Missing The PointOct 23, 2023
The difference between Wikipedia and Twitter is that Wikipedia is intentionally a non-profit.
Show threadThaiis Thei 𓁟

@MissingThePt A broken clock is correct twice a day. There is a genuine issue here. WP is sitting on nearly 270 million in cash and yet it is continually begging for money.

https://www.dailydot.com/debug/wikipedia-endownemnt-fundraising/

Wikipedia is swimming in money—why is it begging people to donate?

The site is way richer than it wants you to know.

The Daily Dot
Oct 23, 2023 at 3:00amWeb
Show threadluvadergolderOct 23, 2023
@Oozenet @MissingThePt donations would be for overhead, but infrastructure changes do require mass capital. With the size and reach wiki has, even a small project would require mass funds injection. I’m not fussed about the money; at least we know about it and it’s not squirrelled away on some island somewhere.
Show threadThaiis Thei 𓁟Oct 23, 2023
@luvadergolder @MissingThePt I sincerely hope no squirreling is being done, but there are gaps in the financials, as that essay explains.
Show threadJames EndicottOct 23, 2023
@Oozenet @MissingThePt

Yes, that's how endowments work. You have a big pile of money and you don't touch the principle. You throw that pile in a low-risk/low-yield fund and take a fraction of the annual earnings as usable money while the rest gets added to the pile. It's currently the best system for trying to maintain an organization over the long term.

Don't listen to crap written by a guy who used to be a big Wikipedia editor who got the boot after whining about wokeness rotted his brain.
Show threadOral RobOct 23, 2023

@Oozenet @MissingThePt Well, there's always the risk of something going wrong. Wikipedia and the other Wikimedia sites are a big element of the modern-day internet, almost like a community library. I would prefer that they have the funds to go months, years even, without any income. I'd prefer that before they begin serving targeted ads and invading privacy.

Besides, most readers don't give, and those that do give within what's feasible. The Wikimedia Foundation is not forcing you to pay.

Show threadOral RobOct 23, 2023

@Oozenet @MissingThePt That said, though, there is the issue of runaway spending which I found out about in a community essay here https://en.wikipedia.org/wiki/User:Guy_Macon/Wikipedia_has_Cancer

And I'd rather these reserves not be eaten up by unnecessary employees and cause the encyclopedia to collapse should donations come to a halt

User:Guy Macon/Wikipedia has Cancer - Wikipedia