influence, and opportunity that Elon Musk has (net worth 12.7 billion dollars) what massive issues facing our world and our future would you focus on? Elon Musk wishes to save humanity from extinction. What are your goals?
I think this is an interesting post, and find Elon Musk's efforts particularly interesting. But one thing that consistently concerns me about the ultra-wealthy and giving is the amount of power that comes along with it. Elon Musk, with his 12.7 billion dollars, has the authority to not only give in large quantities but to influence the direction of societal progress through giving. He and those like him can determine the focus of the future while also donating to improvement.
ReplyDeleteI don't know how many of you are Mad Men fans, but this article opens with a surprisingly relevant scene from the series —http://www.fastcompany.com/1689263/philanthropy-gateway-power. It makes a fair point — those who are wealthy and chose to give have a way of advancing and enforcing their power, and ultimately continuing their goals an initiatives. They can give for the sake of improvement and the "greater good," while also considering a great deal of self interest. And the same idea goes for companies that give as organizations, not just individuals.
The article also goes on to address how organizations can use their philanthropic efforts to entice high-quality employees. Giving and influence in this matter become a sort of strategic initiative and a moment of social commentary — employees may be inclined to seek out companies that are philanthropic, and companies know how to draw in those employees through their philanthropic choices.
I'm definitely sounding like a skeptic, but it always makes me think twice when considering the giving practices of extremely wealthy individuals. The power that comes with funding large-scale initiatives does reflect self-interest on at least a small scale which can have a large-scale effect when applied to the direction of social change.
I found this post to be well written and I am also a big fan of Elon Musk. SolarCity is a great corporation and I can't wait until Telsa can come out with a car that can be produced and purchased without a waiting list. I think that Musk's foundations investments are good for society. There is a lot we don't know about space and with the government stepping away from space exploration I am happy to see that there are civilians that are trying to expand our understanding of the galaxy. Already extinction is possible and a way for the human race to survive is needed.
ReplyDeleteIf I had 12.7 billion dollars of net worth I would put money towards solar energy and making it more affordable to the public. Also I would invest in medical research so that society can cure more people that are ill. Finally, I would go around and talk to strangers and if they have a touching enough story I would directly give them money.
I especially like your usage of Musk as an example, Andrew, because of the fact that he is such a Renaissance man. I find this distinction crucial because of how he uses his scientific knowledge and proclivity towards physics to qualify and shape his philanthropic goals. I think we could all learn from his integration of thoughts from different realms to create more holistic opinions for ourselves, within philanthropy and beyond.
ReplyDeleteWere I as successful as Musk, I'd direct my money towards the massive negative impact of neoliberalism abroad. What I'm referring to is, for instance, how wage labor has largely been taken out of this country, and other heavily-developed and economically savvy countries, and exported to foreign countries: an easily expicable example is how Apple exploits coastal Chinese labor to produce iPhones...paying them only $5 a day on average. Many companies exploit this foreign labor policy, that was popularly supported during the 1980s and 90s. I would try to use my money to both endorse as many of these workers as possible, through dedicated funds, and to incentivize the return of labor to the US. Namely, based on having such notoriety and celebrity as Musk would, I would hire labor for my company solely from the US, and pay them well (this is the skeleton of an old wage labor relations system called Fordism) and make a point of professing that my company does this. This would, hopefully, create a backlash in public opinion against companies that exploit foreign labor, and lead to further exposés of their actions abroad, based on the popularity of the topic.
I wish that someone with a lot of money, especially a successful businessmen, would incorporate policies like these and make tarnishing the name of neoliberalism a serious goal: just because it isn't right in front of us every day, this does not mean that serious labor abuse does not happen often...in the aforementioned Chinese example, so much so that it resembles Carnegie's calculatively exploitative treatment of his steel mill workers. Although this goal may not be something within the structure of stereotypical philanthropy, as we've seen it (mostly operated upon within the nonprofit sector), I believe it is still a crucial goal for anyone with a "love of humanity:" all laborers deserve a fair chance and an opportunity to achieve a higher qualities of life, especially those working underneath American corporations, which are supposed to uphold these values. Insofar as my philanthropy goes, I feel like these companies should be held accountable and/or these people liberated from these cycles of oppressive labor in order for justice to be served for these countless workers, and their families; and I hope, again, that someone with power/capital/influence like Musk would shed a critical eye on this deeply philanthropic issue.
Interesting post Andrew, I enjoyed the new perspective on philanthropy that this topic brings to the table. I've always admired Elon Musk for his critical changes to science and thinking that this world could definitely incorporate, and more importantly his passion to expand and improve the dynamic environment around him. I think he is a great example of an individual that does not take Peter Singer's ideas to an extreme, and still maintains a level of personality and individualism, while also benefiting society in some measurable way.
ReplyDeleteNow if I were a rich businessman, I think I would provide benefits to society in a more direct fashion. No offense to Musk, but much of his work provides no immediate impact on society currently, and it could be several decades before many of his inventions are not only discovered, but also even incorporated. Elon Musk told news reporters that human missions to Mars could began as early as 2025 (1), however, I'd venture to say that those benefits would not reach society until much later. Even so, the discoveries found are held in his own private hands, and if he were to wish it, he could sell those benefits for millions to billions of dollars. Many of his benefits would also most likely be expensive, especially in the beta phases, such as living on Mars. Furthermore, in class we've discussed the dangers of private ownership and business when it comes to philanthropy, and since big businesses and billionaires hold such influential stakes in society, and such high control over the ecosystem of society currently, I believe they ought to work to provide for society and especially their customers in the present. I feel as though if more resources were spent providing benefits to the now, those aided, could in turn provide more benefit to society. Musk's plans for the future are definitely needed, but what benefit could they truly provide if the society is in an even greater turmoil in the future anyway? If the many who need aid are left unaided, and their populations grow, then the benefits that he provides would probably not be very useful anyway. Surely something like solar energy can be useful, but how can that help a homeless man currently starving in the streets of Boston?
Businessmen must focus on bridging the gap between the two very different realms of living as well. Andrew Carnegie once said "The contrast between the palace of the millionaire and the cottage of the laborer with us today measures the change which has come with civilization" (2). Truly, if businessmen like Elon Musk would like to benefit society, they should take a close look at those around them. If they look closely, they can provide benefits that are not simply donations that Carnegie speaks of or long-term investments, but influences on others that will cause great changes in their person perspectives as well.
(1) http://arstechnica.com/science/2016/01/elon-musk-to-unveil-mars-plans-this-year-wants-to-go-to-space-by-2020/
(2) http://www.newyorker.com/business/currency/was-carnegie-right-about-philanthropy
This was a very exciting blog post to read because it is obvious that Elon Musk has a lot of power and also never fails to think outside of the box. If I had the same amount of money as Elon Musk I would probably also divide my money into the different interest that I have that relate to philanthropy and human needs. The first need I would address would be access to clean water for developing countries and areas where their are water shortages. The same types of brains that are used to create and develop SpaceX could also work to engineer wells and water systems that could work in these areas. I would also want to invest money in working to solve hunger problems around the world, starting with food desserts in the United States. I have had a lot of discussion about both these topics in my classes at Binghamton and I believe that they are both important issues to address, but it can be difficult to make a difference because it is hard to decide how to start.
ReplyDeleteI love Elon Musk because he has a knack for making things interesting. Space X was founded in 2002, 33 years after the US put a man on the moon. Public fascination with the cosmos was nowhere near where it was in the late 60s, nor was NASA's federal budget. Musk came along, founded a sleek, sexy company that offered jobs and renewed some of that lost excitement and enthusiasm around space. Likewise, he started Tesla, a company that took the unreliable and unexciting electric car and made it upscale and desirable. Neither of these companies are nonprofits, but I think this can be seen as a type of philanthropy in itself. Musk used his technical and business acumen to accelerate the development of technologies that will advance the human race. Even though he makes a profit off this and a lot of the sexiness of his products is a result of marketing, I still think that his contribution to humanity is a great one.
ReplyDeleteIf I had his net worth and influence, I would probably focus on two areas: energy and peace. Creating affordable and sustainable energy is vital to the continuation of the human race. We have the technology to provide the entire earth with renewable energy, but not the funding. It needs not only research to make it more affordable, but a boost in public opinion (e.g. stigmatizing fossil fuels, making renewables the moral option). Peace activism is also important, and money and influence can encourage governments and groups to build a more peaceful future. In many areas, we cannot solve issues of basic human rights until peace has been created.
Andrew, I really thought this post was well thought out and very interesting. I have recently watched a documentary about Musk and his pursuits to better man-kind and use his technological skills, wisdom, and wealth to improve the current state of our lacking sustainable world. In his words, he "doesn't want to be the last man on a sinking ship." I truly admire this because most men with his level of wealth plan to simply maximize and increase this wealth. He does not hold the patent to any of his inventions; he releases them to small businesses, companies, and entrepreneurs so that they can also use his technology to improve upon renewable energy, promote travel, and drive cleaner cars. I have no problems with his distribution of wealth because I feel that Musk is doing the most good and beyond with his resources and wealth.
ReplyDeleteI really enjoyed reading your post! Elon Musk is certainly an extremely interesting person and as you explained, his giving philosophy and the issues he aims to address are not things that are always thought about when we think about making a difference in the world. However, with his visionary drive and resources he is making a huge difference with many of his projects. In this article, http://www.businessinsider.com/larry-page-elon-musk-2014-3 the CEO of Google states that he would rather give his money to Elon Musk than to the traditional philanthropic organization, mainly because he believes that Musk and his corporations are changing the world and will be important in preserving our planet and humanity in the future. After all, if we don't have a sustainable planet to live on, humans' biggest issues won't be the hunger or poverty we spend billions each year trying to lessen, so I think that sustainability and environmental-focused philanthropy shouldn't be overlooked.
ReplyDeleteIf I had the resources and opportunity, I would want to make a difference in either finding sustainable energy sources or in medical research with cancer as both issues affect large populations of people and are becoming more prevalent in society.