Jack comments on The Craigslist Revolution: a real-world application of torture vs. dust specks OR How I learned to stop worrying and create one billion dollars out of nothing - Less Wrong
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The problem is not finding an effective, productive, and reputable charity. There are plenty out there (even if a majority are not). It's finding a charity than can effectively and productively use an extra billion dollars. Many charities don't have the oversight and planning infrastructure to use a windfall of that size.
There is an obvious solution to this: fund multiple charities.