On 23rd August, Nick Beckstead stepped down from the boards of Effective Ventures UK and Effective Ventures US.
For context, EV UK and EV US host and fiscally sponsor several (mostly EA-related) projects, such as CEA, 80,000 Hours and various others (see more here).
Since November 2022, Nick has been recused from all board matters related to the collapse of FTX. Over time, it became clear that Nick’s recusal made it difficult for him to add sufficient value to EV and its projects for it to be worth him remaining on the boards[1]. Nick and the other trustees felt that this was sufficient reason for Nick to step down.
Nick wanted to share the following:
Ever since the collapse of FTX, I've been recused from a substantial fraction of business on both boards. This has made it hard to contribute as much as I would like to as a board member, during a time where engaged board members are especially important. Since this situation may not change for a while, I think it's a good time for me to step down.
I am grateful to have played a role in getting EV UK and EV US off the ground and helping them develop over the last 14 years since the launch of Giving What We Can. Projects at EV have accomplished a great deal, drawing substantial resources and attention toward addressing some of the world's most pressing problems, with impacts that are varied, large, and difficult to quantify. The people at EV are amongst the most thoughtful, generous, kind, and dedicated that I've had the pleasure to interact with. I feel very proud of all that we have accomplished together, and optimistic about the work that will continue in my absence.
As a founding board member of EV UK (then called CEA), Nick played a vital role in getting EV US, EV UK and their constituent projects off the ground. For example, Nick was involved in setting up the first Giving What We Can student group and helped to hire the first full-time staff at what was then CEA. We are very grateful to Nick for everything he’s contributed to the effective altruism movement to date and look forward to his future positive impact; we wish him the best of luck with his future work.
- ^
This is because the recusal affected not just decisions that were directly related to the collapse of FTX, but also many other decisions for which the way EV UK and EV US have been affected by the collapse of FTX was important context.
(My personal views only, and like Nick I've been recused from a lot of board work since November.)
Thank you, Nick, for all your work on the Boards over the last eleven years. You helped steward the organisations into existence, and were central to helping them flourish and grow. I’ve always been impressed by your work ethic, your willingness to listen and learn, and your ability to provide feedback that was incisive, helpful, and kind.
Because you’ve been less in the limelight than me or Toby, I think many people don’t know just how crucial a role you played in EA’s early days. Though you joined shortly after launch, given all your work on it I think you were essentially a third cofounder of Giving What We Can; you led its research for many years, and helped build vital bridges with GiveWell and later Open Philanthropy. I remember that when you launched Giving What We Can: Rutgers, you organised a talk with I think over 500 people. It must still be one of the most well-attended talks that we’ve ever had within EA, and helped the idea of local groups get off the ground.
The EA movement wouldn’t have been the same without your service. It’s been an honour to have worked with you.