Citywealth Weekly published an article on how entrepreneurs are disrupting philanthropy. Katya Vagner, an Associate from the firm's Private department commented on how a higher risk tolerance and confident use of modern technologies such as cryptocurrency and blockchain make entrepreneurs effective philanthropists and create more direct and transparent giving.
“Not being fazed by the fear of failure, entrepreneurs are often looking for faster results which can mean more testing of projects. Because of their mindset, they are more likely to be involved in riskier projects, which traditional charities may be too cautious to touch. This approach also means coming up with breakthrough solutions using software or technology. However, not all projects are suited to such a mind-set and if entrepreneurs don’t see the desired results, they are more likely to accept failure and move on”.
“It can only be hoped that others, including traditional businesses, will learn from entrepreneurs and will actively seek opportunities that allow them to do business and do good at the same time.”
Read the full article here.