I don’t see why Effective Altruism is responsible for not detecting fraud at a company before the market writ large did. If those warnings had been so clear and obvious, I would have suggested you invest in FTX’s competitors and bring their malfeasance to light. Otherwise, it is carping after the fact.
Just to clarify, I agree that EA should not have been expected to detect or predict FTX’s fraud, and explicitly stated that[1]. The point of my post is that other mistakes were likely made, we should be trying to learn from those mistakes, and there are worrisome indications that EA leadership is not interested in that learning process and may actually be inhibiting it.
I don’t think ‘responsible’ is the right word, but the consequences to the effective altruism project of not catching on earlier were enormous, far larger than to other economic actors exposed to FTX. And I do think we ought to have realized how unusual our situation was with respect to FTX.
I don’t see why Effective Altruism is responsible for not detecting fraud at a company before the market writ large did. If those warnings had been so clear and obvious, I would have suggested you invest in FTX’s competitors and bring their malfeasance to light. Otherwise, it is carping after the fact.
Just to clarify, I agree that EA should not have been expected to detect or predict FTX’s fraud, and explicitly stated that[1]. The point of my post is that other mistakes were likely made, we should be trying to learn from those mistakes, and there are worrisome indications that EA leadership is not interested in that learning process and may actually be inhibiting it.
“I believe it is incredibly unlikely that anyone in EA leadership was aware of, or should have anticipated, FTX’s massive fraud.”
I don’t think ‘responsible’ is the right word, but the consequences to the effective altruism project of not catching on earlier were enormous, far larger than to other economic actors exposed to FTX. And I do think we ought to have realized how unusual our situation was with respect to FTX.