Okay, unfortunately the EA Forum DM functionality is also broken for me, atm. Could you post a reply with an anonymous email address for me to email the letter to? I’ll email from austin@manifund.org.
Separately, you seem to think the $500k figure is particularly important. Does that mean that, even if we reached a settlement with the FTX estate to return some lower amount, you believe that we ought to return $500k anyways? This is how I interpret your original post, but this seems somewhat unintuitive to me and I’d appreciate you explaining more.
Yes, I think that money should be returned beyond the amount that you would settle upon. As I wrote in the post:
it is only through quirks of the legal process that EA and rationalist orgs have been able to keep so much of the money.
In most cases, the outcomes of that legal process seem acceptable, but not in this case of Manifold:
The point is, what’s fair for Lightcone and other orgs is not what’s fair for you. The bar is higher for you now, if you want to pay Caroline even one dollar.
Basically, I believe that there is a legal debt and a functional debt. The legal debt, by definition, is whatever settlement competent lawyers arrive at. The functional debt is generally greater. For most EA orgs, it would feel fine to write off the functional debt in exchange for some gratitude toward the system and some soberness around the facts and lessons of FTX. But in your case, it would be best for you to settle the difference, lest you end up paying Caroline with what is functionally FTX money.
So for example, if Manifold/Manifund were to return $200k of the $500 through a legal settlement, then it would make sense to pay an extra $300k voluntarily if you want to employ Caroline (and retroactively, Nishad). This would resolve the conflict of interest, in my mind.
(I do see Nishad named in one of the FTX estate’s filings, and perhaps they will also press the issue of Caroline when they find out. This may move the needle towards a fuller recovery, but still seems unlikely to hit the full $500k, and I think you should make up the functional difference.)
Mechanically, I do not know whether your eventual settlement will itemize the breakdown of the $508k separately from the $1m, but you get the general idea.
Separately, there are other mechanical steps I do not understand here, e.g. when you write
I am mostly considering whether I should make a large personal donation to Manifund to help resolve the lawsuit.
that seems like it’s the first of two steps. First, your money goes into Manifund, and second, the money somehow goes from Manifund to the FTX estate. I do see that Manifund has been added as a defendant alongside Manifold. But are you imagining that this money gets held in some designated account at Manifund until the case is settled and you have clearer instructions on payment?
There are other technical points that are not clear to me, but I’m sure there’s a way for these details to all make sense.
Okay, unfortunately the EA Forum DM functionality is also broken for me, atm. Could you post a reply with an anonymous email address for me to email the letter to? I’ll email from austin@manifund.org.
Separately, you seem to think the $500k figure is particularly important. Does that mean that, even if we reached a settlement with the FTX estate to return some lower amount, you believe that we ought to return $500k anyways? This is how I interpret your original post, but this seems somewhat unintuitive to me and I’d appreciate you explaining more.
I will be in touch with you.
Yes, I think that money should be returned beyond the amount that you would settle upon. As I wrote in the post:
In most cases, the outcomes of that legal process seem acceptable, but not in this case of Manifold:
Basically, I believe that there is a legal debt and a functional debt. The legal debt, by definition, is whatever settlement competent lawyers arrive at. The functional debt is generally greater. For most EA orgs, it would feel fine to write off the functional debt in exchange for some gratitude toward the system and some soberness around the facts and lessons of FTX. But in your case, it would be best for you to settle the difference, lest you end up paying Caroline with what is functionally FTX money.
So for example, if Manifold/Manifund were to return $200k of the $500 through a legal settlement, then it would make sense to pay an extra $300k voluntarily if you want to employ Caroline (and retroactively, Nishad). This would resolve the conflict of interest, in my mind.
(I do see Nishad named in one of the FTX estate’s filings, and perhaps they will also press the issue of Caroline when they find out. This may move the needle towards a fuller recovery, but still seems unlikely to hit the full $500k, and I think you should make up the functional difference.)
Mechanically, I do not know whether your eventual settlement will itemize the breakdown of the $508k separately from the $1m, but you get the general idea.
Separately, there are other mechanical steps I do not understand here, e.g. when you write
that seems like it’s the first of two steps. First, your money goes into Manifund, and second, the money somehow goes from Manifund to the FTX estate. I do see that Manifund has been added as a defendant alongside Manifold. But are you imagining that this money gets held in some designated account at Manifund until the case is settled and you have clearer instructions on payment?
There are other technical points that are not clear to me, but I’m sure there’s a way for these details to all make sense.