This advice from Warren Buffett inspired Bill and Melinda Gates in their philanthropy. (via CNBCMakeIt)
"Swing for the fences."
That's the advice Warren Buffett gave his friends Bill and Melinda Gates when he pledged millions of shares of Berkshire Hathaway stock to their Bill and Melinda Gates Foundation in 2006. "[F]oundations like ours have the freedom to test out ideas that might not otherwise get tried, some of which may lead to breakthroughs," the Gates wrote in the foundation's annual letter for. "As always, Warren Buffett—a dear friend and longtime source of great advice—put it a little more colorfully. When he donated the bulk of his fortune to our foundation and joined us as a partner in its work, he urged us to 'swing for the fences.
"That's a phrase many Americans will recognize from baseball," the Gates wrote. "When you swing for the fences, you're putting every ounce of strength into hitting the ball as far as possible. You know that your bat might miss the ball entirely—but that if you succeed in making contact, the rewards can be huge."
"That's how we think about our philanthropy, too," the Gates said in the letter. "The goal isn't just incremental progress. It's to put the full force of our efforts and resources behind the big bets that, if successful, will save and improve lives."
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