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- cross-posted to:
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Does this mean we’ll all be bag holders when the AI bubble bursts?
You know they will agree and give everyone stakes exactly when bubble is about to pop
Public stake isn’t for profits (especially not short term capital gains), it’s about concentration & not getting controlled.
Controlling something worthless is pointless anyway.
And giving it away to everyone will score political points.
It would be a good idea if the entirety of the current industry for it wasn’t built entirely on smoke and mirrors type promises.
The general idea (so far as I can parse) is that if these companies are expecting a government bailout when it all goes south, then the tax payers who would be bailing them out should get paid back. But in practice, what will happen is we’ll be saddled with the debt and these companies will weasel out of it.
The fact is I don’t want to own a stake in any of these companies. I would rather they make it illegal for these companies to ask for a bailout from the government and close loopholes they will use to file for bankruptcy.
If they’re going to fail the government should buy their assets (data centers, infrastructure, etc) if the people agree that’s okay. Instead of what will likely happen (the companies left standing when it all goes under will buy up all the assets dirt cheap).
Idk I support bankruptcy for them, but I think it’s valuable to give mutual funds and pensions priority in restitution. Venture capital got themselves into this mess through irresponsible investment.
Defense, oil, and media industries should be a higher percentage. They are historically responsible for most corrupt lobbying/disinformation/warmongering and alliance with zionazi rule over the US. The strategic unanimity of “must beat China or maintain zionazi bias over population control” for AI means that it is meant to be a corruption vector for skynet, funneling all of our wealth and liberty onto privatized profit from skynet.
Also all pubic infrastructure that is needed for normal lives (from transport to payment systems).
AI is just a financial grift to circlejerk money out of the stock market; and then reap a big, fat government bailout when the bubble inevitably pops.
If we share the profits, do we also share the risks? What happens to this plan when AI implodes?
Not the right move dawg
This is the only sensible way (but we were taught it’s “evil”).
AI companies are.
First of all, fuck no. Remove all of the AI companies. Now. Secondly, this will guarantee they become “too big to fail”. Like, it feels as if they’re purposefully doing this to make it palatable to bail them out.
Always seeing these kinds of messages and kinda curious, I guess you mean LLMs with all AI and not truly all ai? Cause there are a lot more stuff under that umbrella term thats super useful for example in medicine etc
Yes, LLMs, the article refers to it in that manner so I did too.
I agree. No public funds should go to AI. No taxpayer money should be used to construct AI or datacenters. When the AI companies start to collapse, they should receive no bailouts.
Bailouts are corruption. Why do the rich get socialism and the rest of us get crushing capitalism? When we fail, we get stepped on. When the rich fail, they get billion dollar bailouts? But they claim they deserve to keep all their riches because they worked hard for it?
I could be a billionaire oligarch too if all of my failures were compensated for with billion dollar bailouts. It’s not hard to succeed when you are elevated to the heights of the gods every time you face a little adversity.
well said. The problem is they are overvalued anyway… so we take half of a trillion dollar company that only worth 30% of that number, so we take a big ass loss. unless we are just straight up taking half and there’s no compensation provided. can’t imagine the SRCOTUS riding with that policy.
I think the intention is to get the profits of automation to the people when more jobs are inevitably automated.
It is, but unintended consequences.
With this, then we couldn’t afford Sam Altman to experience failure because he will drag folks down with him. So the companies invested become too big to fall, and the still private leadership gets to run things however they wish knowing the government will cover for any mistakes.
It’s bad enough as the government will panic about retirement accounts when they falter, this exacerbates it.
It’s a risky form of private-public partnership, with a lot of ways the company can privatize rewards but socialize the risk.
This feels like a setup to the biggest rug-pull in history. The whole thing is going to shit and the taxpayers will be holding the bags.
These AI companies rushing to do IPOs so the public’s retirement account index funds can buy them up and take the loss for them, too.
These people need to suffer real consequences.
Bruh they are working on deregulating debt swaps so they can hide how much leverage is going into these build outs. Trillions of dollars of data centers with mortgages and rent to own NVDA chips. its looking like the greatest scam of all time rn.
I think it makes sense. The bill will be paid off from taxes, so it makes sense that the bailout comes with company stock transfer to workers.
It’s fair for many reasons. One of them is that billionaires and corporations don’t pay taxes.
What about, instead of 50%, make the bailed out company be 100% owned by the people - not the government, the people.
By the time the public own it, it will be a liability, not an asset. I’ve seen my government purchase a telco’s entire infrastructure only to immediately write it off.
Just set it on fire already.
yep lol and thats how it will work. we’ll get a bunch of data centers with a 5 year lifespan and 30 years of debt strapped to them.
The public should own all of AI, and corporations should be forced to ask the public to lend compute. AI is a powerful tool, and if we give the elite ownership of it, they will someday cut society loose: By killing or enslaving us all, and using robots to autonomously fulfill the wealthy’s wish to be truly free of responsibility.
Oh fuck do we have censoring moderhaters here too now? I can stand up for my own opinion, asshole moderhaterfucktard
I don’t think these companies are worth the value of the paper that their charters are written on. I don’t think many of them are going to last much longer, but he might actually be on to something here in terms of diffusing a massive financial fraud that’s about to happen in broad daylight.
The common wisdom right now is to just “put your money in an index fund, it’s safer and outperforms actively managed portfolios.” Which is to say, a fund that just buys a little bit of everything from a given list, rather than trying to pick stocks that someone thinks will do well, it creates a very diversified portfolio that is protected from anyone company fucking up by having the value spread over as many things as possible. Because many people just put their money in index funds now, getting listed in an index kind of guarantees that lots of people will be buying the shares consistently and thus consistently causing the price to rise over time.
To get in to these lists, normally, a company has to have been public for a while, generally about a year, and show profitability for a prolonged time. These rules have recently been changed though.
A bunch of the AI companies are doing initial public offerings (IPO meaning putting their shares on the public markets for the first time) in the next few months. And stating absolutely insane valuations. Because of the rule changes, they’re basically all getting immediately listed in index funds. And since they’re all targeting insane valuations, they’re going to automatically suck up a bunch of retirement money by default.
I’m not sure about anthropic and openAI on this next part, but SpaceX (which just “bought” Xai), is only going public with about 5% of it’s shares, so theoretically they can just trickle more shares on to the market to get bought up by index funds, and because supply of actual shares is artificially constrained, it will lead to massive overvaluation of those shares, taking up a disproportionate amount of money going in to index funds.
It’s actually fucking criminal that this is being allowed to happen, but because the rules for index funds and IPOs are set by financial institutions and stock exchanges, with very limited oversight by the government, they can just do this.
If the government were to take these 50% shares, it would kind of throw a wrench in the plans, since it would give the government the ability to sell those shares on to the market and stop the over valuation that allows them to take disproportionately from the index funds.
When I found out what it meant when other countries have sovereign wealth funds…
I have no idea how most people in America keep convincing themselves they’ve somehow got a good deal.
It’s mostly oil countries that have a sovereign wealth fund and it comes out of the oil money. Norway, Saudi Arabia. Idea being that oil is a limited resource with a lot of value and the proceeds should be used to ensure everyone’s future.
Of course the US IS an oil country…
Officially too old and senile.
Yet you still managed to post this despite your struggles, well done you!
rare bernie L
just do socialism. stop this wishy washy bullshit. capitalism must die.
“Just”
not saying it’s going to be easy but we just need to accept that capitalism cannot be reformed before we progress to the next step: how can we abolish capitalism and create a world that is just
“Rare”
Also believing that the AI overlords wouldnt murder him and everyone he knows before giving the public anything.
Bernie wants to nationalise AI companies. This is National Socialism.
(/s)
Removed by mod
Am I the only one who is sick of comments like this? Dude, seriously, fuck Reddit for banning people for saying Trump’s hair looks bad, but I don’t wanna be on a platform with some psycho like this.
No moderation is not good moderation.
There’s a huge fucking difference between “tax billionaires” and “shoot the richest man” or whatever the fuck crazy shit this dude is hallucinating over here. Fucking hell… Seriously, just consider who this person might be IRL. You really wanna be associated with this asshole?
I’m pissed off to fucking hell on a daily basis and I know I still would never say something like this in public. You gotta have a fucking screw loose. I don’t wanna see this shit every time I open Lemmy. It’s fucking morbid. Do any of you think this shit helps in any way? Some psycho posting dumb shit like this from his mother’s basement?
Dude, not even that Luigi guy posted shit like this. Consider that. The guy’s social media was squeaky clean
Ban this fucking weirdo
EDIT: Thank you mods and sorry for being so whiny. I wish more groups were like this
You are entitled to your own opinion, like I am. Asking for a ban is getting a permaban yourself. STFU and read something else if you don’t like it. I am fullblooded against Capitalism and clearly you are some rich asshole who feels threatened. Make sure you don’t get richer over the backs of honest people, fucknugget.
I would LOVE to read the original comment.
Oh I am happy to tell you:
My idea was to organize a big event each year in which the richest man of America can give 50% of all his money away (to charity /the poor) or get shot. Every year, for instance on Liberation day. So the richest of the rich start worrying that they are too rich instead of be proud of it. That’s a great change. Then they will push each other forward so that they don’t have to go to the scaffold themselves… I imagine a big television show with lots of cams, dancing ladies and a life band etc… big fun.
But of course the fullblooded Capitalist or the Rich at the expense of others cannot handle such an idea and asks for a ban. Sorry buddy, but the age where I come from was asking to ban someone else is getting a permaban yourself. GTFO
I mean I don’t hate it but it needs some workshopping. Why just the one richest person? Why not the 20 richest? Also, forced charity donation is a bit problematic since the wealthy all have their own sham charities. Use the money to fund free healthcare instead, im sure it would be well more than enough.
