I don't think that they own the EA community an explanation (it would be nice, but they don't have to). The only people that can have a right to demand that are the people that have appointed them there and the OAI staff.

https://forum.effectivealtruism.org/posts/zuqpqqFoue5LyutTv/the-ea-community-does-not-own-its-donors-money

>I might as well give my money to the San Francisco Symphony. At least they won't spend it ruining things that I care about.

It is your right, but I don't know how this is related? How have they spent EA donors' money? If you are referring to the Open Phil $30M grant, Open Phil doesn't take donations so they can donate to whoever they want and don't need to explain themselves. It would have been different if Open AI was spending GiveWell's money.
 

I have no idea what to make of this legal speak, but just the next memo (number 3746) mentions EV UK and some settlement for $4MM



If anyone can explain what this means that would be great

Has anything changed on the forum recently? I am no longer able to open posts in new tabs with middle-click? Is it just me?

My understanding of a 'hot take' is that it is an opinion that is rather controversial, not one that hasn't been thought for long? I think I can definitely have hot takes that I have deliberated on for long

Thanks for the answer, Rik, I appreciate it, even though I disagree with some points.

I don't agree that the evidence is solid that the investment is safe, mainly because "Past performance does not guarantee future results". For good or bad we live in interesting times, black swan events seem to happen more often and I don't think the way the stock marked moved in the 1900s is indicative of how it will go in the 2000s.

Also there have been long periods where the stock market has been negative, for example Japan's "Lost decade" (more like lost 30 years). If such a think happens you will not generate any interest and thus there will be no profit. How do you plan to cover operational costs if you have few consecutive years with no interest?

40+% average return is... too good to believe. Have you updated the numbers for this year as well or this is only for last year?

I am also very much against statements like "Your invested donation generates a profit" which are misleading. The donors should be made aware that their donation may as well generate a loss and I don't see this warning anywhere on the site.

Did I read the financial statement correctly, that the organization is currently running at a loss? How are you currently covering costs? How do you expect your expenses to scale if the donations scale?

Coinbase wants to charge me 3% to buy USDC with a debit card (the only option I'm given) and according to Polymarket's deposit page FTX does not support Polygon transfers of USDC

Do you know what is the cheapest way to convert fiat into USDC? Because if I get charged 2% on the conversion in and out it changes the payout dramatically