I was referring to #1. I don’t think fantasizing about being a central planner of the world makes much sense. I also thought #1 was what Open Phil was referring to when they talk about the “last dollar project”, though it’s certainly possible that I misunderstood (for starters I only skim podcasts and never read them in detail).
Ok, this makes perfect sense. Also this is also my understanding of “last dollar”.
My very quick response, which may be misinformed , is that Open Phil is solving some constrained spending problem with between $4B and $50B of funds (e.g. the lower number being half of the EA funds before Ben Todd’s update and the higher number being estimates of current funds).
Basically, in many models, the best path is going to be some fraction, say 3-5% of the total endowment each year (and there are reasons why it might be lower than 3%).
There’s no reason why this fraction or $ amount rises with the total value of the earth, e.g. even if we add the entire galaxy, we would spend the same amount.
Is this getting at your top level comment “I find myself very confused about the discrepancy”?
Ok, this makes perfect sense. Also this is also my understanding of “last dollar”.
My very quick response, which may be misinformed , is that Open Phil is solving some constrained spending problem with between $4B and $50B of funds (e.g. the lower number being half of the EA funds before Ben Todd’s update and the higher number being estimates of current funds).
Basically, in many models, the best path is going to be some fraction, say 3-5% of the total endowment each year (and there are reasons why it might be lower than 3%).
There’s no reason why this fraction or $ amount rises with the total value of the earth, e.g. even if we add the entire galaxy, we would spend the same amount.
Is this getting at your top level comment “I find myself very confused about the discrepancy”?
I may have missed something else.