Thanks for the comment, Zach! Jason suggested something similar to Greg:
As much as I may appreciate a good wager, I would feel remiss not to ask if you could get a better result for amount of home equity at risk by getting a HELOC and having a bank be the counterparty? Maybe not at lower dollar amounts due to fixed costs/āfees, but likely so nearer the $250K point [Greg was willing to bet up to this] -- especially with the expectation that interest rates will go down later in the year.
I donāt have a stable income so I canāt get bank loans (I have tried to get a mortgage for the property before and failedāthey donāt care if you have millions in assets, all they care about is your income[1], and I just have a relatively small, irregular rental income (Airbnb). But I can get crypto-backed smart contract loans, and do have one out already on Aave, which I could extend.).
Also, the signalling value of the wager is pretty important too imo. I want people to put their money where their mouth is if they are so sure that AI x-risk isnāt a near term problem. And I want to put my money where my mouth is too, to show how serious I am about this.
@OscarD and @calebp, I am just tagging you to let you know you are right that a major motivation for Greg is signalling his concern for AI risk (see quote just above).
Yes, this. The major motivation is signalling, or āputting my money where my mouth isā. But also, the loans available to me (e.g. Aave) might not have that much better interest rates over the timescale.
Thanks for the comment, Zach! Jason suggested something similar to Greg:
Greg replied the following on April 17:
@OscarD and @calebp, I am just tagging you to let you know you are right that a major motivation for Greg is signalling his concern for AI risk (see quote just above).
Yes, this. The major motivation is signalling, or āputting my money where my mouth isā. But also, the loans available to me (e.g. Aave) might not have that much better interest rates over the timescale.