EA has a few branches of thought. One of them is "I am going to donate $X to charity each year. How do I maximize the good this brings to the world?" This group is sometimes less effective than they'd like to think, but there's no moral problem with it.

Another branch is "I make lots of money at a job that's probably making the world a worse place. How do I reframe this to not feel like a bad person?" They do some math and conclude that it's net more good for them to earn a bunch of money and donate some of it than it is to volunteer or it is to work at a job that isn't making the world a worse place. This is an awfully convenient conclusion as it means that all they have to do is pay a tithe and make no real changes to their life.

The notion of making money specifically for the sake of funding good things isn't a completely terrible one, but a vocal portion of the people who espouse it are very obviously not primarily motivated by maximizing the good they do.

> why does involvement with EA imply being ethically challenged?

Because almost everyone prominent in the movement has had some combination of lack of judgment and morals. There various terms for rationally pursuing philanthropy; associating with effective altruism involves embracing its ideas, people and culture.

As per the article, he formed a trading company without any background in investing, and once his investments tanked, he sold the stocks for pennies on the dollar to a financial firm, leaving investors holding the bag while pocketing trading fees associated with a $45B USD portfolio.

Effective Altruism is one of those things that sounds smart on the surface, but in practice is a yellow flag. The fact that he started the club is a red flag.

In short, Effective Altruism says you don't engage in charity until you have sufficient means to actually make a difference. Basically, you leverage capitalism to accumulate enough wealth to actually be able to solve a big problem, then you go all in on solving that problem. Sounds great right?

In the real world these people never accumulate enough wealth to actually start solving problems. Even when they become billionaires. In practice it is a convenient excuse to act like the most depraved capitalist while still pretending to sit on the high horse and talk down to people who simply try to help with the means available to them.