Twitter CEO Jack Dorsey Donating $1 Billion of His Equity in Square to COVID-19 Relief Efforts

[Recursion]

https://variety.com/2020/digital/news/jack-dorsey-donating-1-billion-of-his-equity-in-square-to-covid-19-relief-efforts-1234573680/

Jack Dorsey, CEO of Twitter and payments company Square, said he is moving $1 billion of his equity in Square to fund COVID-19 relief efforts and eventually other causes.

Dorsey, who has a net worth of about $3.3 billion according to Forbes, announced the plan Tuesday on Twitter. He said the $1 billion represents about 28% of his wealth. The funds will be distributed through his Start Small LLC charitable fund.

...

According to a Google Doc that Dorsey set up to disclose his donations, the first funding he contributed was $100,000 on April 2 to America’s Food Fund, an initiative launched by Leonardo DiCaprio, Apple, Laurene Powell Jobs, and the Ford Foundation and backed by Oprah Winfrey to provide food to those in need during the coronavirus crisis.

Dorsey said that “After we disarm this pandemic,” the focus of the fund will shift to two other causes: girl’s health and education and universal basic income (UBI). That’s because “I believe they represent the best long-term solutions to the existential problems facing the world,” he wrote. “UBI is a great idea needing experimentation. Girl’s health and education is critical to balance.”

A little lagniappe for the Yang Gang at the end there

[S.E. TN Liberal]

1. UBI could...

...
-virtually eliminate poverty,

-end the need for unemployment insurance,

-give businesses a boost with more customers,

-end the need for Welfare,

-cut homelessness to nearly zero,

-allow you to survive if you tell your asshole boss to shove his head into the toilet and happen to get fired for doing so, (that single reason ought to get all working people behind UBI),

-let mothers, or dads choose to stay home for the kids,

-let more people use their time to work at charites,

-allow more people to work on; writing books, starting new businesses, painting pictures, writing songs/making music, working on new inventions,


-let more people get their education, which in turn will help some create new businesses and help existing businesses find educated workers,

-reduce crime, the need for so many prisons, and the need for so many cops, judges, and jailhouse workers...

As more and more Americans face losing jobs to Amazon/mail-order businesses, robots, and foreign imports, some idea has to come along to avoid plunging the country into a nation of those who have and those who don’t, which will turn this country into a republican’t paradise, just another third-world economy.

[Celerity]

2. and all those reasons are why the Rethugs will never let it pass, plus some will go to cohorts they

hate and want to kill off. ie. people of colour, vast parts of the poor and homeless, LGBTQ folk, and non Republican men, women, and children (especially women in general for that last 3 groups, and Republican or not, as UBI would help millions to leave their fundie, racist, misogynistic thug partners.)

[lostnfound]

3. Help with mental health.nt

[Bernardo de La Paz]

4. Absolutely. Works in places it's been tried. . . . nt