We know that throwing money at a problem, especially a social one, does not yield positive results.
Below is an excellent example of philanthropy or spending without positive results as well as the lesson learned from the failure and the dramatic systematic change for future philanthropy. For example, money can be withdrawn if results are not met, traditional business plans and supports are required, and starting with younger children works more effectively.
Education, government and nonprofits are often not held accountable for the results of their expenditures and frequently have neither clue nor inclination to change. Change, however, can produce unexpected dividends.
Modern-day Robin Hood applies business skills to philanthropy
May 5, 2013 4:00 PM
Billionaire Paul Tudor Jones' charity - the Robin Hood Foundation -- fights poverty with the hardnosed, business sense of Wall Street. Scott Pelley reports.
Top photo from the CBS story, right photo from money.cnn.com