Additional pro:
Possible loss of the unique prospect to make the world critically thinking and cooperative (extremely high WALY): FTX uniquely uses marketing that motivates critical thinking and cooperation, while Binance (just like almost any other company) uses fear, shame, perception of deprivation, and other negative emotions to attract and keep customers. Assuming the global expansion of the metaverse, whether people are enjoying cooperation and thought processes versus assume an aggressive/hateful environment which they have to pay attention to makes a decisive difference in the global quality of life.
Con: Uncertainty in FTX marketing success: It is uncertain whether FTX would have successfully scaled up this marketing and norms. Possibly, if a prospective trader/NFT collector sees a Binance ad that uses almost subliminal techniques to motivate the impulse to participate (e. g. subconsciously gaining the power to abuse while protecting oneself) and after sees an FTX ad that shows a complex critique on the initial skepticism around well-known innovations, they may just use Binance because, without critical thinking, it is the more powerful/threatening actor.
Con: FTX cannot oversee a decentralized ecosystem: Decentralized ecosystem does not allow for product standardization. Since hundreds of new products emerge, FTX cannot effectively oversee most marketing and product development.
Con: Meta to an extent optimizes for attention so would likely use normal marketing. Since Meta largely optimizes for attention, it is likely that if its stakeholders acquire FTX, the marketing would become normal, similar to that of Binance.
Con: FTX.us is unaffected. The marketing that I was referring to was used in the US. FTX.us is unaffected by the purchase. Thus, it can be argued that the sale does not affect FTX (US) marketing substantially.
Additional con:
Counterfactual investment opportunities for Dustin Moskovitz and SBF: With the sale to Binance, both Dustin Moskovitz and SBF will be able to invest into other ventures. These ventures can be more profitable and/or impactful than FTX. Thus, ‘Profit for Good’ could be maximized.
CZ is in it to donate to charity: According to this video (which is similar to the one with SBF), CZ “plans to donate his wealth to charity.” Thus, this development can be truly seen as ‘competitive cooperation’ rather than ‘taking the money to buy yachts.’
This would suggest that Dustin Moskovitz should not buy FTX. However, that is only a guess.
Even in emerging economies, impact needs funding. (Effective) donations are not mentioned in the post. However, they should be quite central, because of
1) Solidarity: Even little privileged people in EA in LMICs should keep solidarity with large donors: everyone is giving up some ‘next level’ comforts, compared to their norm. Whether that is the smaller Tesla or walking for the hour every day.
That personal commitment can make the community a yet more honorable place to be a part of.
2) Impact: Not only “[s]mall donors can sometimes beat large donors in terms of cost-effectiveness,[1]” for example by identifying the 1 in 10,000 children who would have died from malaria in a community with or without nets and buying them the $4 treatment, but also they can show/test paths for more cost-effective donations.
This will make dialogues with large donors very fruitful, as both parties[2] will be bringing their very significant comparative advantages.
3) Change leverage: People who are invested in finding yet better ways of caring for others whose issues they connect with should enjoy greater community approval than those who waited for instructions and received funding to advance others’ solutions.
People who could be supported in scaling up programs will be the ones who sincerely care. This is necessary for a change to happen.
4) Solutions pressure: For many relatively privileged people in LMICs, it can be common to support many others. For example, it is possible to meet even 5 begging children trying to gain attention every day and donate to some. If one is spending others’ funding, they may seek to just gain the $1,000 GiveDirectly transfer for each of them, which is unrealistic given the scale of poverty.
If one is spending their own funds, they may think twice about a sustainable yet affordable program that would make a decisive impact for the children.
The post suggests to start with values and methodologies used by prominent Western institutions[3] and conduct evaluations of local situations only after these values are internalized.
This can lead to value imposition.
Rather, one can start with local values or value systems and develop/refine/discuss methodologies for their measurement. This can enrich the discourse on the meaning(s) of ‘good.’
Some resources on values presented by local scholars and their measurements include this paper on measuring Ubuntu, this “Buddhist perspective on measuring wellbeing and happiness in sustainable development,” and this page on broad values in Hinduism.[4]
The key can be to discern which values are truly held by the people vs. presented by a scholar but not held as well as which are internalized based on own decisions vs. based on conformation to a previous or an external standard.
I interpret, here, small and large donor as an average-income person in a LIC and a HIC.
I am imagining a person who had only $4 to donate in a month and someone who had $4,000 speaking about effective ways of saving lives. I am not stating a LMICs vs. HICs dichotomy.
based on the presumed origin of the frameworks in the post and the resources sheet
People in different contexts in LMICs (and HICs) can be better informed on various quality values-measurements resources.