The Open Philanthropy Project recently bought a seat on the board of the billion-dollar nonprofit AI research organization OpenAI for $30 million. Some people have said that this was surprisingly cheap, because the price in dollars was such a low share of OpenAI's eventual endowment: 3%.
To the contrary, this seat on OpenAI's board is very expensive, not because the nominal price is high, but precisely because it is so low.
If OpenAI hasn’t extracted a meaningful-to-it amount of money, then it follows that it is getting something other than money out of the deal. The obvious thing it is getting is buy-in for OpenAI as an AI safety and capacity venture. In exchange for a board seat, the Open Philanthropy Project is aligning itself socially with OpenAI, by taking the position of a material supporter of the project. The important thing is mutual validation, and a nominal donation just large enough to neg the other AI safety organizations supported by the Open Philanthropy Project is simply a customary part of the ritual.
By my count, the grant is larger than all the Open Philanthropy Project's other AI safety grants combined.
(Cross-posted at my personal blog.)
Holden spent a lot of effort stating reasons in http://lesswrong.com/lw/cbs/thoughts_on_the_singularity_institute_si/
"We think MIRI is literally useless" is a decent reason not to fund MIRI at all, and is broadly consistent with Holden's early thoughts on the matter. But it's a weird reason to give MIRI $500K but OpenAI $30M. It's possible that no one has the capacity to do direct work on the long-run AI alignment problem right now. In that case, backwards-chaining to how to build the capacity seems really important.