1% of Nothing is a startup organization that sits on the intersection of technology and charitable giving. Â Its purpose is to inspire founders of early-stage companies (tech startups) toÂ donate 1% of his/her assetsÂ to a cause of their choice.
The ideaÂ is that the promiseÂ of new companies toÂ 1% when theequity may beÂ worth nothing,Â but if they areÂ acquired,Â that 1% becomesÂ a major donation.Â Starting today,Â allÂ companiesÂ and employeesÂ alike can makeÂ a commitment toÂ donate 1% of its assets. Â 1% of a startup may not be worth much, but in essence, it’s like a lottery ticket in the case where the startup find a successful exit.
What a clever concept. I hope it takes off! Imagine if Facebook gave up 1% to a charity? That would be worth $5 billion 🙂