I find the discourse on this quite confusing.
In the thread you linked to defending the purchase of Wytham Abbey, it’s suggested that CEA shouldn’t be criticized for the Wytham Abbey purchase as it was carried out by a separate organization in EVF. It’s then suggested EVF shouldn’t be criticized because EVF merely accepted a gift from a third party organization.
My understanding of the the sequence of events is:
Owen, a trustee of EVF, acting in his capacity as an advisor to the CEA (an organization under the control of EVF), asked fellow EVF Trustee Claire Zabel to fund the purchase of Wytham Abbey through Open Phil. Once funding was secured, Owen brought the purchase to the other three EVF Trustees of for approval.
In response to commentary on Wytham Abbey, Owen provides: “So EVF made two decisions here: they approved fiscal sponsorship, agreeing to take funds for this new project; and they then followed through and bought the property with the funds that had been earmarked for that. The second of these is technically a decision to buy the building (and was done by a legal entity at the time called CEA), but at that point it was fulfilling an obligation to the donor, so it would have been wild to decide anything else.”
Separate from any analysis of if Wytham Abbey was a worthwhile investment, the organizational concerns the Wytham Abbey purchase highlighted seem important to discuss.
Between the organizational conflation of CEA and EVF, and multiple EVF Trustees working in multiple capacities, I don’t even understand who is supposed to be subject to criticism.
Thank you sharing this. As a distinct matter, the specific way FTX failed also makes me more concerned about the viability of a certain type of mindset that seems somewhat common and normalized amongst some in the EA community.
holding the belief that by being very very smart, you can work in areas you have minimal experience and know better than others
having (experienced) adults in the room/adhering to formal compliance norms is overrated
understating the risks posed by conflict of interest issues
accepting ends justify the means type reasoning
I believe Sam’s adherence to the above referenced beliefs played a critical role in FTX’s story. I don’t think that any one of these beliefs is inherently problematic, but I have adjusted downwards against those who hold all of them.