Our crux is likely around how much research a lottery winner would need to conduct to outperform an EA Funds manager.
I’m very skeptical that a randomly selected EA can find higher impact grant opportunities than an EA Funds manager in an efficient way. I’d find it quite surprising (and a significant indictment of the EA Funds model) if a random EA can outperform a Fund manager (specifically selected for their competence in this area) after putting in a dedicated week of research (say 40 hours). I’d find that a lot more plausible if a lottery winner put in much more time, say a few dedicated months. But then you’re looking at something like 500 hours of dedicated EA time, and you need a huge increase in expected impact over EA Funds to justify that investment for a grant that’s probably in the $100-200k range.
I do agree that a lottery winner can always choose to give through EA Funds which creates some option value, but I worry about a) winners overestimating the own grantmaking capabilities; b) the time investment of comparing EA Funds to other options; and c) the lack of evidence that any lottery winners are actually deferring to EA Funds (maybe just an artefact of not knowing where lottery winners have given since 2019).
Our crux is likely around how much research a lottery winner would need to conduct to outperform an EA Funds manager.
I’m very skeptical that a randomly selected EA can find higher impact grant opportunities than an EA Funds manager in an efficient way. I’d find it quite surprising (and a significant indictment of the EA Funds model) if a random EA can outperform a Fund manager (specifically selected for their competence in this area) after putting in a dedicated week of research (say 40 hours). I’d find that a lot more plausible if a lottery winner put in much more time, say a few dedicated months. But then you’re looking at something like 500 hours of dedicated EA time, and you need a huge increase in expected impact over EA Funds to justify that investment for a grant that’s probably in the $100-200k range.
I do agree that a lottery winner can always choose to give through EA Funds which creates some option value, but I worry about a) winners overestimating the own grantmaking capabilities; b) the time investment of comparing EA Funds to other options; and c) the lack of evidence that any lottery winners are actually deferring to EA Funds (maybe just an artefact of not knowing where lottery winners have given since 2019).