News for hackers. Stuff that matters.
Re:Patagonia founder gives away the company by celestialcheese on Wednesday September 14, 2022 @05:05PM (#32843347)
Here's the note from Yvon https://www.patagonia.com/ownership/

One of the most interesting parts of this is the choice to make Holdfast a C4. They really wanted to make this a political organization, and were willing to forgo a staggering amount of tax savings - in fact, $17m in tax donating away a $3b asset. Probably the least effective estate planning from a raw $ perspective in history.

Major props to the family for doing this - this is now the definition of "putting your money where your mouth is", and I hope this model is a success and serves as a template for others to follow.

Re:Patagonia founder gives away the company by hammock on Wednesday September 14, 2022 @05:21PM (#32843530)
Thanks for sharing the actual letter. Contrary to what the New York Times report (OP) would have you believe, Yvon's note doesn't say anything about climate change. Rather, it emphasizes "the environmental crisis," "defending nature," "the health and vitality of the natural world," and the Earth’s finite resources.

There is so much more to environmental conservation than just "climate change," and Patagonia has done much more around e.g. removing dams, minimizing PFCs in their products, recycling and increasing longevity of materials, and other actions that protect air, land, forests, rivers and oceans, and which encourage sustainable energy production.

Dear NYT and fellow readers, please don't throw this diversely interested company into some politically expedient climate change bucket. Their view on the environment is so much more.

Re:Patagonia founder gives away the company by subsubzero on Wednesday September 14, 2022 @06:04PM (#32844055)
Despite some of my issues with the company, they have a few really cool environmentally friendly programs. The "worn well" program is incredible, basically if you have a piece of patagonia clothing and return it through that program, they clean it up or recycle it and you get a free credit towards anything patagonia sells.

For kids clothes this is a boon, I would buy my daughter a patagonia jacket from the patagonia outlet at 40% off, she grows out if it and I trade it in for a new jacket and get $20-$30 off of the new jacket. Her old jacket gets cleaned and sold to some other kid who can use it(they have a worn well portal where you can buy used gear), great for peoples pocketbooks, great for the environment - win all around.

Re:Patagonia founder gives away the company by bmj on Wednesday September 14, 2022 @06:37PM (#32844395)
Yeah, I don't agree with 100% of their political positions (though, to be fair, it is rare that I agree with 100% of anyone's political positions, including my own), but they are really trying to change the way people consume their products. And, many of their products are truly built to last. I have two jackets (one insulated, one a fleece) that are 15+ years old and have been dragged through the dirt, mud, rain, and snow all over the U.S.
Re:Patagonia founder gives away the company by Stratoscope on Wednesday September 14, 2022 @07:06PM (#32844677)
> it is rare that I agree with 100% of anyone's political positions, including my own

This is my favorite political comment of the year!

I hope you won't mind my stealing it when one of my friends is shocked that we disagree on some political position or another.

Re:Patagonia founder gives away the company by dismalpedigree on Thursday September 15, 2022 @07:12AM (#32850022)
Do you 100% agree with that statement? It can be seen as political.
Re:Patagonia founder gives away the company by patcon on Wednesday September 14, 2022 @07:57PM (#32845145)
Ha! I was just about to comment saying the same thing! I like it a whole lot :)
Re:Patagonia founder gives away the company by dadbod79 on Thursday September 15, 2022 @02:56AM (#32848081)
Long time HN reader, never signed up, until today.

It's humbling and refreshing to see someone disagreeing and acknowledging that it doesn't mean that they're right and the other side is wrong, and that it's ok to like 99% of someone else's agenda (my interpretation) without starting an I'm better than you campaign.

More of us should follow that line of thought, love your comment man!

Re:Patagonia founder gives away the company by eyelidlessness on Wednesday September 14, 2022 @07:28PM (#32844896)
> though, to be fair, it is rare that I agree with 100% of anyone's political positions, including my own

Finally something I can almost totally agree with!

Re:Patagonia founder gives away the company by jasonwatkinspdx on Wednesday September 14, 2022 @08:10PM (#32845262)
Right now I'm wearing a pair of their twill jeans I've had for nearly 20 years now. There's a tiny bit of pilling in the knees you can only see close up. Otherwise they look brand new every time they come out of the wash.

A lot of their stuff isn't to my style, but I've had really solid luck with the stuff that is. I've got multiple pairs of long underwear and down vests and such from back when I snowboarded a lot, again, all of them held up really well.

Re:Patagonia founder gives away the company by pronlover723 on Wednesday September 14, 2022 @07:25PM (#32844874)
H&M will give you credit for bring clothing of any kind. AFAICT both are just a way to get you into the store so you'll buy more stuff

https://www2.hm.com/en_ca/sustainability-at-hm/our-work/clos...

Re:Patagonia founder gives away the company by patcon on Wednesday September 14, 2022 @07:56PM (#32845134)
Ah that's a good point.

Though on consideration, I would venture a guess that the purpose of each program might be as different as the governance of each company. Outcomes might be comparable, but I'd bet the arrival path and conversations were very divergent. Judging from this stark choice they've made in this post, the people at Patagonia are clearly thinking VERY differently than most boring and very profitable companies, and I presume that's not skin-deep.

And if so, maybe it's selling one short to glom them together in assessment, based mainly on outcomes instead of routes? I dunno, I could see someone defending either way of looking at it -- focussing on sameness because outcome's are the same, or differentness because paths to decisions differ :)

Re:Patagonia founder gives away the company by ip26 on Wednesday September 14, 2022 @07:55PM (#32845124)
What matters is what happens to the used clothes. Patagonia resells them to consumers.
Re:Patagonia founder gives away the company by pronlover723 on Thursday September 15, 2022 @02:57AM (#32848089)
So does H&M

> the boxes and sorts the contents into three categories:

> Rewear: Wearable clothes are marketed as secondhand clothing.

> Reuse: If the clothes or textiles are not suitable for rewear, they’re turned into other products, such as remake collections or cleaning cloths.

> Recycle: All other clothes and textiles are shredded into textile fibers and used to make, for example, insulation materials.

The "Rewear" category is reselling the clothing.

Re:Patagonia founder gives away the company by csharpminor on Thursday September 15, 2022 @03:32AM (#32848414)
They’re being sued for misleading statements about their sustainability: https://www.thefashionlaw.com/hm-is-being-sued-over-misleadi...

Don’t fall for their narrative.

Re:Patagonia founder gives away the company by discreteevent on Thursday September 15, 2022 @07:34AM (#32850206)
I happen to know someone who works in a H&M store. They throw out any returned items even if they haven't been worn once. It's cheaper than having to put the work into sorting them.
Re:Patagonia founder gives away the company by vertis on Thursday September 15, 2022 @07:59AM (#32850423)
There is often a disconnect between management and lower levels. I suspect the store would probably get in trouble for this behaviour.

Not least because it opens the company up to fines for false advertising (e.g. Australian Competition and Consumer Commission regularly polices companies operating in Australia, which H&M does)

Re:Patagonia founder gives away the company by banannaise on Thursday September 15, 2022 @10:03AM (#32852163)
Employees perform the behaviors you incentivize. H&M can have an official policy that disagrees, but if their employees are incentivized not to comply, then they won't, and that's H&M's fault.

See also: Wells Fargo; Amazon

Re:Patagonia founder gives away the company by vertis on Thursday September 15, 2022 @10:16AM (#32852391)
Oh Agreed. A systems problem.

A former company that I worked for wanted their customers (Real Estate Agents) to fill out profiles. They wanted the account managers to encourage this behaviour so they tied the bonus/commission to having it filled out.

Needless to say, the customers had very little interest in filling out the profiles. I found all the account managers sitting around a table at a conference filling them out themselves instead of talking to the customers (as they should have been at the event).

A few even discovered they could fill the fields with '.' characters and game the system (they got caught and fired for crossing the line). The others just wasted valuable time they could have been selling products and got their bonuses.

See Also: https://en.wikipedia.org/wiki/Perverse_incentive

Re:Patagonia founder gives away the company by flakeoil on Thursday September 15, 2022 @03:28AM (#32848362)
I'm not sure how much of H&M clothes are really collected after use, but at least they have invested in a company that works on recycling fibers from clothes. They own over 10% of it. Probably some of what they collect goes to this Renewcell company for recycling.

https://www.renewcell.com/en/

Re:Patagonia founder gives away the company by steve_adams_86 on Thursday September 15, 2022 @08:35AM (#32850851)
Used Patagonia gear for kids (if you can afford it) is incredible. You know they’ll be dry and comfortable, it wears remarkably well, and it has resale value. All of my kids have cycled through Patagonia garments and each garment was sold eventually, bringing the cost of ownership well below what we’d pay if we bought them worse gear new.

It’s unfortunate that price prevents people from wanting or being able to invest in quality clothing that can last. If something is well made it seems like it can outlast cheaper garments several times over, and the environmental cost is reduced dramatically. Most garments like this really do cost a lot though; my nano puff hoody was around $350 CAD, for example. You can get stuff that looks the same for $50-$100. If I hadn’t experienced how nice it is first hand, I’d likely assume the nano is a waste of money and go with something cheaper too. Then of course at times in my life I couldn’t spend that much if I wanted to.

We have a bit of a crisis regardless. The garment industry is like a massive conveyor belt into landfills.

Re:Patagonia founder gives away the company by Mildlypolite on Thursday September 15, 2022 @09:42AM (#32851803)
I can confirm, we have many Patagonia piles which are 30 years old now and they look brand new, passed from dad to me.

Also some t shirts from the 90 are still looking good, which is kinda incredible.

Re:Patagonia founder gives away the company by ycta20220914230 on Wednesday September 14, 2022 @06:48PM (#32844517)
Levi's has the same kind of thing for secondhand and vintage denim jeans and jackets: https://www.secondhand.levi.com/
Re:Patagonia founder gives away the company by soperj on Wednesday September 14, 2022 @06:38PM (#32844412)
> get $20-$30 off of the new jacket

would you also get $20-30 off of a used jacket?

Re:Patagonia founder gives away the company by hammock on Wednesday September 14, 2022 @06:52PM (#32844560)
Yes "If you have an old Patagonia item that is just sitting around, we’ll give you credit towards your next purchase on a used or new garment." https://wornwear.patagonia.com/
Re:Patagonia founder gives away the company by rasz on Thursday September 15, 2022 @07:12AM (#32850025)
Better question is could you sell your old jacked for more than $20-30?
Re:Patagonia founder gives away the company by vertis on Thursday September 15, 2022 @08:09AM (#32850521)
The problem with this argument is that it requires a good deal more effort than dropping off a garment. I have to list it somewhere and deal with inquiries and postage. How often to garments get thrown out because people don't have the time or interest in going through this process.

Personally, I end up donating many items to avoid the need to deal with eBay/Gumtree (Australia/UK marketplace).

Re:Patagonia founder gives away the company by jbu on Thursday September 15, 2022 @03:43AM (#32848529)
Yeah I had a jacket that had worn through, and sent it back to them for repair for free. Brilliant.
Re:Patagonia founder gives away the company by test098 on Wednesday September 14, 2022 @05:41PM (#32843777)
Quite literally references climate change in the third sentence of the letter?

> "As we began to witness the extent of global warming and ecological destruction, and our own contribution to it, Patagonia committed to using our company to change the way business was done."

Re:Patagonia founder gives away the company by aydyn on Wednesday September 14, 2022 @07:50PM (#32845089)
I think you are reading too much into it.

The letter doesn't say the words "climate change" but that's clearly what they are talking about. Instead, they do mention "global warming" which is part of what is referenced by "environmental crisis".

I don't think "global warming" is more or less politicized than the phrase "climate change". Maybe because "global warming" is slightly antiquated, it's less likely to produce knee jerk reactions?

I agree that the letter is trying its best to be politically inclusive, and I appreciate it.

Re:Patagonia founder gives away the company by stuaxo on Thursday September 15, 2022 @09:35AM (#32851698)
From what I heard it was the polluters who pushed us from "global warming" to "climate change" as the second is less emotive and less likely to be linked to them by people (especially after they paid so much for people to obscure things).
Re:Patagonia founder gives away the company by cma on Wednesday September 14, 2022 @06:52PM (#32844561)
Read it again, it does mention climate change. Reflexive ctrl-f won't work because it words it: "global warming." It's in the very first paragraph:

> As we began to witness the extent of global warming and ecological destruction, and our own contribution to it, Patagonia committed to using our company to change the way business was done.

The New York Times didn't slip this in to mislead everyone.

Re:Patagonia founder gives away the company by xmonkee on Wednesday September 14, 2022 @05:39PM (#32843750)
That's interesting, I wouldn't have made the distinction. I'm not even sure there is a distinction (climate change is by far the greatest threat to the environment). What are your personal views on climate change, if you don't mind me asking?
Re:Patagonia founder gives away the company by oliwary on Wednesday September 14, 2022 @06:35PM (#32844370)
Not OP, but I think there are very important environmental impacts that are not related to climate change. Take, for example, plastic in the sea - clearly a big issue for the environment, but addressing climate change will not impact this at all.

Other examples include destruction of habitats, NO2 in the air, dumping waste in nature and rivers, lead that gets into nature etc.

Re:Patagonia founder gives away the company by rch on Wednesday September 14, 2022 @07:58PM (#32845155)
I've found that 'climate change' activism leads with wealth redistribution, social justice, and even socialism in a general sense. Biodiversity activism, on the other hand, tends to organize around reducing anthropogenic sources of CO2/CH4, establishing wildlife corridors, protecting watersheds, and so forth.

Both are valid and there's obviously a lot of welcome, positive alignment.

Re:Patagonia founder gives away the company by zeckalpha on Wednesday September 14, 2022 @11:08PM (#32846500)
How are sea microplastics and climate change not related? Both involve fossil fuel materials being left somewhere they shouldn't when we are "done" with them.
Re:Patagonia founder gives away the company by Ma8ee on Thursday September 15, 2022 @02:12AM (#32847779)
In one case the fossil fuels contribute to climate change, in the other case it doesn’t.
Re:Patagonia founder gives away the company by zeckalpha on Friday September 16, 2022 @12:21AM (#32862037)
Let me say that again: why don't you think the plastics are changing the climate?
Re:Patagonia founder gives away the company by Ma8ee on Monday September 19, 2022 @03:02AM (#32895183)
Because as long as you don't burn them, they don't release any gases that contribute to the greenhouse effect. Could you explain any mechanism that make plastics in nature contribute to the climate catastrophe?
Re:Patagonia founder gives away the company by stuaxo on Thursday September 15, 2022 @09:36AM (#32851720)
They are both under a broader banner of pollution.
Re:Patagonia founder gives away the company by Ma8ee on Thursday September 15, 2022 @04:18PM (#32857925)
And?
Re:Patagonia founder gives away the company by jhugo on Thursday September 15, 2022 @12:52AM (#32847189)
> climate change is by far the greatest threat to the environment

The effects of climate change will be uneven across humanity, and many of the worst effects might be second-order (e.g. instability caused by mass migration).

There are other types of environmental change, like accumulation of so-called "forever chemicals", which have the potential to have a more direct effect on the entire human population, and potentially over a shorter time period than climate change. It's not clear to me that climate change is the greatest threat we face.

Re:Patagonia founder gives away the company by patcon on Wednesday September 14, 2022 @08:05PM (#32845221)
Not OP, but was glad they piped up :)

My vague concern is that overly emphasizing "climate change" means all these brains are thinking on just one small bit of surface of this larger project. We talk a ton about carbon because it's the tangible thing that brownian motions equally through the atmosphere and we can undeniably quantify, but the whole ship leaks across a number of dimensions. We need eyes and minds on all the little edges of the larger wicked problem: both convincing and creating fellow humans that we can be happy and healthy without unconstrained growth. There's a lot of baggage to work through.

The sheer eighth grade math of it is that we can't be anything but cancer or conquerors (at whatever scale) unless we get that under control on this finite planet <3

Re:Patagonia founder gives away the company by emptyfile on Thursday September 15, 2022 @07:26AM (#32850134)
>Yvon's note doesn't say anything about climate change.

So this is the standard level of reading comprehension on HN these days?

LITERALLY the third sentence in the first paragraph.

>I never wanted to be a businessman. I started as a craftsman, making climbing gear for my friends and myself, then got into apparel. As we began to witness the extent of ***global warming***...

Re:Patagonia founder gives away the company by renewiltord on Thursday September 15, 2022 @03:57AM (#32848655)
Bro "global warming" is "climate change". You gotta read, no Cmd-F. Second sentence, my dude. Gotta read before you dunk, homie.
Re:Patagonia founder gives away the company by collegeburner on Thursday September 15, 2022 @12:26AM (#32847044)
I really like environmental causes around preserving natural wild places for future generations to enjoy and appreciate that patagonia (a brand that caters a lot to outdoorsy types) is backing this. Makes me want to support them.
Re:Patagonia founder gives away the company by hef19898 on Thursday September 15, 2022 @08:20AM (#32850630)
Personally, I don't own any items from Patagonia. As company so, it is model to strive for. A pitty tgat not more companies can resist the worst incentives in capitalism.
Re:Patagonia founder gives away the company by exysle on Wednesday September 14, 2022 @06:02PM (#32844037)
I like how "global warming" became "climate change." My favorite trick of the mind.
Re:Patagonia founder gives away the company by eyelidlessness on Wednesday September 14, 2022 @07:34PM (#32844949)
It was an important clarification which got hijacked. The clarification is that some local climates might not meaningfully warm, they might even cool, but will experience other drastic changes. Even as the global temperature rises.

It’s a trick because nuance is easily exploited by people craven enough to exploit it. But it’s an important distinction for people who don’t understand why they’re having colder or wetter winters in temperate climate regions (example picked out of my locality).

Re:Patagonia founder gives away the company by merry_flame on Saturday September 17, 2022 @02:21AM (#32875219)
Good point. Mainstreaming "climate disruption" would be even better though.
Re:Patagonia founder gives away the company by orwin on Wednesday September 14, 2022 @06:20PM (#32844204)
I dislike "climate change" too, because it carries the idea that we can change it back. I think "global warming" was fine, but if i had to pick something, it would be "climate drift" i think.
Re:Patagonia founder gives away the company by DoingIsLearning on Thursday September 15, 2022 @01:41AM (#32847531)
Not sure why you are getting downvoted. Frank Luntz was the republican PR pollster that advised the Bush administration to replace "global warming" with "climate change" in all White house documents and speeches.

The idea was to make it sound less severe, to please the Oil&Gas lobby. For the most part it worked as you now have environmentalist on the other side of the fence using it too.

I agree with the argument that climate change is maybe not accurate as some regions might cool as well. I would prefer "climate emergency" if I was in charge of the PR.

Re:Patagonia founder gives away the company by edgyquant on Wednesday September 14, 2022 @06:58PM (#32844610)
I really like climate drift
Re:Patagonia founder gives away the company by harwoodleon on Thursday September 15, 2022 @02:25AM (#32847870)
I really like “the great extinction”

More punchy. More descriptive of actual events.

“Climate drift” sounds like the name of an AI bot, made specifically to create a narrative that underplays the seriousness and gravity of the extremely dangerous and deadly feedback loops that are appearing now in the global climate system.

Re:Patagonia founder gives away the company by orwin on Thursday September 15, 2022 @06:07AM (#32849573)
Drift carry the idea that we cannot change it back.

I don't think it underplay anything. I understand that we must act. But with this name your arguments won't be heard.

The climate denialists of today are those believing that if it gets too much, we will have to do some efforts for a decade and boom, back to 1970 climate. I want to engage that belief, hence 'climate drift'

Re:Patagonia founder gives away the company by edgyquant on Friday September 16, 2022 @12:21PM (#32868372)
The implication of “great extinction” is that we’re seeing a mass extinction event which we aren’t. At least not on the level of the major ones usually discussed.
Re:Patagonia founder gives away the company by e9 on Wednesday September 14, 2022 @06:47PM (#32844503)
I disagree. Climate always changes. Constantly. Warming is just one part of the climate change. Many other things change too so climate change is a lot broader term for this.
Re:Patagonia founder gives away the company by strbean on Wednesday September 14, 2022 @07:37PM (#32844985)
"Anthropogenic climate change at a rate that humans and/or natural systems can't cope with" just isn't as catchy.
Re:Patagonia founder gives away the company by otikik on Thursday September 15, 2022 @04:36AM (#32848957)
Weather changes. Climate is the accumulated average across years. It’s “yesterday it rained here” vs “we got an average of x litters of water per square meter during this month in the last ten years”. Climate changes, but by its own nature it should change really gradually.

The point is that weather is changing so much that even climate is changing quickly now. Or, in a car metaphor: not only our velocity is increasing, our acceleration is also increasing m.

I think a stronger word like “climate emergency” would have been more appropriate.

Re:Patagonia founder gives away the company by otikik on Thursday September 15, 2022 @04:37AM (#32848961)
Weather changes. Climate is the accumulated average across years. It’s “yesterday it rained here” vs “we got an average of x litters of water per square meter during this month in the last ten years”. Climate changes, but by its own nature it should change really gradually.

The point is that weather is changing so much that even climate is changing quickly now. Or, in a car metaphor: not only our velocity is increasing, our acceleration is also increasing.

I think a stronger word like “climate emergency” would have been more appropriate.

Re:Patagonia founder gives away the company by int_19h on Thursday September 15, 2022 @12:40AM (#32847122)
Overall temperature increase is the part that is most directly caused by our activities, and which in turn causes all those other changes, so I think it's fair to emphasize that.
Re:Patagonia founder gives away the company by hmlongco on Wednesday September 14, 2022 @09:45PM (#32846006)
Weather changes. It's when enough weather changes that the overall climate changes where we begin to have issues.
Re:Patagonia founder gives away the company by e9 on Wednesday September 14, 2022 @10:02PM (#32846128)
Too subjective. Objectively climate has always been changing and will always be changing. Earth has seen much warmer climate and much colder climate and everything in between since formation. Your definition of issues don’t really make sense unless it’s subjective because objectively climate change is just is, not good not bad, just fact and consequence of complicated system. Even in the past many centuries, if you look at history, plenty of empires fell because of climate change(floods, droughts, etc). We are accelerating the change but it would still be changing even if we didn’t exist.
Re:Patagonia founder gives away the company by Mildlypolite on Thursday September 15, 2022 @12:39PM (#32854618)
Well, the problem is that we are accelerating so much that adaptation from living beings is not possible.

Not a small problem,you know...

Re:Patagonia founder gives away the company by orwin on Thursday September 15, 2022 @06:00AM (#32849516)
But 'drift' carries the idea that 2021 climate is already gone, and that we won't get it back anytime soon.

'change' doesn't carry this idea at all. Anyway, global warming was more descriptive, thus better to me.

Re:Patagonia founder gives away the company by Arainach on Wednesday September 14, 2022 @07:09PM (#32844710)
It says a lot about America that doing things the right way and paying a whopping 0.5% in tax is a "staggering amount of savings" and "least effective".

Imagine the things we could do if more companies cared about giving back to the public good that enabled them to become what they are rather than using legal trickery to ignore the intent of the law.

Re:Patagonia founder gives away the company by zem on Wednesday September 14, 2022 @08:25PM (#32845381)
also that climate change is somehow "political"!
Re:Patagonia founder gives away the company by Vinnl on Thursday September 15, 2022 @05:28AM (#32849281)
I think "political" here referred to the fact that the way they set up the organisation allowed them to make political contributions, at a cost of having to pay $17m in tax more than they would've had to pay with a different setup.
Re:Patagonia founder gives away the company by ARandomerDude on Wednesday September 14, 2022 @11:15PM (#32846541)
Fill in the blanks:

"We need to fight climate change. I voted for ____."

"I don't think climate change is caused by humans. I voted for ____."

If you could perform the above task easily, then yes it's political.

Re:Patagonia founder gives away the company by fahrradflucht on Thursday September 15, 2022 @12:59AM (#32847232)
Sure, but I think what OP was saying is that this says a lot about the US. For example in Germany, denying man made climate change is a fringe position. We just fight about how to stop it and at what cost.
Re:Patagonia founder gives away the company by refurb on Thursday September 15, 2022 @08:33AM (#32850815)
You mean by shutting down nuclear plans and calling natural gas "green"?
Re:Patagonia founder gives away the company by pjc50 on Thursday September 15, 2022 @04:39AM (#32848974)
With enough media firepower, anything can be made political, regardless of the underlying reality.
Re:Patagonia founder gives away the company by Fargren on Thursday September 15, 2022 @08:21AM (#32850639)
Everything that happens or is done in public is political, and the more it affects the public the more political it is. C̶l̶i̶m̶a̶t̶e̶ ̶c̶h̶a̶n̶g̶e̶ The climate emergency is a deeply political topic as it affects basically everyone.
Re:Patagonia founder gives away the company by collegeburner on Thursday September 15, 2022 @12:29AM (#32847057)
I firmly believe that I know better than the government where I should put my money to give back to society and will be more efficient in doing it. I give a lot relative to my income and intend to continue doing so, and also intend to minimize my tax burden so I can support the causes I care about not the ones other people vote for.
Re:Patagonia founder gives away the company by saiya-jin on Thursday September 15, 2022 @02:35PM (#32856469)
Sure but you are a tiny minority. Most people are outright selfish when it comes to (not only) money, hence laws are required. More often than not they create an alternate reality where they justify their actions by whatever mental trick their subconsiousness deems necessary (ie I pay enough already, it wont matter anyway, I put the money into kids etc etc etc).
Re:Patagonia founder gives away the company by collegeburner on Thursday September 15, 2022 @11:18PM (#32861668)
I do not believe the government is any better at deploying money to meet a social good.And I believe it is people's own right to use their money to support what they believe in. So I will continue to work to pay as absolutely low tax as possible so I can support causes I believe in and allow others to do the same.
Re:Patagonia founder gives away the company by snowwrestler on Wednesday September 14, 2022 @06:06PM (#32844079)
501c3 organizations have to be careful about the language they use when commenting on any government policy, even if they stay out of elections. It’s just hard to be overtly opinionated about things as a c3. The Sierra Club found this out the hard way when fighting a dam across the Grand Canyon. They converted to a c4 as well back then (well, the IRS forced them to).
Re:Patagonia founder gives away the company by yieldcrv on Wednesday September 14, 2022 @07:05PM (#32844676)
I think it’s fine because non profits even under C4 grow tax free with a tiny excise tax on investment income (1.39% on realized gains and dividends, I think?)

so for a company with profits being the primary asset, itll grow even quicker, since there are no income taxable shareholders

Re:Patagonia founder gives away the company by lostlogin on Thursday September 15, 2022 @04:46AM (#32849022)
> Probably the least effective estate planning from a raw $ perspective in history.

For a very well planned change of ownership of an estate, see the UK royal family. The recent inheritance had zero death duties paid.

Re:Patagonia founder gives away the company by stefanve on Thursday September 15, 2022 @08:42AM (#32850937)
I think the 17m is only for the 2% of the voting shares the rest is political donation and thus taxfree
Re:Patagonia founder gives away the company by refurb on Wednesday September 14, 2022 @11:11PM (#32846522)
You get a tax deduction by applying a donation against other income.

If they are giving away everything, then there is nothing to offset the donation (except the $17B).

So it kind of makes sense?

If own a single asset worth $1B and donate it all, I have no tax write off because I have no money.

Re:Patagonia founder gives away the company by mikeryan on Thursday September 15, 2022 @08:08AM (#32850507)
They are not giving “everything” away presumably they have taken many millions of dollars out of the company over the years, enough to have built likely generational wealth outside of their Patagonia holding.

If own a single asset worth $1B and donate it all, I have no tax write off because I have no money

Write offs carry forward to future years - you still get the write off even if you do t apply it.

They don’t get a write off here because the organization (that they created for this) is a 501c4 non-profit. Donations to those are not considered tax deductible.

Re:Patagonia founder gives away the company by Thorrez on Thursday September 15, 2022 @03:03AM (#32848123)
I think you mean $17M, not $17B.