Does OpenPhil have proof of reserves? Seems like it would be good reassurance for the EA community to see that significant funds are under independent legal control from their source (which was not the case with the FTX Foundation!)
The assets of the Good Ventures Foundation (who Open Phil is recommending their grants to) are a matter of public record (albeit delayed). They had more than $3bn in June 2020.
GV is basically controlled by Moskovitz and Tuna, who are on its board. This is a much better situation than SBF’s—the money here is committed to charity and can’t just be taken for other goals—but it still has the problem of “the course of EA is almost entirely decided by two wealthy individuals”.
Ah! The simplest possible way! We should probably encourage them to add another 2: I am not so cynical as to think that no one is willing to give up control, so it might work.
Does OpenPhil have proof of reserves? Seems like it would be good reassurance for the EA community to see that significant funds are under independent legal control from their source (which was not the case with the FTX Foundation!)
The assets of the Good Ventures Foundation (who Open Phil is recommending their grants to) are a matter of public record (albeit delayed). They had more than $3bn in June 2020.
GV is basically controlled by Moskovitz and Tuna, who are on its board. This is a much better situation than SBF’s—the money here is committed to charity and can’t just be taken for other goals—but it still has the problem of “the course of EA is almost entirely decided by two wealthy individuals”.
If they can’t legally just take the money back, how do they control where it goes exactly? Can they sack the other board members?
There’s just one additional board member. (Source)
Ah! The simplest possible way! We should probably encourage them to add another 2: I am not so cynical as to think that no one is willing to give up control, so it might work.