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AKA "too big to fail". The interests of major and early AI capital owners will be prioritized over those of the later capital and non-capital-owning public.
by danans 11mo ago
AKA "too big to fail". The interests of major and early AI capital owners will be prioritized over those of the later capital and non-capital-owning public.
- criddell 11mo agoThings that are too big to fail can end up being nationalized when they do fail. That might not be a bad outcome. I could see US-built AI being a national security concern.
- danans 11mo ago> Things that are too big to fail can end up being nationalized when they do fail. And if that happens, will the taxpayer be on the hook to make investors whole? We shouldn't. If it is nationalized, it needs to be done at a small fraction of the private investment.
- criddell 11mo agoWhen the government takes your property with eminent domain, they don't give you what you've put into it or what you owe, they give you the market value for the property. If one or more of the AI companies fail, the government would pay what they feel is the market value for the graphics cards, warehouses, and standing desks and it will surely be way less than what the investors have put in.
- red-iron-pine 11mo agothat would be a bad outcome. why is the public responsible for the bubble chasing idiocy of evil megacorps? they failed to grow their capital and they can hold the bag