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Podcast: Ian MacMillan on the $60 Billion Question

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Podcast: Ian MacMillan on the $60 Billion Question

http://knowledge.wharton.upenn.edu/index.cfm?fa=viewfeature&id=1508

Earlier this week, Warren Buffett made a $31 billion gift to the Bill and Melinda Gates Foundation to help find cures for the world's 20 worst diseases and to improve the educational opportunities for all Americans. Buffett's contribution -- in the form of 10 million shares of Berkshire Hathaway stock to be transferred in increments over a number of years -- will more than double the size of the existing Foundation, which is already the world's largest. But questions have immediately arisen as to how $60 billion can be effectively managed, what impact the donation will have on other donors, and whether the Foundation has come up with the best approach to solving systemic health problems in developing countries. Ian C. MacMillan, Wharton professor of innovation and entrepreneurship and director of the Sol C. Snider Entrepreneurial Research Center, talked with Knowledge@Wharton editorial director Robbie Shell and senior editor Steve Guglielmi about this gift. MacMillan's areas of interests include societal wealth creation, technology strategy, and managerial and entrepreneurial approaches to knowledge management.