# kaal:claim:4685567-004

**Claim.** Because Impact 1.0 entrusted individual donors rather than donor collectives with identifying which problems to solve, individual philanthropists can reshape underfunded causes according to their own ideals without meaningful checks and balances or crowd wisdom.

**Type.** failure  **Support.** argued

**Holds when.**

- Impact 1.0 and 2.0 philanthropic strategies
- high net worth individual and corporate donors

**Source quote.**

> Individual philanthropists can leverage underfunded causes and reshape them according to their ideals without significant checks and balances or crowd wisdom considerations.

**From.** Wulf A. Kaal, *Impact Investing Innovation - From Impact 1.0 to 3.0* (2024), Introduction, page 5

**Cite as.** Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024). SSRN: https://ssrn.com/abstract=4685567

**Verify.** sha256 of source PDF `87fb1be89d2661967ed2b0b673fe26448ded3bc3119b122177a4fc13ae5c085c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202024%20-%20Impact%20Investing%20Innovation%20-%20From%20Impact%201.0%20to%203.0.pdf

**Failure mode.** Unchecked Individual Donor Agenda  (family: plutocratic-capture)

**Topics.** institutional-design

**Keywords.** donor-power, checks-and-balances, crowd-wisdom, misallocation, impact-1-0

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