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For her to bring this up more than likely means there are already conversations happening around this topic. I wonder if cheeto in chief is already offering to "nationalize" every one of these companies like what happened with Intel.
They've been talking about this for a while now. OpenAI in particular has been leading the charge on having their business deals "federally backed." They don't really say why but it can't possibly be because they are promising to spend like 629 bazillion more dollars than they are making.
Straight up, it would be mortally dangerous for federal US reps to bailout tech. The industry is wildly unpopular, has openly threatened labourers with forced redundancy, polluted and\or poisoned vulnerable communities, and houses some of the most famous billionaires in the country. This is not an industry that thousands of blue-collar workers depend on for wages and produces products that people need to survive. Also, the US state is subject to the most open resistance and condemnation it has had since the Civil Rights Era (even privileged groups find the erasure of wealth disparity appealing now too).
Seriously, I think if this were to happen, it would result in violent retaliation.
Rising energy costs are can be blamed on AI too.
Also, it's not even just AI actually using more energy, it's also more capacity being constructed in anticipation of it. The upshot is, even if the demand from AI goes away the higher costs would remain because all that extra infrastructure still needs to be paid for.
Man then I hope it bust soon. Because they want build 27 AI data centers in Oklahoma. If this happens say goodbye to our water supply. But revolt what we need.
Yes exactly, they're making it very clear they won't stop until forced to.
The masses can be easily manipulated
Fuck eh, guess the state has absolute power over everybody within its grasp and all those periods of revolt and revolution were fake news.
Yall already know Trump has those blank bailout checks sitting on his desk right now. He's just waiting for Microsoft, Palentir, Google, and so many more to tell him how much they want.
AOC is right, if AI bubble burst, companies shouldn't be bailed out. I want to remind people that not ALL bubble bursts have resulted in bail outs. When the dot-com burst, there were no bailouts. There was a short recession of 8 months, and the rest of the world continued on in its aftermath. When the commodities bubble burst, in the 2000s there was no bail out. When the housing bubble burst, there was bailout because banks had lent too much money into the housing bubble. If banks fail, there would be bank runs, and that contagion would have spread everywhere and the entire financial system would have collapsed. Currently, there are no bank debts nor bonds being issued to spend billions on AI data centers. The danger will be when leverage is used to fund these trillion-dollar outlays. Currently there is very little debt tied to AI bubble. Most of the AI spending is coming from the humongous tech companies with loads of cash on hand and with fat profit margins who are plowing it all into AI data centers. When it does go bust, their valuations will deflate but the business will still remain. Watch for use of leverage or debt in AI. Once it enters the equation, that's where the systemic risk will begin to tick up.
That must be the trickle down I hear so much about.
OFC we’re going to bail them out
It's what 401Ks crave.
Let my pension and 401k burn. I still have to work another 31 years anyway.
Social Security for all, Medicare for all. That's the solution.
We need to end the current system that soley revolves around stealing from the citizens to pay the rich.
They fucked up. They don't get to keep fucking up.
And if they do, we bring the system down permanently. There are more of us than there are of them.
I can't see a scenario where a bailout doesn't happen but I also don't see it being beneficial if a bailout does occur.
While the automakers bailout boosted an industry that was on major trouble, they were able to return to profitability in the end and pay back those loans right? The whole A.I. industry has never turned a profit, so even if we bail them out, the fundamental model as it is now would just revert to a known unprofitable state.
You could argue that you should bail out the hardware companies so you don't cripple the chip manufacturers, and foundries, but there is no financial benefit that I can see to bail out a llm developer. If you were going that route. I would say they have to nationalize the software companies but I don't want that being part of the government at fucking all.
I’d argue rather than bailing out hardware and chip makers for their completely blatant fraud, they should be nationalized, and llm companies should just be left to fail or fined into failure for their part in the fraud. It’s not like other unrelated groups aren’t working on their own models anyway.
Agreed, the bailout should be targeted and very selective. If OpenAI can't survive, then fine, let it 'die'. It won't actually die, it'll get scooped up by someone else and their assets will be picked up by one of the surviving companies. It's an interesting way to innovate... burn money to push the industry further along, knowing full well that you'll never turn a profit, but that a future company will end up with your tech and they might eventually make a profit.
Good. Let the ones who can, survive. Not be swarmed by zombies.
There's got to be some way we can opt out of our money being used for bailouts.
I think the better solution is if the company is so important that it needs to be bailed out, then should just get nationalized when it fails.
Our money goes towards bailing them out, but the public owns it after that. The shareholders that ran it into the ground shouldn't get to keep it.
Let them have it baby!
Meanwhile, crap, crap! What to do? Crap!