I don't know if altruism exists. I don't even know what "exists" means in this context. Does the color orange exist? Or is it just an arbitrary name we give something we perceive, dependent entirely on our own language? I do think that pure altruism is overrated though.

On some level I think to be successful at a business you have to think in some way you are making the world a better place. You might not be doing that purely altruistically. Indeed you are probably interested in money too. But to be successful you have to think you are doing something cool that makes peoples lives better.

I think reciprocity is ultimately better than pure altruism for a couple of reasons. First, if you expect to make a profit, you have a cushion to continue your work when things go downhill. I have heard of not-for-profit magazines ceasing publication because of a lack of such a buffer and having to deal with unexpected expenses, for example.

Secondly interdependence is a good thing, and it is spiritually nourishing (I mean this not in the sense of supernatural but in the sense of one's mood and spirit).

Thirdly reciprocity helps ensure that the actions actually are being seen by others as valuable and worth supporting. This prevents some sorts of hubris-related mistakes.

I don't know if altruism exists. I do know that reciprocity-based economic interdependence is something I value a lot more.