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Edit to add (9/1/2023): This post was written quickly and I judged things prematurely. I also regret not reaching out to Effective Ventures before posting it. Regarding my current opinion on the Abbey: I don't have anything really useful to say that isn't mentioned by others. The goal of this post was to ask a question and gather information, mostly because I was very surprised. I don't have a strong opinion on the purchase anymore and the ones I have are with high uncertainty. More thoughts in my case for transparent spending.

Yesterday morning I woke up and saw this tweet by Émile Torres: https://twitter.com/xriskology/status/1599511179738505216

I was shocked, angry and upset at first. Especially since it appears that the estate was for sale last year for 15 million pounds: https://twitter.com/RhiannonDauster/status/1599539148565934086

I'm not a big fan of Émile's writing and how they often misrepresent the EA movement. But that's not what this question is about, because they do raise a good point here: Why did CEA buy this property? My trust in CEA has been a bit shaky lately, and this doesn't help.

Apparently it was already mentioned in the New Yorker piece: https://www.newyorker.com/magazine/2022/08/15/the-reluctant-prophet-of-effective-altruism#:~:text=Last year%2C the Centre for Effective Altruism bought Wytham Abbey%2C a palatial estate near Oxford%2C built in 1480. Money%2C which no longer seemed an object%2C was increasingly being reinvested in the community itself.

"Last year, the Centre for Effective Altruism bought Wytham Abbey, a palatial estate near Oxford, built in 1480. Money, which no longer seemed an object, was increasingly being reinvested in the community itself."

For some reason I glanced over it at the time, or I just didn't realize the seriousness of it.

Upon more research, I came across this comment by Shakeel Hashim: "In April, Effective Ventures purchased Wytham Abbey and some land around it (but <1% of the 2,500 acre estate you're suggesting). Wytham is in the process of being established as a convening centre to run workshops and meetings that bring together people to think seriously about how to address important problems in the world. The vision is modelled on traditional specialist conference centres, e.g. Oberwolfach, The Rockefeller Foundation Bellagio Center or the Brocher Foundation.

The purchase was made from a large grant made specifically for this. There was no money from FTX or affiliated individuals or organizations." https://forum.effectivealtruism.org/posts/Et7oPMu6czhEd8ExW/why-you-re-not-hearing-as-much-from-ea-orgs-as-you-d-like?commentId=uRDZKw24mYe2NP4eq

I'm very relieved to hear money from individual donors wasn't used. And the <1% suggests 15 million pounds perhaps wasn't spent. Still, I'd love to hear and understand more about this project and why CEA thinks it's cost-effective. What is the EV calculation behind it?

Like the New Yorker piece points out, with more funding there has been a lot of spending within the movement itself. And that's fine, great even. This way more outreach can be done and the movement can grow. But we don't want to be too self-serving, and I'm scared too much of this thinking will lead to rationalizing lavish expenses (and I'm afraid this is already happening). There needs to be more transparency behind big expenses.

Edit to add: If this expense has been made a while back, why not announce it then?

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Hey,

First I want to explain that I think it's misleading to think of this as a CEA decision (I've edited to be more explicit about this). To explain that I need to disambiguate between:

  1. CEA, the project that runs the EA Forum, EA Global, etc.
    • This is what I think ~everyone usually thinks of when they think of "CEA", as it's the group that's been making public use of that brand
  2. CEA, the former name of a legal entity which hosts lots of projects (including #1)
    • This is a legacy naming issue ... 
      • The name of the legal entity was originally intended as a background brand to house 80,000 Hours and Giving What We Can; other projects have been added since, especially in recent years
      • Since then the idea of "effective altruism" has become somewhat popular in its own right! And one of the projects within the entity started making good use of the name "CEA"
    • We’ve now renamed the legal entity to EVF, basically in order to avoid this kind of ambiguity!
       

Wytham Abbey was bought by #2, and isn’t directly related to #1, except for being housed within the same legal entity. I was the person who owned the early development of the project idea, and fundraised for it. (The funding comes from a grant specifically for this project, and is not FTX-related.) I brought it to the rest of the board of EVF to ask for fiscal sponsorship (i.e. I would direct the funding to EVF and EVF would buy the property and employ staff to work on the project). So EVF made two decisions here: they approved fiscal sponsorship, agreeing to take funds for this new project; and they then followed through and bought the property with the funds that had been earmarked for that. The second of these is technically a decision to buy the building (and was done by a legal entity at the time called CEA), but at that point it was fulfilling an obligation to the donor, so it would have been wild to decide anything else. The first is a real decision, but the decision was to offer sponsorship to a project that would likely otherwise have happened through another vehicle, not to use funds to buy a building rather than for another purpose. Neither of these decisions were made by any staff of the group people generally understand as "CEA". (All of this ambiguity/confusion is on us, not on readers.)

I’d also like to speak briefly to the “why” — i.e. why I thought this was a good idea. The central case was this: 

I’ve personally been very impressed by specialist conference centres. When I was doing my PhD, I think the best workshops I went to were at Oberwolfach, a mathematics research centre funded by the German government. Later I went to an extremely productive workshop on ethical issues in measuring the global burden of disease at the Brocher Foundation. Talking to other researchers, including in other fields, I don’t think my impression was an outlier. Having an immersive environment which was more about exploring new ideas than showing off results was just very good for intellectual progress. In theory this would be possible without specialist venues, but researchers want to spend time thinking about ideas not event logistics. Having a venue which makes itself available to experts hosting events avoids this issue.

In the last few years, I’ve been seeing the rise of what seems to me an extremely important cluster of ideas — around asking what’s most important to do in the world, and taking chains of reasoning from there seriously. I think this can lead to tentative answers like “effective altruism” or “averting existential risk”, but for open-minded intellectual exploration I think it’s better to have the focus on questions than answers. I thought it would be great if we could facilitate more intellectual work of this type, and the specialist-venue model was a promising one to try. We will experiment with a variety of event types. 

We had various calculations about costings, which made it look somewhere between “moderately money-saving” and “mildly money-spending” vs renting venues for events that would happen anyway, depending on various assumptions e.g. about usage that we couldn’t get great data on before running the experiment. The main case for the project was not a cost-saving one, but that if it was a success it could generate many more valuable workshops than would otherwise exist. Note that this is a much less expensive experiment than it may look on face value, since we retain the underlying asset of the building.

We wanted to be close to Oxford for easy access to the intellectual communities there. (Property prices weren’t falling off significantly with distance until travel time from Oxford and London had become significantly higher.) We looked at a lot of properties online, and visited the three properties we found for sale with 20+ bedrooms within about 50 minutes of Oxford. These were all "country houses", which are commonly repurposed as event venues in England. The other two were cheaper (one ~£6M and one ~£9M at the end of a competitive process; compared to a purchase price for Wytham of a bit under £15M) but needed significantly more work before they were usable, which would have added large expense (running into the millions) and delay (likely years). (And renovation expense isn’t obviously recoverable if one sells — it depends on how much the buyers want the same things from the property as you do.)

We thought Wytham had the most long-term potential as a venue because it had multiple large common rooms that could take >40 people. The other properties had one large room each holding perhaps a max of 40, but there would be pressure on this space since it would be wanted as both a dining space and for workshop sessions, and would also reduce flexibility of use for meetings (extra construction might have been able to address this, but it was a big question mark whether you could get planning consent). Wytham also benefited from being somewhat larger (about 27,000 sq ft vs roughly 20,000 sq ft for each of the other two) and a more accessible location. Overall we thought that a combination of factors made it the most appropriate choice.

I did feel a little nervous about the optical effects, but think it’s better to let decisions be guided less by what we think looks good, and more by what we think is good — ultimately this was a decision I felt happy to defend.

On why we hadn’t posted publicly about this before: I'm not a fan of trying to create hype. I thought the natural time to post about the project publicly would be when we were ready to accept public applications to run events, and it felt a bit gauche to post before that. Now that there's a public discussion, of course, it seemed worth explaining some of the thinking.

I hope this is helpful.

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This comment sounds qualitatively reasonable, but it needs a quantitative complement - it could have been made virtually verbatim had the cost been £1.5m or £150m. I would like to hear the case for why it was actually worth £15m.

Also, a lot of people are talking about 'optics', with the implication that the irrational public will misunderstand the +EV of such a decision. But 'bad optics' don't come from nowhere - they come from a very reasonable worry that over time, people who influence a lot of money have some risk of, if not becoming corrupt, at least getting carried away with that influence and rationalising away things like this. 

I think we should always take such possibilities seriously, not to imply anyone has actually done anything wildly irresponsible, but to insure against anyone doing so - and to keep grey areas as thin as possible. And I'm increasingly worried that CEA are seriously undertransparent in ways that suggest they don't think such risks could materialise - which increases my credence that they could. So while I could be convinced this was a reasonable use of funds, I think the decision not to 'hype' it builds a dangerous precedent. 

You can check how many events GPI, FHI, and CEA have run in Oxford, requiring renting hotels, etc., and the associated costs. I know that GPI runs at least a couple such events per year. Given that, I think that over the next 10-20 years, £15m isn't outside the realm of plausible direct costs saved, especially if it's available for other groups to rent in order to help cover costs.

That said, the cost-benefit analysis could be more transparent. On the other hand, I don't think that private donors should be required to justify their decisions, regardless of the vehicle used. But I do think that CEA is the wrong place for this to be done, given that they aren't even likely to be a key user of the space. (Edit: Owen's explanation, that this was done by the parent org of CEA, means I will withdraw the last claim.)

I accept that it's plausibly in the realm, but that's not very helpful for knowing whether it's actually worthwhile - plausibility is a very low bar.

the other hand, I don't think that private donors should be required to justify their decisions

This doesn't seem like a good blanket policy. If private donors can use a charity to buy large luxury goods, it raises worries about that charity becoming a tax haven, or a reward for favours, or any other number of such hard-to-predefine but questionable activities. There are legal implications around charities taking too much of their money from a single donor for exactly that reason.

I don't think we're there yet, but, per above, I would like to see more discussion from CEA of the risks associated with moving in that direction.

But I do think that CEA is the wrong place for this to be done, given that they aren't even likely to be a key user of the space.

Agree. I don't mind the idea of a sort of EA special projects orgs that has relatively high autonomy, but I don't want that org to also be the face of the community - as I understand it, that's basically how we ended up with FTXgate. We'd also probably want them to source funding from a wide range of sources to avoid the unilateralists' curse, which this situation is at least flirting with.

8
Davidmanheim
I think we mostly agree, but don't think this was unilateralists' curse, and it isn't even close. Many people were aware of or involved in discussions about this, and having multiple donors doesn't guarantee not falling into unilateralism.
2
Arepo
I agree on what we agree and disagree about :) Re unilateralism obviously more donors isn't anything like a guarantee, but is one of hopefully many safeguards. On the other hand, many people approving of it here (assuming they broadly did) doesn't mean it's not a form of unilateralism depending on how those people were included in the discussion - if, for eg, they were all major CEA funders and staff, there's likely to be extreme selection bias in their opinions on the relevant questions.

I'm telling you that, as someone who hasn't ever worked for or with CEA directly, I spoke with a couple people about this months before it happened. Clearly, plenty of people were aware, and discussed this - and I didn't know the price tag, but thought that a center for retreats focused on global priorities and related topics near Oxford sounded like a very good idea. I still think it is, and honestly don't think that it's unreasonable as a potential investment into priorities research. Of course, given the current post-FTX situation, it would obviously not have been considered if the project was being proposed today.

Can you say who funded the dedicated grant? 

I feel like this is pretty important. I think this is basically fine if it's a billionaire who thinks CEA needs real estate, and less fine if it is incestuous funding from another EA group.

I think the key question is whether the money would counterfactually have been available for another purpose.  OCB half-implies it wouldn't have been by saying that buying the property fulfiled an obligation to the donor, but then I'm confused by the claim "we retain the underlying asset".  If EVF holds the asset subject to an obligation only to use it as a specialist conference centre, it's unable to realise the value.  On the other hand, it would seem surprising if the donation was made on the condition that it must be used to buy the building, but then EVF could do whatever it liked with it (including immediately reselling it).

If EVF is in fact able to resell the building now, then the argument that it was an ear-marked donation is weak, because EVF is making a decision now to hold the asset rather than sell it to raise funds for other EA causes.

1
hamburga
I take the silence as a no :(

It was OpenPhil, see here.

-6
turchin

Owen - this sounds totally reasonable to me. 

Max Planck Institutes had a dedicated conference center in the Alps (Schloss Ringberg) that is hugely inspirational, and that promotes intensive collaboration, brain-storming, and discussion very effectively.

Likewise for the Center for Advanced Study in the Behavioral Sciences at Stanford -- the panoramic views over the San Francisco Bay, the ease of both formal and informal interaction, and the optimal degree of proximity to the main campus (near, but not too near), promote very good high-level thinking and exchange of ideas.

I've been to about 70 conferences in my academic career, and I'm noticed that the aesthetics, antiquity, and uniqueness of the venue can have a significant effect on the seriousness with which people take ideas and conversations, and the creativity of their thinking. And, of course, it's much easier to attract great talent and busy thinkers to attractive venues. Moreover, I suspect that meeting in a building constructed in 1480 might help promote long-termism and multi-century thinking.

It's hard to quantify the effects that an uplifting, distinctive, and beautiful venue can have on the quality and depth of intellectual and moral collaboration. But I think it's a real effect. And Wytham Abbey seems, IMHO, to be an excellent choice to capitalize on that effect.

The problem to me seems to be that "being hard to quantify" in this case very easily enables rationalizing spending money on fancy venues. I'm also not convinced that non-EA institutions spending money on fancy venues is a good argument for also doing so or an argument that fancy venues enable better research. These institutions probably just use fancy venues because it is self serving. As they don't usually promote doing the most good by being effective, I guess that nobody cares much that they do that.

Personally, I think that a certain level of comfort is helpful, e.g. having single / double rooms for everybody so they can sleep well or don't needing to cook etc. However, I'm very skeptical of anything above that being worth the money.

I don't want to be adversarial, but I just have to note how much your comment reads to me and other people I spoke to like motivated reasoning. I think it's very problematic if EA advocates for cost effectiveness on the one hand and then lightly spends a lot of money on fancy stuff which seems self serving.

Agreed. The whole founding insight of the EA movement was the importance of rigorously measuring value for money. The same logic is used to justify every warm and fuzzy but low value charity. And it's entirely reasonable to be very worried when major figures in the EA movement revert to that kind of reasoning when it's in their self interest.

9
RobertJones
Yes.  It seems very plausible that conferences are good and also that conferences in attractive venues are better, but it seems surprising that this would be the most effective use of the money.

First of all - I'm really glad you wrote this comment. This is exactly the kind of transparency I want to see from EA orgs.

On the other hand, I want to push back against your now last paragraph (on why you didn't write about this before). I strongly think that it's wrong to wait for criticism before you explain big and important decisions (like spending 15 million pounds on a castle). The fact that criticism arose here is basically random, and is a result of outside critics looking in. In a better state of affairs, you want the EA community to know about the things they need to look at and maybe criticise. Otherwise there's a big chance they'll miss things.

In other words, I think it's very important that major EA orgs proactively share the information and reasoning about big decisions.

This sort of comment sounds good in the abstract, but what specific process would you propose that you think would actually achieve this? CEA has to post all project proposals over a certain amount to the EA forum? Are people actually going to read them? What if they only appeal to specific funders? How much of a tax on the time of CEA staff are we willing to pay in order to get this additional transparency?

Personally, I think something like a quarterly report on incoming funds and outgoing expenses, ongoing projects and cost breakdowns, and expected and achieved outcomes would work very well. This is something I'd expect of any chariry or NGO that values effectiveness and empirical backing, and particularly from one that places it at the center of its mission statement, so I struggle to think of it as a "tax" on the time of CEA workers rather than something that should be an accepted and factored in cost of doing business.

The grandparent comment asks for decisions to be explained before criticism appears. Your proposal (which I do think is fairly reasonable) would not have helped in this case: Wytham Abbey would have got a nice explanation in the next quarterly report after it got done, i.e. far too late.

You would instead require ongoing, very proactive transparency on a per-decision basis in order to really pre-empt criticism.

I struggle to think of it as a "tax" on the time of CEA workers rather than something that should be an accepted and factored in cost of doing business.

I put a negative framing on it and you put a positive one, but it's a cost that prevents staff from doing other things with their time and so should be prioritised and not just put onto an unbounded queue of "stuff that should be done".

The grandparent comment asks for decisions to be explained before criticism appears. Your proposal (which I do think is fairly reasonable) would not have helped in this case: Wytham Abbey would have got a nice explanation in the next quarterly report after it got done, i.e. far too late.

I think my broader frame around the issue affected how I read the parent comment. I took it as the problem being a general issue in EA transparency - my general thinking on a lot of the criticisms from within EA was something along the lines of the lack of transparency as a general issue is the larger problem, if EAs knew there would be a report/justification coming, it would not have been such an issue within the community. I do see your point now, although I do think there are some pretty easy ways around it, like determining a reasonably high bar on the basis of CEA's general spending-per-line-item that would necessitate a kind of "this is a big deal" announcement. 

I put a negative framing on it and you put a positive one, but it's a cost that prevents staff from doing other things with their time and so should be prioritised and not just put onto an unbounded queue of "stuff that should be

... (read more)
2
Michael_PJ
I think this is all pretty reasonable, but also I suspect I might think that existing similar organisations were doing too much of this kind of transparency activity.

CEA has to post all project proposals over a certain amount to the EA forum?

Yes, that sounds about it. Although I would add decisions that are not very expensive but are very influential.

What if they only appeal to specific funders?

What do you mean?

How much of a tax on the time of CEA staff are we willing to pay in order to get this additional transparency?

A significant amount. This is well worth it. Although in practice I don't imagine there are that many decisions of this calibre. I would guess about 2-10 per year?

A significant amount. This is well worth it.

That's pretty unclear to me. We are in the position of maximum hindsight bias. An unusual and bad event has happened, that's the classic point at which people overreact about precautions.

I've been writing the same calls for transparency for months. This has nothing to do with FTX.

8
RobBensinger
I disagree with this. The property may well increase in value over time, and be sold at a profit if EAs sell it. I don't think EAs should publicly discuss every investment they make at the $20M level (except insofar as public discussion is useful for all decisions), and if there's a potential direct altruistic benefit to the investment then that makes it less important to publicly debate, not more important. (Analogy: if a person deciding to invest $20 million in a for-profit startup with zero direct altruistic benefit requires no special oversight, then a person deciding to invest $20 million in a for-profit startup that also has potential altruistic benefits suggests even less use for oversight, since we've now added a potentially nice and useful feature to an action that was already fine and acceptable beforehand. Altruistic side-effects shouldn't increase the suspiciousness of an action that already makes sense on its own terms.) See also Oliver's point, "Purchase price - resale price will probably end up in the $1-$3MM range."

I'm not sure about this particular  case, but I don't think the value of the property increasing over time is a generally good argument for why investments need not be publicly discussed. A lot of potential altruistic spending has benefits that accrue over time, where the benefits of money spent earlier outweighs the benefits of money spent later - as has been discussed extensively when comparing giving now vs. giving later.

The whole premise of EA is that resources should be spent in effective ways, and potential altruistic benefits is no excuse for an ineffective spending of money.

4
Guy Raveh
1. Would you still disagree if this were an outright 15M£ expense? 2. This is a very risky investment. I don't know what Oliver's point is based on, but I saw another (equally baseless) opinion online that since they bought it right before a market crash, chances are they've already lost millions. I'd probably not feel the same way about some diverse investment portfolio, but millions in a single real estate investment? This does require significant oversight. 3. Re: your analogy - I both disagree with the claim and with the fact that this is analogous. CEA is not like a person and should not be treated as one; they're an organisation purporting to represent the entire movement. And when people do something that they hope have a big impact, if it's important to them that it's positive, broad oversight is much more important than if it was an investment with no chance of a big impact.

Would you still disagree if this were an outright 15M£ expense?

E.g., if EAs overpaid 30M£ for a property that resells at 15M£? I'd be a bit surprised they couldn't get a better deal, but I wouldn't feel concerned without knowing more details.

Seems to me that EA tends to underspend on this category of thing far more than they overspend, so I'd expect much more directional bias toward risk aversion than risk-seeking, toward naive virtue signaling over wealth signaling, toward Charity-Navigator-ish overhead-minimizing over inflated salaries, etc. And I naively expect EVF to err in this direction more than a lot of EAs, to over-scrutinize this kind of decision, etc. I would need more information than just "they cared enough about a single property with unusual features to overpay by 15M£" to update much from that prior.

We also have far more money right now than we know how to efficiently spend on lowering the probability that the world is destroyed. We shouldn't waste that money in large quantities, since efficient ways to use it may open up in the future; but I'd again expect EA to be drastically under-spending on weird-looking ways to use money to un-bottleneck us, as opposed to EA b... (read more)

1
nikos
I'm confused why you wouldn't feel concerned about EA potentially wasting 15M pounds (talking about your hypothetical example, not the real purchase). I feel that would mean that EA is not living up to its own standards of using evidence and reasoning to help others in the best possible way. 

Since EA isn't optimizing the goal "flip houses to make a profit", I expect us to often be willing to pay more for properties than we'd expect to sell them for. Paying 2x is surprising, but it doesn't shock me if that sort of thing is worth it for some reason I'm not currently tracking.

MIRI recently spent a year scouring tens of thousands of properties in the US, trying to find a single one that met conditions like "has enough room to fit a few dozen people", "it's legal to modify the buildings or construct a new one on the land if we want to", and "near but not within an urban center". We ultimately failed to find a single property that we were happy with, and gave up.

Things might be easier outside the US, but the whole experience updated me a lot about how hard it is to find properties that are both big and flexible / likely to satisfy more than 2-3 criteria at once.

At a high level, seems to me like EA has spent a lot more than 15M£ on bets that are vastly more uncertain and dependent-on-contested-models than "will we want space to house researchers or host meetings?". Whether discussion and colocation is useful is one of the only things I expect EAs to not disagree about; most other categories of activity depend on much more complicated stories, and are heavily about placing bets on more specific models of how the future is likely to go, what object-level actions to prioritize over other actions, etc.

Can we all just agree that if you’re gonna make some funding decision with horrendous optics, you should be expected to justify the decision with actual numbers and plans?

Would be nice if we actually knew how many conferences/retreats were going to be held at the EA castle.

It might be justifiable (I got a tremendous amount of value being in Berkeley and London offices for 2 month stints), but now we’re here talking about it, and it obviously looks bad to anyone skeptical about EA. Some will take it badly regardless, but come on. Even if other movements/institutions way overspend on bad stuff, let’s not use that as an excuse in EA.

The “EA will justify any purchase for the good of humanity” argument will just continue to pop up. I know many EAs who are aware of this and constantly concerned about overspending and rationalizing a purchase. As much as critics act like this is never a consideration and EAs are just naively self-rationalizing any purchase, it’s certainly not the case for most EAs I’ve met. It’s just that an EA castle with very little communication is easy ammo for critics when it comes to rationalizing purchases.

One failed/bad project is mostly bad for the people involved, but reputational risk is bad for the entire movement. We should not take this lightly.

9
vaniver
Justify to who? I would like to have an EA that has some individual initiative, where people can make decisions using their resources to try to seek good outcomes. I agree that when actions have negative externalities, external checks would help. But it's not obvious to me that those external checks weren't passed in this case*, and if you want to propose a specific standard we should try to figure out whether or not that standard would actually help with optics. Like, if the purchase of Wytham Abbey had been posted on the EA forum, and some people had said it was a good idea and some people said it was a bad idea, and then the funders went ahead and bought it, would our optics situation look any different now? Is the idea that if anyone posted that it was a bad idea, they shouldn't have bought it? [And we need to then investigate whether or not adding this friction to the process ends up harming it on net; property sales are different in lots of places, but there are some where adding a week to the "should we do this?" decision-making process means implicitly choosing not to buy any reasonably-priced property, since inventory moves too quickly, and only overpriced property stays on the market for more than a week.]   * I don't remember being consulted about Wytham, but I'm friends with the people running it and broadly trust their judgment, and guess that they checked with people as to whether or not they thought it was a good idea. I wasn't consulted about the specific place Irena ended up buying, but I was consulted somewhat on whether or not Irena should buy a venue, and I thought she should, going so far as being willing to support it with some of my charitable giving, which ended up not being necessary.

Thanks for sharing your detailed thought process Owen, and I definitely appreciate the penultimate paragraph. 

5
Owen Cotton-Barratt
(I edited in a way which changed which paragraph was penultimate. I believe Larks was referring to the content which is now expanded on in paragraphs starting "We wanted ..." and "We thought ...".)

Sounds like a reasonable decision to me, but I do wonder why the reasoning behind such large and not immediately obvious decisions isn't communicated publicly more often.

let decisions be guided less by what we think looks good, and more by what we think is good

Totally agree, as long as you give people the opportunity to figure out why you think it's good.

Anyway, thanks for clarifying!

In general I would agree that it's better to do what is good rather than what looks good. However, when you are the face of a global movement, optics have a meaningful financial implication. Imagine if this bad press made 1 billionaire 0.1% less likely to get involved with EA. That calculation would dominate any potential efficiency savings from insourcing a service provider.

I used to think this and I increasingly don't. Doing good thing is what we're all about. Doing good things even if it looks bad in the tabloid press is good publicity to the people who actually care about doing good, and they're more important to us than the rest.

I think an EA that was weirder and more unapologetic about doing its stuff attracts more of the right kind of people and can generally get on with things more than an EA that frantically tries to massage it's optics to appeal to everyone.

9
Devon Fritz 🔸
I am having a hard time here and speckled throughout the rest of this post with people writing that we are doing the "good thing" and we should do that and not just what looks good with the "good thing" in question being buying a castle and not say, caring about wild animal suffering.