Milestones are set. If they are met, funding is unlocked at pre-negotiated levels, locked in for both sides in advance.
It seems to me like the pressure to Goodhart are higher when you agree to be only funded by a single entity with specific pre-negotiated milestones then if you are in a state where you are going to seek capital from a bunch of people with at least slightly different evaluation criteria.
Yes, I don’t see how it changes the fact that this setup causes stronger incentives to Goodhart the milestones given that they decide about whether the companies dies or can continue to function.
It seems to me like the pressure to Goodhart are higher when you agree to be only funded by a single entity with specific pre-negotiated milestones then if you are in a state where you are going to seek capital from a bunch of people with at least slightly different evaluation criteria.
Goodheart applies to any use of an alignment indicator, not just funding.
Yes, I don’t see how it changes the fact that this setup causes stronger incentives to Goodhart the milestones given that they decide about whether the companies dies or can continue to function.