I don’t see any deep problem with a funder saying to Will and Nick, “I trust your judgment, so please help guide the Future Fund, including by disbursing however much you think is needed or ideal for your existing orgs (CEA/EVF).” It’s only a conflict of interests if the funder doesn’t really trust them (or has different philanthropic priorities), right?
Of course, often we don’t trust people, so we put up conflict of interest rules. But it’s not clear that such rules would have been desirable in this case. After all, there would seem obvious reasons for SBF to both (i) want Will’s & Nick’s guidance for the Future Fund, and (ii) want to support CEA’s work.
On second thought, you’re right. SBF was fine with using FTX money to buy beachfront mansions in the Bahamas, so it probably does fit with SBF’s “philanthropic priorities”. But then SBF is a conman, so I really don’t think “It’s what SBF would have wanted” is a very good justification for any of this!
And CEA/EVF wants to keep the money that was probably stolen from FTX customers because....why, exactly? What’s the ethical justification here?
I don’t see any deep problem with a funder saying to Will and Nick, “I trust your judgment, so please help guide the Future Fund, including by disbursing however much you think is needed or ideal for your existing orgs (CEA/EVF).” It’s only a conflict of interests if the funder doesn’t really trust them (or has different philanthropic priorities), right?
Of course, often we don’t trust people, so we put up conflict of interest rules. But it’s not clear that such rules would have been desirable in this case. After all, there would seem obvious reasons for SBF to both (i) want Will’s & Nick’s guidance for the Future Fund, and (ii) want to support CEA’s work.
On second thought, you’re right. SBF was fine with using FTX money to buy beachfront mansions in the Bahamas, so it probably does fit with SBF’s “philanthropic priorities”. But then SBF is a conman, so I really don’t think “It’s what SBF would have wanted” is a very good justification for any of this!
And CEA/EVF wants to keep the money that was probably stolen from FTX customers because....why, exactly? What’s the ethical justification here?