So EA is currently in a regime wherein the large majority of capital flows from a single source, and capital allocation is set by a small number of decision-makers.
Rough estimate: if ~60% of Open Phil grantmaking decisioning is attributable to Holden, then 47.2% of all EA capital allocation, or $157.4M, was decided by one individual in 2017. 2018 & 2019 will probably have similar proportions.
It seems like EA entered into this regime largely due to historically contingent reasons (Cari & Dustin developing a close relationship with Holden, then outsourcing a lot of their philanthropic decision-making to him & the Open Phil staff).
It’s not clear that this structure will lead to optimal capital allocation...
I wrote in this direction a few years ago, and I’m very glad to see you clearly stating these points here.
From What’s the best structure for optimal allocation of EA capital? –