“Effective Altruism” is the name of a very specific ideology. Many proponents of that ideology support “longtermism” and therefore spend money on things they claim or believe will prevent huge disasters in the future. So, many spend insane amounts on space colonisation / rockets, in the AI bubble etc. Anything really as long as it doesn’t really help anyone. The ideology is often the patchwork to rationalise why that is actually to the greater good or something.