Based on my read on the level of familiarity of governance within EA, I wouldn’t blame FTX Foundation team too much on not being able to see further and not placing importance on the vulnerability of donors failing to deliver their commitments.
Did anyone at the FTX Foundation or Future Fund, or others in advisory roles, press for this? A side benefit might’ve also been uncovering the fraud earlier and perhaps mitigating it somewhat.
Fraud (as I have discussed in previous posts) is built to deceive, if no controls for detection were installed, one will not be able to like develop an investigative urge and start looking for unusual activities...
Based on my read on the level of familiarity of governance within EA, I wouldn’t blame FTX Foundation team too much on not being able to see further and not placing importance on the vulnerability of donors failing to deliver their commitments.
Fraud (as I have discussed in previous posts) is built to deceive, if no controls for detection were installed, one will not be able to like develop an investigative urge and start looking for unusual activities...