A Quote by Rohini Nilekani
Indian philanthropy doesn't take enough risk.
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I think people in general don't take enough risks. Some people feel that before they can take on that next challenge they need to be 100 percent ready. It's just not true. Even people in their jobs aren't perfect at their jobs. So my biggest advice to people is to step out there. Take the risk and deal with it. What is the worst that could happen? It's about thriving on risk instead of shrinking from risk.
If you think of global public goods like polio eradication, the kind of risk-taking new approach, philanthropy really does have a role to play there, because government doesn't do R&D about new things naturally as much as it probably should, and so philanthropy's there.
In the ideal world, philanthropy should be redundant or at least it should be at the edges, as innovation or risk capital. But it's far from an ideal world; the wealthy are cornering more and more opportunities and resources from this planet. So, the big challenge for philanthropy is... can it engage with the distribution of wealth itself?
Be proud that thou art an Indian, and proudly proclaim, "I am an Indian, every Indian is my brother." Say, "The ignorant Indian, the poor and destitute Indian, the Brahmin Indian, the Pariah Indian, is my brother."
Often you need to take some risk, but it must be a realistic risk, you can't take a crazy risk.
I've made lots of mistakes. Probably the worst one - I would say they tie. It's either when I didn't move fast enough on something, or I didn't take a big enough risk.
I think philanthropy is also growing and catching on. Figuring out how the philanthropy sector, which is quite small compared to the private sector, which is the biggest by far, and then the governments, you know, even in these poor countries over time has to take on these key responsibilities. How does philanthropy accelerate that? Drive the kind of innovations, make sure they get used well. So it plays this kind of special role.
If you look back at history, [Dale ] Carnegie highlighted the need for libraries to be a place where everyone could go to read if you didn't have access to books. Philanthropy can be a place that'll take a risk or point to areas to make sure they are the right government investments to reduce inequalities.
Basically if you study entrepreneurs, there is a misnomer: People think that entrepreneurs take risk, and they get rewarded because they take risk. In reality entrepreneurs do everything they can to minimize risk. They are not interested in taking risk. They want free lunches and they go after free lunches.
Personal philanthropy must be separated from corporate philanthropy. Personal philanthropy is more about giving back to society, or giving forward, as it is now referred to.
I don't often get Indian girl roles because I'm 'not Indian enough.' Which is true - I'm from Texas.
It's bad enough that you have to take market risk. Only a fool takes on the additional risk of doing yet more damage by failing to diversify properly with his or her nest egg. Avoid the problem-buy a well-run index fund and own the whole market.
There are three lessons in philanthropy - one, involve the family, especially the spouse. She can be a remarkable driver of your initiative. Two, you need to build an institution, and you need to scale it up. Choose a leader for philanthropy whom you trust. Three, philanthropy needs patience, tenacity and time.
It’s all risk. And if it isn’t, it needs to be. The real trick is to find the risk that is right for you, a risk that doesn’t take you so far out of your own identity that it’s not a you that you recognize who’s doing the writing.
The greatest risk is really to take no risk at all. You've got to go out there, jump off the cliff, and take chances.
A chance is what you take before you think about it. A calculated risk is what you take after you have evaluated all possible factors and have determined that risk
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