English: Dan Pallotta got a roaring standing ovation at the closing session of TED 2013. I agree with the importance of the topic – fixing philanthropy is critical for the future.

His TED Talk went online today:

"The nonprofit sector is critical to our dream of changing the world. Yet there is no greater injustice than the double standard that exists between the for-profit and nonprofit sectors. One gets to feast on marketing, risk-taking, capital and financial incentive, the other is sentenced to begging.”

“Business will move the mass of humanity forward but will always leave the bottom behind.”

“Philanthropy is the market for love.”

“Non-profits have been a flat 2% of GDP since 1970. How can you take market share if you can’t market?”

“Between 1970 and 2009 the number of nonprofits that grew to over $50M of annual revenue was 144, versus 46,136 for-profit companies in the same period.”

“From old Puritan beliefs, charity was penance for profit making. How can you make money in charity if charity was your penance for making money?”

“Don’t ask about a charity’s overhead percentage. Ask about the scale of their dreams, how they measure progress and how they plan to execute.”