This Bill Would Give the American People, Not Oligarchs, Control Over the Future of AI WASHINGTON, June 18 — Sen. Bernie Sanders (I-Vt.) today introduced the American AI Sovereign Wealth Fund Act to give the public a 50% ownership in the largest artificial intelligence (AI) companies in our country. “Left unchecked, Artificial Intelligence and robotics […]
He wants to take 7 trillion dollars from AI companies. That’s what a sovereign wealth fund is, it’s when you take profits from a source, and store it to use on things like health care, wellfare, pensions, public transport, housing, infrastructure, ect.
The page says it’s a one-time tax… so which AI companies have that?
I would like to know how much would actually be in that fun right away rather than what it could maybe be. Valuations are skewed. We know this. Just look at WeWork.
He’s calling for a group under the current US president to have 50% of the stock of the AI companies… And only the AI (read: no-path-to-profit) part of those companies.
Yes, that’s how national organizations work. It’s not like some random VC firm that privately owns the stock. It’d be owned by the nation, and the directors would be required to pay dividends to the public on those profits.
Is it normal to exclude the profitable part of the company?
I am very worried about this because AI lobbyists have done a great job of pushing politicians around. Bernie Sanders himself has accepted Eli Yudkowski, an AI doom cult leader, as a reputable source.
Yes, and if they do go up, that would actually benefit the citizens, because they are publicly owned. I’m not sure why this is hard to understand? The only difference is that it’s not owned by tech oligarchs.
Profit motives tend to do bad things. Like the poison emissions caused by Grok data centers. Like the 2000 missiles launched with it too - remember those?
Why do you want the Trump administration to help Elon Musk make more profit all of a sudden?
man, bernie needs to hang it up, he’s drinking the kool aid
He wants to take 7 trillion dollars from AI companies. That’s what a sovereign wealth fund is, it’s when you take profits from a source, and store it to use on things like health care, wellfare, pensions, public transport, housing, infrastructure, ect.
Lol, good one, who actually thinks AI companies are profitable?
The page says it’s a one-time tax… so which AI companies have that?
I would like to know how much would actually be in that fun right away rather than what it could maybe be. Valuations are skewed. We know this. Just look at WeWork.
He’s calling to tax 50% of all the company shares in AI, making it a public benefit.
He’s calling for a group under the current US president to have 50% of the stock of the AI companies… And only the AI (read: no-path-to-profit) part of those companies.
Yes, that’s how national organizations work. It’s not like some random VC firm that privately owns the stock. It’d be owned by the nation, and the directors would be required to pay dividends to the public on those profits.
This is basic sovereign wealth fund stuff.
Is it normal to exclude the profitable part of the company?
I am very worried about this because AI lobbyists have done a great job of pushing politicians around. Bernie Sanders himself has accepted Eli Yudkowski, an AI doom cult leader, as a reputable source.
Oh no doubt, the industry is very, very sick. Incestuous even.
In the other hand, there’s very little downside to a 50% tax on all AI companies. It’s not an investment so there’s no chance of losing your nest egg.
A 50% government ownership in only the AI portion of company shares, you mean?
Wouldn’t the Trump administration then have an interest in making the share value go up for those companies?
Yes, and if they do go up, that would actually benefit the citizens, because they are publicly owned. I’m not sure why this is hard to understand? The only difference is that it’s not owned by tech oligarchs.
Profit motives tend to do bad things. Like the poison emissions caused by Grok data centers. Like the 2000 missiles launched with it too - remember those?
Why do you want the Trump administration to help Elon Musk make more profit all of a sudden?
Why are you painting that as a good thing?
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