Monday, April 16, 2007

Responsibility is in their sites / Web entrepreneurs have an eye on social need -- not personal greed

Responsibility is in their sites / Web entrepreneurs have an eye on social need -- not personal greed: "In some senses, these entrepreneurs are fusing '60s consciousness and activism with '80s market savvy. In the process, they are creating a hybrid which is the best of those polar opposites,' said Paul Frankel, an investor who lectures on social entrepreneurship at UC Berkeley's Haas School of Business.

The practice has precedent. EBay founder Pierre Omidyar has dedicated much of his fortune to helping for-profits and nonprofits alike discover their power to do good. And Google has evolved a novel brand of philanthropy, setting up a foundation without tax-exempt status so it can invest in for-profit as well as nonprofit groups."

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