‘Shark Tank’: Why Mark Cuban invested $600,000 into a business that turns human ashes into diamonds

Billionaire Mark Cuban is known for his tech investments — but on Sunday’s “Shark Tank,” Cuban diversified in a unique way. Cuban invested six figures in Eterneva, a business that turns human or animal ashes or hair into diamonds. “What we do is grow real diamonds from the carbon in someone’s ashes,” Garrett Ozar, who co-founded the company with Adelle Archer, said during the episode. According to Archer and Ozar, customers receive a “welcome kit,” which includes a small container for a half-cup


Billionaire Mark Cuban is known for his tech investments — but on Sunday’s “Shark Tank,” Cuban diversified in a unique way. Cuban invested six figures in Eterneva, a business that turns human or animal ashes or hair into diamonds. “What we do is grow real diamonds from the carbon in someone’s ashes,” Garrett Ozar, who co-founded the company with Adelle Archer, said during the episode. According to Archer and Ozar, customers receive a “welcome kit,” which includes a small container for a half-cup
‘Shark Tank’: Why Mark Cuban invested $600,000 into a business that turns human ashes into diamonds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: taylor locke
Keywords: news, cnbc, companies, business, human, invested, ashes, shark, archer, ozar, hair, turns, diamonds, cuban, tank, mark, customers, carbon, high, eterneva


'Shark Tank': Why Mark Cuban invested $600,000 into a business that turns human ashes into diamonds

Billionaire Mark Cuban is known for his tech investments — but on Sunday’s “Shark Tank,” Cuban diversified in a unique way.

Cuban invested six figures in Eterneva, a business that turns human or animal ashes or hair into diamonds.

“What we do is grow real diamonds from the carbon in someone’s ashes,” Garrett Ozar, who co-founded the company with Adelle Archer, said during the episode. “But really, we’re in the business of celebrating remarkable people. Our diamonds give you something positive to look forward to.”

According to Archer and Ozar, customers receive a “welcome kit,” which includes a small container for a half-cup of ashes or hair. Customers then send that back to Eterneva. Customers also pick the diamond of their liking.

Then “we extract carbon from a half a cup of ashes or hair,” Ozar said during the episode. “Once we have carbon, we then use high pressure, high temperature to grow a diamond.”

The prices of these diamonds range from $3,000 to $20,000, according to Archer. She said the average order value is $8,000, and customers “pay upfront, in full.”

“That’s smart,” Cuban said.

It takes 10 months to make the diamond, and it costs Eterneva between $3,000 to $5,000 to make.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: taylor locke
Keywords: news, cnbc, companies, business, human, invested, ashes, shark, archer, ozar, hair, turns, diamonds, cuban, tank, mark, customers, carbon, high, eterneva


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Mark Cuban: This is the ‘biggest mistake’ people make when starting a business

That’s according to tech billionaire Mark Cuban, who told Ryan Seacrest the “biggest mistake” an entrepreneur can make when launching a new business. “I think the biggest mistake people make is once they have an idea and the goal of starting a business, they think they have to raise money,” Cuban said on Thursday’s episode of Seacrest’s podcast “On Air.” “And once you raise money, that’s not an accomplishment, that’s an obligation,” because “now, you’re reporting to whoever you raised money from


That’s according to tech billionaire Mark Cuban, who told Ryan Seacrest the “biggest mistake” an entrepreneur can make when launching a new business. “I think the biggest mistake people make is once they have an idea and the goal of starting a business, they think they have to raise money,” Cuban said on Thursday’s episode of Seacrest’s podcast “On Air.” “And once you raise money, that’s not an accomplishment, that’s an obligation,” because “now, you’re reporting to whoever you raised money from
Mark Cuban: This is the ‘biggest mistake’ people make when starting a business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: tom huddleston jr
Keywords: news, cnbc, companies, money, order, mistake, biggest, start, business, thats, raise, outside, investors, think, starting, mark, cuban


Mark Cuban: This is the 'biggest mistake' people make when starting a business

A little self-reliance can go a long way for entrepreneurs.

That’s according to tech billionaire Mark Cuban, who told Ryan Seacrest the “biggest mistake” an entrepreneur can make when launching a new business.

“I think the biggest mistake people make is once they have an idea and the goal of starting a business, they think they have to raise money,” Cuban said on Thursday’s episode of Seacrest’s podcast “On Air.”

“And once you raise money, that’s not an accomplishment, that’s an obligation,” because “now, you’re reporting to whoever you raised money from.”

Cuban says entrepreneurs who rely on outside funding can become too beholden to the interests of their investors, who might have a different idea of how to grow the business.

“If you can start on your own … do it by [yourself] without having to go out and raise money,” Cuban tells Seacrest.

Business experts and entrepreneurs often argue the pros and cons of raising outside money to start a business versus self-funding (aka “bootstrapping”), the latter of which can typically involve sinking the founders’ personal savings into a new venture and can result in slower growth if the business is reliant on slowly increasing revenue in order to expand.

While fundraising injects much-needed capital into a nascent startup, taking on outside investors can also bring pressure from those investors to grow the company faster than might be healthy in the long-run in order to create an immediate return on their investment.


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: tom huddleston jr
Keywords: news, cnbc, companies, money, order, mistake, biggest, start, business, thats, raise, outside, investors, think, starting, mark, cuban


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Mark Zuckerberg says brain-reading wearables are coming, but certain functions may require implanted devices

Mark Zuckerberg said on Thursday that he wants to work on brain-controlling wearable and implantable technology, and Facebook’s recent acquisition of CTRL-labs was a step in that direction. The company is working on a wristband that will allow people to control devices based on signals from their spinal cord. Upon completion of the deal, CTRL-labs will join Facebook Reality Labs, which is working to develop augmented-reality smart glasses. Zuckerberg, DeRisi and Quake were chatting as part of th


Mark Zuckerberg said on Thursday that he wants to work on brain-controlling wearable and implantable technology, and Facebook’s recent acquisition of CTRL-labs was a step in that direction. The company is working on a wristband that will allow people to control devices based on signals from their spinal cord. Upon completion of the deal, CTRL-labs will join Facebook Reality Labs, which is working to develop augmented-reality smart glasses. Zuckerberg, DeRisi and Quake were chatting as part of th
Mark Zuckerberg says brain-reading wearables are coming, but certain functions may require implanted devices Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: salvador rodriguez
Keywords: news, cnbc, companies, zuckerberg, functions, implanted, require, technology, reality, devices, implantable, wearables, coming, mark, brainreading, quake, certain, working, derisi, ctrllabs, speech, facebook


Mark Zuckerberg says brain-reading wearables are coming, but certain functions may require implanted devices

Mark Zuckerberg said on Thursday that he wants to work on brain-controlling wearable and implantable technology, and Facebook’s recent acquisition of CTRL-labs was a step in that direction.

“The goal is to eventually make it so that you can think something and control something in virtual or augmented reality,” said Zuckerberg, in a conversation with Dr. Joe DeRisi and Dr. Steve Quake of the Chan Zuckerberg BioHub, a Bay Area-based research center backed by the Facebook CEO and his wife, Priscilla Chan.

Facebook agreed to acquire CTRL-Labs last month for between $500 million and $1 billion, making it one of the social network’s biggest purchases. The company is working on a wristband that will allow people to control devices based on signals from their spinal cord. Upon completion of the deal, CTRL-labs will join Facebook Reality Labs, which is working to develop augmented-reality smart glasses.

Zuckerberg, DeRisi and Quake were chatting as part of the Facebook CEO’s series of discussions focused on the future of technology and society. Throughout the conversation, they touched on the challenges and advantages of using implanted technology to read a human’s neurons. Quake said there are health risks involved with implantable technology, while DeRisi pointed out that implantables can decode real-time inner speech that could help people with limited physical or speech abilities from a stroke, for example.


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: salvador rodriguez
Keywords: news, cnbc, companies, zuckerberg, functions, implanted, require, technology, reality, devices, implantable, wearables, coming, mark, brainreading, quake, certain, working, derisi, ctrllabs, speech, facebook


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The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up

Siu Rui Quek had always been entrepreneurial. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell


Siu Rui Quek had always been entrepreneurial. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell
The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: karen gilchrist
Keywords: news, cnbc, companies, students, mentor, jack, zuckerberg, inspired, multimillion, siu, startup, technology, know, dorsey, mark, lesson, rui, build, big, online, quek


The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up

Siu Rui Quek had always been entrepreneurial. As a teen, he would fuel his passion for technology and earn extra cash buying and selling gadgets online. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. That lesson? Know your mission. Quek is co-founder and CEO of $550 million online consumer marketplace Carousell. He started the business with his college friends Marcus Tan and Lucas Ngoo back in 2012 after they were inspired by talks from the top tech talents during an internship in Silicon Valley. And, even today, he says those presentations played a vital role in shaping Carousell’s success.

I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Siu Rui Quek co-founder and CEO, Carousell

“The one thing that we really learned and took away,” Quek told CNBC Make It, “is to be absolutely mission-oriented and mission-first.” “This idea of being mission-first just helps people transcend personal egos (and) helps create collaboration,” he said. To be sure, the founders did not mentor Quek and his friends directly. “I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way — I know him but he doesn’t know me,” Quek said.

Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. Carousell

But, by watching their presentations and studying their style, Quek said he and his co-founders were inspired to think about the big picture and how they could use technology to solve big issues. “I think the one commonality all of them had was just this whole fascination for using technology to solve problems and make a big impact,” said Quek. For Carousell, that meant building a platform to simplify buying and selling online, which, Quek said, plays into the company’s wider mission to “inspire every person in the world to start selling.”

You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: karen gilchrist
Keywords: news, cnbc, companies, students, mentor, jack, zuckerberg, inspired, multimillion, siu, startup, technology, know, dorsey, mark, lesson, rui, build, big, online, quek


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Mark Zuckerberg to testify before Congress on Facebook’s libra cryptocurrency

Facebook CEO Mark Zuckerberg will testify before the House Financial Services Committee this month, the committee announced Wednesday. ET, entitled “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors.” House members had been pushing for Zuckerberg to testify on Facebook’s cryptocurrency plans as the committee had been in talks with his COO, Sheryl Sandberg, about testifying, CNBC reported last week. Committee Chairwoman Maxine Waters, D-Calif., previously req


Facebook CEO Mark Zuckerberg will testify before the House Financial Services Committee this month, the committee announced Wednesday. ET, entitled “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors.” House members had been pushing for Zuckerberg to testify on Facebook’s cryptocurrency plans as the committee had been in talks with his COO, Sheryl Sandberg, about testifying, CNBC reported last week. Committee Chairwoman Maxine Waters, D-Calif., previously req
Mark Zuckerberg to testify before Congress on Facebook’s libra cryptocurrency Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: lauren feiner mary catherine wellons, lauren feiner, mary catherine wellons
Keywords: news, cnbc, companies, facebook, lawmakers, zuckerberg, services, hearing, facebooks, financial, committee, congress, house, libra, testify, mark, cryptocurrency


Mark Zuckerberg to testify before Congress on Facebook's libra cryptocurrency

Facebook CEO Mark Zuckerberg will testify before the House Financial Services Committee this month, the committee announced Wednesday.

Zuckerberg will be the only witness at a hearing, which is scheduled for Oct. 23 at 10 a.m. ET, entitled “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors.” House members had been pushing for Zuckerberg to testify on Facebook’s cryptocurrency plans as the committee had been in talks with his COO, Sheryl Sandberg, about testifying, CNBC reported last week.

Committee Chairwoman Maxine Waters, D-Calif., previously requested Facebook halt implementation of the libra cryptocurrency ahead of a July hearing with the project’s lead. Waters later seemed dissatisfied with the lack of commitment from David Marcus, Facebook’s crypto chief, to postponing the company’s plans.

Since then, a number of international authorities have expressed concern over libra and one of the project’s original backers, PayPal, has dropped out. Other corporate backers like Visa and Mastercard are also reconsidering their roles, The Wall Street Journal reported. On Tuesday, two members of the Senate Banking Committee sent letters to the CEOs of Visa, Mastercard and Stripe to urge them to “carefully consider how your company will manage” the risks of the libra project before proceeding.

The hearing will be a rare chance for lawmakers to grill the Facebook chief in public. Zuckerberg recently returned to D.C. for his first official visit since his 2018 testimonies over the Cambridge Analytica scandal. But Zuckerberg only talked with lawmakers behind closed doors on that trip.

Zuckerberg’s agreement to testify with lawmakers marks a shift. In a recording of a July staff meeting obtained by The Verge, Zuckerberg told employees he has refused to testify in front of some foreign governments because “it just doesn’t really make sense for me to go to hearings in every single country that wants to have me show up.”

Zuckerberg’s meetings with lawmakers focused on the future of internet regulation, which poses a threat to Facebook’s core business. His willingness to meet representatives on their turf showed, as he has previously expressed, that he accepts regulation is coming and wants to be part of the conversation.

The testimony could also play an important role in the multiple antitrust investigations Facebook is currently facing. The company is under review by investigators at the Federal Trade Commission, a coalition of state attorneys general and the House Judiciary Committee for its competitive practices.

“Mark looks forward to testifying before the House Financial Services Committee and responding to lawmakers’ questions,” a Facebook spokesperson said.

WATCH: FB’s Marcus: There will be no special privilege for Facebook with Libra


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: lauren feiner mary catherine wellons, lauren feiner, mary catherine wellons
Keywords: news, cnbc, companies, facebook, lawmakers, zuckerberg, services, hearing, facebooks, financial, committee, congress, house, libra, testify, mark, cryptocurrency


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Facebook CEO Mark Zuckerberg to testify before Congress

Facebook CEO Mark Zuckerberg to testify before Congress2 Hours AgoCNBC’s Ylan Mui reports on news that Facebook CEO Mark Zuckerberg will testify before Congress on Facebook’s cryptoasset Libra.


Facebook CEO Mark Zuckerberg to testify before Congress2 Hours AgoCNBC’s Ylan Mui reports on news that Facebook CEO Mark Zuckerberg will testify before Congress on Facebook’s cryptoasset Libra.
Facebook CEO Mark Zuckerberg to testify before Congress Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09
Keywords: news, cnbc, companies, facebook, zuckerberg, mui, reports, congress, hours, ylan, libra, testify, ceo, mark


Facebook CEO Mark Zuckerberg to testify before Congress

Facebook CEO Mark Zuckerberg to testify before Congress

2 Hours Ago

CNBC’s Ylan Mui reports on news that Facebook CEO Mark Zuckerberg will testify before Congress on Facebook’s cryptoasset Libra.


Company: cnbc, Activity: cnbc, Date: 2019-10-09
Keywords: news, cnbc, companies, facebook, zuckerberg, mui, reports, congress, hours, ylan, libra, testify, ceo, mark


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Bed Bath & Beyond taps former Target exec Mark Tritton as president, CEO, stock soars 21%

Shares of Bed Bath & Beyond spiked more than 21% in extended trading on Wednesday after the company announced Mark Tritton would become its new president and CEO effective Nov. 4. Tritton will join Bed Bath & Beyond from Target, where he most recently acted as executive vice president and chief merchandising officer. He was instrumental in making shopping at Target seamless for customers whether they were in store or purchasing items online. He also led many of Target’s recent store revamps, suc


Shares of Bed Bath & Beyond spiked more than 21% in extended trading on Wednesday after the company announced Mark Tritton would become its new president and CEO effective Nov. 4. Tritton will join Bed Bath & Beyond from Target, where he most recently acted as executive vice president and chief merchandising officer. He was instrumental in making shopping at Target seamless for customers whether they were in store or purchasing items online. He also led many of Target’s recent store revamps, suc
Bed Bath & Beyond taps former Target exec Mark Tritton as president, CEO, stock soars 21% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: sarah whitten
Keywords: news, cnbc, companies, target, bed, soars, tritton, store, vines, bath, stock, president, vineyard, exec, ceo, mark, vice, company, taps


Bed Bath & Beyond taps former Target exec Mark Tritton as president, CEO, stock soars 21%

Shares of Bed Bath & Beyond spiked more than 21% in extended trading on Wednesday after the company announced Mark Tritton would become its new president and CEO effective Nov. 4.

Tritton will join Bed Bath & Beyond from Target, where he most recently acted as executive vice president and chief merchandising officer. He was instrumental in making shopping at Target seamless for customers whether they were in store or purchasing items online.

He also led many of Target’s recent store revamps, such as introducing private-label products and helping the company secure collaborations with big-name brands such as Vineyard Vines and Hunter Boots.


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: sarah whitten
Keywords: news, cnbc, companies, target, bed, soars, tritton, store, vines, bath, stock, president, vineyard, exec, ceo, mark, vice, company, taps


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Why this plant-based meat company turned down a $1 million from Mark Cuban on ‘Shark Tank’

For many entrepreneurs, a $1 million investment from Mark Cuban would be a dream come true — but two co-founders turned down just such an offer on Sunday’s “Shark Tank” on ABC. Jonathan and Deborah Torres, founders of plant-based meat company Atlas Monroe, believed their 100% vegan, plant-based twist on fried chicken made their business worth far more than the Sharks believed. We vowed to stay organic, plant-based and natural. We continued to experiment, and Atlas Monroe was born.” After trying


For many entrepreneurs, a $1 million investment from Mark Cuban would be a dream come true — but two co-founders turned down just such an offer on Sunday’s “Shark Tank” on ABC. Jonathan and Deborah Torres, founders of plant-based meat company Atlas Monroe, believed their 100% vegan, plant-based twist on fried chicken made their business worth far more than the Sharks believed. We vowed to stay organic, plant-based and natural. We continued to experiment, and Atlas Monroe was born.” After trying
Why this plant-based meat company turned down a $1 million from Mark Cuban on ‘Shark Tank’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: taylor locke
Keywords: news, cnbc, companies, cuban, atlas, family, diet, father, company, monroe, organic, million, fried, tank, mark, salads, vegan, turned, shark, plantbased, meat


Why this plant-based meat company turned down a $1 million from Mark Cuban on 'Shark Tank'

For many entrepreneurs, a $1 million investment from Mark Cuban would be a dream come true — but two co-founders turned down just such an offer on Sunday’s “Shark Tank” on ABC.

Jonathan and Deborah Torres, founders of plant-based meat company Atlas Monroe, believed their 100% vegan, plant-based twist on fried chicken made their business worth far more than the Sharks believed.

Deborah was inspired to try and develop better tasting plant-based food after her father was diagnosed with type 2 diabetes. Her family decided to adopt a healthier diet to support him.

“My whole family and I went on a raw, vegan and organic diet for 90 days. We grew really ‘hangry’ at each other from just eating salads and fruit salads,” Deborah said. “After the 90 days, [my father] was completely healed. We vowed to stay organic, plant-based and natural. We continued to experiment, and Atlas Monroe was born.”

After trying the Atlas Monroe plant-based “fried chicken,” the judges were shocked at how it tasted.

“The batter is extremely tasty,” Lori Greiner said during the episode. “It’s got some zip to it.”

Barbara Corcoran added, “You fooled me!”


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: taylor locke
Keywords: news, cnbc, companies, cuban, atlas, family, diet, father, company, monroe, organic, million, fried, tank, mark, salads, vegan, turned, shark, plantbased, meat


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Mark Zuckerberg on billionaires: The wealth is ‘unreasonable’ but ‘may be optimal’ for society

I think if you do something that is good, you get rewarded, but I do think some of the wealth that can be accumulated is unreasonable.” “I understand where he’s coming from,” Zuckerberg, who is currently worth $69.5 billion according to Bloomberg’s Billionaire Index , said. In an employee question and answer session live-streamed on Thursday, a Facebook employee asked Zuckerberg to offer his perspective on Sen. Bernie Sanders’s comment that billionaires should not exist . Multi-billionaire Mark


I think if you do something that is good, you get rewarded, but I do think some of the wealth that can be accumulated is unreasonable.” “I understand where he’s coming from,” Zuckerberg, who is currently worth $69.5 billion according to Bloomberg’s Billionaire Index , said. In an employee question and answer session live-streamed on Thursday, a Facebook employee asked Zuckerberg to offer his perspective on Sen. Bernie Sanders’s comment that billionaires should not exist . Multi-billionaire Mark
Mark Zuckerberg on billionaires: The wealth is ‘unreasonable’ but ‘may be optimal’ for society Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: catherine clifford
Keywords: news, cnbc, companies, mark, nih, good, wealth, money, zuckerberg, large, society, unreasonable, optimal, facebook, think, billionaires, funding


Mark Zuckerberg on billionaires: The wealth is 'unreasonable' but 'may be optimal' for society

“I don’t know if I have an exact threshold on what amount of money someone should have but at some level no one deserves to have that much money. I think if you do something that is good, you get rewarded, but I do think some of the wealth that can be accumulated is unreasonable.”

“I understand where he’s coming from,” Zuckerberg, who is currently worth $69.5 billion according to Bloomberg’s Billionaire Index , said.

In an employee question and answer session live-streamed on Thursday, a Facebook employee asked Zuckerberg to offer his perspective on Sen. Bernie Sanders’s comment that billionaires should not exist .

Multi-billionaire Mark Zuckerberg says that while it can be “unreasonable” how much wealth individuals can amass, it also “may be optimal” for society at large if the alternative is governments controlling all of the wealth.

Zuckerberg and his wife, Priscilla Chan, have pledged to give away 99% of their Facebook shares through the Chan Zuckerberg Initiative (CZI) over their lifetime, and “there are people who would even say even that is bad, right?” Zuckerberg said.

“We are funding science, for example. And some people I think would say, ‘Well, is it fair that a group of wealthy people get to — to some degree — choose which science projects get worked on,'” Zuckerberg said.

Indeed, some experts have argued that through philanthropy, the rich have a disproportionate or unfair influence on society, and one even called it “plutocratic.”

Though Zuckerberg told employees “I don’t know how to answer that exactly,” he said, “at some level it is not fair, but it may be optimal,” he said, “…or better than the alternative. The alternative would be the government chooses all of the funding for all of the stuff.”

Zuckerberg uses the example of the National Institutes of Health (NIH). The NIH invests nearly $39.2 billion “in medical research for the American people” annually, according to its website, and of that money more than 80% is awarded through almost 50,000 competitive grants to more than 300,000 researchers at more than 2,500 universities, medical schools and other research institutions all around the world.

As a governmental agency, the NIH has to distribute grant money widely and carefully. But private money can be invested in large sums and on risky bets, says Zuckerberg.

“Part of what makes progress happen is people taking different approaches to different things. And I think that the NIH is generally funding a lot of great work … but I also think it is pretty good that there are other people out there who are trying different approaches, who are willing to fund things and maybe take a bet,” he says. “I think you want a mix of public and private [funding] on all of this.”

Were all funding for large projects distributed through the government, that would “deprive the market and world” of a variety of ways to tackle problems, Zuckerberg said.

“I think you can think at the same time both that it is unfair that any individual might have that much wealth, yet still think it is better for everyone that there is certain choices and competition of the ideas that get to get pushed out there,” Zuckerberg said.

To be sure, not everyone sees billionaires as good for society.

Famous French economist Thomas Piketty, for example, proposes in his new book “Capital and Ideology” (out in the U.S. in March), taxing billionaires out of existence because, broadly speaking, they hamper economic growth.

Per capita income growth has fallen in the United States as the number of billionaires has exploded, Pikketty says.

“Reaganism [low taxes and small government] has begun to justify any concentration of wealth, as if the billionaires were our saviors,” Piketty told French magazine L’Obs in September. But “Reaganism has shown its limits: Growth has been halved, inequalities have doubled. It is time to break out of this phase of sacredness of property. To overcome capitalism.”

See also:

Why ‘Mark Zuckerberg is the most dangerous person in the world,’ according to this NYU business professor

Mark Zuckerberg: If I didn’t have complete control of Facebook, I would have been fired

Nearly 68% of the world’s richest people are ‘self-made,’ says new report


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: catherine clifford
Keywords: news, cnbc, companies, mark, nih, good, wealth, money, zuckerberg, large, society, unreasonable, optimal, facebook, think, billionaires, funding


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Ireland completes privacy probes into Facebook and Twitter; possible fines expected by end of 2019

Mark Zuckerberg, chief executive officer and founder of Facebook Inc. attends the Viva Tech start-up and technology gathering at Parc des Expositions Porte de Versailles on May 24, 2018 in Paris, France. Ireland’s Data Protection Commission has concluded investigations into Facebook’s WhatsApp and Twitter over possible breaches of EU data privacy rules, a spokesperson for the agency revealed to CNBC Monday. The investigations will now move into the decision-making phase, according to Graham Doyl


Mark Zuckerberg, chief executive officer and founder of Facebook Inc. attends the Viva Tech start-up and technology gathering at Parc des Expositions Porte de Versailles on May 24, 2018 in Paris, France. Ireland’s Data Protection Commission has concluded investigations into Facebook’s WhatsApp and Twitter over possible breaches of EU data privacy rules, a spokesperson for the agency revealed to CNBC Monday. The investigations will now move into the decision-making phase, according to Graham Doyl
Ireland completes privacy probes into Facebook and Twitter; possible fines expected by end of 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: elizabeth schulze
Keywords: news, cnbc, companies, phase, ireland, end, fines, facebook, completes, 2018, protection, decisions, mark, chief, privacy, investigations, expected, possible, irelands, data, twitter, probes


Ireland completes privacy probes into Facebook and Twitter; possible fines expected by end of 2019

Mark Zuckerberg, chief executive officer and founder of Facebook Inc. attends the Viva Tech start-up and technology gathering at Parc des Expositions Porte de Versailles on May 24, 2018 in Paris, France.

Ireland’s Data Protection Commission has concluded investigations into Facebook’s WhatsApp and Twitter over possible breaches of EU data privacy rules, a spokesperson for the agency revealed to CNBC Monday.

The investigations will now move into the decision-making phase, according to Graham Doyle, head of communications for Ireland’s DPC. During this next phase, Ireland’s chief data regulator, Helen Dixon, will issue draft decisions, which are expected to come toward the end of the year.

These would mark Ireland’s first decisions related to U.S. multinational companies since Europe’s privacy law called the General Data Protection Regulation (GDPR) went into effect on May 2018.


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: elizabeth schulze
Keywords: news, cnbc, companies, phase, ireland, end, fines, facebook, completes, 2018, protection, decisions, mark, chief, privacy, investigations, expected, possible, irelands, data, twitter, probes


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