> ...it would be much more interesting if they took part of their money and created grants for companies doing good in the world that would have trouble sustaining profitability.

That is a very interesting idea but I suspect hard to apply in practice. I'd love to see someone try.

One example is that a number of local VCs support our local physical bookstore Kepler's in that way (it would have closed long ago if not for their grants) -- they feel its presence makes the community a better place.