Today, Forethought and I are releasing an essay series called Better Futures, here.[1] It’s been something like eight years in the making, so I’m pretty happy it’s finally out! It asks: when looking to the future, should we focus on surviving, or on flourishing?
In practice at least, future-oriented altruists tend to focus on ensuring we survive (or are not permanently disempowered by some valueless AIs). But maybe we should focus on future flourishing, instead.
Why?
Well, even if we survive, we probably just get a future that’s a small fraction as good as it could have been. We could, instead, try to help guide society to be on track to a truly wonderful future.
That is, I think there’s more at stake when it comes to flourishing than when it comes to survival. So maybe that should be our main focus.
The whole essay series is out today. But I’ll post summaries of each essay over the course of the next couple of weeks. And the first episode of Forethought’s video podcast is on the topic, and out now, too.
The first essay is Introducing Better Futures: along with the supplement, it gives the basic case for focusing on trying to make the future wonderful, rather than just ensuring we get any ok future at all. It’s based on a simple two-factor model: that the value of the future is the product of our chance of “Surviving” and of the value of the future, if we do Survive, i.e. our “Flourishing”.
(“not-Surviving”, here, means anything that locks us into a near-0 value future in the near-term: extinction from a bio-catastrophe counts but if valueless superintelligence disempowers us without causing human extinction, that counts, too. I think this is how “existential catastrophe” is often used in practice.)
The key thought is: maybe we’re closer to the “ceiling” on Survival than we are to the “ceiling” of Flourishing.
Most people (though not everyone) thinks we’re much more likely than not to Survive this century. Metaculus puts *extinction* risk at about 4
Even if I nailed the macro trends prediction, the Fed lowered interest rates, I cannot predict presidential tweets. Realistically, starting from the bottom you want to invest in low cost index funds.
VCs have a lot of capital to invest and only a few plays can make up for all their losses and then some. Most people cannot beat the market. I could spend all my time trying to squeeze out a few extra percent. However, I still would not know if I am a good investor with smart money or a dumb one who got lucky.
I can compound my investments historically around 10% per year. Including inflation puts the real dollar return at 8% per year. If I want more growth I really need to earn a higher salary. With a tighter job market, from lower interest rates and lower levels of natural unemployment, means switching jobs creates double digit raises. The trend in business is wage compression where people with more experience who continue to work for the same employer are only given inflation wage adjustments but never any real wage growth.
https://www.forbes.com/sites/cameronkeng/2014/06/22/employees-that-stay-in-companies-longer-than-2-years-get-paid-50-less/#6a133b87e07f
People should invest in index funds since they require no thought and do better than most managed investments. But this also frees up time to change careers and grow your income which is often easier to do, has a better return, and is under their direct control.
The excess income should go into index funds until someone can choose if they want to continue to work.
Index altruism might be a better strategy for most people too. If someone can identify a more altruistic charity that does more good then the efficient market hypothesis should quickly level the playing field. Maybe there is more smart money in investing that becomes dumb money when giving it away?