Technology

Better idea: drive a stake 50% through AI CEO's chest. Better, faster results, not just economically, but ecologically too!

Keep your eye on the ball: 100% of the profits must pay for universal healthcare.

Almost everyone in this thread seems to be assuming the US would pay for half the shares/equity of these companies.

That is not what is being proposed.

What is being proposed is that the US Govt simply seize half the shares/equity/board voting powers in these companies, without paying a cent for them.

It is a half-nationalization.

Not a half-bailout.

EDIT

I go into more detail and explain in this comment in this same thread:

https://lemmy.dbzer0.com/comment/26357349

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.

Does this mean we'll all be bag holders when the AI bubble bursts?

50% might have been a fair cut if they actually asked for permission up front,but they didn't. Everything made by AI is fruit if the poison tree and should be something equal to public domain.

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.

You know they will agree and give everyone stakes exactly when bubble is about to pop

How about a 50% stake in all companies valued over 5 billionaire dollars.

50% seems very low. They created these companies by scraping and pirating information.

50% means that they just need to fool a few people to get what they want. Imo it should be more like 90% public with a requirement that all services must be provided for free.

Pretty horseshit to act like they trained AI on only American data so only Americans should benefit.

What about the literal entire rest of the world? They get nothing right?

Just another example of America exploiting the world for their own benefit. Even the good ones are so corrupted by their system that they do it without realizing.

rare bernie L

just do socialism. stop this wishy washy bullshit. capitalism must die.

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).

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.

If this ever passed, I bet we’d see a pretty quick devaluation in these things.

Not the right move dawg

Wouldn’t this make everyone interested in the bad business practices that would increase the profits?

I see what you're going for, but... No thanks.

That's great for the US, but these companies are fucking the whole planet. What will the US do when other countries hold them responsible?

What happens when they go bust?

The biggest flaw, aside from it having to succeed in our corporate owned Congress, is that it would require these companies to actually make money, and based on the technology we have today, that seems unlikely to happen anytime in the next decade. At least not without some major technological breakthrough. But it’s better than nothing I suppose.

Ew, no, thanks. Feels like he got this “idea” from some slop machine.

Just tax them, regulate them, fine them into bankruptcy, and sue them for crimes against humanity.

Use taxes and regulations to incentivize cooperatives and disincentivize private companies.

Tax revenue and income progressively (starting on the negatives: if you're below the mean you get money), reaching 100% for anything above 100,000$/month for individuals and 100,000$/month/employee for companies.

Scale fines with personal wealth/ valuation, so that they have the same impact regardless of wealth.

Tax and regulate the stock exchange like the gambling joint that it is.

Hold CEOs, boards, and stockholders personally responsible for any crimes or torts committed by their companies.

Nationalise any companies that provide first needs or anything remotely resembling a utility, and turn them into cooperatives.

Tax 100% of any wealth over, say, ten times the mean.

I don't know, there's so many better things to do than spreading this cancer over all the population. All this would do is make it hit harder once the bubble pops.

50% too low.