Open Phil has enough money for at least a decade of longtermist spending at current rates; the fact that they aren’t spending all their money right now means that they think that there will be grant opportunities in the future that are better than grant opportunities that they choose not to make now.
This doesn’t match my model of philanthropic portfolio investment management. One key problem is that there is a lot of value in ongoing funding of organizations and projects, and having a donor who can fund you for a decade is easily >20x as valuable as one who will fund a bunch of work all at once, then disappear—and giving an organization a decade worth of funding all at once is far less useful than monitoring and calibrating to the organization’s success and needs.
This doesn’t match my model of philanthropic portfolio investment management. One key problem is that there is a lot of value in ongoing funding of organizations and projects, and having a donor who can fund you for a decade is easily >20x as valuable as one who will fund a bunch of work all at once, then disappear—and giving an organization a decade worth of funding all at once is far less useful than monitoring and calibrating to the organization’s success and needs.