Effective Altruism: Morally Buy An Island Nation - Episode 124

Cas Piancey and ‪@bennettftomlin‬ discuss the philosophy of Effective Altruism, how it influenced Sam Bankman-Fried, and how it contributed to the collapse of FTX and Alameda Research.
This video was recorded on July 27th, 2023.
Read more: cryptocriticscorner.com/2023/...
Additional episodes mentioned in this episode:
Episode 78 - Pre-Philanthropic Billionaires and Bitcoin (Feat. Mario Gibney)
• Bitcoin Lending, Effec...
Episode 15 - Revisiting Enron with David Z. Morris
• Revisiting Enron with ...
Episode 27 - Evergrande with David Z. Morris
• Evergrande with David ...
Episode 118 - How to spot a scam
• How to spot a scam - E...
Episode 122 - Justin Sun Owns TrueUSD
• Justin Sun Owns TrueUS...
FTX Playlist
• FTX, Alameda Research,...
Additional resources:
David Z. Morris discussing effective altruism power-brokers
www.coindesk.com/consensus-ma...
Time reporting on William MacAskill
time.com/6262810/sam-bankman-...
Coverage of EA and Alameda Research founding
protos.com/was-ftx-funded-by-...
Coverage of Leverage Research
protos.com/arkham-intelligenc...
Protos coverage of Lifeboat
protos.com/bitcoin-endowment-...
FTX and Nauru
www.cnbc.com/2023/07/21/ftx-l...
Other places to find Crypto Critics' Corner
Website: cryptocriticscorner.com/
Discord: / discord
Bluesky: bsky.app/profile/cryptocritic...
Mastodon: mstdn.social/@CryptoCriticPod
Twitter: / cryptocriticpod
Instagram: / cryptocriticpod
TikTok: vm.tiktok.com/TTPdPN2hK9/
Bennett's KZread: ‪@bennettftomlin‬
Bennett's D&D KZread: ‪@BTDND‬
Bennett's BlueSky: bsky.app/profile/bft.wtf
Cas' BlueSky: bsky.app/profile/caspiancey.b...
Bennett's Mastodon: mstdn.social/@bennetttomlin
Bennett's Twitter: / bennetttomlin
Cas' Twitter: / caspiancey
Bennett's Newsletter: TheFUDLetter.com/
Cas' Blog: / thecaspiancey
Bennett's Blog: bennettftomlin.com/
Timestamps:
#crypto #cryptocurrency #podcasts #listenable #ftx #alamedaresearch #sbf #sambankmanfried #ea #effectivealtruism #rationalists #lesswrong

Пікірлер: 72

  • @motionthings
    @motionthings11 ай бұрын

    Effective Altruism, longtermism and transhumanism is also deeply rooted in eugenics. Historian Émile P. Torres wrote an article in May this year in the magazine "Current Affairs", it's worth a read.

  • @CryptoCriticPod

    @CryptoCriticPod

    11 ай бұрын

    There’s definitely a lot of eugenicists in the community. I mentioned Leverage Research in the episode and one of their early members was a white nationalist

  • @andrewfriedrichs9340
    @andrewfriedrichs934011 ай бұрын

    I like the way you guys pick this apart. I would add that a possible reason AE found such fertile ground is because so many charities were/are flat out scams. Also it was pretty common to make a charity where your children just happened to be involved pulling a huge salary.

  • @CryptoCriticPod

    @CryptoCriticPod

    11 ай бұрын

    Doesn’t sound particularly effective when you put it like that

  • @picahudsoniaunflocked5426

    @picahudsoniaunflocked5426

    11 ай бұрын

    Good point as an entangled issue --- there's been a total mania for anyone, an individual or corporation, who wants to do anything "good" to launch their own charity instead of seeking to partner with proven, established, effective independent organizations since the 90s & it hurts in so many ways, not just nepotism/scam-adjacent/tax fraud stuff but replication of unnecessary bureaucracy or advocacy, contributing to public misperceptions or fatigue about charitable issues or donations, starving effective organizations of funds, distorting messaging, abusing government policy, fronting for destructive company activities, giving government excuses not to fix/fund certain things, not having proper oversight or transparency, "charismatic" causes sucking up all the attention, on & on & on.

  • @cadekachelmeier7251
    @cadekachelmeier725111 ай бұрын

    Man, income inequality is such a big issue. We should do something about it. What's the best way to go about it? Oh, I know. I'm going to try to get as rich as possible. I pinky promise cross my heart that I'll give it all up to the poors sometime in the nebulous future when I'm "done".

  • @bimsherwood7006

    @bimsherwood7006

    11 ай бұрын

    The current strat is to wait for the riches to die and hope their kids fritter it away.

  • @willschryver

    @willschryver

    11 ай бұрын

    ​@@bimsherwood7006Sounds like a form of "trickle-down" economics to me

  • @TheDavidlloydjones

    @TheDavidlloydjones

    7 ай бұрын

    @@bimsherwood7006 Shure is great to have a club i can join to tell everybody how altruistic I am...

  • @phnix6242

    @phnix6242

    Ай бұрын

    Haha you dont really believe that?

  • @barorepor3079

    @barorepor3079

    28 күн бұрын

    Agreed, this pseudo-philantropic philosophy sounds to me it like an attempt by billionaires to try to justify income inequalities.

  • @IsleyNumber1
    @IsleyNumber111 ай бұрын

    I've actually met a few Nauruans. Lovely people, very generous and friendly. Also really strong (I met them through powerlifting)

  • @phnix6242

    @phnix6242

    Ай бұрын

    Also very diabetes and smoking cigarettes

  • @tom_mitchelhill
    @tom_mitchelhill10 ай бұрын

    As a philosophy major (and a fan of the non-occult sect of EA myself) - Bennett's description and categorisation of the risks associated with hyper-rational, techno-utopic longtermists were simply fucking perfect.

  • @user-gs8jv4oq6w
    @user-gs8jv4oq6w11 ай бұрын

    This channel is one of the best in this industry

  • @TheAwnman
    @TheAwnman11 ай бұрын

    Also one thing I think that a lot of people in the money making space sometimes forget because it's not often actually used against them because of a globally fairly relaxed attitude to business regulation, is the power of the state. Like sink all the money into Nauru you want but Australia and the US are the two nations actually making the decisions in the region because they have the navies in the area. And if they don't want you to be running Nauru you won't be running Nauru. And it's the same for other effective altruism stuff, long-term investments work only so long as the states in the region you are building them permit them to exist.

  • @scottkirby5016

    @scottkirby5016

    11 ай бұрын

    oh I think they get that, that is why they gave so much money to political causes/figures.

  • @lo-fidevil2950
    @lo-fidevil2950Ай бұрын

    Cas Coin is a light shining in darkness. Inspiring!

  • @picahudsoniaunflocked5426
    @picahudsoniaunflocked542611 ай бұрын

    I hope Cas feels better. Those are legit things to be bummed out about & I'm sorry Cas was given reason to feel ruffled. Did a great show, regardless, as usual. I hope doing this empowering, smart, ethical, thoughtful show with your pal + colleague Bennett was restorative. Your work is restorative for me, so I want it to be for yourselves/your channel, too. This was such a fantastic episode. Thank you Cas + Bennett.

  • @gustavderkits8433
    @gustavderkits84336 ай бұрын

    Excellent discussion, especially the argument about infinity, which also affects religious discussions.

  • @scottkirby5016
    @scottkirby501611 ай бұрын

    It is hard to overstate just how far Nauru has fallen. For a time they were the wealthiest nation per capita in the world. It was called the Kuwait of the Pacific and the wild stories we hear today of "some oil sheik" buying or partying in some insane fashion applied to them just as much. Their sovereign wealth fund they had was both massive and shockingly poorly run on a scale that wouldn't be matched until 1MDB. Their dead economy really has opened them up to being willing to act as other people's dirty job home be it the banking fraud schemes of the 2000's or the detention sites for hire of today. So the thought of what they wanted to do with the island of setting up a lab for human enhancement and writing the regulation thereof seems particularly dark when combined with the EA philosophy. Sounds rather James Bond villain in just how crazy it is.

  • @picahudsoniaunflocked5426

    @picahudsoniaunflocked5426

    11 ай бұрын

    "Hello, I'd like to buy a lair...I mean, "island"..."

  • @scottkirby5016

    @scottkirby5016

    11 ай бұрын

    @@picahudsoniaunflocked5426 take a group that believes people should not be morally judged for their actions because free will doesn't exist and they are only the product of their environment (go ahead and read SBF's mothers 2013 ethics works...they are spooky) add the idea that future benefit can just justify whatever negative now because "future benefit" is defined by whatever we want it to be (reminds me of Enron's mark to market philosophy) is just asking for some weird Ubermench/star trek augments type result. and it will be good for us...we just don't understand, because they (the EA) are so smart....but first the lair.

  • @gordons-alive4940
    @gordons-alive49409 ай бұрын

    Sweet shirt. Vonnegut was so great at writing about the absurdity of human nature. He might have appreciated your channel!

  • @RideReport

    @RideReport

    7 ай бұрын

    Where’s the binance update!!!???

  • @Nick-ko1jx
    @Nick-ko1jx11 ай бұрын

    Great work on this video guys, I subbed when all the SBF drama was going on, your commentary on it has been great. I recommend watching a video by Jeffrey Kaplan titled "Peter Singer, ordinary people are evil". The video does a really good job going over Singer's argument in "Famine, Affluence, and Morality" which I think seriously complicates the implications of the effective altruist arguments.

  • @luisoncpp
    @luisoncpp11 ай бұрын

    Nice job!, you voiced most of my complains with utilitarianism and so far I hadn't found any other person to point them out.

  • @wswordsmen
    @wswordsmen11 ай бұрын

    I would argue that the two existential threats that it might be worth disregarding the problems in the here and now are Anthropogentric Climate Change and Asteroid/Comet impacts. The former there is a lot of work be done on it and it is helping people now. The latter you could do 90% of the work a private individual can do for under a billion dollars. If you build a space telescope to spot the would be Earth impactor and get it into space once the impactor is found it is likely that governments will be able to work to solve the rest of the problem. Five years and about $1 billion would go a long way to ensuring that humanity isn't forcibly removed from Earth, unless we are the ones to do it.

  • @ragnarosthefirelord8662
    @ragnarosthefirelord866211 ай бұрын

    What are the existential risks associated with CasCoin funds being appropriated for "weird cult sh*t"? Great episode, I agree that folks like MacAskill need to take accountability for how their movement was involved in FTX's fraud.

  • @CryptoCriticPod

    @CryptoCriticPod

    11 ай бұрын

    The appropriation of CasCoin prevents existential risks

  • @zanlooney343
    @zanlooney34311 ай бұрын

    The arrogance and hubris of these wealth "movements" is astounding.

  • @bend3rbot
    @bend3rbot8 ай бұрын

    Small Nation Fact check: Australia was Nauru's Protectorate nation before the guano mines were exploited. Naurubtue independent nation became incredibly wealthy but lost it to an independent investment swindler. Currently the nation is subsidized and financed into the billions annually by Australia.

  • @toomanyaccounts

    @toomanyaccounts

    8 ай бұрын

    the island wasted its wealth on luxury goods such as sports cars that they were too fat to get into as well as get rich schemes.

  • @picahudsoniaunflocked5426
    @picahudsoniaunflocked542611 ай бұрын

    Sorry for commenting so much, but this was a fantastic episode, so badly needed. Thank you. Also whoa there was a real bifurcation by the Mondo/Whole Earth Catalogue types, ethically speaking.

  • @CryptoCriticPod

    @CryptoCriticPod

    11 ай бұрын

    Commenting is good for the algorithm!

  • @marcberanger
    @marcberanger11 ай бұрын

    Many philosophies of life, and I include theist religions have been used to justify reprehensible behaviors'. EA really is the latest. Stoicism is also a favourite of the tech industry leadership as well and they view material wealth as a 'preferred indifferent'. The challenge for any philosophy is how the accumulation of wealth affects the ethics of your decisions. Humans seem to be able to rationalize many courses of action. I am not sure that if SBF was not a proponent of EA that this situation would have turned out any different.

  • @picahudsoniaunflocked5426
    @picahudsoniaunflocked542611 ай бұрын

    B's definition of EA would make a great Short imho.

  • @gregvinson1
    @gregvinson17 ай бұрын

    Wonder what good he calculated that justified the terrible misery inflicted upon customers by stealing 8 billion dollars? SBF in prison forever definitely serves the greater good. So, I suppose I may believe in effective altruism just a little bit

  • @yvelaine
    @yvelaine7 ай бұрын

    EA equals Charity ? Like the FBX advert they are re inventing the wheel .

  • @worl4
    @worl410 ай бұрын

    Invested in $CAS coin and lost my life savings. Thanks bois.

  • @CryptoCriticPod

    @CryptoCriticPod

    10 ай бұрын

    It’s not a loss yet, it’s a time-limited potential gain

  • @karakask5488
    @karakask54886 ай бұрын

    Effective altruism is colonialism cosplay for billionaires

  • @victorybeginsinthegarden
    @victorybeginsinthegarden9 ай бұрын

    How about pay people a fair living wage. I'm thinking of you Amazon

  • @toomanyaccounts

    @toomanyaccounts

    8 ай бұрын

    learn the origin of min wage and why it creates inflation that means it kills jobs, small businesses and means the wage becomes far less in value meaning that you were better off before the increase

  • @yvelaine
    @yvelaine7 ай бұрын

    So SBF can practice EA in prison .

  • @phnix6242
    @phnix6242Ай бұрын

    Shame you dont have 2 million listenees. People listen to assholes way to much, maybe if you had some lambos and ferraris and a villa with a shooting tange you could reach more people……

  • @jimbobu
    @jimbobu11 ай бұрын

    ??? Theorising about conspiracies is ok when we do it

  • @Marksman560
    @Marksman56011 ай бұрын

    "They become so focused on their pet issues they lose the ability to actually assess other things" Guess it should be called, Effective Autism 😄- Would also explain why they (have to) limit themselves to Utilitarianism 😆

  • @elliotoliver8679
    @elliotoliver86798 ай бұрын

    Effective altruism is code for Political Influence for these grifters

  • @JohnSmith-pn1vv
    @JohnSmith-pn1vv11 ай бұрын

    Does Cas not live in California? How he so white? 😄

  • @JinKee
    @JinKee11 ай бұрын

    Wtf? How is FTX still a thing?

  • @willschryver

    @willschryver

    11 ай бұрын

    It's literally not lol

  • @scottkirby5016

    @scottkirby5016

    11 ай бұрын

    because bankruptcy takes years to process in large complex corporate cases. This is stuff they are finding as they rip the corpse of FTX apart...it came from the suit by those in charge of the bankruptcy suing SBF to get him to give the money he gave himself (billion dollar unsecured IOU 1% interest no payment until 2026 type stuff) from the company back to the company so they can (minus generous management fees) distribute it to those who FTX owed money at the time of its collapse.

  • @jmitterii2

    @jmitterii2

    10 ай бұрын

    How is fake money for real money still a thing? Give all your real money for my fake money... so I can pay my rent! LOL!

  • @normalguy7898
    @normalguy789811 ай бұрын

    Whats up with your voice?

  • @goodpants1812
    @goodpants181210 ай бұрын

    Admittedly, I'm only 5 or so minutes in and definitely commenting prematurely, but I'm kind of disappointed at the framing given with that definition of EA. The core of EA is the idea that idea that you should try to figure out how to do the most good with what you have to give. That "biggest impact for your dollar" thing that Bennett mentioned at the beginning of his description really is it. Focusing so heavily on the fringe ideas some very online people involved in the movement have for how to achieve that biggest impact for their dollar seems like a bad way to describe EA as a whole. Existential threats or long-termism aren't what most people who are into EA spend their charity dollars on or time worrying about. It's just one annoying strand of a broad idea. Why are the examples given for EA orgs like Lifeboat when long-termism (and the poor accounting for uncertainty that goes into it) isn't representative of EA? edit: further in, it's looking up. Bennett brought up Peter Singer too. edit 2: @18:05 this has gone off the deep end and pretty far from the topic of effective altruism. After finishing it, I don't think this episode is about effective altruism as much as it is about fringe stuff that people online bash EA for that isn't actually EA. Giving money to blow up space asteroids instead of donating to a cancer charity is the complete opposite of effective altruism.

  • @CryptoCriticPod

    @CryptoCriticPod

    10 ай бұрын

    If these things aren’t EA then why are people who believe them commonly associated with well-funded EA organizations?

  • @CryptoCriticPod

    @CryptoCriticPod

    10 ай бұрын

    Like once you’re hanging out with MacAskill, funding CEA, buying and donating real estate to other EAs, I don’t think you’re on the fringes.

  • @goodpants1812

    @goodpants1812

    10 ай бұрын

    ​ @CryptoCriticPod Believing in something weird or creepy and being "commonly associated" with a philosophy doesn't mean your weird thing represents that philosophy - especially when it seems to contradict the aims of the philosophy. That's not how it works. Describing Catholicism to someone by referring to the child abuse scandals would still be providing a pretty bad faith description of the faith despite the high stature of some of the perpetrators in the organization, no?

  • @goodpants1812

    @goodpants1812

    10 ай бұрын

    MacAskill is a big figure promoting EA, but he isn't the movement. You even mentioned in the podcast one of the names who I think has had more influence and has more useful things to say on the topic: Peter Singer. I get that if you're spending your time focused on SBF, this would be the easy perspective to take, but if counting the degrees of separation from crypto scammers on the internet is where you're coming to get your understanding of a subject then you're skewing your perspective on the subject.