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New this AM: Tech giants are giving away hundreds of millions of dollars in corporate philanthropy. Anything helps, yes. But experts say that companies like Google & Cisco should be donating cash, not their products. "Can’t make payroll on ad credits."https://www.vox.com/recode/2020/3/31/21197652/coronavirus-philanthrophy-donations-google-cisco …
It is easy to gloss over the details and draw a snap, gushing judgment when you see references to hundreds of millions of dollars. But for people that are living on life’s edge, this isn’t some academic question. HOW the money is given really matters.https://www.vox.com/recode/2020/3/31/21197652/coronavirus-philanthrophy-donations-google-cisco …
When Google announces "$800 million" in donations, what does that really mean? “Most organizations are trying to show you the largest number possible,” Sonal Shah, a former Google philanthropy executive, told me. “The wording is very carefully crafted.”https://www.vox.com/recode/2020/3/31/21197652/coronavirus-philanthrophy-donations-google-cisco …
The person who oversaw Microsoft’s corporate philanthropy for a decade tells me that he believes TIKTOK has made “far more valuable” donations to combat COVID than Cisco has. Cisco claimed to donate 22 times as much money as TikTok did.https://www.vox.com/recode/2020/3/31/21197652/coronavirus-philanthrophy-donations-google-cisco …
Oh hey, I have a novel idea... Why don't they just pay their fair share of taxes?
Yea. Up side for them is that they can also deduct as charity. They know the angles.
Is this something tech was first to do or does uniquely?
I talk about Wells Fargo in the story — the answer is no. But the biggest public commitments have been from tech companies.
stop this, they giving something
How do Silicon Valley companies come up with the "value" of their product that they are donating? It's supposed to be science but it's not. One corporate philanthropy expert at tech companies said that they often assigned the “highest defendable amount.”https://www.vox.com/recode/2020/3/31/21197652/coronavirus-philanthrophy-donations-google-cisco …
That being said, this shit works. Lots of stories on Friday referenced Google's "$800 million donation." And that PR and goodwill can help Google down the line. "Any company that wants to stand up and beat its chest has to be prepared to back it up."https://www.vox.com/recode/2020/3/31/21197652/coronavirus-philanthrophy-donations-google-cisco …
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