Advice from a Billionaire: Forget Charity, Do Good While Making a Profit
Privatizing public schools is a bad idea. Education is about more than private profit and greed.
This is a very interesting interview with Bobby Turner, who is the partner of Andre Agassi in opening new charter schools for profit across the country. He seems to think that destroying public education is a way to perform good works.
Charity is laudable, Bobby Turner says, but if you really want to raise enough money to improve a thorny social problem you have to introduce the profit motive.
An associate of 1980s junk bond king Michael Milken who made a fortune in real estate, Turner is now turning that personal philosophy into action.
He set up a company last year called Turner Impact Capital that seeks investors to pay for blue-collar housing, promising returns more typical of conventional moneymaking businesses.
And already some big names are risking capital to invest with Turner, a deeply connected Los Angeles financier who already has a similar fund with former tennis star…
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