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Jordan comments on Hedging our Bets: The Case for Pursuing Whole Brain Emulation to Safeguard Humanity's Future - Less Wrong
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This doesn't follow. It's not clear at all that there is sufficient investment in WBE that substantial diminishing returns have kicked in at the margins.
I didn't say money spent on WBE research suffered from diminishing returns. I said that $X spent on FAI research probably has more benefit than $X spent on WBE research.
This is because the amount of money spent on WBE is much much greater than that spent on FAI. The Blue Brain Project has funding from Switzerland, Spain, and IBM among others. Just that one project probably has an order of magnitude more money than the whole FAI field. Unless you think WBE offers an order of magnitude greater benefit than FAI, you should favor spending more on FAI.
No, all that matters is that the increase in utility by increasing WBE funding is greater than an increase in utility by increasing FAI funding. If neither has hit diminishing returns then the amount of current funding is irrelevant to this calculation.