Patrick Collison on Fast Grants, R&D funding and effective altruism
Jun 19, 2020
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Patrick Collison, Co-founder of Stripe, discusses the creation and impact of Fast Grants for COVID-19 research, the effective altruism movement, and balancing self-perception and continuous learning for teenagers. They also explore the feasibility of large-scale projects to tackle global challenges and the importance of studying liberal arts in technology education.
Stripe aims to simplify international money transfers with a programmable system for global financial transactions.
FAST Grants responds to urgent funding needs by streamlining grant processes for crucial research projects.
Deep dives
The Role of Stripe in Global Transactions
Stripe initially began as an online payment system. However, in its evolution over the last 10 years, it has expanded to offer a comprehensive platform for processing global financial transactions. The company's vision includes the development of a programmable system for seamlessly moving money internationally. With millions of customers worldwide and a nominal valuation of $36 billion, Stripe aims to serve as a catalyst for economic activity and growth by simplifying and enhancing the movement of funds.
FAST Grants: A Response to COVID-19 Research Needs
FAST Grants emerged as a solution to the slow response of traditional scientific grant-making entities like the NIH and NSF in the face of the COVID-19 pandemic. Recognizing the urgency of the situation, Fast Grants aimed to streamline the funding process to accelerate crucial research efforts. Within a short period, it distributed grants to top scientists and researchers, supporting promising drug and vaccine candidates. The initiative highlighted the importance of agile and swift responses in times of crisis.
Balancing Innovation and Risk in Technology Progress
The conversation shed light on the delicate balance between progress, innovation, and the associated risks, particularly in the context of technological advancements. While the potential of exponential technological growth raises concerns about existential risks, the discussion emphasized the need for strategic mitigation strategies. The debate around potential risks versus benefits underscores the importance of thoughtful progression in technology and the implications for society at large.
Embracing Fallibilism and Optimism in Progress
The podcast delved into the speaker's perspective on fallibilism and optimism in the context of progress. Embracing fallibilism involves acknowledging the constant potential for improvement and refining of knowledge and understanding. The speaker stressed the importance of adopting an optimistic outlook, viewing challenges as opportunities for growth and advancement. By combining a mindset of continuous learning and a positive approach to problem-solving, individuals can navigate the complexities of progress with resilience and adaptability.