Going Infinite: The Rise and Fall of a New Tycoon

Sam Bankman-Fried was deeply affected by the philosophy of effective altruism (EA), and, in hiring employees for his companies, he drew heavily from a pool of effective altruists. EA is a rapidly growing social and philosophical movement that aims to use reason and evidence-based decision-making to maximize the positive impact of one’s efforts and resources in helping others. This movement is characterized by a commitment to rationality, efficiency, and a broad perspective in addressing various global challenges, including poverty, health, education, and existential risks.

Effective altruism traces its roots to the mid-20th century, when philosophers like Peter Singer began to challenge traditional notions of charitable giving. Singer’s influential 1972 essay “Famine, Affluence, and Morality” argued that individuals living in affluent societies have a moral obligation to help those in need, even if it requires substantial sacrifices on their part. Singer’s work laid the foundation for the modern EA movement by emphasizing the importance of using reason and evidence to determine how to help others most effectively.

EA has since gained momentum, largely fueled by the work of other philosophers, economists, and scientists who have advanced the principles of rational philanthropy. One of the central tenets of effective altruism is a commitment to doing the most good, rather than simply doing what feels good, with one’s charitable actions.