Frame philanthropic efforts not just by direct impact but as a "real-world MBA." Prioritize projects where, even if they fail, you acquire valuable skills and relationships. This heuristic, borrowed from for-profit investing, ensures a personal return on investment and sustained engagement regardless of the outcome.
Viewing customer relationships through a strict Return on Investment (ROI) lens creates a toxic, transactional dynamic. A "Desire to Invest" (DTI) model prioritizes building genuine, long-term connections and empathy, much like a healthy human relationship, rather than tracking a ledger of exchanges.
Ambitious graduates shouldn't join the organization doing the most good in year one, but rather the one that best equips them with skills and networks. This builds "career capital" that prepares them to achieve far greater impact in years 10, 20, and 30 of their careers.
Frame your initial angel investments as a sunk cost, like business school tuition. Instead of optimizing for immediate financial returns, focus on building relationships, acquiring skills, and developing a strong reputation. This long-term mindset reduces pressure and leads to better, unforeseen opportunities down the line.
The most effective masterminds consist of people from different industries and business stages. This diversity prevents direct comparison and fosters richer insights. The crucial factor for curation isn't similar resumes but shared values like generosity, honesty, and a willingness to learn. Energy alignment trumps expertise alignment.
The best long-term strategy isn't the one with the highest short-term growth, but the one you're genuinely passionate about. This intrinsic motivation leads to sustained effort and eventual success, even if it seems suboptimal initially. It's about playing the long game fueled by passion, not just metrics.
Instead of introspective searching for your passion, find a "Gandalf"—an expert who has already identified the world's most pressing problems. Attach yourself to their mission. This provides a clear, high-impact path for those who want to do good but are unsure where to start.
To win highly sought-after deals, growth investors must build relationships years in advance. This involves providing tangible help with hiring, customer introductions, and strategic advice, effectively acting as an investor long before deploying capital.
CZI focuses on creating new tools for science, a 10-15 year process that's often underfunded. Instead of just giving grants, they build and operate their own institutes, physically co-locating scientists and engineers to accelerate breakthroughs in areas traditional funding misses.
A critical flaw in philanthropy is the donor's need for control, which manifests as funding specific, personal projects instead of providing unrestricted capital to build lasting institutions. Lasting impact comes from empowering capable organizations, not from micromanaging project-based grants.
A project that fails financially can still yield your most valuable opportunities. Tim Ferriss's advisory work for StumbleUpon was a "zero," but the strong relationship he built with its founder led directly to his role as an early advisor at Uber. Optimize for relationships, as they transcend any single project's outcome.