Luc Olinga on effective altruism's omnipresence in Silicon Valley and prestigious universities

Bankman-Fried had adopted a posture, nourished by the current philosophy of Effective Altruism, omnipresent within Silicon Valley and the prestigious universities.  The EA ideology boils down to "the most good can be done by choosing to make the most money possible in order to give it all away."  Earn-to-give is the community’s leitmotif. 

The FTX debacle shows that those who sign the checks are inspired by those who look like them, who have been to the same schools as them, who come from the same socioeconomic backgrounds as them, who share their realities.  If you're different, you're almost out of luck.

~ Luc Olinga, "Crypto Is Full of FTX's Bankman-Fried," TheStreet.com, November 24, 2022