Unfair.
Astonishing.
Un-American.
That’s how tech entrepreneur Jeff Atwood sees the staggering wealth inequality within the U.S. today.
In response, he and his family have pledged to present away half their wealth inside five years, starting with $1 million gifts to eight nonprofits this month.
His warning concerning the dangers of growing inequity was echoed by outgoing President Joe Biden in his final primetime speech Wednesday.
“Today, an oligarchy is taking shape in America of utmost wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms, and a good shot for everybody to get ahead,” Biden said.
Atwood, who co-founded Stack Overflow, a preferred forum for software developers, made the pledge Jan. 7 in a blog post.
“The American dream isn’t about just getting wealthy. It’s about everyone succeeding,” said Atwood, in an interview with The Associated Press from his home within the Bay Area.
Atwood said the inequity reduces hope within the American dream, which he sees as the potential for being “rewarded handsomely for a mixture of exertions and good luck.”
Atwood’s initial gifts support a variety of nonprofits, from PEN America, which advocates without cost speech, to reproductive health organization Planned Parenthood to Team Rubicon, a disaster response organization.
“What’s unique about his donation is, it’s essentially built on trust,” said Art delaCruz, CEO of Team Rubicon, saying the gift had come out of the blue.
The commitment to present away half of his family’s wealth is unusual even among the many richest people.
And beyond giving his own money away, Atwood sincerely hopes to maneuver others to motion.
“I would like people to still consider that this is feasible,” he said of the American dream.
“Just like the land of opportunity, because I lived it. And it was such it was an incredible dream and I’m honored to have done it. But I actually have to share it.”
The sale of Stack Overflow for $1.6 billion in 2021 made Atwood, his co-founder and early employees wildly wealthy in comparison with the overwhelming majority of Americans, however it didn’t launch him into the inner ring of Silicon Valley’s titans.
In other words, he’s no billionaire.
Atwood didn’t wish to disclose exactly how much he planned to present away, though it’s protected to say he has tens of thousands and thousands more lined as much as donate.
But what he really wants is to encourage more people to consider that it’s possible to create a cheaper and livable economy.
“I would like everyone to feel like they will do something because there’s plenty of hopelessness on the market — like, ‘We’re just so screwed. There’s nothing we are able to do’,” he said.
Deborah Small, a professor at Yale School of Management, said there’s a risk of looking such as you’re burnishing your popularity and virtue signaling by talking about your giving.
But it may also help increase your impact by influencing others to present.
“If we wish to extend philanthropy on the planet, our evidence suggests that the more public we’re, the higher outcomes we are able to achieve for philanthropy,” she said.
Writing on his long-running blog, “Coding Horror,” Atwood also pointed to the plurality of Americans who don’t vote as an indication of the deterioration of American’s faith in the longer term.
He said the recent election had raised the stakes but was quick to emphasise in an interview that he’s not committed to any political party.
“I like good leaders. I don’t care what you’re ideology is. What I care about is, are you creating humans that might help us construct a greater world? And people are the organizations I support,” he said.
In pledging to present away half of his wealth, Atwood is following within the footsteps of a gaggle of even wealthier people.
In 2010, Warren Buffett, Bill Gates and Melinda French Gates began the Giving Pledge, which invites billionaires — exclusively — to commit to giving freely greater than half of their wealth of their lifetimes or on the time of their death. Up to now, 244 have joined.
Atwood said he was inspired by the pledge but is adding a time element of 5 years to maneuver the cash.
One other pledge began by leaders within the effective altruism movement invites anyone to vow to present away 10% of their income annually to charities they define as effective.
Since 2009, the group that sponsors the pledge, Giving What We Can, reports greater than 9,500 people have signed on.
Atwood spoke earnestly about his dedication to the United State’s founding ideals as set out by Thomas Jefferson.
He attended the University of Virginia, which Jefferson founded, and wrote about scraping together his tuition through part-time jobs. In his blog post announcing the donations, Atwood also referenced the 1967 novel “The Outsiders,” by S.E. Hinton, and particularly, a recitation of the Robert Frost poem, “Nothing Gold Can Stay.”
Atwood said he saw it as “a meditation on retaining our youthful ideals despite the fleeting nature of life.”
He said he selected giving freely half his wealth because that seemed fair.
“Whenever you get to this level of wealth, you actually see how difficult it’s for everybody else and it’s unfair,” Atwood said.
“And a few unfairness is okay. I’m not saying we’re socialists here. I’m not in anyway saying that, but I would like everyone to have a good shot. I believe that’s right. That’s the best way it ought to be. Everyone must have a likelihood.”
Unfair.
Astonishing.
Un-American.
That’s how tech entrepreneur Jeff Atwood sees the staggering wealth inequality within the U.S. today.
In response, he and his family have pledged to present away half their wealth inside five years, starting with $1 million gifts to eight nonprofits this month.
His warning concerning the dangers of growing inequity was echoed by outgoing President Joe Biden in his final primetime speech Wednesday.
“Today, an oligarchy is taking shape in America of utmost wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms, and a good shot for everybody to get ahead,” Biden said.
Atwood, who co-founded Stack Overflow, a preferred forum for software developers, made the pledge Jan. 7 in a blog post.
“The American dream isn’t about just getting wealthy. It’s about everyone succeeding,” said Atwood, in an interview with The Associated Press from his home within the Bay Area.
Atwood said the inequity reduces hope within the American dream, which he sees as the potential for being “rewarded handsomely for a mixture of exertions and good luck.”
Atwood’s initial gifts support a variety of nonprofits, from PEN America, which advocates without cost speech, to reproductive health organization Planned Parenthood to Team Rubicon, a disaster response organization.
“What’s unique about his donation is, it’s essentially built on trust,” said Art delaCruz, CEO of Team Rubicon, saying the gift had come out of the blue.
The commitment to present away half of his family’s wealth is unusual even among the many richest people.
And beyond giving his own money away, Atwood sincerely hopes to maneuver others to motion.
“I would like people to still consider that this is feasible,” he said of the American dream.
“Just like the land of opportunity, because I lived it. And it was such it was an incredible dream and I’m honored to have done it. But I actually have to share it.”
The sale of Stack Overflow for $1.6 billion in 2021 made Atwood, his co-founder and early employees wildly wealthy in comparison with the overwhelming majority of Americans, however it didn’t launch him into the inner ring of Silicon Valley’s titans.
In other words, he’s no billionaire.
Atwood didn’t wish to disclose exactly how much he planned to present away, though it’s protected to say he has tens of thousands and thousands more lined as much as donate.
But what he really wants is to encourage more people to consider that it’s possible to create a cheaper and livable economy.
“I would like everyone to feel like they will do something because there’s plenty of hopelessness on the market — like, ‘We’re just so screwed. There’s nothing we are able to do’,” he said.
Deborah Small, a professor at Yale School of Management, said there’s a risk of looking such as you’re burnishing your popularity and virtue signaling by talking about your giving.
But it may also help increase your impact by influencing others to present.
“If we wish to extend philanthropy on the planet, our evidence suggests that the more public we’re, the higher outcomes we are able to achieve for philanthropy,” she said.
Writing on his long-running blog, “Coding Horror,” Atwood also pointed to the plurality of Americans who don’t vote as an indication of the deterioration of American’s faith in the longer term.
He said the recent election had raised the stakes but was quick to emphasise in an interview that he’s not committed to any political party.
“I like good leaders. I don’t care what you’re ideology is. What I care about is, are you creating humans that might help us construct a greater world? And people are the organizations I support,” he said.
In pledging to present away half of his wealth, Atwood is following within the footsteps of a gaggle of even wealthier people.
In 2010, Warren Buffett, Bill Gates and Melinda French Gates began the Giving Pledge, which invites billionaires — exclusively — to commit to giving freely greater than half of their wealth of their lifetimes or on the time of their death. Up to now, 244 have joined.
Atwood said he was inspired by the pledge but is adding a time element of 5 years to maneuver the cash.
One other pledge began by leaders within the effective altruism movement invites anyone to vow to present away 10% of their income annually to charities they define as effective.
Since 2009, the group that sponsors the pledge, Giving What We Can, reports greater than 9,500 people have signed on.
Atwood spoke earnestly about his dedication to the United State’s founding ideals as set out by Thomas Jefferson.
He attended the University of Virginia, which Jefferson founded, and wrote about scraping together his tuition through part-time jobs. In his blog post announcing the donations, Atwood also referenced the 1967 novel “The Outsiders,” by S.E. Hinton, and particularly, a recitation of the Robert Frost poem, “Nothing Gold Can Stay.”
Atwood said he saw it as “a meditation on retaining our youthful ideals despite the fleeting nature of life.”
He said he selected giving freely half his wealth because that seemed fair.
“Whenever you get to this level of wealth, you actually see how difficult it’s for everybody else and it’s unfair,” Atwood said.
“And a few unfairness is okay. I’m not saying we’re socialists here. I’m not in anyway saying that, but I would like everyone to have a good shot. I believe that’s right. That’s the best way it ought to be. Everyone must have a likelihood.”
