This is interesting only because Mark didn&#x27;t address it head on from the start, but honestly it&#x27;s not all that surprising.<p>Private foundations have something called &quot;expenditure responsibility&quot; which makes giving funds to a taxable entity (a grant) tremendously annoying.  Any misstep makes you liable to some massive surcharges, public scrutiny, and potentially major headaches.  It&#x27;s the antithesis to Mark&#x27;s &quot;move fast and break things&quot;<p>There&#x27;s some argument he should push for a public charity instead.  There, expenditure responsibility isn&#x27;t expressly required, but you&#x27;re still expected to see that the money you grant is used for our charitable purpose, and still subject to audit.<p>I&#x27;m expecting them to write quite the essay in response. On it&#x27;s face, I don&#x27;t think people should fault this decision.  I&#x27;m fully expecting a strong effort to use this money efficiently, which is no easy task with such a massive sum. Check out GiveWells recent post about trying to &quot;give away&quot; Dustin Moskiwitz and Cari Tuna&#x27;s money - which I believe is an order of magnitude less in volume, but still very challenging.