Why the Third World Needs Capital Not Charity

But since then, with a combination of good fortune and a lot of business sense Microsoft grew to become one of the world's largest companies. Over that time it has directly employed millions of people in tens of countries.

And indirectly millions of more people have been employed in the technology industry thanks to the influence of Microsoft and other technology companies.

But importantly, Microsoft has enabled the growth of new technologies and new businesses as it has been made easy and affordable to bring new computer-age technology to the home.

Computing was transformed from the age of mainframes and reel-to-reel tape, into personal computers thanks to business acumen and the pursuit of profits for the company and the selfish pursuit of wealth by Gates and the other Microsoft cohorts.

But the business acumen and selfish pursuit of wealth wouldn't have been possible if it wasn't for one crucial ingredient… capital.

Without capital - either yours or someone else's - investing is impossible.

Look, today almost every home has a computer. And there would barely be a business that doesn't use one for some purpose. Even the humble milk bar uses computers to manage inventory and do the books.

Even billionaire Buffett needed capital to get started. He convinced friends, family and strangers that he knew a good business when he saw one. So, they gave him money. But not as a charitable donation.

They gave him money because they believed Buffett would eventually give them back their capital plus more - profits. Even perhaps super profits to use the Fairy Ruddfather's lingo.

Buffett believed he knew the secrets of identifying value in companies. His investments and his influence over the companies he invested in has created billions of dollars in wealth.

Companies became more profitable, employed more people, and shareholders in Berkshire Hathaway saw the price of their shares soar from USD$60 or so per share in the 1960s to over USD$123,000 per share today!

But now Gates and Buffett have convinced themselves that entrepreneurialism isn't the best way to spread wealth and well-being.