I wanted to share this update from Good Ventures (Cari and Dustin’s philanthropy), which seems relevant to the EA community.
Tl;dr: “while we generally plan to continue increasing our grantmaking in our existing focus areas via our partner Open Philanthropy, we have decided to exit a handful of sub-causes (amounting to less than 5% of our annual grantmaking), and we are no longer planning to expand into new causes in the near term by default.”
A few follow-ups on this from an Open Phil perspective:
- I want to apologize to directly affected grantees (who've already been notified) for the negative surprise here, and for our part in not better anticipating it.
- While this represents a real update, we remain deeply aligned with Good Ventures (they’re expecting to continue to increase giving via OP over time), and grateful for how many of the diverse funding opportunities we’ve recommended that they’ve been willing to tackle.
- An example of a new potential focus area that OP staff had been interested in exploring that Good Ventures is not planning to fund is research on the potential moral patienthood of digital minds. If any readers are interested in funding opportunities in that space, please reach out.
- Good Ventures has told us they don’t plan to exit any overall focus areas in the near term. But this update is an important reminder that such a high degree of reliance on one funder (especially on the GCR side) represents a structural risk. I think it’s important to diversify funding in many of the fields Good Ventures currently funds, and that doing so could make the funding base more stable both directly (by diversifying funding sources) and indirectly (by lowering the time and energy costs to Good Ventures from being such a disproportionately large funder).
- Another implication of these changes is that going forward, OP will have a higher bar for recommending grants that could draw on limited Good Ventures bandwidth, and so our program staff will face more constraints in terms of what they’re able to fund. We always knew we weren’t funding every worthy thing out there, but that will be even more true going forward. Accordingly, we expect marginal opportunities for other funders to look stronger going forward.
- Historically, OP has been focused on finding enough outstanding giving opportunities to hit Good Ventures’ spending targets, with a long-term vision that once we had hit those targets, we’d expand our work to support other donors seeking to maximize their impact. We’d already gotten a lot closer to GV’s spending targets over the last couple of years, but this update has accelerated our timeline for investing more in partnerships and advising other philanthropists. If you’re interested, please consider applying or referring candidates to lead our new partnerships function. And if you happen to be a philanthropist looking for advice on how to invest >$1M/year in new cause areas, please get in touch.
I am skeptical that a new large philanthropist would be well-advised by doing their grantmaking via OP (though I do think OP has a huge amount of knowledge and skill as a grantmaker). At least given my current model, it seems hard to avoid continuing conflict about the shared brand and indirect-effects of OP on Good Ventures.
I think any new donor, especially one that is smaller than GV (as is almost guaranteed to the the case), would end up still having their donations affect Good Ventures and my best understanding of the things Dustin is hoping to protect via this change.
If Dustin can't communicate that he doesn't endorse every aspect of, or can't take responsibility for, everything that is currently funded through OP, I doubt that the difficult-to-track "from which source did OP spend this money" aspect of an additional donor would successfully avoid the relevant conflicts.
My best guess is that if OP attracts an additional large donor above ~$200M, it seems best for some people to leave OP, establish a new organization that the now donor would actually be confident will be independent from Dustin's preferences, while maintaining a collaborative relationship with OP to share thoughts and insights.
I am not super confident of this, but I don't see a clear line that would allow a new donor to have confidence that OP staff isn't still going to heavily take into account Dustin's reputation and non-financial priorities in the recommendations to the new donor.