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Epstein File EFTA01914839: Philanthropy and Silicon Valley (DS10)

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This document, dated July 19, 2014, contains email correspondence distinguishing between philanthropy/grants and business investments, with references to Michael Milken and Silicon Valley investment practices compared to NSF and NIH funding models. The discussion addresses risk and financial returns in investment versus charitable giving.

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Sent: Sat 7/19/2014 7:06:12 PM Subject: Re: this is not **philanthropy** or a grant it is biz , that means risk return and return means real dollars. milken
Excerpt 2
**Silicon** **Valley** operates in a similar way to NSF and NIH in this respect. SV does front load large amounts--but they don't then just walk away.

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