Money Matters - Simplified

Facebook co-founder donates $100000 to back Proposition 19

Dustin Moskovitz and Sean Parker (seen in picture), two Facebook co-founders, have collectively donated $170,000 to the campaign to legalize cannabis in California, ahead of a Nov. 2 vote on the measure.

Facebook co-founder Sean Parker is said to be contributing $100,000 (£62,640) to the campaign for Proposition 19, the measure that will ensure legalization of cannabis in California.

Parker has chipped in with the donation after his fellow co-founder, Dustin Moskovitz made two donations totaling $70,000.

Welcome contribution
The 30-year-old Parker, who still has stakes in Facebook worth millions, was the social networking site’s first president in its early stages. He however parted ways after being busted for cocaine possession.

Stephen Gutwillig, a spokesman for the pro-legalization group Drug Policy Alliance said of the donation, "What's interesting here is that [Parker] is a member of the generation that really gets it. We think he's pivotal to the future of drug policy reform in the country."

Parker is credited with revolutionizing the music industry by setting up the Napster music-sharing system. At that time, Parker was only 19.

At present Parker is a managing partner at a venture capital fund in San Francisco.

Stephen Gutwillig, a spokesman for the pro-legalization group Drug Policy Alliance said of the donation, "What's interesting here is that [Parker] is a member of the generation that really gets it. We think he's pivotal to the future of drug policy reform in the country."

The donation provides a huge relief to the supporters of the measure as they were short of cash in the run-up to a vote on Nov. 2.

The ballot for Proposition 19, also known as the Regulate, Control and Tax Cannabis Act of 2010, coincides with mid-term elections for a new California governor.

The push to legalize pot represents yet another example of California's pioneering spirit.

"California is not only the largest state, it is the place where social movements begin," writes Time's Adam Cohen.

A recent survey by Public Policy Polling indicates that the voters will approve legalizing cannabis.

The survey revealed 47 percent in favor of the measure as against 38 percent against it.

The opponents
Though majority might approve legalization, there is still a strong lobby that wants that the proposition should not see the light of the day.

This section of the society argues that legalization of the pot would only increase the number of people who are addicted to the drug.

This, in turn, would contribute to more automobile accidents and erode school performance, aver the detractors.

Felipe Calderon, president of Mexico, insisted that the U.S. federal government should do more to oppose Proposition 19.

"I think Americans have very little moral authority to condemn a Mexican farmer who for hunger is planting marijuana to sustain the insatiable North American market for drugs," said Calderon.