Salesforce CEO on Fighting Poverty in San Francisco

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March 7 (Bloomberg) -- Salesforce is turning 15. However, instead of a party, the company's Chief Executive Marc Benioff is focusing on ending poverty. Today, the philanthropic tech leader announced the implementation of SF Gives. The nonprofit hopes to raise $10 million in the next 60 days for antipoverty programs in the Bay Area. Bloomberg's Cory Johnson spoke with Marc Benioff. (Source: Bloomberg)

Implementation, sfgives.

It hopes to raise money for an type haverty programs aimed at the bay area.

We spoke with the chief executive about this new program.

You have a serious issue.

The buses are very symbolic so it is very physical.

You can see what is happening.

People are getting thrown out of their homes and tech is not organized in a smart way to get back.

We are changing those things.

Salesforce is an example.

We put money into a foundation.

It was easy.

We had no profit or employees but now we have given half a million hours of time.

We partnered with tipping point and created sf gives.

We are announcing over 12 companies that have committed to over $5 million and charitable donations.

We're focused on $100 million and this is an exciting moment.

Kind of a drop in the bucket.

What do you say to companies that are not doing that?

It is drop in the bucket and there is more than we can do.

This is a nirvana.

We are in this incredible city, it is a great place to start a company.

Entrepreneurs are starting their company but do not come to take from us, give back.

Isn't that what taxes are for?

Taxes are part of giving back but as we know, taxes do not do everything.

We have this amazing concert happening and we have an unbelievable homeless situation happening at the same time.

There is a tech boom but it is a lot more urban.

You have always been here and not to dash down there in the valley.

It did not want to drive anymore.

That is right much how people feel.

It is more fun to be in the city.

The restaurants are better, there is more energy, it is more exciting.

It is much more fun to be in a city campus like salesforce than to be on the traditional silicon valley location.

Is hiring more difficult here?

I heard -- found hiring to be easier.

We have mass transportation.

The bart shows up right near our office.

When you are in the south bay you are limited by who can drive to the office.

Joining me now from france -- san francisco is cory johnson.

Anything else you took away from the interview with marc benioff?

There is a lot of reasons to criticize the stock.

I have to say that this is a good thing this company does and it is a good thing that the company gets themselves out there.

He is out there screaming to the high heavens about the charity they are doing.

They're trying to encourage others to do the same thing.

With a company like yelp which was a crazy thing that a couple of guys thought of in an apartment, it has on he and a charitable foundation.

There is an effort to create this kind of institutionalized charitable giving.

That is a great thing.

They track the money that they raise and what happens to it, how do they measure success?

Salesforce software.

And they insist employees give a certain amount of their time to charity.

The first work -- week is spent doing charity work.

Salesforce has inculcated all this into their culture.

If you are taking money and spending it and creating jobs in the nonprofit sector, can you make the argument that that money would be better spent creating jobs rather than just creating this nonprofit culture that does not necessarily produce anything like a job?

Rex one of the things we start to see when tech companies get involved in charity, a lot of the tech anthony's are doing a lot about measuring how much actually gets to the recipients.

One of the organizations that they are working with today is an organization called thrive.

It takes charitable donations from their board members to run the operation so that every dime raised goes directly to the recipients of that aid.

None of it goes to management.

You see a lot of that in the charitable works that these technology companies are engaged in.

What has been the reaction of local politicians?

When you have a guy like marc benioff writing checks, they

This text has been automatically generated. It may not be 100% accurate.

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