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AI Billionaires Want You to Save Them When They Need a Bailout By Jim Hightower [View all]
Step right up, folks! Please don't crowd! No need to shove, plenty here for everyone!
Welcome to the Bonanza Extravaganza of the Artificial Intelligence (AI) "BOOM." Silicon Valley billionaires are now proposing a scheme to deliver an unbelievable windfall to "every citizen." Tech titans like Sam Altman of OpenAI are pushing the federal government to create a "public wealth fund" to let us commoners be investment partners in building the AI wonderworld.
Lest you worry that this might be a corporate scam, note that President Donald Trump, the deal-maker-in-chief, exults that letting the American public buy into the tech booms is a sure bet to "make them rich." And Altman adds that a public investment fund would allow Joe and Jill Schmo to "participate directly in the upside of AI-driven growth."
Wow — benevolent capitalism!
But wait — aren't AI barons infamous greedheads who constantly rig the system for themselves, sneer at the public and openly disdain government programs? Well ... yes.
And wait again — they say we would "share in the upside" of AI, but what about the downside? Far from profitable, all of the industry's powerhouses, including OpenAI, are losing hundreds of billions of dollars while carelessly adding trillions in new debt and — shhhh — quietly admitting that their razzle-dazzle computer fantasies might not work.
Welcome to the Bonanza Extravaganza of the Artificial Intelligence (AI) "BOOM." Silicon Valley billionaires are now proposing a scheme to deliver an unbelievable windfall to "every citizen." Tech titans like Sam Altman of OpenAI are pushing the federal government to create a "public wealth fund" to let us commoners be investment partners in building the AI wonderworld.
Lest you worry that this might be a corporate scam, note that President Donald Trump, the deal-maker-in-chief, exults that letting the American public buy into the tech booms is a sure bet to "make them rich." And Altman adds that a public investment fund would allow Joe and Jill Schmo to "participate directly in the upside of AI-driven growth."
Wow — benevolent capitalism!
But wait — aren't AI barons infamous greedheads who constantly rig the system for themselves, sneer at the public and openly disdain government programs? Well ... yes.
And wait again — they say we would "share in the upside" of AI, but what about the downside? Far from profitable, all of the industry's powerhouses, including OpenAI, are losing hundreds of billions of dollars while carelessly adding trillions in new debt and — shhhh — quietly admitting that their razzle-dazzle computer fantasies might not work.
https://www.creators.com/read/jim-hightower
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