There are no controls because Manifund is only Austin Chen and Caroline Ellison, so this is 100% trust-based. I am concerned about the risk of Caroline Ellison committing financial crimes again. I take it many others are concerned about this risk as well. Between here and Austin’s Substack post, some comments have explicitly expressed concern that this is an unnecessary risk, e.g., noting how high recidivism rates are even when recidivism seems completely irrational. Beyond that, there is also the corruption aspect, which is not just a risk or a possibility — the corrupt quid pro quo has already occurred. That horse is out of the barn.
What an off-base thing to say. Caroline just got out of federal prison for one of the largest financial crimes in recent American history. Austin said one of the motivations for the hire is to reward her for the money FTX gave to Austin’s organizations in the course of committing these crimes. It looks completely insane and corrupt because it is completely insane and corrupt. What are you talking about?
What?? The only way to get top talent for financial roles is to hire people who have been convicted of financial crimes?? What are you talking about?!
I don’t know what specific people you’re referring to or the mistakes (as you put it) they made. So, I can’t comment.
People are being quite honest, open, and direct about the fact that trust and reputation are a big concern here, among other concerns such as corruption and increasing the risk of future financial crimes involving EA money. Who is pretending?
The philosopher David Thorstad’s recent blog post methodically goes through the multiple different concerns with this hire, point by point. David has a commendable amount of patience in explaining things like this.
Answers:
There are no controls because Manifund is only Austin Chen and Caroline Ellison, so this is 100% trust-based. I am concerned about the risk of Caroline Ellison committing financial crimes again. I take it many others are concerned about this risk as well. Between here and Austin’s Substack post, some comments have explicitly expressed concern that this is an unnecessary risk, e.g., noting how high recidivism rates are even when recidivism seems completely irrational. Beyond that, there is also the corruption aspect, which is not just a risk or a possibility — the corrupt quid pro quo has already occurred. That horse is out of the barn.
What an off-base thing to say. Caroline just got out of federal prison for one of the largest financial crimes in recent American history. Austin said one of the motivations for the hire is to reward her for the money FTX gave to Austin’s organizations in the course of committing these crimes. It looks completely insane and corrupt because it is completely insane and corrupt. What are you talking about?
What?? The only way to get top talent for financial roles is to hire people who have been convicted of financial crimes?? What are you talking about?!
I don’t know what specific people you’re referring to or the mistakes (as you put it) they made. So, I can’t comment.
People are being quite honest, open, and direct about the fact that trust and reputation are a big concern here, among other concerns such as corruption and increasing the risk of future financial crimes involving EA money. Who is pretending?
The philosopher David Thorstad’s recent blog post methodically goes through the multiple different concerns with this hire, point by point. David has a commendable amount of patience in explaining things like this.