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19) And more generally, if you look at everyone contributing to the cause as one portfolio--which is certainly true from the perspective of the child dying from malaria--they aren’t worried about who it was that funded their safety.

SBF

@SBF_FTX

Dec 11, 2020

20) So what does all this mean? It means that, when you’re thinking about your career, sometimes the altruistic thing to do is to take chances. Seek out the opportunities with the biggest upside, not the ones which are the safest, and hone in on that vision.

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SBF

@SBF_FTX

Dec 11, 2020

21) Sometimes that means a startup, or an experimental field, or a bold play. Sometimes it means starting a charity or a movement. When it comes to the scales of money, better is bigger.

SBF

@SBF_FTX

Dec 11, 2020

22) So given all that, why not bet all $100k? Why only $50k? Because if you bet $100k and lose, you can never bet again. And to the extent you think you have future ways to provide value that are contingent on having some amount of funding, it can be important to keep that.

SBF

@SBF_FTX

Dec 11, 2020

23) So as we near the end of the year and you think about giving: think long-term and think big. If you can only give a little bit this year because everything else is helping you build out your career, that’s fine.

SBF

@SBF_FTX

Dec 11, 2020

24) Do what you can to maximize the amount you can give long term, even if you’re not sure how it will end.

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SBF

@SBF_FTX

Dec 11, 2020

25) But if you’ve already made it--as many people who’ve held crypto this decade have--consider giving more than a little. Consider giving a lot. If there’s anything 2020 has taught us, it’s that the world needs it.

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SBF

@SBF_FTX

Dec 11, 2020

26) There are a number of great places to give. In the past I’ve given to charities recommended by givewell.org, animalcharityevaluators.org, and openphilanthropy.org if you want a place to start looking.

openphilanthropy.org

Home - Open Philanthropy

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Adam Cochran (adamscochran.eth)

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and

1/ I give at least 10% of my income each year, sometimes up to 25% usually try & divide between straight needs giving & projects that are more “teach a man to fish” such as charities that help develop businesses in areas of need Tough balance between need today & build tomorrow

Adam Cochran (adamscochran.eth)

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and

2/ Wonder if you’ve given any thoughts to the approach and balance between these two. I prefer the charities that help with long term development but also there is so much urgent need.

SBF

@SBF_FTX

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@adamscochran

yeah it's a tough one over time I've moved more towards the long term ones

4:34 AM · Dec 11, 2020Twitter Web App

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Adam Cochran (adamscochran.eth)

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and

1/ Yeah my wife works for an international development org focused on helping at risk individuals in developing nations create small businesses, so we travel most years to see projects. Its tough to decide to not allocate to other emergency needs, but the impact compounds.

Adam Cochran (adamscochran.eth)

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and

2/ Seeing women in the middle east get to start a preserves business, and then in turn invest in other local women to start farms and delivery businesses, was remarkable it built a whole network. But it does take time and has many more hurdles.

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