So at Least Pierre Omidyar Is Trying to Change the World
Given my recent rants about Silicon Valley’s ratio of stinginess-to-wealth and the current trend against “changing the world,” it’s not a huge surprise that more blog posts and tweets were coming from Demo or the B-list-celebrity-studded 140-The Twitter Conference than at the Clinton Global Initiative summit that was also held this week in New York.
Techies who did follow the conference likely did so through the tweets and TwitPics of eBay founder Pierre Omidyar. After founding one of the biggest successes in Silicon Valley history Omidyar bucked the serial entrepreneur trend and turned to angel investing and do-gooding. At the conference he announced another big move: His philanthropic investment firm, The Omidyar Network, is committing $30 million towards backing high-impact entrepreneurs in emerging markets, specifically Sub-Saharan Africa and India.
It’s an interesting fill-the-gap strategy between mainstream venture capitalists looking to benefit from the emerging world’s booming demographics but frequently stymied by cultural and logistical challenges and micro-loans, which the Omidyar Network has already done a good deal of in these regions.
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