Wes Moore

They've got an obligation that, yes, if you want to give away money to support after-school programs, fantastic.

If you want to give away your money to support food programs, great.

But if you're not spending your time figuring out why there's so many people who don't have food, and if you're not figuring out why there's so many people who are finishing high school and aren't ready for college or careers, or if you're spending your time, you say, I'm giving my money towards criminal justice reform, well, put your money towards why there needs to be reforms in the first place.

Policy matters in this.

And that's why when I first became the CEO of Robinhood, we actually created, for the first time in the organization's 30-year history, a policy wing.

Because you cannot say you're actually interested in solving the problem if you're not actually addressing why the problem exists in the first place.

They're not.

And honestly, I think you're also seeing a challenge in the way philanthropy is even structured, right?

Because if you have philanthropies oftentimes that are serving as C3s, you know, one of the things— 501c3s.

Sorry, 501c3s.

Correct.

Nonprofit status.

One of the challenges of nonprofit status is it means that inherently you cannot be involved in political activities.

So you're telling me you want me to help to fix a problem.

without helping to address why the problem is there in the first place.

So there's something structurally wrong and backwards about that.

I also have a very real issue with oftentimes philanthropies who have those restrictions on how much they have to spend on their endowments.

And so you have some philanthropies that are saying, you know, the goal, you know, they've been around, we've been around for 70 and 100 years.

And I was like, what if you had a philanthropy that said our job is to be gone in three?

We're going to work ourselves out of a job, right?