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whpearson comments on Project Ideas for the London Hackday - Less Wrong Discussion
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I will vote up suggestions that estimate some utility function value for the proposed projects.
E.g. Lives saved per programmer hour or 10 -9 percentage points chance increase of a positive singularity .
Your reasoning can be indirect, e.g. a simple successful project will encourage future hackdays that can potentially reduce the chance of X existential risk by 0.01%.