Thank you for writing this comprehensive and candid post. As the ED/CEO of GWWC during this period, I deeply appreciate the transparency about both the challenges faced for us all during that period and reforms implemented. Some of the decisions, like the restrictive communications policy, were undoubtedly difficult and had real costs for the community, but I believe you and the team navigated an incredibly complex situation with integrity, putting in place important governance improvements while managing serious (and often unknown or unclear) legal risks.
I’m particularly grateful for the clear explanation of the trade-offs involved in various decisions. The section on crisis preparation really resonated with my experience—it’s so much harder and more expensive to implement reforms during a crisis than to build robust systems proactively. The lessons around valuing operational experience, investing in capacity early, and carefully considering organisational risk profiles are especially valuable for other EA organisations.
While the FTX situation created immense challenges, I believe there’s a silver lining in how it led to governance improvements across the ecosystem. The EV team’s support during the spin-out process helped organisations like GWWC establish robust governance frameworks and operational systems from day one. Thanks to their guidance and the lessons captured here, I expect many of the spin-out organisations to emerge as particularly well-governed and resilient institutions.
I particularly want to acknowledge the immense effort of everyone who worked to reform EV during this period—both the visible leadership and the many staff members who put in long hours behind the scenes. This kind of operational and governance work isn’t always celebrated in EA, but it’s essential for building trustworthy institutions that can effectively pursue our shared goals.
Thank you for writing this comprehensive and candid post. As the ED/CEO of GWWC during this period, I deeply appreciate the transparency about both the challenges faced for us all during that period and reforms implemented. Some of the decisions, like the restrictive communications policy, were undoubtedly difficult and had real costs for the community, but I believe you and the team navigated an incredibly complex situation with integrity, putting in place important governance improvements while managing serious (and often unknown or unclear) legal risks.
I’m particularly grateful for the clear explanation of the trade-offs involved in various decisions. The section on crisis preparation really resonated with my experience—it’s so much harder and more expensive to implement reforms during a crisis than to build robust systems proactively. The lessons around valuing operational experience, investing in capacity early, and carefully considering organisational risk profiles are especially valuable for other EA organisations.
While the FTX situation created immense challenges, I believe there’s a silver lining in how it led to governance improvements across the ecosystem. The EV team’s support during the spin-out process helped organisations like GWWC establish robust governance frameworks and operational systems from day one. Thanks to their guidance and the lessons captured here, I expect many of the spin-out organisations to emerge as particularly well-governed and resilient institutions.
I particularly want to acknowledge the immense effort of everyone who worked to reform EV during this period—both the visible leadership and the many staff members who put in long hours behind the scenes. This kind of operational and governance work isn’t always celebrated in EA, but it’s essential for building trustworthy institutions that can effectively pursue our shared goals.