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I've seen people expressing bafflement that the average midwit on Reddit might think they could run Musk's assets better than Musk if they had the same luck/unscrupulousness to have the same resources. I ask, after seeing Musk apparently fail to understand Wikipedia costs money to provide, who wouldn't?
The most charitable read here is that Musk thinks Wikipedia deserves less money, not no money, and, like, ok Elon, I think you deserve less money and if you don't care about that opinion, why should they?
Here's an honest question: many people in the comments here are saying that Wikipedia could be run for about 5-10% of the donations it receives each year. Given that, it would only take a couple years for Wikipedia to collect enough donations to set up an endowment that would pay their costs in perpetuity without ever needing to do any fundraising again (usually one can expect to withdraw 4-5% of an endowment each year without eating into the principal). Is the Wikimedia foundation already doing something like this? If not, has anyone proposed it and has the Wikimedia foundation explained why it's not doing it?
They already did that; there's a $100 million Wikimedia Endowment. But WMF keeps asking for money and then figuring out things to do with it (in many cases, re-donating it).
Good point. Actually, after making my comment I tried looking at the Wikimedia Foundation's financial statements and noticed they listed about $5 million per year in returns on investments, which is about in line with a $100 million endowment. Arguably $5 million per year is not quite enough to keep Wikipedia running but it's probably close.
It is enough, you can look up their financial reports. They spend more money on donation processing than on actually hosting the website, true story.
I don't think it's obvious that $5 million per year is enough to support Wikipedia. Certainly it is enough for web hosting, but presumably they need at least a few employees (e.g. sysadmins, a few programmers and web developers) and it also seems like a good idea to retain some legal counsel and some people to manage the other employees, do the accounting, etc. This does not cost a huge amount of money, but could easily be a few million.
But if you have a detailed argument that Wikipedia could be run for $5 million per year I would be interested in hearing it (I mean this sincerely, it seems like an interesting topic).
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