Oh good, so the taxpayers will be on the hook both for the collapse of the financial markets and now the government too when AI shits the bed.
They should let these clowns fall on their faces and not subsidize them.
We all knew it was coming, it was just a question of how.
Fuck this
And then there’s these gullible rubes: https://www.humansfirst.com/
lol Bernie was talking about 50% and their counter is apparently 5%. What’s say we meet in the middle with… oh, 55%? (math by ChatGPT)
It’s a bad investment. Not an investment at all. Wait until they shit the bed, destroy the economy, and seizse the assets.
There is no “investing”, they stole the IP so they owe the People a 50% stake. If the whole company is only worth $100 in a year then the American people will get to split the last $50 amongst ourselves, not be on the hook for bailing out yet another failure.
My question is if there’s a stake to be had in the first place. We can’t keep absorbing their failures like we did X and xAI through the SpaceX Nasdaq scam. We need a stake without assuming the risks. The public already had the IP and are under no obligation to accept risks assumed by a bunch of entitled rich guys.
I guess “stake” is only meaningful when it’s defined as profits and not losses, since the public never agreed to the risks of potential losses and the billionaires are just stealing IP.
IDK what exactly you’re not understanding but I suspect it’s the difference between a gift and a purchase. The US will not be purchasing this 50% stake in OpenAI with additional money. It will be free. It was technically paid for with all the (not public) IP they used to create these models in the first place.
When you get something in return for nothing, that something is always a positive value even if it’s just a fraction of what it started as.
Bernie talking about that is interesting context but I wouldn’t expect the Trump admin to do anything similar to what he wanted with this anyway. 50% would be a terrible thing if it meant these goons get control…
Privatize profits, nationalize debt.
AKA “We don’t want to be stuck holding the bag”
Yeah, I can’t wait until I have to foot the bill for another (completely predictable and avoidable) bail out.
Not really passing the bag when you give it away. If they were selling it to the gov, then sure.
How does that make a difference?
If the US government owns part of it when the bubble pops, then they’ll say they need to be bailed out. Why does it matter how they got it?
5% of a negative number is negative
Stocks cannot be negative. I get the hate surrounding AI companies, but the resistance to this idea makes no sense to me.
In my opinion the number should be closer to 50% instead of 5% - but in both cases if AI companies are the biggest bubble in the world and go bankrupt then the government is left with a $0 value stock they didn’t give any money for…
If ai companies don’t go bankrupt then any returns they do generate go to the government which can be used to provide public services and offset the average Americans tax bill, thus passing any potential gains from ai to the people who generated the training data for them in the first place.
There are no gains. Ownership equates to subsidies. Why are you taking the value of the stock as an asset? If you aren’t going to flip it on the open market which the government 100% is not then it doesn’t matter what the price is. Uncle Sam doesn’t need a fucking HLOC
I just don’t think governments should be in the business of burning down our planet just to make it easier for some techbros to not do their own work.
Engineering their bailout in advance.
Have some… For free… You’ll like it.
The people: we want more socialized policies and government controls over big tech.
Govt: We are turning the US Government into a tech company
The people: No, not like that.
Where is the NYT economists telling us what a great idea this is?
They’re currently taking bids to see whose side they’re on.
Bribing in advance. Professional right there.
