08/22/2013 01:45 pm ET Updated Oct 22, 2013

Facebook: The Business Of Philanthropy


The homepage of, a new nonprofit initiative started by Mark Zuckerberg that aims to remove some of the barriers to Internet connectivity worldwide, looks like that of a traditional non-governmental organization. A video shows African children playing, women working in fields, men dancing, all beneath a voice track of John F. Kennedy's "Peace" speech, delivered at American University in June, 1963. In that speech, Kennedy exhorted his audience to remember that "we all inhabit this small planet."

But in some ways, what Zuckerberg and Facebook, along with tech giants like Samsung, Ericsson and Nokia, are hoping to do is more akin to "philanthrocapitalism," a term coined by The Economist's Matthew Bishop, who co-authored "Philanthrocapitalism: How Giving Can Save the World."