it is objectively nuts to put a 24-year-old with no experience in charge of a $50B hedge fund
That would indeed be nuts, but I think thatâs also clearly not what happened. My understanding is that he founded the fund himself, and he initially raised $100-200 million from a bunch of non-EA investors. See https://ââwww.forourposterity.com/ââ
Thanks to their spectacular returns they had a lot more assets under management, but my sense is that this is from normal investors who buy into the âAI is going to be bigâ thesis and were trying to make a profit.
I also found this article interesting, as well as the fact that Bloom Energy, IREN, Nebius, SanDisk, Micron, CoreWeave, and so on are up 10% to 30% since Wednesday
I donât think the difference between $100m and $50B is that substantial for my point. Even though they are two orders of magnitude apart, I think the limit on how much money you should trust with someone who has no prior experience managing money is lower than that.
They seem to have made a lot of money by investing in his fund, even after this week, so I find it hard to criticize them for it
Aschenbrenner didnât launch the fund alone, his cofounder Carl Shulman had previous experience managing money
We donât know the rest of their portfolio and how situational awareness fits into that (e.g. maybe itâs partially a small hedge against AI making Stripe worthless, or who knows)
That would indeed be nuts, but I think thatâs also clearly not what happened. My understanding is that he founded the fund himself, and he initially raised $100-200 million from a bunch of non-EA investors. See https://ââwww.forourposterity.com/ââ
Thanks to their spectacular returns they had a lot more assets under management, but my sense is that this is from normal investors who buy into the âAI is going to be bigâ thesis and were trying to make a profit.
I also found this article interesting, as well as the fact that Bloom Energy, IREN, Nebius, SanDisk, Micron, CoreWeave, and so on are up 10% to 30% since Wednesday
I donât think the difference between $100m and $50B is that substantial for my point. Even though they are two orders of magnitude apart, I think the limit on how much money you should trust with someone who has no prior experience managing money is lower than that.
They seem to have made a lot of money by investing in his fund, even after this week, so I find it hard to criticize them for it
Aschenbrenner didnât launch the fund alone, his cofounder Carl Shulman had previous experience managing money
We donât know the rest of their portfolio and how situational awareness fits into that (e.g. maybe itâs partially a small hedge against AI making Stripe worthless, or who knows)