Philanthropic Foundations Investing in For-Profits?

Google.gifThe Google Foundation is considering backing for-profit ventures that have a positive social impact, adding to the list of those who believe that doing good is a good investment. Ben Cohen, formerly of Ben & Jerry’s, does the same thing with his Barred Rock venture capital fund, as does the conspicuously reticent Omidyar Network; read the USA Today article here. (via Google alerts, go figure.)
Like the sound of of Google’s latest contribution to Not Being Evil? Apply to be the foundation’s Executive Director.