Large business houses mixing business & charity through trusts!
Nobody can be a little pregnant.
Azim Premji managed technology services poorly while he could've leveraged his early mover advantage, to raise the bar.
Now, @RishadPremji & @TDelaporte are scratching their heads & struggling to fix the mess.
In the meantime, he's frittering away his wealth over suboptimal initiatives.
Perhaps, he became too cynical while managing his business or he couldn't have known better.
However, he ought to invest his wealth in transformative initiatives.
Even @tatatrusts didn't cover themselves in glory.
Outcome(@reliancejio, .. @UIDAI #RTI) & not outflow is the key.
Wipro is into software services business.
So, logically, their philanthrophic initiatives should be in related area
For instance, they could patronize & lead India's opensource movement from the front
Or, digitize quality education & make it available free for everyone.
By the way, dividing one's total contribution for charity in a year by 365 & stating ₹27 crores as daily contribution is a smart technique to #amplify one's total contribution.
In reality, it adds upto ₹9,855 crores per annum & is being apportioned from the promoter's profits.
We don't have any personal axe to grind against anyone.
The Americans have high regard for @RockefellerFdn.
In India, many including @MoneylifeIndia @Moneylifers only have kind words for @tatatrusts @RNTata2000
However, such mixing of business & charity entail substantial cost.
We could be in a minority of one & 100% wrong.
However, we believe, trusts have become the ideal mechanism to grow & immortalise one's business.
Further, such mixing of charity & business deprive free-markets of their teeth, capacity to optimise resources & sabotage free-markets.
Be that as it may, we aren't building a case against charity.
That's never the intent.
Our limited contention is, while everyone is welcome to do charity, mixing business & charity by retaining control of underlying buainess through trusts & merely passing profits thereof ain't right.
Kindly peruse our business interests here.