80k supporter update - back on track

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Benjamin Todd

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Oct 20, 2017, 8:58:47 PM10/20/17
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Hi everyone,


Here’s our update for the last 4 weeks.


Summary metrics


Cash reserves/£ (approx, end June-17)

1,404,556

Costs last month/£ (approx, end June-17)

40,695

Cash reserves divided by spending last month

35

Months’ runway (rough estimate based on expansion budget, including commitments to donate, end June-17)

15

# of salaried employees (excluding freelancers)

7.1

Morale (on a scale of 1-10, full-time staff average)

8.8



Primary growth metric

“Value 10” plan changes



Period

Month on month (using 3 month average)

Monthly compound rate

Over 1 month (end Sept-17)

6%


Over 6 months

1800%

63%

Over 1 year

850%

21%

Over 2 years

1800%

13%

Over 3 years

950%

7%




Monthly growth chart - new “value 10” plan changes per month




Progress in 2 sentences

We’re back on track to make our targets for the bout.


-----------------------Full update -----------------------


Weekly targets - value 10 plan changes


We’re back ahead of our targets, thanks to the efforts of the coaching team.





Value 10 plan changes

New 10s

Running total in 2017

Target

Difference

8wk MA

Week ending 8 Oct

3

32

30.4

1.6

1.4

Week ending 1 Oct

4

29

29.2

-0.2

1

Week ending 24 Sep

0

25

28.0

-3.0

0.6


Last week, one of the plan changes includes a new full-time hire at a key EA org who found out about the role through our headhunting experiment. Another was top of their year in philosophy at Cambridge, found out about AI risk from 80k, and is now planning to do a compsci PhD rather than a philosophy PhD in order to work on AI safety. The third was a doctor who has switched towards a focus on biosecurity due to us, and is now pursuing a PhD in the area.


Lead metric targets


Unfortunately, we’re behind on our lead metric targets.


  • Our coaching backlog is only 1 week rather than our target of 2. We’re about to launch a referral system, however, which we expect to fix this.

  • We’ve only published 9 pieces of content this bout compared to our target of 10 (partly because one team member got sick for two weeks). We expect to be able to catch up in the next two or three weeks though.

  • The new content hasn’t been attracting as many coaching leads as we were hoping. We’re concerned we might have used up low hanging fruit with our initial promotion - but want to gather some more data and do more analysis before we change course. It’s hard to tell since the distribution is fat-tailed, and the content pays off over several years.


Lead metric scoreboard

Week ending 15 Oct

Target

Difference

Tier 1 coaching backlog (in weeks)

1

2

-1.0

Hours spent coaching

11.5

25

-14

New significant content releases running total

9

10.1

-1.1

New tier 1s coaching leads per content release within a month

2

4

-2.0



Recent content releases:




Other key progress


  • Hiring

    • Started a trial with a specialist focused on AI policy, to do coaching, research and headhunting in the area.

    • Started a trial with a research and editing freelancer.

    • Confirmed a visit from another potential hire in Nov.

  • We attended EAGx Australia, where we gave 3 new talks (which are being turned into articles), spent two days coaching and spend a day with the local committee.

  • We attended a meeting in HK of EAs who are interested in China, to figure out plans.




The plan


The next few weeks, we’ll keep focusing on (i) releasing more content about priority paths (ii) coaching people who want to work on our priority paths. The aim is to make our targets for the end of the bout in early Nov. Three of us will also attend EAG London in early Nov.


Have a great week,


Ben



--

Benjamin Todd | CEO & co-founder  | 80,000 Hours
www.80000hours.org    |    b...@80000hours.org

80,000 Hours is part of the Centre for Effective Altruism, a registered charity in England and Wales, Registered Charity Number 1149828
Centre for Effective Altruism, Oxford Uehiro Centre for Practical Ethics, Littlegate House, St Ebbes Street, Oxford OX1 1PT, UK

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