Woah...if 40% of wealth were wiped out, that would have no impact on investment? I think we have different assumptions about the elasticity between wealth and donations (my prior is that it’s fairly elastic).
This Open Phil blog post is interesting in this context. (Though note in this case the underlying wealth change was, I believe, not driven by crypto and instead mostly by the bear market for tech stocks.)
This Open Phil blog post is interesting in this context. (Though note in this case the underlying wealth change was, I believe, not driven by crypto and instead mostly by the bear market for tech stocks.)