Maybe (albeit in a slightly different way) SBF did this, in that he founded a company, made billions of dollars, and pledged it to EA causes—to me that looks like the same outcome, but with the advantage of not having to buy an established company at market value.
SBF ran an excellent company and made billions by running a normal company. He did not use the fact that he would use the money he earned to donate to charities to gain an advantage with consumers. What would make FTX a Guiding Company is if he had donated his equity ownership to a charitable trust and advertised this to users of his product as a basis to choose FTX over competitors.
FTX and SBF do not resemble Guided Consumption because they do not use consumer sentiment to gain an advantage.
FTX does sometimes advertise their foundation but they are not a GC of course. I hold my crypto on FTX because I know it will end up in their foundation or on SBF’s bank account and he’ll do great things with it. I think more people would switch to FTX if they went GC or advertised their charitable work more broadly.
It’s great that people like SBF are humble, but his purpose is worth bragging about and it might accelerate the causes he cares about.
How does this differ from eg FTX?
Maybe (albeit in a slightly different way) SBF did this, in that he founded a company, made billions of dollars, and pledged it to EA causes—to me that looks like the same outcome, but with the advantage of not having to buy an established company at market value.
SBF ran an excellent company and made billions by running a normal company. He did not use the fact that he would use the money he earned to donate to charities to gain an advantage with consumers. What would make FTX a Guiding Company is if he had donated his equity ownership to a charitable trust and advertised this to users of his product as a basis to choose FTX over competitors.
FTX and SBF do not resemble Guided Consumption because they do not use consumer sentiment to gain an advantage.
FTX does sometimes advertise their foundation but they are not a GC of course. I hold my crypto on FTX because I know it will end up in their foundation or on SBF’s bank account and he’ll do great things with it. I think more people would switch to FTX if they went GC or advertised their charitable work more broadly.
It’s great that people like SBF are humble, but his purpose is worth bragging about and it might accelerate the causes he cares about.