Austin & Oli on funding and incubating projects

Watch along here:I've transcribed the full conversation at https://peruse.sh/ep/austin-chen-and-oliver-habryka-on-funding-incubating-project. (Beware: the AI makes notable edits for readability, sometimes distorting what the speaker meant. If specific phrasing is cruxy, listen to the audio.)Selected quotesThe cursed game of philanthropyOli: "Philanthropy is one of the most cursed games in existence... The default outcome of what happens when rich people try to do philanthropy is that they think about starting a foundation, they imagine hiring someone on the market and ask themselves: who am I going to show up and feel comfortable trusting most of my net worth to? That doesn't make any sense.And so what they often end up doing is making a family office. The only way to solve this principal-agent problem is to choose someone where you have a very strong pre-existing relationship — someone you know isn't going to try to extract as much money as possible, or even just extract 5% of your money, which will turn out to be many millions of dollars. That trust bottleneck is just very intense."Thoughts on specific funders: SFF, CG, LongviewOli: "I'm thinking it would be good for there to be some kind of funding system that people can distribute money through that requires less trust, is less bottlenecked on building your own foundation, and has access to a substantial amount of deal flow.I historically built the S-process and collaborated a lot with SFF in building that. I'm generally very proud of the work we did. But my current best guess is that SFF has been risk averse and