A “normie” board would have at least put Will and Nick on a leave of absence. Putting people on a leave of absence when something happens that significantly affects the community’s trust and it is not possible to presently address that concern due to legal/other reasons is standard operating procedure for most larger organizations. It does not imply misconduct or maladministration by those who are placed on leave.
Or maybe not. Part of the problem is that the board was too small already, and I assume it was poorly positioned to sideline 2 of the 5 members while dealing with the reputational and other upheavels caused by FTX crisis, the (now-realized) possibility of Charity Commission involvement, and the management of massive clawback litigation.
It appears Will and Nick have recused themselves from FTX decision-making, so they’re probably de facto on a leave of absence anyway. If true, I furthermore think that not making this leave of absence official I think is just getting all the costs of declaring a leave of absence without any of the benefits.
Saying they have been recused since November implies that they weren’t recused from decision-making regarding FTX prior to November. If this is true (and I’m hesitant because I don’t know all the facts), they were likely not following proper process prior to November.
I cannot comment to how FTX issues were handled prior to November. It’s entirely possible that Will and Nick recused themselves too. I’m also not sure what kind of FTX concerns were discussed.
Recusing themselves from FTX decision-making is significantly weaker than being on leave of absence. The latter implies that they are still part of decision-making for non-FTX related issues which I assume exist. (And technically recusing from decision-making also doesn’t mean recusing from discussion, so they could have still been involved in discussions regarding FTX, though I’d assume that they also recused themselves from that). I think it’s a significant difference.
Isn’t the whole point of recusing people so that you have something you can do when you don’t want to remove them? I think I’m just very differently calibrated from everyone else, but my reaction to hearing that they were recused was “seems okay, but perhaps driven by public image more than anything else”, so actually getting rid of them seems even more unnecessary to me.
A “normie” board would have at least put Will and Nick on a leave of absence. Putting people on a leave of absence when something happens that significantly affects the community’s trust and it is not possible to presently address that concern due to legal/other reasons is standard operating procedure for most larger organizations. It does not imply misconduct or maladministration by those who are placed on leave.
Or maybe not. Part of the problem is that the board was too small already, and I assume it was poorly positioned to sideline 2 of the 5 members while dealing with the reputational and other upheavels caused by FTX crisis, the (now-realized) possibility of Charity Commission involvement, and the management of massive clawback litigation.
It appears Will and Nick have recused themselves from FTX decision-making, so they’re probably de facto on a leave of absence anyway. If true, I furthermore think that not making this leave of absence official I think is just getting all the costs of declaring a leave of absence without any of the benefits.
Saying they have been recused since November implies that they weren’t recused from decision-making regarding FTX prior to November. If this is true (and I’m hesitant because I don’t know all the facts), they were likely not following proper process prior to November.
I cannot comment to how FTX issues were handled prior to November. It’s entirely possible that Will and Nick recused themselves too. I’m also not sure what kind of FTX concerns were discussed.
Recusing themselves from FTX decision-making is significantly weaker than being on leave of absence. The latter implies that they are still part of decision-making for non-FTX related issues which I assume exist. (And technically recusing from decision-making also doesn’t mean recusing from discussion, so they could have still been involved in discussions regarding FTX, though I’d assume that they also recused themselves from that). I think it’s a significant difference.
Isn’t the whole point of recusing people so that you have something you can do when you don’t want to remove them? I think I’m just very differently calibrated from everyone else, but my reaction to hearing that they were recused was “seems okay, but perhaps driven by public image more than anything else”, so actually getting rid of them seems even more unnecessary to me.
They obviously have incredibly clear and blatant conflicts of interest? Not sure how you could possibly think it is purely a public image concern.
Another option besides recusal and removing someone is a leave of absence.