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    Science

    Dwarkesh Podcast

    Deeply researched interviews

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    Copyright: © Dwarkesh Patel

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    Latest Episodes:
    Charles C. Mann - Americas Before Columbus & Scientific Wizardry Sep 14, 2022
    Show notes

    Charles C. Mann is the author of three of my favorite history books: 1491. 1493, and The Wizard and the Prophet.

    We discuss:

    * why Native American civilizations collapsed and why they failed to make more technological progress

    * why he disagrees with Will MacAskill about longtermism

    * why there aren’t any successful slave revolts

    * how geoengineering can help us solve climate change

    * why Bitcoin is like the Chinese Silver Trade

    * and much much more!

    Timestamps

    (0:00:00) -Epidemically Alternate Realities

    (0:00:25) -Weak Points in Empires

    (0:03:28) -Slave Revolts

    (0:08:43) -Slavery Ban

    (0:12:46) - Contingency & The Pyramids

    (0:18:13) - Teotihuacan

    (0:20:02) - New Book Thesis

    (0:25:20) - Gender Ratios and Silicon Valley

    (0:31:15) - Technological Stupidity in the New World

    (0:41:24) - Religious Demoralization

    (0:43:24) - Critiques of Civilization Collapse Theories

    (0:48:29) - Virginia Company + Hubris

    (0:52:48) - China’s Silver Trade

    (1:02:27) - Wizards vs. Prophets

    (1:07:19) - In Defense of Regulatory Delays

    (1:11:50) -Geoengineering

    (1:16:15) -Finding New Wizards

    (1:18:10) -Agroforestry is Underrated

    (1:27:00) -Longtermism & Free Markets


    This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.dwarkesh.com

    Austin Vernon - Energy Superabundance, Starship Missiles, & Finding Alpha Sep 08, 2022
    Show notes

    Austin Vernon is an engineer working on a new method for carbon capture, and he has one of the most interesting blogs on the internet, where he writes about engineering, software, economics, and investing.

    We discuss how energy superabundance will change the world, how Starship can be turned into a kinetic weapon, why nuclear is overrated, blockchains, batteries, flying cars, finding alpha, & much more!

    Watch on YouTube. Listen on Apple Podcasts, Spotify, or any other podcast platform. Read the full transcript here.

    Follow Austin on Twitter. Follow me on Twitter for updates on future episodes.

    Timestamps

    (0:00:00) - Intro

    (0:01:53) - Starship as a Weapon

    (0:19:24) - Software Productivity

    (0:41:40) - Car Manufacturing

    (0:57:39) - Carbon Capture

    (1:16:53) - Energy Superabundance

    (1:25:09) - Storage for Cheap Energy

    (1:31:25) - Travel in Future

    (1:33:27) - Future Cities

    (1:39:58) - Flying Cars

    (1:43:26) - Carbon Shortage

    (1:48:03) - Nuclear

    (2:12:44) - Solar

    (2:14:44) - Alpha & Efficient Markets

    (2:22:51) - Conclusion


    This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.dwarkesh.com

    Steve Hsu - Intelligence, Embryo Selection, & The Future of Humanity Aug 23, 2022
    Show notes

    Steve Hsu is a Professor of Theoretical Physics at Michigan State University and cofounder of the company Genomic Prediction.

    We go deep into the weeds on how embryo selection can make babies healthier and smarter.

    Watch on YouTube. Listen on Apple Podcasts, Spotify, or any other podcast platform.

    Read the full transcript here.

    Follow Steve on Twitter. Follow me on Twitter for updates on future episodes.

    Timestamps

    (0:00:14) - Feynman’s advice on picking up women

    (0:11:46) - Embryo selection

    (0:24:19) - Why hasn't natural selection already optimized humans?

    (0:34:13) - Aging

    (0:43:18) - First Mover Advantage

    (0:53:38) - Genomics in dating

    (0:59:20) - Ancestral populations

    (1:07:07) - Is this eugenics?

    (1:15:08) - Tradeoffs to intelligence

    (1:24:25) - Consumer preferences

    (1:29:34) - Gwern

    (1:33:55) - Will parents matter?

    (1:44:45) - Wordcels and shape rotators

    (1:56:45) - Bezos and brilliant physicists

    (2:09:35) - Elite education


    This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.dwarkesh.com

    Will MacAskill - Longtermism, Altruism, History, & Technology Aug 09, 2022
    Show notes

    Will MacAskill is one of the founders of the Effective Altruist movement and the author of the upcoming book, What We Owe The Future.We talk about improving the future, risk of extinction & collapse, technological & moral change, problems of academia, who changes history, and much more.Watch on YouTube. Listen on Apple Podcasts, Spotify, or any other podcast platform.Episode website + Transcript here.Follow Will on Twitter. Follow me on Twitter for updates on future episodes.Subscribe to find out about future episodes!Timestamps(00:23) - Effective Altruism and Western values(07:47) - The contingency of technology(12:02) - Who changes history?(18:00) - Longtermist institutional reform(25:56) - Are companies longtermist?(28:57) - Living in an era of plasticity(34:52) - How good can the future be?(39:18) - Contra Tyler Cowen on what’s most important(45:36) - AI and the centralization of power(51:34) - The problems with academiaPlease share if you enjoyed this episode! Helps out a ton!TranscriptDwarkesh Patel 0:06Okay, today I have the pleasure of interviewing William MacAskill. Will is one of the founders of the Effective Altruism movement, and most recently, the author of the upcoming book, What We Owe The Future. Will, thanks for coming on the podcast.Will MacAskill 0:20Thanks so much for having me on.Effective Altruism and Western valuesDwarkesh Patel 0:23My first question is: What is the high-level explanation for the success of the Effective Altruism movement? Is it itself an example of the contingencies you talk about in the book?Will MacAskill 0:32Yeah, I think it is contingent. Maybe not on the order of, “this would never have happened,” but at least on the order of decades. Evidence that Effective Altruism is somewhat contingent is that similar ideas have been promoted many times during history, and not taken on.We can go back to ancient China, the Mohists defended an impartial view of morality, and took very strategic actions to help all people. In particular, providing defensive assistance to cities under siege. Then, there were early utilitarians. Effective Altruism is broader than utilitarianism, but has some similarities. Even Peter Singer in the 70s had been promoting the idea that we should be giving most of our income to help the very poor — and didn’t get a lot of traction until early 2010 after GiveWell and Giving What We Can launched.What explains the rise of it? I think it was a good idea waiting to happen. At some point, the internet helped to gather together a lot of like-minded people which wasn’t possible otherwise. There were some particularly lucky events like Alex meeting Holden and me meeting Toby that helped catalyze it at the particular time it did.Dwarkesh Patel 1:49If it's true, as you say, in the book, that moral values are very contingent, then shouldn't that make us suspect that modern Western values aren't that good? They're mediocre, or worse, because ex ante, you would expect to end up with a median of all the values we could have had at this point. Obviously, we'd be biased in favor of whatever values we were brought up in.Will MacAskill 2:09Absolutely. Taking history seriously and appreciating the contingency of values, appreciating that if the Nazis had won the World War, we would all be thinking, “wow, I'm so glad that moral progress happened the way it did, and we don't have Jewish people around anymore. What huge moral progress we had then!” That's a terrifying thought. I think it should make us take seriously the fact that we're very far away from the moral truth.One of the lessons I draw in the book is that we should not think we're at the end of moral progress. We should not think, “Oh, we should lock in the Western values we have.” Instead, we should spend a lot of time trying to figure out what's actually morally right, so that the future is guided by the right values, rather than whichever happened to win out.Dwarkesh Patel 2:56So that makes a lot of sense. But I'm asking a slightly separate question—not only are there possible values that could be better than ours, but should we expect our values - we have the sense that we've made moral progress (things are better than they were before or better than most possible other worlds in 2100 or 2200)- should we not expect that to be the case? Should our priors be that these are ‘meh’ values?Will MacAskill 3:19Our priors should be that our values are as good as expected on average. Then you can make an assessment like, “Are other values of today going particularly well?” There are some arguments you could make for saying no. Perhaps if the Industrial Revolution happened in India, rather than in Western Europe, then perhaps we wouldn't have wide-scale factory farming—which I think is a moral atrocity. Having said that, my view is to think that we're doing better than average.If civilization were just a redraw, then things would look worse in terms of our moral beliefs and attitudes. The abolition of slavery, the feminist movement, liberalism itself, democracy—these are all things that we could have lost and are huge gains.Dwarkesh Patel 4:14If that's true, does that make the prospect of a long reflection dangerous? If moral progress is a random walk, and we've ended up with a lucky lottery, then you're possibly reversing. Maybe you're risking regression to the mean if you just have 1,000 years of progress.Will MacAskill 4:30Moral progress isn't a random walk in general. There are many forces that act on culture and on what people believe. One of them is, “What’s right, morally speaking? What's their best arguments support?” I think it's a weak force, unfortunately.The idea of lumbar flexion is getting society into a state that before we take any drastic actions that might lock in a particular set of values, we allow this force of reason and empathy and debate and goodhearted model inquiry to guide which values we end up with.Are we unwise?Dwarkesh Patel 5:05In the book, you make this interesting analogy where humans at this point in history are like teenagers. But another common impression that people have of teenagers is that they disregard wisdom and tradition and the opinions of adults too early and too often. And so, do you think it makes sense to extend the analogy this way, and suggest that we should be Burkean Longtermists and reject these inside-view esoteric threats?Will MacAskill 5:32My view goes the opposite of the Burkean view. We are cultural creatures in our nature, and are very inclined to agree with what other people think even if we don't understand the underlying mechanisms. It works well in a low-change environment. The environment we evolved towards didn't change very much. We were hunter-gatherers for hundreds of years.Now, we're in this period of enormous change, where the economy is doubling every 20 years, new technologies arrive every single year. That's unprecedented. It means that we should be trying to figure things out from first principles.Dwarkesh Patel 6:34But at current margins, do you think that's still the case? If a lot of EA and longtermist thought is first principles, do you think that more history would be better than the marginal first-principles thinker?Will MacAskill 6:47Two things. If it's about an understanding of history, then I'd love EA to have a better historical understanding. The most important subject if you want to do good in the world is philosophy of economics. But we've got that in abundance compared to there being very little historical knowledge in the EA community.Should there be even more first-principles thinking? First-principles thinking paid off pretty well in the course of the Coronavirus pandemic. From January 2020, my Facebook wall was completely saturated with people freaking out, or taking it very seriously in a way that the existing institutions weren't. The existing institutions weren't properly updating to a new environment and new evidence.The contingency of technologyDwarkesh Patel 7:47In your book, you point out several examples of societies that went through hardship. Hiroshima after the bombings, Europe after the Black Death—they seem to have rebounded relatively quickly. Does this make you think that perhaps the role of contingency in history, especially economic history is not that large? And it implies a Solow model of growth? That even if bad things happen, you can rebound and it really didn't matter?Will MacAskill 8:17In economic terms, that's the big difference between economic or technological progress and moral progress. In the long run, economic or technological progress is very non-contingent. The Egyptians had an early version of the steam engine, semaphore was only developed very late yet could have been invented thousands of years in the past.But in the long run, the instrumental benefits of tech progress, and the incentives towards tech progress and economic growth are so strong, that we get there in a wide array of circumstances. Imagine there're thousands of different societies, and none are growing except for one. In the long run, that one becomes the whole economy.Dwarkesh Patel 9:10It seems that particular example you gave of the Egyptians having some ancient form of a steam engine points towards there being more contingency? Perhaps because the steam engine comes up in many societies, but it only gets turned into an industrial revolution in one?Will MacAskill 9:22In that particular case, there's a big debate about whether quality of metalwork made it actually possible to build a proper steam engine at that time. I mentioned those to share some amazing examples of contingency prior to the Industrial Revolution.It's still contingency on the order of centuries to thousands of years. Post industrial-revolution world, there's much less contingency. It's much harder to see technologies that wouldn't have happened within decades if they hadn't been developed when they were.Dwarkesh Patel 9:57The model here is, “These general-purpose changes in the state of technology are contingent, and it'd be very important to try to engineer one of those. But other than that, it's going to get done by some guy creating a start-up anyways?”Will MacAskill 10:11Even in the case of the steam engine that seemed contingent, it gets developed in the long run. If the Industrial Revolution hadn't happened in Britain in the 18th century, would it have happened at some point? Would similar technologies that were vital to the industrial revolution developed? Yes, there are very strong incentives for doing so.If there’s a culture that's into making textiles in an automated way as opposed to England in the 18th century, then that economy will take over the world. There's a structural reason why economic growth is much less contingent than moral progress.Dwarkesh Patel 11:06When people think of somebody like Norman Borlaug and the Green Revolution. It's like, “If you could have done something that, you'd be the greatest person in the 20th century.” Obviously, he's still a very good man, but would that not be our view? Do you think the green revolution would have happened anyways?Will MacAskill 11:22Yes. Norman Borlaug is sometimes credited with saving a billion lives. He was huge. He was a good force for the world. Had Norman Borlaug not existed, I don’t think a billion people would have died. Rather, similar developments would have happened shortly afterwards.Perhaps he saved tens of millions of lives—and that's a lot of lives for a person to save. But, it's not as many as simply saying, “Oh, this tech was used by a billion people who would have otherwise been at risk of starvation.” In fact, not long afterwards, there were similar kinds of agricultural development.Who changes history?Dwarkesh Patel 12:02What kind of profession or career choice tends to lead to the highest counterfactual impact? Is it moral philosophers?Will MacAskill 12:12Not quite moral philosophers, although there are some examples. Sticking on science technology, if you look at Einstein, theory of special relativity would have been developed shortly afterwards. However, theory of general relativity was plausibly decades in advance. Sometimes, you get surprising leaps. But, we're still only talking about decades rather than millennia. Moral philosophers could make long-term difference. Marx and Engels made an enormous, long-run difference. Religious leaders like Mohammed, Jesus, and Confucius made enormous and contingent, long-run difference. Moral activists as well.Dwarkesh Patel 13:04If you think that the changeover in the landscape of ideas is very quick today, would you still think that somebody like Marx will be considered very influential in the long future? Communism lasted less than a century, right?Will MacAskill 13:20As things turned out, Marx will not be influential over the long term future. But that could have gone another way. It's not such a wildly different history. Rather than liberalism emerging dominant in the 20th century, it was communism. The better technology gets, the better the ruling ideology is to cement its ideology and persist for a long time. You can get a set of knock-on effects where communism wins the war of ideas in the 20th century.Let’s say a world-government is based around those ideas, then, via anti-aging technology, genetic-enhancement technology, cloning, or artificial intelligence, it's able to build a society that possesses forever in accordance with that ideology.Dwarkesh Patel 14:20The death of dictators is especially interesting when you're thinking about contingency because there are huge changes in the regime. It makes me think the actual individual there was very important and who they happened to be was contingent and persistent in some interesting ways.Will MacAskill 14:37If you've got a dictatorship, then you've got single person ruling the society. That means it's heavily contingent on the views, values, beliefs, and personality of that person.Scientific talentDwarkesh Patel 14:48Going back to the second nation, in the book, you're very concerned about fertility. It seems your model about scientific and technological progress happens is number of people times average researcher productivity. If resource productivity is declining and the number of people isn't growing that fast, then that's concerning.Will MacAskill 15:07Yes, number of people times fraction of the population devoted to R&D.Dwarkesh Patel 15:11Thanks for the clarification. It seems that there have been a lot of intense concentrations of talent and progress in history. Venice, Athens, or even something like FTX, right? There are 20 developers making this a multibillion dollar company—do these examples suggest that organization and congregation of researchers matter more than the total amount?Will MacAskill 15:36The model works reasonably well. Throughout history, you start from a very low technological baseline compared to today. Most people aren't even trying to innovate. One argument for why Baghdad lost its Scientific Golden Age is because the political landscape changed such that what was incentivized was theological investigation rather than scientific investigation in the 10th/11th century AD.Similarly, one argument for why Britain had a scientific and industrial revolution rather than Germany was because all of the intellectual talent in Germany was focused on making amazing music. That doesn't compound in the way that making textiles does. If you look at like Sparta versus Athens, what was the difference? They had different cultures and intellectual inquiry was more rewarded in Athens.Because they're starting from a lower…

    Full show notes at the publisher

    Joseph Carlsmith - Utopia, AI, & Infinite Ethics Aug 03, 2022
    Show notes

    Joseph Carlsmith is a senior research analyst at Open Philanthropy and a doctoral student in philosophy at the University of Oxford.

    We discuss utopia, artificial intelligence, computational power of the brain, infinite ethics, learning from the fact that you exist, perils of futurism, and blogging.

    Watch on YouTube. Listen on Spotify, Apple Podcasts, etc.

    Episode website + Transcript here.

    Follow Joseph on Twitter. Follow me on Twitter.

    Subscribe to find out about future episodes!

    Timestamps

    (0:00:06) - Introduction

    (0:02:53) - How to Define a Better Future?

    (0:09:19) - Utopia

    (0:25:12) - Robin Hanson’s EMs

    (0:27:35) - Human Computational Capacity

    (0:34:15) - FLOPS to Emulate Human Cognition?

    (0:40:15) - Infinite Ethics

    (1:00:51) - SIA vs SSA

    (1:17:53) - Futurism & Unreality

    (1:23:36) - Blogging & Productivity

    (1:28:43) - Book Recommendations

    (1:30:04) - Conclusion

    Please share if you enjoyed this episode! Helps out a ton!


    This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.dwarkesh.com

    Fin Moorhouse - Longtermism, Space, & Entrepreneurship Jul 27, 2022
    Show notes

    Fin Moorhouse is a Research Scholar and assistant to Toby Ord at Oxford University's Future of Humanity Institute. He co-hosts the Hear This Idea podcast, which showcases new thinking in philosophy, the social sciences, and effective altruism.

    We discuss for-profit entrepreneurship for altruism, space governance, morality in the multiverse, podcasting, the long reflection, and the Effective Ideas & EA criticism blog prize.

    Watch on YouTube. Listen on Spotify, Apple Podcasts, etc.

    Episode website + Transcript here.Follow Fin on Twitter. Follow me on Twitter.

    Subscribe to find out about future episodes!

    Timestamps

    (0:00:10) - Introduction

    (0:02:45) - EA Prizes & Criticism

    (0:09:47) - Longtermism

    (0:12:52) - Improving Mental Models

    (0:20:50) - EA & Profit vs Nonprofit Entrepreneurship

    (0:30:46) - Backtesting EA

    (0:35:54) - EA Billionares

    (0:38:32) - EA Decisions & Many Worlds Interpretation

    (0:50:46) - EA Talent Search

    (0:52:38) - EA & Encouraging Youth

    (0:59:17) - Long Reflection

    (1:03:56) - Long Term Coordination

    (1:21:06) - On Podcasting

    (1:23:40) - Audiobooks Imitating Conversation

    (1:27:04) - Underappreciated Podcasting Skills

    (1:38:08) - Space Governance

    (1:42:09) - Space Safety & 1st Principles

    (1:46:44) - Von Neuman Probes

    (1:50:12) - Space Race & First Strike

    (1:51:45) - Space Colonization & AI

    (1:56:36) - Building a Startup

    (1:59:08) - What is EA Underrating?

    (2:10:07) - EA Career Steps

    (2:15:16) - Closing Remarks

    Please share if you enjoyed this episode! Helps out a ton!


    This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.dwarkesh.com

    Alexander Mikaberidze - Napoleon, War, Progress, and Global Order Jul 13, 2022
    Show notes

    Alexander Mikaberidze is Professor of History at Louisiana State University and the author of The Napoleonic Wars: A Global History.

    He explains the global ramifications of the Napoleonic Wars - from India to Egypt to America. He also talks about how Napoleon was the last of the enlightened despots, whether he would have made a good startup founder, how the Napoleonic Wars accelerated the industrial revolution, the roots of the war in Ukraine, and much more!

    Watch on YouTube, or listen on Spotify, Apple Podcasts, or any other podcast platform.

    Episode website + Transcript here. Follow Professor Mikaberidze on Twitter. Follow me on Twitter for updates on future episodes.

    Subscribe to find out about future episodes!

    Timestamps:

    (0:00:00) Alexander Mikaberidze - Professor of history and author of “The Napoleonic Wars”

    (0:01:19) - The allure of Napoleon

    (0:13:48) - The advantages of multiple colonies

    (0:27:33) - The Continental System and the industrial revolution

    (0:34:49) - Napoleon’s legacy.

    (0:50:38) - The impact of Napoleonic Wars

    (1:01:23) - Napoleon as a startup founder

    (1:14:02) The advantages of war and how it shaped international government and to some extent, political structures.

    Please share if you enjoyed this episode! Helps out a ton!


    This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.dwarkesh.com

    Sam Bankman-Fried - Crypto, Altruism, and Leadership Jul 05, 2022
    Show notes

    I flew to the Bahamas to interview Sam Bankman-Fried, the CEO of FTX! He talks about FTX’s plan to infiltrate traditional finance, giving $100m this year to AI + pandemic risk, scaling slowly + hiring A-players, and much more.Watch on YouTube. Listen on Apple Podcasts, Spotify, or any other podcast platform.Episode website + Transcript here.Follow me on Twitter for updates on future episodesSubscribe to find out about future episodes!Timestamps(00:18) - How inefficient is the world?(01:11) - Choosing a career(04:15) - The difficulty of being a founder(06:21) - Is effective altruism too narrowminded?(09:57) - Political giving(12:55) - FTX Future Fund(16:41) - Adverse selection in philanthropy(18:06) - Correlation between different causes(22:15) - Great founders do difficult things(25:51) - Pitcher fatigue and the importance of focus(28:30) - How SBF identifies talent(31:09) - Why scaling too fast kills companies(33:51) - The future of crypto(35:46) - Risk, efficiency, and human discretion in derivatives(41:00) - Jane Street vs FTX(41:56) - Conflict of interest between broker and exchange(42:59) - Bahamas and Charter Cities(43:47) - SBF’s RAM-skewed mindUnfortunately, audio quality abruptly drops from 17:50-19:15TranscriptDwarkesh Patel 0:09Today on The Lunar Science Society Podcast, I have the pleasure of interviewing Sam Bankman-Fried, CEO of FTX. Thanks for coming on The Lunar Society.Sam Bankman-Fried 0:17Thanks for having me.How inefficient is the world?Dwarkesh Patel 0:18Alright, first question. Does the consecutive success of FTX and Alameda suggest to you that the world has all kinds of low-hanging opportunities? Or was that a property of the inefficiencies of crypto markets at one particular point in history?Sam Bankman-Fried 0:31I think it's more of the former, there are just a lot of inefficiencies.Dwarkesh Patel 0:35So then another part of the question is: if you had to restart earning to give again, what are the odds you become a billionaire, but you can't do it in crypto?Sam Bankman-Fried 0:42I think they're pretty decent. A lot of it depends on what I ended up choosing and how aggressive I end up deciding to be. There were a lot of safe and secure career paths before me that definitely would not have ended there. But if I dedicated myself to starting up some businesses, there would have been a pretty decent chance of it.Choosing a careerDwarkesh Patel 1:11So that leads to the next question—which is that you've cited Will MacAskill's lunch with you while you were at MIT as being very important in deciding your career. He suggested you earn-to-give by going to a quant firm like Jane Street. In retrospect, given the success you've had as a founder, was that maybe bad advice? And maybe you should’ve been advised to start a startup or nonprofit?Sam Bankman-Fried 1:31I don't think it was literally the best possible advice because this was in 2012. Starting a crypto exchange then would have been…. I think it was definitely helpful advice. Relative to not having gotten advice at all, I think it helps quite a bit.Dwarkesh Patel 1:50Right. But then there's a broader question: are people like you who could become founders advised to take lower variance, lower risk careers that in, expected value, are less valuable?Sam Bankman-Fried 2:02Yeah, I think that's probably true. I think people are advised too strongly to go down safe career paths. But I think it's worth noting that there's a big difference between what makes sense altruistically and personally for this. To the extent you're just thinking of personal criteria, that's going to argue heavily in favor of a safer career path because you have much more quickly declining marginal utility of money than the world does. So, this kind of path is specifically for altruistically-minded people.The other thing is that when you think about advising people, I think people will often try and reference career advice that others got. “What were some of these outward-facing factors of success that you can see?” But often the answer has something to do with them and their family, friends, or something much more personal. When we talk with people about their careers, personal considerations and the advice of people close to them weigh very heavily on the decisions they end up making.Dwarkesh Patel 3:17I didn't realize that the personal considerations were as important in your case as the advice you got.Sam Bankman-Fried 3:24Oh, I don’t think in my case. But, it is true with many people that I talked to.Dwarkesh Patel 3:29Speaking of declining marginal consumption, I'm wondering if you think the implication of this is that over the long term, all the richest people in the world will be utilitarian philanthropists because they don't have diminishing returns of consumption. They’re risk-neutral.Sam Bankman-Fried 3:40I wouldn't say all will, but I think there probably is something in that direction. People who are looking at how they can help the world are going to end up being disproportionately represented amongst the most and maybe least successful.The difficulty of being a founderDwarkesh Patel 3:54Alright, let’s talk about Effective Altruism. So in your interview with Tyler Cowen, you were asked, “What constrains the number of altruistically minded projects?” And you answered, “Probably someone who can start something.”Now, is this a property of the world in general? Or is this a property of EAs? And if it's about EAs, then is there something about the movement that drives away people who took could take leadership roles?Sam Bankman-Fried 4:15Oh, I think it's just the world in general. Even if you ignore altruistic projects and just look at profit-minded ones, we have lots of ideas for businesses that we think would probably do well, if they were run well, that we'd be excited to fund. And the missing ingredient quite frequently for them is the right person or team to take the lead on it. In general, starting something is brutal. It's brutal being a founder, and it requires a somewhat specific but extensive list of skills. Those things end up making it high in demand.Dwarkesh Patel 4:56What would it take to get more of those kinds of people to go into EA?Sam Bankman-Fried 4:59Part of it is probably just talking with them about, “Have you thought about what you can do for the world? Have you thought about how you can have an impact on the world? Have you thought about how you can maximize your impact on the world?” Many people would be excited about thinking critically and ambitiously about how they can help the world. So I think honestly, just engagement is one piece of this. And then even within people who are altruistically minded and thinking about what it would take for them to be founders, there are still things that you can do.Some of this is about empowering people and some of this is about normalizing the fact that when you start something, it might fail—and that's okay. Most startups and especially very early-stage startups should not be trying to maximize the chances of having at least a little bit of success. But that means you have to be okay with the personal fallout of failing and that we have to build a community that is okay with that. I don't think we have that right now, I think very few communities do.Is effective altruism too narrowminded?Dwarkesh Patel 6:21Now, there are many good objections to utilitarianism, as you know. You said yourself that we don't have a good account of infinite ethics—should we attribute substantial weight to the probability that utilitarianism is wrong? And how do you hedge for this moral uncertainty in your giving?Sam Bankman-Fried 6:35So I don't think it has a super large impact on my giving. Partially, because you'd need to have a concrete proposal for what else you would do that would be different actions-wise—and I don't know that that I've been compelled by many of those. I do think that there are a lot of things we don't understand right now. And one thing that you pointed to is infinite ethics. Another thing is that (I'm not sure this is moral uncertainty, this might be physical uncertainty) there are a lot of sort of chains of reasoning people will go down that are somewhat contingent on our current understanding of the universe—which might not be right. And if you look at expected-value outcomes, might not be right.Say what you will about the size of the universe and what that implies, but some of the same people make arguments based on how big the universe is and also think the simulation hypothesis has decent probability. Very few people chain through, “What would that imply?” I don't think it's clear what any of this implies. If I had to say, “How have these considerations changed my thoughts on what to do?”The honest answer is that they have changed it a little bit. And the direction that they pointed me in is things with moderately more robust impact. And what I mean by that is, I'm sure one way that you can calculate the expected value of an action is, “Here's what's going to happen. Here are the two outcomes, and here are the probabilities of them.” Another thing you can do is say - it's a little bit more hand-wavy - but, “How much better is this going to make the world? How much does it matter if the world is better in generic diffuse ways?” Typically, EA has been pretty skeptical of that second line of reasoning—and I think correctly. When you see that deployed, it's nonsense. Usually, when people are pretty hard to nail down on the specific reasoning of why they think that something might be good, it’s because they haven't thought that hard about it or don't want to think that hard about it. The much better analyzed and vetted pathways are the ones we should be paying attention to.That being said, I do think that sometimes EA gets too narrow-minded and specific about plotting out courses of impact. And this is one of the reasons why that people end up fixating on one particular understanding of the universe, of ethics, of how things are going to progress. But, all of these things have some amount of uncertainty in them. And when you jostle them, some theories of impact behave somewhat robustly and some of them completely fall apart. I’ve become a bit more sympathetic to ones that are a little robust under thoughts about what the world ends up looking like.Political givingDwarkesh Patel 9:57In the May 2022 Oregon Congressional Election, you gave 12 million dollars to Carrick Flynn, whose campaign was ultimately unsuccessful. How have you updated your beliefs about the efficacy of political giving in the aftermath?Sam Bankman-Fried 10:12It was the first time that I gave on that scale in a race. And I did it because he was, of all the candidates in the cycle, the most outspoken on the need for more pandemic preparedness and prevention. He lost—such is life. In the end, there are some updates on the efficacy of various things. But, I never thought that the odds were extremely high that he was going to win. It was always going to be an uncertain close race. There's a limit to how much you can update from a one-time occurrence. If you thought the odds were 50-50, and it turns out to be close in one direction or another, there's a maximum of a factor-of-two update that you have on that. There were a bunch of sort of micro-updates on specific factors of the race, but on a high level, it didn’t change my perspective on policy that much.Dwarkesh Patel 11:23But does it make you think there are diminishing or possibly negative marginal returns from one donor giving to a candidate? Because of the negative PR?Sam Bankman-Fried 11:30At some point, I think that's probably true.Dwarkesh Patel 11:33Continuing on the theme of politics, when is it more effective to give the marginal million dollars to a political campaign or institution to make some change at the government level (like putting in early detection)? Or when is it more effective to fund it yourself?Sam Bankman-Fried 11:47It's a good question. It's not necessarily mutually exclusive. One thing worth looking at is the scale of the things that need to happen. How much are things like international cooperation important for it? When you look at pandemic prevention, we're talking tens of billions of dollars of scale necessary to start putting this infrastructure in place. So it's a pretty big scale thing—which is hard to fund to that level individually. It’s also something where we’re going to need to have cooperation between different countries on, for example, what their surveillance for new pathogens looks like. And vaccine distribution If some countries have a great distribution of vaccines and others don't, that's not good. It's both not fair and not equitable for the countries that get hit hardest. But also, in a global pandemic, it's going to spread. You need global coverage. That's another reason that government has to be involved, at least to some extent, in the efforts.FTX Future FundDwarkesh Patel 12:55Let's talk about Future Fund. As you know, there are already many existing Effective Altruist organizations that do donations. What is the reason you thought there was more value in creating a new one? What's your edge?Sam Bankman-Fried 13:06 There's value in having multiple organizations. Every organization has its blind spots, and you can help cover those up if you have a few. If OpenPhil didn't exist, maybe we would have created an organization that looks more like OpenPhil. They are covering a lot of what we’re looking at—we're looking at overlapping, but not identical things. I think having that diversity can be valuable, but pointing to the ways in which we intentionally designed to be a little bit different from existing donors:One thing that I've been really happy about is the re-granting program. We have a number of people who are experts in various areas to who we've basically donated pots that they can re-grant. What are the reasons that we think this is valuable? One thing is giving more stakeholders a chance to voice their opinions because we can't possibly be listening to everyone in the world directly and integrating all those opinions to come up with a perfect set of answers. Distributing it and letting them act semi-autonomously can help with that. The other thing is that it helps with a large number of smaller grants. When you think about what an organization giving away $100 million in a year is thinking about, “if we divided that up into $25,000 grants, how many grants would that mean?” 4,000 grants to analyze, right? If we want to give real thought to each one of those, we can't do that.But on the flip side, sometimes the smaller grants are the most impactful per dollar and there are a lot of cases where someone really impressive has an exciting idea for a new foundation or a new organization that could do a lot of good for the world and needs $25,000 to get started. To rent out a small office, to be able to cover salaries for two employees for the first six months. Those are the kind of cases where a pretty small grant can make a huge change in the development of what might ultimately become a really impactful organization. But they're the kind of things that are really hard for our team to evaluate all of, just given the number of them—but the re-grantor program gives us a way to do that. Instead, we have 10, 50, or 100 re-grantors, who are going out and finding a lot of those opportunities close to them, they can then identify those and direct those grants—and it gives us a much wider reach. It also biases it less towards people who we happen to know, which is good.We don't want to just like overfund everyone w…

    Full show notes at the publisher

    Agustin Lebron - Trading, Crypto, and Adverse Selection Jun 23, 2022
    Show notes

    Agustin Lebron began his career as a trader and researcher at Jane Street Capital, one of the largest market-making firms in the world. He currently runs the consulting firm Essilen Research, where he is dedicated to helping clients integrate modern decision-making approaches in their business.

    We discuss how AI will change finance, why adverse selection makes trading and hiring so difficult, & what the future of crypto holds.

    Watch on YouTube, or listen on Spotify, Apple Podcasts, or any other podcast platform.

    Episode website here.

    Buy The Laws of Trading.

    Follow Agustin on Twitter. Follow me on Twitter for updates on future episodes.

    Subscribe to find out about future episodes!

    Timestamps:

    (00:00) - Introduction

    (04:18) - What happens in adverse selection?

    (09:22) - Why is having domain expertise in trading not important?

    (15:09) - How do you deal when you're on the other side of the adverse selection?

    (21:16) - Why you should invest in training your people?

    (25:37) - Is finance too big at 9% of GDP?

    (31:06) - Trading is very labor intensive

    (36:16) - Overlap of rationality community and trading

    (48:00) - The age of startup founders

    (50:43) - The role of market makers in crypto

    (57:31) - Three books that you recommend

    (58:47) - Life is long, not short

    (1:03:01) - Short history of Lunar Society

    Please share if you enjoyed this episode! Helps out a ton!


    This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.dwarkesh.com

    Ananyo Bhattacharya - John von Neumann, Jewish Genius, and Nuclear War May 11, 2022
    Show notes

    Ananyo Bhattacharya is the author of The Man from the Future: The Visionary Life of John von Neumann. He is a science writer who has worked at the Economist and Nature. Before journalism, he was a medical researcher at the Burnham Institute in San Diego, California. He holds a degree in physics from the University of Oxford and a PhD in protein crystallography from Imperial College London.

    Watch on YouTube. Listen on Apple Podcasts, Spotify, or any other podcast platform.

    Episode website here.
    Follow Ananyo on Twitter. Follow me on Twitter for updates on future episodes.

    Timestamps:

    (0:00:30) - John Von Neumann - The Man From The Future

    (0:02:29) - The Forgotten Father of Game Theory

    (0:16:04) - The last representative of the great mathematicians

    (0:19:45) - Did John Von Neumann have a Miracle year?

    (0:26:31) - The fundamental theorem of John von Neumann’s game theory

    (0:29:34) - The strong supporter of "Preventive War”

    (0:50:51) - We can't all be superhuman


    This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.dwarkesh.com

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