Hi Misha — with this post I was simply trying to clarify that I understood and agreed with critics on the basic considerations here, in the face of some understandable confusion about my views (and those of 80,000 Hours).
So saying novel things to avoid being ‘nonsubstantial’ was not the goal.
As for the conclusion being “plausibly quite wrong” — I agree that a plausible case can be made for both the certain $1 billion or the uncertain $15 billion, depending on your empirical beliefs. I don’t consider the issue settled, the points you’re making are interesting, and I’d be keen to read more if you felt like writing them up in more detail.[1]
The question is sufficiently complicated that it would require concentrated analysis by multiple people over an extended period to do it full justice, which I’m not in a position to do.
That work is most naturally done by philanthropic program managers for major donors rather than 80,000 Hours.
I considered adding in some extra math regarding log returns and what that would imply in different scenarios, but opted not to because i) it would take too long to polish, ii) it would probably confuse some readers, iii) it could lead to too much weight being given to a highly simplified model that deviates from reality in important ways. So I just kept it simple.
I’d just note that maintaining a controlling stake in TSMC would tie up >$200 billion. IIRC that’s on the order of 100x as much as has been spent on targeted AI alignment work so far. For that to be roughly as cost-effective as present marginal spending on AI or other existential risks, it would have to be very valuable indeed (or you’d have to think current marginal spending was of very poor value).
Hi Misha — with this post I was simply trying to clarify that I understood and agreed with critics on the basic considerations here, in the face of some understandable confusion about my views (and those of 80,000 Hours).
So saying novel things to avoid being ‘nonsubstantial’ was not the goal.
As for the conclusion being “plausibly quite wrong” — I agree that a plausible case can be made for both the certain $1 billion or the uncertain $15 billion, depending on your empirical beliefs. I don’t consider the issue settled, the points you’re making are interesting, and I’d be keen to read more if you felt like writing them up in more detail.[1]
The question is sufficiently complicated that it would require concentrated analysis by multiple people over an extended period to do it full justice, which I’m not in a position to do.
That work is most naturally done by philanthropic program managers for major donors rather than 80,000 Hours.
I considered adding in some extra math regarding log returns and what that would imply in different scenarios, but opted not to because i) it would take too long to polish, ii) it would probably confuse some readers, iii) it could lead to too much weight being given to a highly simplified model that deviates from reality in important ways. So I just kept it simple.
I’d just note that maintaining a controlling stake in TSMC would tie up >$200 billion. IIRC that’s on the order of 100x as much as has been spent on targeted AI alignment work so far. For that to be roughly as cost-effective as present marginal spending on AI or other existential risks, it would have to be very valuable indeed (or you’d have to think current marginal spending was of very poor value).