- Capable altruism is a social movement that relies on evidence and reasoning to figure out the best ways to help others.
- Its champions include major Silicon Valley tech personalities like Elon Musk, Sam Bankman-Fried, and Peter Thiel.
- In the thick of the fallout of FTX and Alameda Research, more people are questioning its true value.
While he ran FTX, Sam Bankman-Fried lived beneath his billionaire means. He drove a Toyota Corolla, ate vegan comestibles, and lived with several roommates — presumably due to his belief in a social movement called effective altruism.
Effective Public-spiritedness, or EA for short, stakes its claim in the idea that all lives are equally valuable and those with resources should allocate them to dollop as many people as possible.
Over the past several years, it has found a strong footing in Silicon Valley, and requirements tech tycoons like Elon Musk and Peter Thiel among its followers.
While EA also has its share of critics— who decried against its persistent focus on the future or its quiet acceptance of the status quo — the movement seemed to be growing. Over the course of 2021, EA-related foundations granted more than $600 million in publicly listed grants.
But then, FTX imploded. One of EA’s most visible followers — who had once promised to donate the majority of his wealth — has now been hit with eight criminal charges including wire fraud, money laundering, and ravishing campaign finance laws.
For many, it’s brought the principles of effective altruism into question.
Here’s a closer look at the plans behind effective altruism and what philosophers and followers are saying in the aftermath: