I think this is roughly what happened when FTX was spending a huge amount of money before it all collapsed and a lot of people started new projects under pretty dubious premises to look appealing to them. I also think this is still happening quite a lot around OpenPhil, with a lot of quite bad research being produced, and a lot of people digging themselves into holes (and also trying to enforce various norms that don’t really make sense, but where they think if they enforce it, they are more likely to get money, which does unfortunately work).
I think this is roughly what happened when FTX was spending a huge amount of money before it all collapsed and a lot of people started new projects under pretty dubious premises to look appealing to them. I also think this is still happening quite a lot around OpenPhil, with a lot of quite bad research being produced, and a lot of people digging themselves into holes (and also trying to enforce various norms that don’t really make sense, but where they think if they enforce it, they are more likely to get money, which does unfortunately work).