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FTX’s Collapse Casts a Pall on ‘Effective Altruism’ Movement

The Facebook and Asana co-founder Dustin Moskovitz and his wife, Cari Tuna, have said they are devoting much of their fortune to effective-altruist causes.

“I don’t know yet how we’ll repair the damage Sam did and harden EA against other bad actors,” Mr. Moskovitz wrote in a tweet on Saturday. “But I know that we’re going to try, because the stakes remain painfully high.”

As recently as last month, the umbrella FTX Foundation said it had given away $140 million, of which $90 million went through the FTX Future Fund dedicated to long-term causes. It is unclear how much of that money made it to the recipients and how much was earmarked for giving in installments over several years.

Asked whether he had set up any kind of endowment for his giving, Mr. Bankman-Fried said in the Times interview last month: “It’s more of a pay-as-we-go thing, and the reason for that, frankly, is I’m not liquid enough for it to make sense to do an endowment right now.”

A significant share of the grants went to groups focused on building the effective altruist movement rather than organizations working directly on its causes. Many of those groups had ties to Mr. Bankman-Fried’s own team of advisers. The largest single grant listed on the Future Fund website was $15 million to a group called Longview, which according to its website counts the philosopher Mr. MacAskill and the chief executive of the FTX Foundation, Nick Beckstead, among its own advisers.

The second-largest grant, in the amount of $13.9 million, went to the Center for Effective Altruism. Mr. MacAskill was a founder of the center. Both Mr. Beckstead and Mr. MacAskill are on the group’s board of trustees, with Mr. MacAskill serving as the chair of the United Kingdom board and Mr. Beckstead as the chair of the U.S. subsidiary.

The FTX Foundation itself had little to no oversight beyond Mr. Bankman-Fried’s close coterie of collaborators. According to its website, the board of the FTX Foundation comprised Caroline Ellison, the head of Alameda Research, the hedge fund Mr. Bankman-Fried founded; Gary Wang, the chief technology officer of FTX; and Nishad Singh, director of engineering at FTX.



Sumber: www.nytimes.com

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