Billions are wasted on ineffective philanthropy. Philanthropy is decades behind business in applying rigorous thinking to the use of money.

Summary

This quote suggests that a significant amount of money is being squandered on philanthropic efforts that are ineffective. It emphasizes how the field of philanthropy lags behind the business sector when it comes to applying rigorous and strategic thinking in the allocation of funds. The implication is that there is a need for philanthropists to adopt a more analytical and result-oriented approach similar to what businesses employ, in order to maximize the impact and efficiency of their charitable investments.

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