Ah, gotcha. If I understand correctly you’re arguing for more of a “wisdom of the crowds” analogy? Many donors is better than a few donors.
If so, I agree with that, but think the major disanalogy is that the big donors are professionals, with more time experience and context, while small donors are not—big donors are more like hedge funds, small donors are more like retail investors in the efficient market analogy
Ah, gotcha. If I understand correctly you’re arguing for more of a “wisdom of the crowds” analogy? Many donors is better than a few donors.
If so, I agree with that, but think the major disanalogy is that the big donors are professionals, with more time experience and context, while small donors are not—big donors are more like hedge funds, small donors are more like retail investors in the efficient market analogy