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Only if you believe that market economies are always efficient.

Plenty of things have a huge impact on your life and yet nobody wants to pay for them. They're important, but they're not important. If you have an endowment, you don't have to keep wrestling with keeping the two in sync.

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I think our perspectives are different because I'm thinking about what the board of Wikimedia might look like later: when it controls a bunch of money but is essentially dying as a service.

I imagine a political mess, of people trying to extract personal benefit from the remaining endowment.

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