EA capital allocation is an inner ring

By Milan_Griffes @ 2021-03-19T04:06 (–57)

November 2022 update: I wrote this post during a difficult period in my life. I still agree with the basic point I was gesturing towards, but regret some of the presentation decisions I made. I may make another attempt in the future. 

"Ayn Rand is the only writer I've seen get both these points right jointly:

1. There's no benefit to joining the inner ring except discovering that their insinuated benefit does not exist.
2. Ignoring inner rings is refusing to protect oneself against a dangerous adversary."

– Ben Hoffman, Inner Ring as Adversary (a)

Previously: 0, 0.5, 0.75, 1, 2, 3, 4

My request from the beginning still stands.

In 1944, just as Britain was starting to realize that it was probably going to pull through the war after all, C. S. Lewis, Grand Master of Clear Discourse, British Propriety & Penetrating Insight, delivered a powerful talk at King’s College to a group of future UK elites. He called this talk The Inner Ring (a). 

I recommend reading the whole thing... as spaciously as you can. 

From the beginning: 

When you invite a middle-aged moralist to address you, I suppose I must conclude, however unlikely the conclusion seems, that you have a taste for middle-aged moralising. I shall do my best to gratify it. I shall in fact, give you advice about the world in which you are going to live. I do not mean by this that I am going to talk on what are called current affairs. You probably know quite as much about them as I do. I am not going to tell you – except in a form so general that you will hardly recognise it – what part you ought to play in post-war reconstruction.

It is not, in fact, very likely that any of you will be able, in the next ten years, to make any direct contribution to the peace or prosperity of Europe. You will be busy finding jobs, getting married, acquiring facts. I am going to do something more old-fashioned than you perhaps expected. I am going to give advice. I am going to issue warnings. Advice and warnings about things which are so perennial that no one calls them “current affairs.”

From a bit later on:

All this is rather obvious. I wonder whether you will say the same of my next step, which is this. I believe that in all men’s lives at certain periods, and in many men’s lives at all periods between infancy and extreme old age, one of the most dominant elements is the desire to be inside the local Ring and the terror of being left outside. This desire, in one of its forms, has indeed had ample justice done to it in literature. I mean, in the form of snobbery. Victorian fiction is full of characters who are hag-ridden by the desire to get inside that particular Ring which is, or was, called Society. But it must be clearly understood that “Society,” in that sense of the word, is merely one of a hundred Rings, and snobbery therefore only one form of the longing to be inside.

People who believe themselves to be free, and indeed are free, from snobbery, and who read satires on snobbery with tranquil superiority, may be devoured by the desire in another form. It may be the very intensity of their desire to enter some quite different Ring which renders them immune from all the allurements of high life. An invitation from a duchess would be very cold comfort to a man smarting under the sense of exclusion from some artistic or communistic côterie. Poor man – it is not large, lighted rooms, or champagne, or even scandals about peers and Cabinet Ministers that he wants: it is the sacred little attic or studio, the heads bent together, the fog of tobacco smoke, and the delicious knowledge that we – we four or five all huddled beside this stove – are the people who know.

Often the desire conceals itself so well that we hardly recognize the pleasures of fruition. Men tell not only their wives but themselves that it is a hardship to stay late at the office or the school on some bit of important extra work which they have been let in for because they and So-and-so and the two others are the only people left in the place who really know how things are run. But it is not quite true. It is a terrible bore, of course, when old Fatty Smithson draws you aside and whispers, “Look here, we’ve got to get you in on this examination somehow” or “Charles and I saw at once that you’ve got to be on this committee.” A terrible bore… ah, but how much more terrible if you were left out! It is tiring and unhealthy to lose your Saturday afternoons: but to have them free because you don’t matter, that is much worse.

Freud would say, no doubt, that the whole thing is a subterfuge of the sexual impulse. I wonder whether the shoe is not sometimes on the other foot. I wonder whether, in ages of promiscuity, many a virginity has not been lost less in obedience to Venus than in obedience to the lure of the caucus. For of course, when promiscuity is the fashion, the chaste are outsiders. They are ignorant of something that other people know. They are uninitiated. And as for lighter matters, the number of people who first smoked or first got drunk for a similar reason is probably very large.

I don't have space today to work out how to articulate the particulars of how this dynamic functions within EA and Bay Area Rationality, so for now that will have to be left as an exercise to the reader...