I’m going off memory and could be wrong, but in my recollection the thought here was not very thorough. I recall some throwaway lines like “of course this isn’t liquid yet”, but very little analysis. In hindsight, it feels like if you think you have between $0 and $1t committed, you should put a good amount of thought into figuring out the distribution.
One instance of this mattering a lot is the bar for spending in the current year. If you have $1t the bar is much lower and you should fund way more things right now. So information about the movement’s future finances turns out to have a good deal of moral value.
I might have missed this though and would be interested in reading posts from before 11⁄22 that you can dig up.
yeah, on second thought I think you’re right that at least the arg “For a fixed valuation, potential is inversely correlated with probability of success” probably got a lot less attention than it should have, at least in the relevant conversations I remember
I’m going off memory and could be wrong, but in my recollection the thought here was not very thorough. I recall some throwaway lines like “of course this isn’t liquid yet”, but very little analysis. In hindsight, it feels like if you think you have between $0 and $1t committed, you should put a good amount of thought into figuring out the distribution.
One instance of this mattering a lot is the bar for spending in the current year. If you have $1t the bar is much lower and you should fund way more things right now. So information about the movement’s future finances turns out to have a good deal of moral value.
I might have missed this though and would be interested in reading posts from before 11⁄22 that you can dig up.
yeah, on second thought I think you’re right that at least the arg “For a fixed valuation, potential is inversely correlated with probability of success” probably got a lot less attention than it should have, at least in the relevant conversations I remember