William MacAskill Profile picture
Nov 11, 2022 19 tweets 5 min read Read on X
This is a thread of my thoughts and feelings about the actions that led to FTX’s bankruptcy, and the enormous harm that was caused as a result, involving the likely loss of many thousands of innocent people’s savings.
Based on publicly available information, it seems to me more likely than not that senior leadership at FTX used customer deposits to bail out Alameda, despite terms of service prohibiting this, and a (later deleted) tweet from Sam claiming customer deposits are never invested.
Some places making the case for this view include: wsj.com/articles/ftx-t…; ; bloomberg.com/opinion/articl… (and follow on articles)
I am not certain that this is what happened. I haven’t been in contact with anyone at FTX (other than those at Future Fund), except a short email to resign from my unpaid advisor role at Future Fund. If new information vindicates FTX, I will change my view and offer an apology.
But if there was deception and misuse of funds, I am outraged, and I don’t know which emotion is stronger: my utter rage at Sam (and others?) for causing such harm to so many people, or my sadness and self-hatred for falling for this deception.
I want to make it utterly clear: if those involved deceived others and engaged in fraud (whether illegal or not) that may cost many thousands of people their savings, they entirely abandoned the principles of the effective altruism community.
If this is what happened, then I cannot in words convey how strongly I condemn what they did. I had put my trust in Sam, and if he lied and misused customer funds he betrayed me, just as he betrayed his customers, his employees, his investors, & the communities he was a part of.
For years, the EA community has emphasised the importance of integrity, honesty, and the respect of common-sense moral constraints. If customer funds were misused, then Sam did not listen; he must have thought he was above such considerations.
A clear-thinking EA should strongly oppose “ends justify the means” reasoning. I hope to write more soon about this. In the meantime, here are some links to writings produced over the years.
These are some relevant sections from What We Owe The Future: ImageImageImageImage
Here is Toby Ord in The Precipice: Image
Here are the Centre for Effective Altruism’s Guiding Principles: forum.effectivealtruism.org/posts/Zxuksovf… Image
If FTX misused customer funds, then I personally will have much to reflect on. Sam and FTX had a lot of goodwill – and some of that goodwill was the result of association with ideas I have spent my career promoting. If that goodwill laundered fraud, I am ashamed.
As a community, too, we will need to reflect on what has happened, and how we could reduce the chance of anything like this from happening again. Yes, we want to make the world better, and yes, we should be ambitious in the pursuit of that.
But that in no way justifies fraud. If you think that you’re the exception, you’re duping yourself.
We must make clear that we do not see ourselves as above common-sense ethical norms, and must engage criticism with humility.
I know that others from inside and outside of the community have worried about the misuse of EA ideas in ways that could cause harm. I used to think these worries, though worth taking seriously, seemed speculative and unlikely.
I was probably wrong. I will be reflecting on this in the days and months to come, and thinking through what should change.

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More from @willmacaskill

Nov 1, 2022
Some people associate longtermism with a “tech-accelerationist” / prototypical Silicon Valley worldview.

But this is wrong: given the risks we face, endorsing longtermism implies being much *more cautious* about many new technologies…
Many of the biggest threats to future generations are catastrophes that could be caused by technologies like synthetic biology and artificial intelligence. Often, longtermists favour regulating, slowing down, or banning dangerous new tech.
The starkest example of this is AI.

Longtermists are among those *most* worried about rapid and incautious AI development (eg. below)

forum.effectivealtruism.org/posts/EG9xDM8Y…
Read 15 tweets
Oct 24, 2022
One common objection to longtermism is that it is just an “excuse” for not caring about the important problems of today’s world, instead focusing on speculative futurism.

I think this objection is badly misguided, for two reasons. 🧵
Longtermists think long-term, and act *now* — in practice, longtermists work on *present-day* problems that have long-term consequences, like pandemics, nuclear war, and risks from AI.

These actions benefit both the present generation *and* future generations. Image
In some cases, it just is important and right to take actions that will only bear fruit after decades of work. This has been true of much scientific research, work to mitigate climate change, and many social movements.
Read 30 tweets
Oct 20, 2022
Since its launch, What We Owe The Future has received its fair share of criticism. Here’s a thread expanding on some of the objections I think are most compelling 🧵
The first is just: what, exactly, follows from longtermism? Ok, sure, future generations are important and neglected, and we can help them — but given *all* the risks we face, what should we prioritise?
WWOTF doesn’t really address this. Alexander Berger highlights this objection; a truly excellent as-yet unpublished critique by @KelseyTuoc does, too.

Read 36 tweets
Aug 8, 2022
The New Yorker profile of me and effective altruism came out today. I’ve been looking forward to this day for months, and I loved reading Gideon Lewis-Kraus’ beautiful prose (even if I think I’m neither ‘reluctant’ nor a ‘prophet’!)

🧵

newyorker.com/magazine/2022/…
Gideon spent ten days shadowing me for the article — 7 in Oxford and 3 in Berkeley. We had so many conversations. I felt very exposed! Though Gideon made every effort to make sure I was comfortable.
I think the piece does an especially good job portraying the early days of EA, and the deep moral conflict I felt about being born into a rich country while so many people in the world live in poverty.
Read 15 tweets
Aug 8, 2022
A great question! And by luck I have a new piece in @BBC_Future that answers exactly this…
bbc.com/future/article…

🧵
I’ve written what I hope to be a one-stop explainer article on longtermism - about both the philosophy and the amazing work that people are actually doing: from pandemic prevention to ensuring the safety of advanced AI.
As an example of longtermism in practice, I focus on the work of @kesvelt, who studies how to monitor wastewater for new pathogens and advance far-UVC lighting which could eradicate many airborne diseases.
Read 5 tweets
Aug 2, 2022
So, er, it seems that Elon Musk just tweeted about What We Owe The Future. Crazy times! You might wonder: Where do we agree and disagree? Here’s a thread.
Agreement: We both take seriously the sheer scale of the future that lies before us, and the sheer stakes involved when considering the challenges that could shape our future.
(I didn’t always buy these ideas. For much of my life, I spent my energy on more visceral problems — my first book, Doing Good Better, was all about how we can most effectively improve the lives of the extreme poor, such as by funding anti-malarial bednets.
Read 15 tweets

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