As an organization committed to learning, we continuously reflect on what it means to achieve complex goals in a complex world. The question we are currently grappling with: How is the tech system changing and how are our efforts contributing to that change? Asking and answering these questions has helped us design our strategy for the next five years.
As we wrap up 2024, we are applying the insights, tools, and networks that drove positive social change under our previous strategies to finalize new goals to advance our new mission—bending the arc of the digital revolution toward shared power, prosperity, and possibility. Here we’re sharing three critical lessons we’ve learned while working toward reimagining capitalism, building cultures of belonging, and advancing responsible technology over the past six years. Alongside each lesson, we also point out signs of progress from the past year.
None of this progress would have been possible if not for the incredible efforts of the hundreds of partners whose expertise and actions drove our collective impact. Your contributions to society’s economic, cultural, and tech systems are nothing short of remarkable.
1. We must expand who funds, makes, and governs tech.
At Omidyar Network, we have learned that injecting the system with new perspectives produces more inclusive and responsive products, services, and institutions. For example, shaping an inclusive AI future requires amplifying diverse voices and worldviews, particularly from people historically underrepresented in technological development. We’ve also learned how important these views are as countervails and checks on the industry’s power.
Over the years, we have broadened our definition of tech leader to include groups working outside and around the conventional tech sector. Pioneering nonprofits applying Indigenous approaches to data ethics and ownership and Black entrepreneurs addressing disparities and oppression within the tech world are just as vital to a healthy system as a trained engineer. This year, we are proud to have deepened our relationships with new sources of tech power like Equity Engine, Media Justice, Mijente, and Power Rising, as well as Black Innovation Alliance, Kinfolk Tech, Native Nations Institute, National Black Tech Ecosystem Association, and The Tech We Want.
We also expanded our investments in HBCUs and saw firsthand how they are well-positioned to create an AI future that serves everyone. We are proud to support our partners at Stillman College, Hampton University, Morehouse College, Spelman College, Howard University, and other minority-serving institutions that are leading AI ethics research, championing women’s role in tech, and addressing biased data sets.
In 2024, we also supported the second Black Tech Effect report. The research celebrates the success of 100 promising Black-led, high-growth tech companies. It lays the groundwork for changing the tech environment by giving visibility to underrepresented founders. We believe this report will bridge the data gap on Black-led tech companies, promote inclusivity, and attract more investors to these founders.
We’ve taken notice of the need to work together in diverse coalitions to bring new voices into our institutions and conversations about technology as well. Earlier this year, an alliance of parents and young people—with harrowing stories about how online content, cyberbullying, and exploitation forever changed their lives—were instrumental in inspiring policymakers to action. Because of their brave advocacy, the US Senate passed the Kids Online Safety Act and Maryland adopted the Age Appropriate Design Code. Similarly, workers’ voices have shaped the tech economy to be more inclusive so that technology augments jobs and wages rather than replaces them altogether. We saw this clearly with the victorious Hollywood writers’ strike and the AFL-CIO Tech Institute’s Labor Innovation & Technology Summit.
2. Investors, government, and narratives can drive better choices.
Investors
As long-time impact investors, we know rules and regulations can incentivize markets, investors, and corporations to make decisions that consider their impact on society. This past year, we were grateful the US Department of Labor did just that when they released comprehensive principles and best practices related to AI and worker well-being. Additionally, we are pleased to report that five major pension funds (managing more than $1 trillion in assets) now require robust labor standards in their private equity investments, safeguarding against the industry’s tendency to lower wages, fight unionization, and cut jobs. These are important building blocks toward a digital future where AI augments human capacity rather than replaces it.
We’ve also been collaborating with state and city pension funds, the Interfaith Center for Corporate Responsibility, World Benchmarking Alliance, other limited partners and family offices, and Stanford Law School to design a first-of-its-kind AI governance curriculum. The free, online program kicks off in early January for investors, executives, and board members.
This spring, Omidyar Network also led a consortium of philanthropies that invested in Anthropic, a leading generative AI company recognized for its commitment to transparency, accountability, and safety. Together, we are applying “constructivist“ investing principles and helping Anthropic adhere to its social and mission commitments.
Government
Government can also proactively shape the system through industrial policy, public investment, public goods, R&D, and enforcement. This past year, 36 cross-sector partners supported the National AI Research Resource pilot, which connects US researchers to computational, data, software, model, and training resources. To complement this, the US Departments of Commerce and State recently launched the International Network of AI Safety Institutes at NIST, a new global effort to advance the science of AI safety and enable cooperation on research, best practices, and evaluation. Omidyar Network was honored to come in as a partner on the ground floor of both of these important initiatives.
While on stage at WIRED’s The Big Interview earlier this month, our CEO Mike Kubzansky also discussed the government’s role in appropriately regulating industries and safeguarding competition. To this end, we are pleased to see the landmark ruling earlier this year on Google’s search monopoly, supporting market competition and consumer choice.
On the global front, we also saw the United Nations adopt the Global Digital Compact, which commits 193 governments to uphold international law and human rights online and to take concrete steps to make the digital space safe and secure. We are proud to have supported the UN’s High-Level Advisory Body on Artificial Intelligence and the consultation process that contributed to this milestone.
Narratives
These lessons also point to the need to tell different stories about tech. The problematic “zero-sum,” “self-reliance,” or “regulation hurts innovation” narratives only serve to limit what is possible. To create the conditions all innovations and society need to truly flourish, we need to seed new narratives about technology that position people as the protagonists in our digital future. We are actively sharing stories about people having the power to shape technology and society’s relationship (as opposed to passively letting the digital revolution impact society), the value of a diverse tech sector, the need for checks and balances from the public sector, and the role of workers in tech decision-making.
Standout examples from the past year come from Omidyar Network’s Reporters in Residence and our partnership with The Associated Press. Through their award-winning journalism they’ve shown us that when guided well, digital technology makes wondrous things happen. Left unchecked, their stories demonstrate that it can deepen social divides and concentrate power in the hands of a few.
Additionally, we launched a series of discussions and workshops with artists, television writers, fashion designers, and other creatives to inspect AI’s impact on those communities. Look out for more convenings at the intersection of technology and the entertainment industry early next year at Sundance Film Festival and SXSW.
3. Philanthropies need to work together to shape our digital future.
It takes a village to change a system. Philanthropy’s collective voice and coordinated resources help generate greater impact. If funders move with fragmented approaches and false trichotomies, we will continue to punch well below our weight and make our grantees’ work that much harder.
Thankfully, we saw many signs of philanthropy’s collaborative spirit in 2024. We announced a joint $25 million commitment with Kapor Foundation and San Francisco Foundation to fund organizations that center equity in the advancement of generative AI. We also continued our participation alongside 11 other funders in the Responsible Tech Youth Power Fund. The fund supports youth and intergenerationally-led nonprofit organizations shaping the responsible technology movement—stay tuned for an announcement in January of the fund’s new cohort of young leaders. And we joined dozens of other funders contributing to the Biden Administration’s commitments to advance technology that protects our safety, security, democratic values, and human rights. One of our managing directors Anamitra Deb also made a strong case for collective action in “Philanthropy’s Urgent Opportunity to Create the Interim International AI Institution.”
At this critical juncture in our country, our network’s strength and commitment to a shared vision for our digital future are even more important. There will be opportunities to advance our work and create a positive impact even as we navigate new complexities and potential headwinds. Whether you’re a philanthropist, investor, technologist, policymaker, or simply someone who cares about tech’s outsized role in our lives, we hope you will join us.
We are excited to share more details about our new strategy early next year that will build on the solid foundation of our 20-year history as we shift to our tech-focused strategy.
Until then, happy holidays! May the new year renew and deepen our impact together.
