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Bill Gates: 'Philanthropy Should Be Taking Bigger Risks Than Business'

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If problems that charities tackled were easy, business and government could step in and solve them, Bill Gates said at this week's Clinton Global Initiative. But that isn't the case. So "philanthropy should be taking much bigger risks than business," the Microsoft co-founder explained during a panel at the conference.

Gates used his own venture, the Bill & Melinda Gates Foundation, as an example of the difficulties faced by do-good organizations.

The tycoon expressed confidence that his foundation's programs to combat malaria in developing countries would be successful. But he isn't so sure about the foundation's attempts to improve teacher assessment back home.

School boards' adherence to the "status quo" has contributed to a "high chance of failure," he said.

The Clinton Global Initiative, an annual problem-solving conference of world leaders, founded by former President Bill Clinton, concludes Thursday in New York City.