Nathan Look's blog

Bill Gates, the co-founder of Microsoft, is a prime example of an entrepreneur. He essentially created a new product and a new market to house that product. Gate’s innovation can be considered one of the defining moments in history of technological advancements. With his new operating system for the PC, he became the world’s youngest billionaire (not anymore), and eventually the richest man in the world. However, as he became wealthier, his focus turned from maximizing profits to maximizing the amount of social good he brought to this world. The most recent example of this turnaround is The Bill & Melinda Gates Foundation pledge of $500 million to a help people living in squalor to create a banks accounts, particularly savings accounts.

Gates recognized the problem that poor people could not create savings accounts due to the fact that it costs money to maintain savings accounts, which is more than people who are living off $2-3 a day can afford. That is why he is funding various projects, such as mobile banking. Mobile banking is virtually negating all costs that are incurred with traditional banking. His goal is to raise the living standards of those most in need, and using technology to create easy to access bank accounts is currently his modus operandi to see his goal reach fruition.

A younger Bill and Melinda Gates