The history of big foundations shows clearly that, after the founder’s death, they revert to the mean and give money mostly to whatever is popular and trendy among clerks and administrators, rather than anything unusual which the donor might’ve cared about. If you look at the money flowing out of e.g. the Ford Foundation, you’ll be hard-pressed to find anything which is there because Henry or Edsel Ford thought it was important, rather than because it’s popular among the NGO class who staffs the foundation. See Henry Ford II’s resignation letter.
If you want to accomplish anything more specific than “fund generic charities”—as anyone who accepts the basic tenets of EA obviously should—then creating a perpetual foundation is unwise.
The history of big foundations shows clearly that, after the founder’s death, they revert to the mean and give money mostly to whatever is popular and trendy among clerks and administrators, rather than anything unusual which the donor might’ve cared about. If you look at the money flowing out of e.g. the Ford Foundation, you’ll be hard-pressed to find anything which is there because Henry or Edsel Ford thought it was important, rather than because it’s popular among the NGO class who staffs the foundation. See Henry Ford II’s resignation letter.
If you want to accomplish anything more specific than “fund generic charities”—as anyone who accepts the basic tenets of EA obviously should—then creating a perpetual foundation is unwise.
Thanks, interesting letter/link!