TechCrunch Industry News The billionaires made a promise — now some want out
Mar 16, 2026
A look at the Giving Pledge’s origins and how billionaires promised to give most of their wealth away. Discussion of shrinking signatories and why some are reconsidering the commitment. Examination of Silicon Valley’s cultural shift from idealism to profit-first attitudes. Contrast between private philanthropic vehicles and public needs for basic survival.
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Tech's Altruistic Rhetoric Has Lost Credibility
- Silicon Valley's rhetoric about "making the world better" has been widely mocked and eroded.
- HBO's Silicon Valley pressured companies to stop using that phrase after repeated satire exposed its hollow feel.
Ideals Versus Libertarian Tech Values
- A cultural split exists between older 'hippie' tech values and a newer Ayn Rand–influenced libertarian wing.
- Roger McNamee and Mike Judge framed it as a titanic battle shaping priorities: idealism vs profit-driven libertarianism.
Peter Thiel Urged Signers To Exit
- Peter Thiel has actively encouraged signers to leave the Pledge and privately urged about a dozen to undo their commitments.
- He called the Pledge "an Epstein-adjacent fake boomer club" and congratulated Coinbase CEO Brian Armstrong when his letter disappeared.