CEA’s spending in 2023 is substantially lower than in 2022: down by $4.8 − 5.8 million.
The graph below shows our budget as it stood early in the year, reflecting our pre-FTX plans, and compares that to how our plans and spending have evolved as we’ve adapted to the new funding environment. This has happened during an Interim period in which we’ve tried where possible not to make hard-to-reverse changes that constrain the options of a new CEO.
We currently have the same number of Core staff that we did at the end of 2022 (37), but staff costs are a relatively small proportion of our overall spending (around 20% in 2023).
In contrast, the costs of the Online team responsible for the Forum are much more staff-heavy, and we don’t have plans to replace several people who left the team this year. We did recently hire one new person to work on Forum content.
It’s also worth noting that we postponed as much hiring as we could during our ongoing Interim period, so we expect our total number of staff to increase in 2024 relative to today’s benchmark. We expect that increasing staff costs as a proportion of our spending will increase the quality and cost-effectiveness of our programs.
In 2021, we spent $6.9m and ended the year with 29 staff. This is not an apples-to-apples comparison, because those staff include five members of what was then the CEA ops team, and is now the EV Ops team, so the more direct comparison is with 24 staff at that time.
You can see on our dashboard some of the ways our programs have changed since 2021 (three in-person EAG events compared to one, nine EAGx events compared to zero, etc).
CEA’s spending in 2023 is substantially lower than in 2022: down by $4.8 − 5.8 million.
The graph below shows our budget as it stood early in the year, reflecting our pre-FTX plans, and compares that to how our plans and spending have evolved as we’ve adapted to the new funding environment. This has happened during an Interim period in which we’ve tried where possible not to make hard-to-reverse changes that constrain the options of a new CEO.
We currently have the same number of Core staff that we did at the end of 2022 (37), but staff costs are a relatively small proportion of our overall spending (around 20% in 2023).
For example, we spend a lot on events, and have cut a lot of event spending, but largely by reducing passthrough costs rather than by firing people from what is already a small team relative to the scale of its activities.
In contrast, the costs of the Online team responsible for the Forum are much more staff-heavy, and we don’t have plans to replace several people who left the team this year. We did recently hire one new person to work on Forum content.
It’s also worth noting that we postponed as much hiring as we could during our ongoing Interim period, so we expect our total number of staff to increase in 2024 relative to today’s benchmark. We expect that increasing staff costs as a proportion of our spending will increase the quality and cost-effectiveness of our programs.
Nice, do you have your costs and staff numbers for 2021?
In 2021, we spent $6.9m and ended the year with 29 staff. This is not an apples-to-apples comparison, because those staff include five members of what was then the CEA ops team, and is now the EV Ops team, so the more direct comparison is with 24 staff at that time.
You can see on our dashboard some of the ways our programs have changed since 2021 (three in-person EAG events compared to one, nine EAGx events compared to zero, etc).