After selling his first business 15 years ago, David Goldberg became obsessed with the idea of making it absurdly easy for entrepreneurs to have an outsized social impact. This led to the creation of Founders Pledge, a community of experienced entrepreneurs who have now collectively pledged over $10 billion to charities. In this episode, he guides us on how to think about our post-exit impact in a rational and authentic way.
👤 LinkedIn: https://www.linkedin.com/in/davidjonathangoldberg?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app
🖥️ Founders Pledge: https://www.founderspledge.com/
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Timestamps:
00:01:08: The Purpose of Life and Time
00:03:29: Drive and Work Ethic
00:03:42: David's thoughts on Identity
00:05:16: Secrets to a Successful Romantic Relationship
00:06:00: What keeps David up at night
00:07:56: Waking up Motivation
00:08:30: How David wants to be Remembered
00:08:44: Parent's Expectations
00:10:02: Value of Formal Education and Start of Career
00:13:36: David's First Business
00:17:15: Developing Communication Skills
00:18:20: The moment of Business Exit
00:19:44: Motivation for the First Business
00:20:10: Changes after Business Selling
00:20:40: Upbringing and "winning the life lottery"
00:21:31: Decision to do more than amass wealth
00:22:28: Challenges and obstacles in philanthropy efforts
00:24:07: Journey to discover true purpose
00:24:38: Process and experience of self-growth
00:26:26: Learning to think critically through formal education
00:30:03: Undergoing the cultural shift of studying abroad
00:32:05: Founders Forum group and understanding real poverty
00:33:22: Redefining success after selling first business
00:35:57: Encountering true poverty in Southeast Asia
00:37:09: Using resources effectively for maximum impact
00:37:49: The problem of "poverty tourism"
00:39:09: How compassion plays a role in business success
00:40:31: Introduction to Founders Forum and efforts to help social entrepreneurs
00:41:04: Reasons why the initial idea didn't work.
00:42:08: Evaluating the potential of startups
00:42:27: The challenge of execution in social businesses
00:43:06: Pivoting to support commercial entrepreneurs
00:45:10: Founders Pledge
00:47:23: The relationship with Founders Forum
00:50:31: Aim to give effectively in Founders Pledge
00:52:06: Resolving the problem of global donations
00:55:02: Funding model of Founders Pledge
00:56:56: The reality of Donor Advised Funds
01:00:06: The challenge of raising funds annually
01:02:20: Focus on impact in Founders Pledge
01:03:33: Present commitments and funds injected in Founders Pledge.
01:04:29: Scaling up 01:05:32: Mental health as a neglected area
01:06:17: Introduction of non-profit working on mental health treatment in Africa
01:07:35: Effects on post-exit journey of founders who pledged
01:08:02: Role of philanthropy after exit
01:11:36: Introduction to Founders Pledge
01:15:02: The spiritual journey through Founders Pledge
01:15:43: Introduction to Pledge Ventures
01:18:02: Rules and initial fundraising for Pledge Ventures
01:20:53: Commencement of investment through Pledge Ventures
01:25:05: Introduction to the Foundry program
01:25:54: Bespoke research programs for larger sums of yearly philanthropy.
01:26:03: The Order of Giving and the Importance of Knowledge
01:26:41: The Foundry Program
01:27:26: Partners, not Clients
01:28:07: Improving The Efficiency of Giving
01:29:19: Transparency in Philanthropy
01:30:00: Aligned Incentives with Members and Issues with Charities
01:31:03: The Importance of Community in Philanthropy
01:32:04: Future Impact and Growth of the Organization
01:32:46: Efficiency and Control in Giving
01:33:18: Pledges and Donations: Freedom of Choice
01:34:03: The Organization’s Differentiating Factors
01:35:11: Final Words
