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Stuart_Armstrong comments on In conclusion: in the land beyond money pumps lie extreme events - Less Wrong
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No, if utility is a step function of money, Pavitra's reasoning agrees with expected utility.
Does the SIAI really have an approach to fundraising that's better than lotteries? What is it then?
And if there were only two steps...
Right. The assumption is that the final outcome is pass/fail -- either you get enough money and the Singularity is Friendly, or you don't and we all die (hopefully).